Peninsula Prakruthi, 3 Bhk Villa Project @ Sarjapura Bengaluru

Peninsula Prakruthi, 3 Bhk Villa Project @ Sarjapura Bengaluru

VARTHUR ROAD FINALLY SET TO BE WIDENED!

Travelling on the narrow Varthur Kodi Road is a bit of a hazard. Every day, motorists get stuck on this road, sometimes for up to an hour, as traffic crawls forward along Tank Bund Road. But there's hope now. The state government has sanctioned a Rs 30-crore road-widening project, from Varthur Kodi to Sarjapura via Gunjur. The Bruhat Bengaluru Mahanagara Palike (BBMP) has started the work at Varthur Tank Bund Road. The project, to be taken up in phases, is expected to get completed by 2019. The existing road width is about 21 feet wide, which will be widened to 160 feet for 1.4 km (6 lanes of main carriage way and 2 lanes of service roads on either side) to begin with.  The project will involve re-construction of the existing road to incorporate geometrically correct alignment design, major bridges and other components. The project has also proposed the construction of three major bridges. An official from the BBMP said: "We have started work on government land. 

We have issued notices to a few property owners along the stretch. We have to finalise the land acquisition process now." Sujith Rangachar, a techie who uses this road regularly, said: "It's such a narrow road that one has to be very careful here. Because of the traffic, crossing a junction here takes ages." Widening Bannerghatta Road The BBMP has started widening of Bannerghatta Road near the Jedimara and Kolifarm junctions. The existing road of 18-24 mtr will be widened to 45 mtr (160 feet) six-lane road that will also have two service roads along with 3 mtr wide medians to allow the Metro work. Once the work is taken up, the Palike will take up construction of TenderSure footpaths along the 7.44-km stretch on both sides.

As the land acquisition along the stretch has been delayed, the BBMP will take up work along various places where government land is available. We cannot delay the work as it has begun on around 1.5-km between the Jedimara and Nice Road junctions. The remaining stretch will be completed in various stages. We are already negotiating land acquisition with property owners along the stretch," he said.
The BBMP had proposed to widen the 7.5-km stretch between Jedi Mara and Chicken Farm on NICE Road to 45 metres. The road now has a width rang-ing between 18 and 24 metres at vari- ous points. The widened road will have slip road that is 5.50-mtr wide. The private properties to be acquired include 298 buildings, 117 vacant sites and 11 temples

Credits: BangaloreMirror

RERA - For Home Buyers

ABCDE Of Demonetisation...

Demonetization on Real Estate: No scope for correction As Housing Prices Is Already At Low, says CREDAI

Realtors' body CREDAI said on Saturday there is no further scope for correction in housing prices in the primary market post demonetization as rates are already ruling at the lowest level. Credai, however, said that the real estate industry fully and unequivocally supports the decision of the government to demonetise currency notes of Rs 500 and Rs 1,000 in the national endeavour to eliminate black money, corruption, fake currency and terror financing.

The association in a statement said that the primary market is funded by banks and financial institutions which are all regulated entities. As such, cash component is not an integral element of the primary market. Therefore, Credai denies adverse impact on the primary real estate market arising out of demonetization. In fact, the primary segment is expected to gain at a rate of 15% YoY, the statement said.

The government's resolve to eliminate black money and corruption is in the interest of the common man as well as business and industry, it said. Real estate industry contributes 7% of country's GDP and is the second biggest employer after agriculture. Given the scale and size of the industry, it is imperative that Credai articulates the impact of demonetization on the industry and brings it to the knowledge of the general public, it said.

In the aftermath of demonetization move, banks are going to have additional funds upward of Rs 10 trillion. Hence, a fall in interest rates up to 200 basis points is expected. An early sign is seen with country's largest lender State Bank of India cutting its deposit rates by 1.75%.

According to Credai, we see home loan rates coming down from the present level of 9.25% to less than 7% in less than one year from now. This would bring down the EMI for the ultimate consumers. Credai expects the mop up of black money to also lead to higher tax collection and a lower rate of personal and corporate income tax from the next financial year onwards. In other words, the demonetization would put more money into the pocket of home purchasers through lower tax burden and incentives for home ownership.

The tendency towards lower rate of interest is also going to be strengthened by a low rate of inflation. Credai, comprising 11,500 real estate developers spread over 166 cities in 23 states in the country, is the apex body for private real estate developers in the country.

Bangalore and Mumbai, tops the realty investment destinations for 2017 in the Asia-Pacific (APAC) Region

Bangalore and Mumbai have become the top two realty investment destinations for 2017 in the Asia-Pacific (APAC) region, says a report. While capital of the Philippines, Manila got the third spot, Ho Chi Minh City in Vietnam and Shenzhen in China stood fourth and fifth, respectively. 

The PwC-Urban Land Institute report further said that the domestic realty market as a whole has become a compelling story, thanks to the availability of high-quality assets that offer good yields as well as strong tenant demand and falling financing rates. In development category, Bengaluru retained the first spot followed by Ho Chi Minh City, Mumbai, Manila and Shenzhen, it said. 

Though Bengaluru topped in investment and development across APAC region, the headwinds facing the BPO industry -- the mainstay of city's realty market -- post Donal Trump's win in the US presidential election, needs to be seen how it will fare. "While Bangalore has emerged as the top real estate market in the country, peak growth in the city is now behind it. 

Strong demand from IT and e-commerce sectors is likely to continue, but questions over the long-term prospects of the BPO sector have emerged," PwC India partner & leader for real estate Abhishek Goenka said. Regarding Mumbai, the report said that the geography has prevented easy expansion of city's metropolitan area, which has made it both the most expensive city in the country and the slowest growing.

 But a major road and rail infrastructure programme will allow easier access to the centre from outlying areas, with most construction scheduled for completion before 2019, it noted. "Mumbai on the other hand, while constrained by geography, is now seeing a strong recovery with the market no longer dominated by financial players. Vacancies remain north of 20 per cent, but occupancy problems tend to affect only less desirable buildings, with good-quality assets continuing to see strong demand and rental growth," Goenka said. 

On the Delhi-NCR region as one of the country's most important commercial and logistics hubs, PwC's real estate tax partner Bhairav Dalal said, the faster growth of new infra work in the form of high-speed railway network in New Delhi bodes well for demand for commercial facilities

Read more at: http://www.moneycontrol.com/news/business/bengaluru-mumbai-top-realty-investment-spotsapac-report_8017521.html?utm_source=ref_article

Peninsula Passiflora - A Completed villa Project at Sarjapur, Call: 8884449026 for more info on the Same

Peninsula ParkVille - A Completed Villa Project at Sarjapur (Few Villas for "SALE")

"Peninsula Infra Development Pvt Ltd" 

Welcomes you to Peninsula Parkville,  our 2nd project in row,after successfully completing our first project “Passiflora” & completely selling out our 2nd project “Parkville” we have few Availability in Park Ville Project .

Peninsula Parkville is a luxurious Villa project in Sarjapura which is approved by BMRDA. (Just 14 Km from Wipro corporate office )

A glance at the Project:

A private place where peace and tranquillity reign amidst pastoral environs and designer villas , located on NH-207 which is centrally located close to Sarjapura. All the houses are Vaastu-compliant and has carefully crafted floor plans. Abundant space is what we promise and maximum area allotted for open spaces, landscaped gardens and tree-lined avenues.

Current status: The project is Completed and handed over ,we have few availability of 30*50 Dimensions.  

Quick facts:-

  

Location:- Sarjapura, Bangalore , 15 km from Wipro corporate office.

Development Type: Independent villa

Amenities:-

Swimming Pool

Club House: Party hall, Conference hall,Gym,Aerobics, Indoor games,Library

Kids play area

24X7 Security, Sewage Treatment Plant.

   

Real Estate Market Poised For Recovery in 2016

The Indian real estate market has been treading the slugging path for the last two years. There has been no recovery in buyers’ sentiment as prices remain stable, and there is less hope of capital appreciation in the short-term. 

In 2016, however, most of these factors will turn positive reversing buyers' as well as developers’ sentiments. Here’s a glimpse of how the Indian real estate market in 2016 will look like:

Lowered interest rates: The Reserve Bank of India (RBI) has cut interest rates by 50 basis points in two rounds this year. Though the transfer of benefit by banks to their customers is much slower than expected, a few commercial banks are cutting interest rates for home loan seekers, giving the much needed boost to the sector. The positive effects of these cuts will become much more visible for the property for sale in India by the next year as those who are waiting for much deeper cuts will stop doing so and seal the deals.

Easy payment plans: Developers too are changing track to attract buyers into the residential markets. Builders with large debts and piling inventories are expected to ease the process of property investment with easy payment plans for homes. The prevalence of these schemes will help pick up buying properties in many cities as well as towns.

Tier II, Tier III cities rise: The property in India has witnessed large unsold inventories, a majority of which is in Tier I cities including Mumbai, Delhi, Hyderabad, Ahmedabad and Bangalore. This has prompted most of the developers, both big and small, to head to other upcoming tier II cities like Pune and Chennai where there is higher chance of capital appreciation along with the rising demand for luxury and semi-luxury apartments.

Other Tier II cities, like Indore, Chandigarh, Lucknow, Jaipur, Kochi, Coimbatore and Visakhapatnam, too are experiencing growth. The developments in these towns will be the biggest focus of the developers in 2016.

More affordable units: The change has already happened. A large number of developers are re-drawing their plans to converting 2BHK apartments into 1BHK apartments in India with fewer and simpler amenities. This will end the exclusive growth of luxury condominiums only in all the new locations, creating only posh localities out of most real estate hubs.

Increased FDI in realty: The government is planning 100 smart cities across India and other such projects similar to the GIFT city in Gujarat. These projects have already garnered huge interest in the NRI and other communities. The government has also made it easier for foreign direct investment (FDI) to flow in to Smart City projects. Such kind of money, in the form of private equity or seed funding, is expected to boost investment in the affordable segment, which will lead to growth in the real estate sector.

The sector has been slow for a very long time now. With enough boost from the government, this state of affairs is all set to change in 2016.

For more info:https://www.proptiger.com/guide/post/real-estate-market-poised-for-recovery-in-2016

Peninsula Solitaire - A Premium Lifestyle Villas @ Sarjapur - Chikkatirupathi Road

Peninsula Solitaire - an exclusive gated community, secure, impeccably planned executive villa project located onTindlu Village off Sarjapur, Bangalore. PIDPL has covered up different projects in Sarjapur. The Project features 166 Luxurious villas of various types which range from 1200 - 2000Sq. Ft. to match the different needs of customers.

 PROJECT DETAILS:  Tindlu Village off Sarjapur, Bangalore

·         Total Land Area 10.3 Acres - BMRDA approved  with 45773.2 Sq. Ft of Park Area

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* Position by end of 2016.​

Real Insights: Locality Report SARJAPUR ROAD

To Know the Real Insights of SARJAPUR ROAD click on the below link to know the detailed report on it.

 Real Insights of SARJAPUR ROAD



Report by : Commonfloor.com

Market slowdown proving to be a boon for organised developers

Despite the sluggish market, organised developers are expanding their footprint by buying more land parcels to increase their market share. It seems like a good time for them to buy land and launch projects in the second half of the FY 2015-16, thereby cutting construction costs. Let’s take a closer look at how established developers are making the most of the market slowdown.

According to a recent report by Kotak Institutional Equities Research, organised developers saw a 14 per cent growth in the value of their total sales during the quarter ending September 2015, as compared to the same period a year ago. For instance, Godrej Properties sold Rs 1,480 crore worth of office space during the quarter. HDIL added Rs 200 crore of sales in its residential segment. Meanwhile, organised developers in Bangalore are ruling the charts.

As per findings by Kotak Institutional Research, developers in Bangalore sold more area during the quarter Jul-Sep 2015, as compared to the preceding quarter. Prashant Nath, Associate Vice President, Veez Capital says, “The Digital India campaign has led to tremendous growth in the city. An increasing number of start-ups are shifting base to areas in and around Bangalore.” In addition, leading developers including Oberoi and Indiabulls Real Estate recorded a dip in net debt during this period.

Increased private equity investments and buyer’s trust and confidence in established developers has propelled their growth in the sluggish times. “Improved sales for many organised developers are a result of increased investment by private equity firms,” elaborates Nath. In fact, the dull market is proving to be a blessing in disguise for organised developers across the country.

Under the uncertain times, buyers are adopting a cautious approach and are preferring to stick with less risky investment options available mostly with the organised developers. This is evident from the fact that many among these continued to gain market share during the quarter ending September 2015. On the other hand, new or unorganised developers are likely to exit the market or scale down during a period of inactivity.

According to another report by property research firm Liases Foras, residential sales in top eight metros registered 17 per cent growth in Jul-Sep 2015, as compared to the same period a year ago. Residential sales scaled up in the last quarter as improved sentiments led more buyers to finalise deals on the assumption that the market has bottomed out, explains the Liases Foras report. Repo rate cuts and subsequent reduction in home loan interest rates have also positively impacted the end-user offtake, say experts.

Article by: 99acres.com

Real Estate Sector to See a Turnaround in 2015

By all indications, 2015 will be a turnaround year for the Indian real estate industry.

 As the early days of 2015 coast along, it is clear that the Indian economy is finally turning the corner. With GDP growth pegged at 5.5% this fiscal against 4.7% in the previous financial year, reports indicate that hiring in various sectors will gather traction this year, leading to better job and income prospects for salaried employees. All this augurs well for the Indian realty industry, which was beset with muted sentiments since the feel-good factor had been missing during the past few years. 

The turnaround in sentiment actually began with the election of the NDA Government via a clear mandate in May 2014. Thereafter, a series of incremental reforms and announcements augmented the feel-good factor across India, which benefits Indian industry as well as the real estate sector. Some of these measures include the incentives announced by RBI for infrastructure financing, the reduction in interest rates on home loans, incentives for affordable housing (with Rs4,000 crore being allocated for this), announcement of a framework for REITs (Real Estate Investment Trusts) and relaxation of norms for foreign direct investment in construction. 

The Government’s initiative in relaxing complex FDI norms will help boost sentiment, leading to higher foreign inflows and more liquidity. Cash-strapped developers will find their liquidity problems easing in 2015. One factor consistently contributing to tepid end-user and investor interest in realty offerings has been the high interest rate regimen, which RBI Governor Raghuram Rajan steadfastly refused to lower last year, despite repeated requests from various stakeholders. But with inflation dropping to record lows in recent months, the RBI will finally take a call on reducing interest rates during the first quarter of this year.    

 Considering this scenario, developers are likely to come up with more offerings in the mid and affordable housing segments, rather than focussing purely on premium projects, where the margins are higher but off-take has been slower. These developments will help arouse buyer interest and trigger better sales in residential units compared to previous years. Despite sales picking up in the days ahead, prices will continue to remain stable since high inventory levels need to be reduced. Besides the above, there are other upcoming factors that will spur demand in the days ahead.

With SEBI (Securities and Exchange Board of India) notifying new norms for REITs in September 2014, this year should see the actual launch of REITs in India. REITs will help retail investors put down their money in realty ventures via a safer avenue for returns, while also helping developers improve liquidity even in testing market conditions. There are expectations that REITs could ultimately attract funds worth $20 billion. Whatever the inflow levels, REITs will help facilitate better demand.

The other real estate booster is the Ordinance on the Land Acquisition Act, which has relaxed many of the stringent norms on the consent, rehabilitation and resettlement clauses that had made land acquisition cumbersome and well-nigh impossible. This singular reform possesses the potential to spur new project developments in real estate and other industries. Another legislation awaiting Parliamentary approval is the Real Estate (Development and Regulation) Bill, pending for quite some time.

As and when finally approved, it will foster greater transparency in the sector, facilitate foreign investments and ease problems in raising capital from banks and other financial institutions. Finally, given the Government’s focus on affordable homes for all by 2022, the creation of 100 Smart Cities and infrastructure development across India, the real estate industry has much to look forward to in 2015.

Peninsula Pinnacles - An Apartment Project @ Sarjapur

Peninsula Pinewoods Phase II Villa Plot Project @ Sarjapur

Peninsula Solitaire - A Luxury villa Project at Sarjapur!!!

Real Insights – Sarjapur Road : A CommonFloor Report

With plenty of vacant lands on both its sides, Sarjapur Road continues to offer vast opportunities in residential real estate.

Originating near St. Anthony’s Friary Church in Koramangala, Sarjapur Road goes all the way up to Sarjapur town of Anekal taluk. But the property developments have mostly been taking place in the stretch between HSR Layout and Sarjapur town, a distance of about 18 kilometres. While covering this length, Sarjapur Road touches many bustling localities which offer a blend of properties in the affordable, mid and luxury categories.

Several big companies have invested along the areas in Sarjapur Road to set up their business centres. Having understood the growth prospects, a lot of developers have been cashing on the opportunities sprouting along Sarjapur Road. In order to ease out traffic on Sarjapur Road, the Chief Minister of Karnataka recently announced an expansion of the road in the State Budget of 2015-16. The stretch between Outer Ring Road junction and Dommasandra will be widened on priority basis.


“As part of ‘Real Insights’ into real estate, Commonfloor.com has come up with a detailed report on Real Insights – Sarjapur Road with in-depth analysis based on CommonFloor data.

For a detailed report Click on the below link.

 

 https://www.commonfloor.com/guide/real-insights-sarjapur-road-a-commonfloor-report-51984.html

India to grow at 7.4 per cent in Financial Year 2015-2016, More Rate Cuts in Pipeline..

India is likely to grow at 7.4 per cent this fiscal, slightly lower than the earlier estimate of 7.6 per cent, a DBS report said today adding the Reserve Bank may go for 50 bps more rate cuts amid slower growth and faster than expected pullback in inflation.According to the global financial services major, upturn in growth for the Indian economy would be more gradual, with the consumption and investment turnaround likely to be slower than anticipated.”We revise down our FY15/16 growth estimate to 7.4 per cent (as against 7.6 per cent earlier), inching up to 8 per cent in FY16/17 (as against 8.3 per cent earlier),” DBS said in a research note.

India’s GDP growth rate slipped to 7 per cent in the April-June quarter of 2015-16, from 7.5 per cent in the preceding quarter.”Against the backdrop of slower growth and faster-than -expected pullback in inflation, we revise our rate call to include 50 bps more rate cuts in this fiscal, first of which is likely this month,” the report added.According to DBS, inflationary expectations will stay “tempered” amidst soft commodity prices. It expects the September-December CPI inflation to average around 5 per cent, still below the January 2016 CPI target of 6 per cent.RBI, which has lowered the benchmark rate by a combined 75 basis points so far this year in three instalments, will hold its next bi-monthly monetary policy meet on September 29.

Rate cuts by the central bank will be influenced by the US Fed rate decision and China-linked volatility.”Assuming stable market conditions in the run-up to the September review and fading US hike risks, the RBI is on course to lower rates ,” it said.It further added that if the US hikes interest rates in September, “the RBI will sit on its hands for the time being to allow markets to stabilise and price in further rate increases, before pushing domestic rates lower.”

7 Real Estate Trends To Watch Out For This Year..

Residential plots to rule the roost  

Unlike conventional market trends, residential plots are gaining prominence amid property buyers. Buyers prefer to buy plots for attractive returns in the mid-to-long term horizon.  

This can further be justified by the fact that they are now considering upcoming smart cities, where apartment culture is yet to catch pace. Also, for the development of these smart cities, smaller areas in the peripheries are being identified.  

As this concept is yet to take off in most areas, plots tend to have become a strong investment option.

Industrial corridors to boost infra growth in hinterland  

Cities falling along the major industrial corridors are expected to see immense growth in the coming years. As each corridor passes through various existing industrial clusters, towns and cities, these are likely to become investment hubs.

Thus, once completed, the real estate growth at India’s hinterlands, connected via these corridors, will be exponential. 

Affordable Housing wil be the buzzword  

Affordable housing has become the talk of town ever since BJP, in their manifesto, promised ‘housing for all’ by 2022. Post the budget, that opened a jackpot for affordable housing with a mammoth budget of Rs 4,000 crore (Rs 40 billion) and tax incentives for home loans, the mission got another facelift.  

In July 2014, RBI also tweaked the definition of affordable houses. As per the changed norms, home loans up to Rs 50,00,000 in metropolitan cities and Rs 40,00,000 in non-metro cities will now come under the purview of affordable housing.  

Small is beautiful

Smaller property sizes are now taking precedence over larger units across the metros. Large swanky homes that are huge on maintenance are no longer an attraction for several metropolitan buyers.  This was also validated by our recent survey where maximum people preferred property sized 800-1,200 sq. ft.

‘Smart City’ tag to boost realty prospects

‘Smart Cities’ is the latest buzzword that has created a wave in the country.

Thus, a lot of development will be seen in and around these cities. Survey findings indicates the ignited interest of buyers towards these potential cities.

It is interesting to note that about 32 per cent respondents showed interest in upcoming smart cities for investment.

While several cities have been proposed, few areas within the cities have also been identified.

Investors back on realty Map

With FDI in construction becoming a reality, the year 2015 will see the return of real estate investors.With no three-year lock-in period, the major hurdle for the overseas investors is removed. Thus, now an investor can exit once the project is completed or after the complete trunk infrastructure development.

Bangalore & NCR: High Demand for Ready-to-Move-in properties

Increased demand for ready-to-move-in properties is another major trend that was noticed in 2014 and is likely to continue in 2015 as well. Inordinate construction delay has pushed demand for ready-to-move-in projects significantly, primarily due to the increasing pressure of EMI plus rental values. 

Sarjapur - A good place for Investments.....

Good connectivity, worthy properties, fine location – you name it, Sarjapur has it, Know more about this popular residential hub.

Sarjapur is a fast-developing part of Bengaluru with good connectivity to key IT cluster areas like Whitefield, Electronic City, Outer Ring Road, Marathahalli and Koramangala. As a micro-market, Sarjapur is booming, thanks to rapid development in terms of commercial and residential spaces.

Plus factor

Sarjapur’s connectivity to IT hubs and its location along the Outer Ring Road (ORR) is what makes it an excellent destination for residential and commercial developments. “There are about two lakh employees working in the Outer Ring Road stretch making Sarjapur Road a busy IT corridor. Home buyers enjoy the convenience of living close to their work place. Another good reason is that real estate prices on Sarjapur Road have been more affordable compared with certain  similar upmarket counterparts.

Sarjapur is emerging as one of the most promising markets for villa projects in Bengaluru. “The density of population in the Sarjapur area is high vis-a-vis other well-developed areas. However, this can also be advantageous, as any investments will lead to sharper price appreciation, spurred by robust demand in the local market.

“The primary advantage of the region is that land is available at a cheaper price and primary work has been done by IT companies already,”adds J C Sharma, vice chairman and managing director, Sobha Limited.

Price talk

Availability of large land parcels for both commercial and residential development makes Sarjapur an attractive proposition. “This location has about eight multi-storey apartment projects, which are actively selling with around 2,400 units and another 1700 units yet to be sold. Residential prices have appreciated by about five to ten per cent in this location, depending upon the type and quality of the projects,” says Trivita Roy, assistant vice president, Research and REIS, JLL India. In addition to this, the residential market in the locality is primarily driven by the end-user demand, especially from the IT sector employees.

“The capital values range between Rs 4,500 and 6,300 per sq ft, and the rental values range between Rs 20,000 and 35,000 for a two-BHK configuration and Rs 30,000 and 45,000 for a three-BHK configuration. This micro-market has witnessed a capital and rental value appreciation of five to seven per cent in the last one year,” avers Sanjay Dutt, executive managing director of Cushman & Wakefield, South Asia.

With significant Grade A office space supply in the pipeline and a rise in affluent employee base in this part of the city, the demand for housing is likely to sustain in the years to come. “A good portion of the demand is expected to drive sales in the mid-segment housing category in this sub-market in the near term. There are more than 40 apartment projects across categories of developers available in this market, with prices ranging from Rs 2500 per sq ft to Rs 7000 per sq ft.p.

Pros & cons

If you look at the growth thrust, it has been towards South and East Bangalore in the recent past and while saturation is being witnessed in other areas, this region is still seeing huge development and new project launches at a rapid pace. This is because of the potential in the area and the ample space available for development.” In last one year, average prices in Sarjapur Road have increased from Rs 4,281 per sq ft to 4,545 per sq ft, thereby registering six per cent annual growth.

Accessibility and availability of social and physical infrastructure are Sarjapur’s strongest attractions. “The Infosys SEZ Tech Park is located in Sarjapur. Also the locality is known for its greenery and Billapura Lake. It is also an educational hub and houses Bangalore Technological Institute, ITM Institute of Hotel Management, Bangalore College of Engineering and Technology.

While the ORR itself is a significant civic infrastructure project that connects Bengaluru laterally, connectivity was further heightened with the signal-free corridor initiative, cutting travel time considerably. Most of the high traffic junctions now have flyovers or underpasses. Kumar A, senior manager - sales & marketing, Soul Space Projects Limited adds, “This area allows the residents to travel to different parts of the city with ease and speed, as this locality provides an easy connectivity to NH-207 (towards Hoskote/Kolar) and NH-4 (towards Hosur), which makes commuting to offices and schools easier.”

Traffic congestions at a few major intersections and poor development of internal roads and issues with water supply are major constraints. The infrastructure in the area has aided in boosting office space demand.

“Despite being such a high-end market, one of the major drawbacks in the area is the lack of traffic management. Given that the area is densely populated with residential and commercial properties, there has to be efficient road network and traffic management that is the need of the hour.

Will 2015 be the year of recovery for real estate market in Bengaluru?

Can 2015 be the year of recovery for real estate market in Bengaluru? 

In fact, a December-2014 Pan Indian real estate survey of Indiaproperty.com in Bengaluru, Delhi NCR, Mumbai, Chennai and Hyderabad says that “Everybody wanted a change and 2014 saw the formation of new the governments. Many impact areas such as real estate, stock markets, fuel and gold prices were buoyed by positive sentiments. These changes paved way for 2015 which is expected to be the year of recovery”.

The survey says that a major buying trend that can be seen in the real estate industry, include high proportion of end-users looking for mid-segment properties, buyers giving importance to infrastructure, presence of public transport and security before deciding the locality. Nearly 64 per cent of prospective buyers who participated in the survey in Bengaluru have expressed an increase in confidence in real estate.

The top localities that have generated a lot of interest among buyers in Bengaluru are Sarjapur, Sarjapur road, Kanakapura Road, Electronic City, Whitefield, Marathahalli - ORR Road, Close to 78 per cent of the respondents contacted in Bengaluru during the survey were looking for a property for end-use and 60 per cent of buyers are first time home buyers.

When it comes to purchasing property, apartments continue to be the most popular choice among buyers in Bengaluru and elsewhere. More and more property seekers are also looking for affordable housing. Demand for properties under Rs. 30 lakh has increased in most of the cities across India. Close to 44 per cent of the buyers in Bengaluru prefer properties below Rs. 30 lakh. Only 27 per cent of persons in the survey were looking to invest on land in Bengaluru.

PropEquity Research of Top 10 Cities of India...

http://beta.propequity.in/MonthlyReports/Top_10_cities_~_PropEquity_Research.pdf http://beta.propequity.in/MonthlyReports/Top_10_cities_~_PropEquity_Research.pdf

Despite 30% drop in sales, home prices will not go south in 2015-16. Here's why....

Even an expected pick up in the country’s economic growth in fiscal year 2016, wouldn’t be enough to prod the common man to buy is dream home due to persistently high prices of residential properties, rating agency, India ratings said.

Home prices are unlikely to correct from the current higher levels in 2015-2016 even as inventories are being piled up with investors pumping in money raised through debt and other hybrid instruments, India ratings, formerly known as Fitch India, said.

“Property prices have remained high and unaffordable to end-customers. While economic growth is likely to improve in FY16, property prices might not correct. This could lead to end-customers postponing purchase decisions,” India Ratings said.

Even property consultant CBRE on Tuesday pointed out that  housing  sales fell by about 30 percent last year in seven major cities due to costlier flats and higher interest rate.

The general slackness in residential sales was primarily triggered by the Affordability Index going down in certain cities, CBRE said.

Property consultant Knight Frank added to the gloom on Thursday when it pointed out in a report that residential launches and sales were at a three-year low during the December quarter across the six tier-I cities— NCR, Mumbai, Kolkata, Bangalore, Chennai and Hyderabad.

According to the Knight Frank report, new launches have fallen by 43% in Mumbai, followed by Hyderabad that saw a 30% drop. NCR saw a 24% in the number of project launches in 2014 compared with 2013, Bengaluru 13%, Pune 26% and Chennai 25%.

Consequently, brokerage do not  expect real estate companies to see a revival in home sales. The agency, however, expects a pick-up in demand for both office and retail spaces during fiscal year 2016 “because better economic growth will boost net hiring by IT/ITeS and banking financial services insurance sectors and better customer sentiments will revive the expansion plans of both local and foreign retailers.

According to the assessor, any improvement in demand for houses will depend on “not only a positive change in consumer expectations of economic growth, job and income prospects but also lower property prices”.

On the other hand, even though the demand in the residential space is likely to remain subdued, the companies are likely to continue building up inventory levels using bank funding, the agency said.

Property Guidance Value Set to Rise by Up to 30 Percent From October....

From October, buying property could get costlier as the government has decided to revise its guidance value across the state.

  

Guidance value refers to the minimum value at which a property sale can be registered. The Stamps and Registrations Department has already started the process. Sources said the increase could be to the extent of 30 per cent. In Bengaluru, the hike will naturally be on the higher side, given the astronomical real estate rates. The department has already worked out the revised values and is now in the process of consulting stakeholders. The government has called a meeting of the Bruhat Bangalore Mahanagara Palike (BBMP), Bangalore Development Authority (BDA), Bangalore Metropolitan Rural Developmental Authority (BMRDA) the Confederation of Real Estate Developers’ Associations of India, and others on Friday.

Till 2011, the government used to revise the values once in three or four years. But they are being revised every year since 2012 to bring them up to at least 70 per cent of the market value. The government indicates guidance value to ensure that buyers and sellers do not cheat on payments to the government by undervaluing a property. Leena said the department would soon announce the new rates and call for objections. After due process, the new rates will come into force. However, he refused to give details about the hike. The values were revised last in November 2014. Though the yearly revision can yield income for the state, it is bound to pinch property buyers, particularly those from the middle and lower class, as sellers hike rates by factoring in the amount payable to the government.

For more info on this, check the link: http://www.newindianexpress.com/cities/bengaluru/Property-Guidance-Value-Set-to-Rise-by-Up-to-30-Percent-From-October/2015/09/04/article3009827.ece