Good Infrastructure boosts India Property Rates

A good Infrastructure is crucial to increase in demand of realty market. It is witnessed that places where there are good infrastructural facilities in the country, properties prices have shot up. Property in Gurgaon is a good example. The presence of international airport near Gurgaon has led to the growth and development of the city. Residential and Commercial property prices have shot up.

Airports are very important part of the infrastructural projects. Presence of an airport in the city definitely gives stimuli for development of micro markets. Existence of airport or scrapping of it has far reaching impact on the real estate of that place.

India Property is giving two classics examples are the properties of Greater Noida and Navi Mumbai. Announcement of the proposed airport has lead to price rise in these two cities. The entire infrastructure of Navi Mumbai is expected to witness a paradigm shift.  For the greater Nodia property prices where the proposal of an airport was cancelled shifted, land values will slow down.

Properties in Mumbai, especially the Navi Mumbai has significant improvement. The announcement of airport has raised the realty prices of this new developing region. Along with the airport, there is also a proposed metro rail project in this region. These infrastructural developments have attracted real estate companies, property developers and investors. Many well-known developers are planning and initiating commercial and residential projects in this area. New projects are coming up near proposed airport location.

The development of area in the Greater Noida area would take place have the proposed airport plans were effective. But the cancellation of the airport in this region will in the future reduce the interest of developers and investors. The greater Noida region would have a parallel economy and would be the hub of many industries, like Gurgaon. The real estate picture of India Property, Gurgaon is amongst the top. The nearness of international airport from Gurgaon makes it the center of business and commercial activities in the Delhi-NCR region. 

India Property

Real Estate of India is witnessing a demand in commercial and institutional properties in all the major cities of India. India Property market for the rental segment is also recording an increase with residential and commercial growth. Residential rental markets in cities like Mumbai, Bangalore and Delhi-NCR is showing an upward graph. And the commercial rental market in stable in the Indian Property scenario.

The city of Pune witnessed a growth in the realty market as other sectors developed. There was a rise in demand in residential market in this city as migrated population in the city kept on rising, mostly because of work reasons. Even the commercial space rented by offices and retail units are doing a good business in Pune.  

In a recent property report in Pune, the retail realty market in Pune has recorded a stable retail segment. The mall space supply in Pune stood at 2.27 million square feet.  The city is expected to have about one million square feet by the second half of 2012 or early 2013. In the report, the overall India Property retail place was about 20%, which is marginally higher than last quarter.

For other cities of India, the high streets shops have recorded are high increase in rental value as against the malls there. The result reflected the retailer’s interest in high street properties in India. The property in Pune and Gurgaon saw a rise in rent in the high streets shops, about 7 to 8 %.

The rental Property in Pune for the malls were stable as there was sizeable vacancies. For the same, the high streets of MG Road and JM Road in Pune witness an increase in about 8% rentals. This was because of lack of space options. The report also mentioned that the overall vacancy rates of mall are likely to fall as the rentals will remain stable.

Demand of NRIs for ready to move Chennai Properties

Properties in Chennai are getting attention of the NRI buyers. The volatile condition of rupee against US dollar is taken advantage by the Indians residing in the US. Chennai real estate market is pulling the NRI investors and they are investing the market like never before. The realty market of the city is becoming 20% more affordable for the NRIs due to fall in rupee price. Leading property developers of the city is saying that they have witnessed a jump in enquiries.

According to many sources from the real estate market, the NRIs are looking for residential units in the city. Many prefer to buy ready to move residential apartments in Chennai. The NRIs buy these flats for their relatives or parents. These residential purchases will help them get periodical return on investment.  To buy ready to move residential properties in Chennai they are willing to buy at extra premium. Mostly prefer projects located in and around the city. Price range of residential units mostly in demand is from Rs 30 lakh to Rs 1 crore. This price bracket is for apartments in Chennai. Some NRIs also prefer to buy villas and plots in and around the city.

Many realty experts feel that the preferred locations for investment in the city are ECR, OMR and some parts of Velachery. Besides the falling rupee, other factors that contribute to the rising demand of properties in Chennai are competitive lending rates of overseas financial companies and favorable exchange rates. Majority of demands are from NRIs settled in USA. These NRIs have good credit history and sometimes get loans at zero percent interest rates.

Chennai property in demand

Located in the southern part of the country, Chennai is the biggest supplier of workforce to the cities like Dubai and USA. The city is known for its intelligence and the positive work culture adopted by the people there. Having the base of many automobile and IT companies, Chennai also provides many work opportunities to people from across the globe.

 Because of a number of IT companies coming into existence in Chennai, the demand for the commercial and the residential property is also growing. Also, the downfall of the value of Rupee in the global market has come up as a great opportunity for the NRIs and other foreigners to invest in the Indian property. The depreciation of the Indian currency has benefited the NRIS/ PIOs with the Indian real estate getting 20% more affordable to them. 

The flats, studio apartments, services apartments, houses for rent all are available in Chennai, with both the ready to move and the normal housing facilities. The infrastructures of the houses in Chennai are also very advanced and provide high living standards to its residents. The foreigners investing in Chennai properties mostly prefer ready to move homes or pre bookings for the projects coming up in future. Taking property for investment purpose is yet another motive of the NRIs which acts as a great support for their children future. The easy availability of home loans in different banks of the country is also a very positive thing which is helping people invest in the Indian property. 

This is somehow benefiting the property dealers also, as it is letting their business go and is inviting more of foreign currency to the country. This currency can be used in future for high end purposes by the government and other public sector units of the country.

Pisoli- the next residential destination!

Villages now –a- days don’t come under the rural area category. The fast and the speedy development of many areas in India have resulted in redefining the global status of the country. These developments have majorly been witnessed in the form of infrastructural growth leading to a high rise in the real estate of India. Not only cities have been turned into metropolitans but, the small regions and villages are no more considered as villages. The infrastructure and the sky rocketed buildings situated in different parts of the country has given it the shape of a cosmopolitan. The growth in the number of flats , residential properties, offices, bungalows, services apartments, has resulted because of the increasing demand. 

A new area with high residential growth is coming up which is located on the Mumbai- Pune bypass. Pisoli, a small village is all set to fulfil the property demands of people hailing from Mumbai and Pune regions. People looking to invest in Mumbai properties, 2bhk flats in Pune can easily look for options in the Pisoli region. The location of the region is also easily accessible and is well connected to the main centres of Mumbai and Pune. Also, the properties here are affordable and would suit the pockets of a common man. 

Pisoli has grown up really fast in only a decade from just a farmland to a fully grown city. The area is sure to act as a great saviour for the people looking for Indian properties in the nearby areas of Mumbai and Pune. Also, its connectivity with both the cities is a positive factor which is adding on to its demand. Though, public infrastructure and water supply are the major problems faced by the people in Pisoli but, as per the sources the government is going to look into the same very soon.