Are You Looking For Affordable Homes?

Though affordability is a relative term, it is pertinent to look at destinations where residential properties are available relatively cheap. Here are top 5 cities with great lower-budget real estate investment prospects.

Navi Mumbai, Maharashtra

While property has increasingly become unaffordable in Mumbai, Navi Mumbai still provide numerous budget options ranging from Rs.30-Rs.50 Lakhs. The proposed SEZ’s at Dronagiri, Ulwe and Kalamboli, and the upcoming international airport at Panvel could change the face of this satellite city. These projects are expected to generate massive employment, and further boost demand for commercial and residential developments. The government’s approval to the Mumbai Trans Harbour Link will also provide a flip to Navi Mumbai’s property market.

Nagpur, Maharashtra

Nagpur is one of the fastest-growing cities in India. Its main claim to fame includes its MIHAN and SEZ projects. With Nagpur being turned into the next IT hub of Maharashtra, the city is set for a major transition in its real estate profile. The already established MIDC corridor along with the upcoming IT parks have made Nagpur attractive for realty investors. Government initiatives such as connecting Nagpur with Mumbai via expressway and an international airport will further work in the city’s favour.

Surat, Gujarat

The diamond capital of the world is a well-developed metropolis in Gujarat. Rated as one of the fastest growing cities of the world, conferred with the best Urban City of India award, Surat has also been recognized as the cleanest city in India by INTACH. Rapidly improving infrastructure initiatives have helped modernize Surat significantly. Micro-markets in New Surat, such as the entire stretch of Dumas Road, are dotted with malls, multiplexes and top-notch residential apartment projects. The city’s excellent road network, among other things, will help transform it into a realty hot bed.

Ahmedabad, Gujarat

With the city being a prime example of organized and fast-paced development for the rest of the cities in India, Ahmedabad has come a long way. With huge investments pouring into the state, rapid infrastructural development in the form of bullet trains, GIFT Smart City, the entrepreneurial nature of the population and a supportive, stable government, everything is going right for Ahmedabad. The oil, gas and energy industries, petro-chemical industries and automobile manufacturing industries are some of the major factors driving perennial demand for real estate in the city.

Hyderabad
Hyderabad could be one of the most affordable tier-1 cities in India. Even well-developed residential localities in the city such as Manikonda, Kukatpally, Miyapur and Sainikpuri, offer residential properties in the budget range of Rs. 30 to Rs.50 lakh. Property prices in Hyderabad are almost 60% of those in Bengaluru and Chennai. With the return of political stability, Hyderabad can now expect large investments into its property market.

Stunning Kitchen Trends For 2016

Who doesn’t like to decorate their home that too all by herself or himself?? Talking about home, kitchen is one of the most busiest and important part of a house. Well, this article will explore some of the main aspects of kitchen design for 2016! Broken into sections based on features this article will offer DIYers a leg up for getting and staying on trend in your home remodelling projects. To the normal eye, a kitchen is simply a kitchen; yet with a bit of creativity and some old fashioned elbow grease, the place where food is cooked can be so much more.

Cabinets

As natural and organic looks are in style, wood and earth-inspired cabinetry will be everywhere this coming year. Further, as the organic tones of such cabinets can offer the warm honey and chestnut tones that remind one of the still-popular country chic look, the materials create a versatile look, one that will continue to be highly desired in coming seasons.

Fixtures

The fixtures of a kitchen can make or break the completeness & professionalism of your home DIY project. This year, following the trends of naturalism and approachability, warm colour taps and knobs are said to be very in style. This includes brass and reflective metals, and even the mixing and matching of materials, for instance, a copper and chrome combination. Lastly, if one is on a strict budget, the neutrality of this palette gives a long lasting look that should mesh with a number of trends both present and future.

Sinks

Remember when all kitchen sinks had to be shallow and white to be considered fashionable? To best compliment a more natural overall appearance, colourful (non-white) sinks are said to be the best option for any do it yourself kitchen makeover in 2016. The reason this specific type o sink is said to be becoming so popular is because the concept allows greater options when following many of the other trends previously mentioned. What’s more, large sinks are going to continue to dominate the kitchen décor world.

Floor Plans

A floor plan for a kitchen in 2016 will by itself not differ all that greatly from those designs of 2015. The difference, however, will be in how it relates to the rest of the home’s cohesion.

Eating Areas

As much as I hate to say it, multiple sources have reported the end of a classic piece of family furniture. Yes, many designers feel the kitchen table is “out.” Thanks to new ideas like tall pub tables, increased breakfast bar space, or just simply additional countertop space, the old table is beginning to be eliminated from the 2016 decorative list; whether it will ever be gone for good will only be told with time.

Mumbai Realty Sector To See Massive Positive Change In 2016

The year 2015 was an eventful year for the real estate sector in Mumbai. Many new guidelines were issued by the government for the sector, which, hopefully, the industry players feel should come into the force in 2016. One of the major announcements by the government is “Housing for all in 2022” among the other major initiatives like smart cities, relaxed FDI norms, affordable housing, State Regulatory Bill, etc. Experts are of the view that these plans when implemented will propel growth in the realty sector. FDI in real estate is expected to provide a significant boost to the sector in terms of greater foreign capital inflows. The other projects will now get a boost by the substantial participation by the foreign investors. This move would create more job opportunities.

The real estate industry outlook is looking increasingly positive based on improving macro-economic fundamentals. There is stable inflationary policy and over the long term this will continue to benefit asset prices; unemployment figures continue their downward trend in most major markets leading to an increase in demand for real estate. Furthermore, commodity prices that affect consumers and the real estate market are lower relative to recent years and look unlikely to rise significantly in the foreseeable future.

The government has initiated a number of policies which when implemented should hopefully see the sector come out of its slumber and attract huge investments into the sector going forward. If the development plan 2034 is passed this year, it could well be a game changer for the Mumbai real estate market. The city is in dire need for a realistic plan. It would be a roadmap for the city’s growth and development. Apart from the above the industry has been asking government to grant industry status and single window clearance.

Due to these initiatives there would be faster clearance procedures and quick approvals would largely reduce the handover time and increase customer satisfaction level. “Housing for all by 2022” scheme, the government along with private developers will have to work in tandem, based on the PPP model if we are to see maximum number of people housed within the given time frame. The State Regulatory Bill is another major policy initiated which will help bring in more transparency into the sector. Also, the ‘Make in India’ and ‘Digital Media’ campaigns launched by the government will give a tremendous boost to the commerce property space.

The year 2016 is also expected to see a trend of developers majorly catering to the mid and lowers housing segments as prices are expected to stabilize given the policies initiated by government in “Housing all Indians by 2022”. But at the same time, property developers believe that there will be an increased demand for luxury housing as income levels continue to rise coupled with high aspirations of home buyers. Developers focus should be on affordable housing which has potential to give the much needed thrust to the entire realty sector. Senior citizen housing is also another segment that has huge potential to develop in our country. We believe that the coming year 2016 will be the year if “Affordable Housing in India” and hopefully should fulfil the dreams of millions of home buyers across the country.

For enquiry click here - http://gurukrupagroup.com/contact_us.aspx

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Mumbai In Top 10 Affordable Property Market

Navi Mumbai is included amongst top 10 cities of India which offers an affordable property market to the buyer’s followers by other cities like Hyderabad, Pune & Ahmedabad. The apartments in these above mentioned cities are available within the budget of Rs. 30 to 50 lakhs, according to JLL India. Apart from these four cities the other six cities includes Kochi, Ghaziabad, Jaipur, Nagpur, Surat and Coimbatore.

In its latest report, property consultant JLL India has listed ten cities that offer great lower-budget real estate investment prospects over medium to long term. These towns and cities offer a wide spectrum of investable options in real estate with relatively lower property price levels, providing the incentive for future capital appreciation and healthy returns.

While property prices are pretty much spiced up in urban areas of Mumbai, Navi Mumbai still provides numerous options for residential housing within the budget of Rs. 30-50 lakhs. The proposed SEZ’s at Dronagiri, Ulwe and Kalamboli, and the upcoming international airport at Panvel are expected to help generate employment and boost demand for commercial and residential developments!

 For enquiry click here - http://gurukrupagroup.com/contact_us.aspx

Mumbai amongst Top 30 Cities to Invest In Property!

Investor activity in the real estate sector, which had reduced to a lull over the past three years, is finally set for an uptick in 2016 riding on regulatory reforms, says analyst.

Financial services firm ASK Group plans to set up its equity investment in Indian real estate market to upto Rs. 1, 500 crore during this year as it sees good demand in mid-segment housing projects.

Developer’s initiatives such as offering attractive schemes and deals to buyers, coupled with lowering of rates by the Reserve Bank of India, seem to be encouraging the fence-sitters to enter the real estate market this year.

Accordingly to a study conducted by international real estate consultancy JLL, India’s financial capital Mumbai has been ranked 22^nd while the national capital Delhi is placed at the 24^th spot!

The Real Estate Investment Division at the Federation of Egyptian Chambers of Commerce Egyptian Real Estate Council, approved the amendments made by the Egyptian Real Estate Council on a law that will restructure the real Estate Developers Association, according to the division Chairman Mamdouh Badr El-Din.

We at GuruKrupa offer buyers some serene spaces to buy their dream homes and make most out of it! Our running projects in Mumbai’s vibrant suburbs will offer each buyer an experience of a life time. Our projects include 1, 2 & 3 BHK lavish flats, sea-view apartments to escape from the hustle and bustle of the city.

To check on our ongoing project please click on this link: http://gurukrupagroup.com/marina.html

For enquiry click here - http://gurukrupagroup.com/contact_us.aspx

 

Myths About Investing In Indian Real Estate- Debunked

Is India’s real estate market a bubble waiting to burst? Or it is just another sparkling growth story of the highest order? There are many such theories attached to this dynamic and somewhat diverse sector and here’s busting ten of the top myths: 

Real estate prices will surely rise in the future

Bull markets are always built around one particular myth and people tend to have this strong perception relating to the upward movement of prices over time. This often spurs rapid buying decisions. In reality, there is no land shortage and prices have been known to fall in areas with stagnant demand in metros like Mumbai, Kolkata and Bangalore. 

A home always fetches quick returns 

Many of us believe that real estate is the sole path to wealth but the real return on real estate investments is not something which will cheer you up quickly! Returns are fluctuating and may depend on multiple circumstances. If you are looking for quick returns, invest in market instruments instead. 

A home is a veritable piggy bank 

People used to treat a home as a piggy bank earlier owing to low interest rates and cooperation from banks. Equity could earlier help you tap into credit lines but banks are now more skeptical about lending against equity, especially your immovable asset after the recession. 

The bigger the down payment, the better 

A smaller down payment may actually benefit you with regard to availing a lower rate of interest since less than 15-20% automatically entails buying insurance. Low down payments also help you snap up properties right away without waiting to save enough. 

Value for money is possible only in the suburbs 

Another common myth, life in the suburbs may cost you more than you think in spite of the cheaper prices of apartments and land. This includes transportation and related costs of amenities which can often equal your savings on the property. 

Redecoration makes for a good investment proposition

Remodeling will never really get you as much as you think. It depends on your own selling skills and the kind of buyer you get. With the tight situation in contemporary times, buyers never really want to fork out much for newer additions. 

Go for the first possible discounts 

Often, realtor groups and companies offer luring discounts which may seem tempting at first. However, this often makes us buy rapidly owing to an expectancy of price rise in the future. However, developers often use this tactic to push sell a property. 

Rentals may not always be a good option 

In spite of the overwhelming fear of rentals, the fact remains that they are a good way to start earning some income after you buy a property. Once the value of the property appreciates, you can always look to sell it for better gains. 

Local developers offer the best, lowest priced properties

Check the credentials of the developer thoroughly. Local developers often default on delivery and this raises your expenses considerably. It is best to stick with experienced and reputed names. 

Property prices are always fixed 

The truth is they’re not! Developers can be negotiated with if they are in a hurry to clear old inventory and you may end up getting a good discount in the bargain!

Which is a better option buying or renting ?

Given the skyrocketing capital values of residential properties, more home seekers are opting for rental properties. However, this phenomenon has led to a new kind of problem where rental values of certain areas, particularly those close to commercial properties are increasing rapidly. Today’s home seeker is therefore left in a dilemma over whether to buy a home or rent it. If you are stuck in a similar situation, then here are some pointers to aid you out.

1. Risk Analysis- Rise in property prices is exponential in developing nations such as India as prices may be artificially floated over a long period. However, rental earning grows at a realistic rate as they are proper functions of demand. Most rental agreements have clauses where rental rates are hiked by 10 percent annually. Price of property in metros normally double every 5 years in urban areas, which is around 20 percent in a year. You should carefully weigh your options of investment as stock markets too offer an annualized return of 20 percent almost.
2. Price to rent ratio- This tool is fast catching up with Indian property buyers where the cost of the property is divided by the rent payable annually for it. If the value of the ratio is lesser than 15, it would be better to buy the house than rent it.
3.  
4. 1. Financial strength- Your financial position must be the backing force behind your stand to purchase an apartment. If your family earning is around Rs 1 lakh in a month, then you shall be entitled to take out a loan of Rs 40 lakhs to Rs 50 lakhs for a period of 20 years. However, if you need to balance your budget in a way to be able to meet expenses with a residual pay after the EMI is deducted. Moreover, you have to spend 20 percent of the cost upfront. For a house valued at Rs 50 lakhs, you have to down pay Rs 10 lakhs or so. Before you set out to buy an apartment, you should set aside an amount of Rs 5 to 6 lakhs as emergency fund. Also, you should be left with some savings after bearing home expenses and monthly EMI. The surplus shall cover the needs of investment and any increase in interest rates. Once you fulfill the conditions, you should look out to purchase an apartment.
   2. Stability of earnings- Home loans are normally for long tenures (more than 20 years or so). Unless you have a stable employment record, getting a home loan may be difficult. You must be confident about the stability of your job particularly if you are employed in a privately owned enterprise. Loan agreements normally come with built-in insurance which would take stock of the outstanding loan in the event of death.
   Besides, prior to buying a new apartment you must factor in the salary increases you hope to see in the coming years because your EMI may increase when the rates are revised. Or else, go for flats on rent under your budget in a preferred locality.

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