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Buying tips of residential property

Buying a residential apartment is not an easy task. It takes immense time, effort and luck to get the best deals. Owning a luxurious flat in a posh locality is not every body’s cup of tea. Many people especially the middle-income grouped people are not able to dream that high hence settle down for a decent one in an educated locality. It is immensely important to ensure that the locality is good enough otherwise it becomes really tough for the residents. A peaceful and clean society is what everyone looks for. A few buying tips have been discussed below which can be helpful for people making investment in residential apartments.

(a) Before looking for the flats, you need to jot down the amenities which you are seeking and accordingly carry on with your search. Buying flats include investment huge amount of money and feelings. What you are buying now will eventually reflect your choice of lifestyle and that is why it is important to make sure that the place chosen has everything right on place. It must have enough space for the kids to play around in future. The apartment should be such that it becomes easier for the home makers to fill every corner of the flat with love, emotions and dreams.

(b) Your budget is normal and you are looking for some posh flats in a luxury society. This is weird. It is better to look for something which comes easily in your budget. This way, you will be able to save time and utilize your energy in finding the exact things which are important for you.

(c) The flat should be placed in a proper location which has access to the communication facilities. If it is located in a distant area which does not bring you any closer to the basic amenities in life such as the bazaar, food hub, hospital, school, office, universities, etc.

(d) Researching on the market price and then signing on the dotted lines will make you a great buyer. It is important to do intense research on the market value otherwise one will end up making a big mistake.

(e) Hiring a proper real estate agent is also necessary as he can educate the buyer by giving adequate and proper information regarding the buying and selling of apartment.

It is important to do proper market research before buying a residential apartment as buying an apartment involves huge investment both in terms of money and feelings.

The Magic of a Home’s Environment

Every home is a house but every house is not a home.These words are so true by the person who coined these words.They seem to be well thought words not only in philosophical terms but also in monetary terms. In today’s time setting up a home for oneself is not an easy job at all. Many people try to invest most of their earnings in purchasing any kind of property be it a flat or a bungalow. Some people invest their entire life’s earnings and income into buying any such property to set up their dream home.

When we talk about Metropolitan Cities like Delhi or Mumbai then buying a home is surely an uphill task. Many people even have to take home loans at times for fulfilling their dream as such property is available at extremely high rates in the center of such a big city.If buyers want to purchase housing property at very reasonable prices then they have to find it in the outer portions of the city which are far flung areas. Even in East India, the commercial property in Kolkata is a sector reaching new heights in terms of infrastructure that too at very reasonable prices.The southern portion of the City of Joy is developing so prices are still in control.

Sellers and builders have realized that real estate investment is becoming a lucrative business in the Southern part of the city. One Metro Rail Route is already functional from New Garia to the North of the city via Tollygunge where as a new route from Joka to BBD Bag is under construction. The next ten to fifteen years look extremely promising for this apartment property business to flourish in the market.

Inflation is rising and availing a property at reasonable rates during such a time is a big thing to achieve. The flat system is getting very popular because of this factor.

Real Estate companies in Kolkata Shaping the City’s future

Of late Kolkata is drawing lots of attention as a great destination for hot real estate deals. The young and enthusiastic investors are really finding it a very lucrative option to invest in a chosen deal of property in Kolkata. The interest got renewed for a number of reasons. Once Kolkata was one of the premium cities and at the onset of the 21st century Kolkata witnessed an economic boom with the transformation of the economic policy by the government of West Bengal. This in terms brought in huge investment in the sectors of infrastructure, hospitality, retail and of course real estate.

The interest got rekindled once more and more people are looking forward to invest in a selected property in Kolkata. Not only the residents of Kolkata are taking a plunge into the proposition but also the residents of other towns and the bulk of NRIs are coming forward to buy properties in Kolkata. The main interest is revolving round housing options belonging to the mid segment.

Another reason behind the growth of the real estate sector is the improvement of the transportation system in the city and development of new roads and other routes. New set of flyovers, bypass connectors are being established in order to facilitate easy commuting norms throughout the city. This lead the different real estate companies in Kolkata to come up with projects outside the city limit. Thus, it can be said that the availability of economical and accessible communication facilities in the city is the key factor to the rise of property price in Kolkata. The extension of metro railway project is yet another reason to make the sector so very remunerative.

The suburban area in Kolkata that has seen great growth in the real estate sector are BT Road (North), Howrah (West), Baruipur (South) and Chandpur Champahati (East). The other areas within the urban limit that have great demand for real estate properties and where the real estate companies Kolkata are coming up with the most attractive projects are EM Bypass, Rajarhat and Behala.

The Kolkata real estate market is growing big time and is playing a crucial role in shaping the city’s future. Investing in a property in Kolkata will indeed derive great ROI.

International City beside the River Hooghly

If you were a resident of Kolkata in the 70′ and 80’s, you probably would not recognize the glitzy commercial and residential buildings dotting the skyline today. The initiative of real estate developers in Kolkata have infused the once-jaded look of the city with swank residential apartments and commercial spaces with a bold message that ‘Kolkata has truly arrived’.

Moreover, the state government is open to 100% foreign investment in real estate. The state’s urban development ministry has fixed a minimum area of 10 acres for developing housing plots, while 50, 000 square metres has been fixed for minimum built up area in construction development projects.

The Kolkata West International City across the River Hooghly in Howrah, the first venture funded by foreign capital, is spread over 390 acres that will offer 5500 bungalows on free hold land by 2009. With the best lifestyle accessories to boot, the township is a zip drive from the business district.

South City promises to be a landmark edifice as the the Emami, Sureka, Shrachi, JB. and Merlin Group of companies have come together for 3 residential-commercial projects on Prince Anwar Shah Road, B.L.Shah Road, and Alipore. Standing 35 storeys tall, South City will also house the city’s largest mall and an international school.

The city is stretching its limits towards Dankuni with another multi-use township on 5000 acres available for development. National and international bidders are in the fray for this coveted project.

On the commercial property front, 13.3 million square feet will be available in Sector V, Salt Lake and Rajarhat, the city’s IT hub. Retail spaces are also expected to grow to 1.5 million sq. ft of space – from 3 malls to 12 in the next few years, international brands will make their presence felt in the city, as incomes rise and lifestyles get more ‘stylized’. Two real estate projects in the 7-star category were launched in early 2007 to meet the aspiration for global brands amongst the elite of the city.

Appreciation

Jones Lang LaSalle, the world’s largest integrated real estate and investment management firm, finds Kolkata an attractive business destination, and worthy of figuring on the company’s list of ’emerging winners’. Inexpensive rentals, a successful private-public partnership model, incentives from the state government, political stability, a fair playing field for all real estate developers are factors very strongly in Kolkata’s favor.
In fact the West Bengal government’s initiative in tying up with private builders has facilitated opening up vast stretches of land which the existing urban land ceiling laws would never have made possible. The West Bengal government has created a cross-subsidy model for real estate developers in Kolkata, allowing them to make profits on high income housing provided middle income groups are sold flats at a no-profit, no-loss basis, and to the lower income groups at a lower than cost price.

The IT sector is growing at twice the national rate at 70% in Kolkata. The demand for 6 lakh sq.ft of commercial space has been expressed by foreign investors, MNCs and banks in the city. In fact, of all the foreign investors looking for investment opportunities in India, 40% of these are focusing on Kolkata.

Experts are of the view that ready commercial spaces available at short notice would make Kolkata a more attaractive destination for major corporations which are now looking for facilitites in the city. The time taken to sanction building plans would considerably cut down construction time by 3-6 months.

Source: NRI Realty News

TMC MP’s firm buys 2 mn sq ft in Kolkata township project

In one of the biggest land deals in Kolkata, Alchemist Township India Ltd has purchased 2 million sq ft of prime residential land from the Hiland Group at the Calcutta Riverside, a satellite township development of 262 acres on the banks of the Hooghly river.

Alchemist Township India Ltd is an arm of the Alchemist Group, promoted by KD Singh, who is currently Trinamool Congress MP in the Rajya Sabha. Alchemist Township India has earmarked approximately Rs 600 crore for this project.

“Alchemist will be the only outside entity to acquire land for residential development in our project. We have found a lot of synergy with them and are satisfied that they will both contribute to and derive optimum value from this partnership,” said Sumit Dabriwala, managing director of Hiland Group.

The deal has been facilitated by Jones Lang LaSalle India, who was the transaction partner for both the companies.

Mayank Saksena, managing director-land services, Jones Lang LaSalle India said, “Calcutta Riverside is a prime township project that has a very healthy mix of market drivers, including a 25-acre IT Park, various commercial establishments, world-class physical infrastructure and advanced lifestyle features such as a golf course.” Alchemist Township India Ltd is reported to be planning to develop golf-course facing apartments and group housing in the two plots they have acquired.

In May this year, the company bought 20 acres of land from the Bengal Durgapur Aerotropolis Projects Ltd at Durgapur. According to media reports, the deal amount was around 50 crore.

Source: The Indian Express