REAL ESTATE BENEFITS

DEVELOPERS OFTEN THROW IN SOME ADDITIONAL BENEFITS TO ENCOURAGE PEOPLE TO BUY PROPERTY AT A PARTICULAR STAGE

There are a lot of offers that are made by developers to the investors or to those who want to buy some property. These are usually seen during festive times and hence it becomes very important to understand the nature of the benefit and whether they actually want to make use of the situation. There are various ways in which this situation can be achieved.

Interest discount

One of the best ways in which a property will be sold is by giving a discount to the buyer in terms of the interest that they will pay on the loan that they have taken for buying the property Most individuals take a loan for the purchase of a property and they will be made an offer whereby the rate of interest on the loan is reduced for a specific time period so that the individual is able to pay a lower amount when it comes to the loan repayment figure. This is expected to encourage people to go in for buying at this current stage.

Less cost

There can be some additional benefits that the developer will throw in so that a person is encouraged to buy the property at this particular stage. The benefits can be extremely varied and would range from the availability of several additional services for the individual to enjoy in their new house to the fact that they might even get far more than what they would have normally received by paying the amount that they are actually doing. This can be reduced charges for parking or it can be additional services in the house. These benefits would vary from developer to developer and the individual will have to make a correct evaluation of the offer that is made to them.

Freebies

There are often several freebies that are thrown in when a developer would like to increase sales and this can include free membership at some local club or some other benefit. Some developers might provide several types of furniture in the house or there might be some add-ons for the individual without him having to pay more. There are several variants that can be adopted when freebies are thrown in and the individual will have to be alert about the kind of benefits he is receiving and whether these are actually worth going in for.

Discounts

The last thing that developers often offer is discount in the price of the property. This is used as a last resort and creates a situation that is in favor of the buyer. It gives the buyer a good value for money by brining down the cost. In most cases the discount is available for a few days within which the prospective buyer has to take a decision.

FACING REALTY

There are a lot of offers in the festive season
One common offer is for a reduced rate of interest
There are also some cost reductions for buyers
Free gifts are also thrown in to sweeten the deal
The last resort is discounts in the actual rate sales

Courtesy: HT dtd:- 4th Feb 2008

Real Estate Scenario in Jalandhar

For quite sometime Jalandhar has caught the attention of Non Resident Indians (NRIs), who were earlier interested more in Chandigarh. Nonetheless, the real estate developers like DLF and Ansals have observed the trend well and are coming up with integrated townships meant for NRI segment in the city.

Local real estate major like Nitishree Group has also been developing an exclusive residential township for NRIs named as Shourya NRI City on Jalandhar Amritsar highway. The huge 150 acre township, merely 8-kilometres from the Golden Temple, will house both residential and commercial complexes.

Not just from the investment point of view, more and more NRIs are considering investments in Jalandhar to lead their post-retirement lives and this has further triggered the demand for residential properties in Jalandhar.

With these trends you can notice good availability of lifestyle apartments and luxury bungalows in Jalandhar with modern amenities of swimming pools, entertainment clubs, and hi-tech connectivity via wi-fi etc.

As far as the property prices are concerned, they have shot up by more than three fold in the past couple of years. Presence of high net-worth individuals at the residential locations like Model Town has given fillip to the surrounding commercial office spaces in Jalandhar.

The city is also observing boom in retail business and nearly all national and international lifestyle brands like Reebok, Adidas, Levis etc have set up their base in the town for that matter. At least three projects on shopping malls are likely to come up at different locations of the city in the near future.

Small and Medium Enterprises who have been playing major role in city’s local economy for the past decades are observed in expansion mode and this has further fuelled demand of commercial properties in Jalandhar.

Prices of commercial land in Jalandhar have doubled in the past 12 months. Although the industry experts assert that prices between Rs 2,500 and Rs 4,500 psft for commercial properties in Jalandhar in major locations like Ludhiana Road and central part of the city are quite reasonable vis-à-vis the present scenario. As per the estimates, the prices are likely to go up by more than 150 per cent in the next 6-8 months.

Overall the real estate market of Jalandhar is set to sustain the on-going positive trends. It's great time ahead for those looking for property in Jalandhar as an investment option.

Buy, Sell, Rent Properties, Commercial, Residential Land, Plots, Apartments, Flats, Office and Retail space from reputed builders/developers by our qualified real estate agents with extensive experience in Jalandhar properties.

As Indian economy experiences the boom

As Indian economy experiences the boom in all sectors triggered by its economic and investment policies, the metros or the Tier I cities are the ones that are inundated with burgeoning investments in the industrial and the services sector. Along with large-scale investments has boomed the realty sector creating congestion, arising out of an increasing demand for residential and commercial properties. This congestion in realty structures has forced the respective governments and many investment companies to seek out for alternative smaller cities leading to a demand for Tier II and III cities. One of the basic reasons for investments flocking in to the smaller cities is available properties and affordable prices. Moreover, the special initiatives taken by the respective governments in providing the smaller cities with infrastructural facilities and creation of SEZs, has played a vital role in promoting these small towns into cities of the future. Keeping in view all the congenial factors necessary for setting up corporate infrastructure, the investing companies ranging from pharmaceuticals to financial institutions, automobiles to the IT & ITES sectors; to the retail and real estate sector are opting for the smaller cities transforming them into India's fastest growing cities in a matter of few years.

The large scale investments by the corporate sector in the smaller cities apart from initializing economic prosperity and job opportunities has also created demand for realty spaces. While developers from all the nearby areas flock in to cater to the real estate demands, the property markets in these smaller cities are witnessing along with a changing skyline, an unprecedented hike in real estate prices. While the realty trend in Tier I cities have reached a saturation point, with the yield gap witnessing significant margin of 9.5 to 10 per cent, the Tier II cities record a yield of 10.5 to 11.5 per cent. However, the emerging winners in the present real estate scenario of India are the Tier III cities, which offer greater yields of up to 12 percent. This rising prices and promising future of these cities are driving investors to buy properties predicting long-term gain in years to come.

Recent trend also shows that due to lack of availability of business equipped infrastructure and exorbitant property prices in the existing metros, the IT, ITES and the BPO companies are vying for the smaller cities where they are promised better infrastructure, state-of-the-art office spaces and also skilled manpower. A careful study of these Tier III cities reveals the close proximity of these cities, to the most happening cities of India like Delhi, Mumbai, Bangalore to name a few. Thereby, it will be no mistake if they are called the extension cities of the booming metros. Of late, the tier II cities like Pune, Kolkata and Hyderabad have made business opportunities and infrastructural development like never before. Now it is the turn of the Tier III cities or the smaller cities like Jaipur, Ghaziabad, Kochi, etc. to make it big into the realty business as the government and the corporate sector target them as 'India's next destination cities'.

Office-lease Trends in Tier II cities

As foreign investments in the IT and BPO sector keep flowing to India, there is a fair demand for office spaces which provides an international level of ambience. In Tier I cities like Delhi and Bangalore where developers have been catering to the demands for swanky office spaces the Tier II cities are no less comparable in design and quality.

The cost advantages in the realty sector presently lies with the Tier II cities where the realty prices are less in comparison to the metros due to easy availability of land and the government’s promotion of SEZs as more investors enter the market, the lease trends show an increase by 25% - 30% in Tier I & II cities over the next 3 years.

BUY PROPERTY IN CHENNAI

Chennai previously know as Madras, is the fourth largest city of India as well as capital of automobile industry. Chennai is also known for gate way of southern India. Chennai’s property market is at bourn and to buy property in Chennai will prove a valuable asset for investors.

Chennai is well connected and accessible by rail, road, and air. As by the property experts, the 12km marine beach is the centre of attraction for property buyer and that is why the rates of property are sky-rocketing in this belt.

The population in India is increasing day by day as per result of which demand of house or other sorts of properties is also on the rise. But availability of houses/property is far more less then the demand of same and hence increases in rates. Despite above, Chennai has showed progress in the field of information technology and construction quality which means buying property in Chennai is advantageous on international basis.

Since India has become world’s hottest destination in the matter of investment in India real estate and Chennai being the key city, is one of the most progressing cities, and as such to buy property in Chennai shall be very beneficial for investors.