What is the Future of Real Estate Property in Gurgaon?

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gurgaon property, gurgaon property for sale, properties in gurgaon, property in gurgaon, rental property in gurgaon

With the fall in the prices of residential property in Gurgaon by 25% in 2015, there was little boost see in the city. This millennium city has been a bellwether of growth in Indian realty due to the existing and coming off numerous multinational companies. However, there is an expectation of change in the market scenario in 2016.

Experts believe there will be a visible change that will be seen in Gurgaon properties. This change,however, will not take place overnight but with the changing scenario, there will be a change in the pricing trends that will begin to pick up again in Gurgaon. One major factor for this change is the cutting down of the interest rates on easing of FDI norms on real estate, higher economic growth, home loans, and other government initiatives.

Not only Gurgaon but whole NCR also witnessed the highest unsold inventory in the country. These unsold inventories went up to 1, 70,000 units. Out of these, a total of 22,000 Gurgaon properties were unsold as well as 30% of these unsold inventories are under construction. All these have been the major effects that the slowdown in the real estate sector bought along with it.

Over the years, the slow economy and sky-rocketing prices have been the primary reasons for this fall of the property in Gurgaon. During this period, the buyers were waiting for the prices to come down whereas the investors did not want to invest any more money with no clarity on the returns. Liquidity crises have been another major factor for the increase in the unsold inventories. This reason has forced the developers to offer schemes, discounts, and freebies to lure buyers. There has been a visible decline in the prices by around 25%. This, however, was not sufficient for bringing back the boom in the demand for Property in Gurgaon. In other words, we can explicitly say that the real estate market of Gurgaon is currently the buyers’ market, most buyers till date does not find it to be attractive for them to invest in Gurgaon properties.

On the positive side, this millennium city has seen maximum numbers of new launches within Delhi NCR. Under the Haryana Government’s Affordable Housing Policy 2013, the highest launches were in the affordable housing category. These affordable homes prices under Rs 25 Lakh where the buyers have demanded the primary interest. Whereas the properties priced beyond Rs 3 crore saw a steady decline.

Projects launched in 2009-10 catered majorly to the unsold inventories. Many of these projects are not even complete due to the liquidity crises. This in return has resulted in the decline of new launches by 30-35 percent on yearly basis. This has proved that the future of the real estate sector in Gurgaon is soon going to be back with a bang and buyers and investors would invest in the residential and commercial properties in Gurgaon.

What is the effect of Real Estate Bill on Neemrana ?

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neemrana property, neemrana property for sale, properties in neemrana, property in neemrana, rental property in neemrana

Neemrana is one of the fastest growing city on the real estate front. It has been well-planned by the government under the Neemrana Master Plan 2031 which will have a positive impact on the realty sector in this industrial hub. One major decision by the government taken recently called the real estate bill have effect on almost all cities. Here, let’s discuss what all consequences does it has on Property in Neemrana.

Actual photograph for advertisements

As per the law, the builder will have to use only real sire picture or actual construction work pictures for publication the projects. Builders cannot use any fake picture for promotional purpose.

Price as per carpet area

The Bill says that prices should be linked or charge only carpet area to the buyers. Carpet area is the net usable area where we use for our living purpose. The area which is provided for the parking area, gym,garden, staircase, doors, other amenities are said to be a super built area. So, when builder allotted project they mention all super built area instead of carpet area and because of that price become low compared to super built up area sq.ft. After getting the project, it realizes that how we have to pay to the builders.

Different rules for every state

It is mention that there is set up to the central body for individual states should have their state regulators. This elaborate, there is guidelines for real estate sector and builders, the authority of state will focus on regulating real estate builder. I assume it might create a confusion to both builders as well as buyers.

Registration of Builder and Dealer

Before the bill there was no registration with any central or state body, there is no definite standard for any code of conduct or services. Now, they have to register themselves along with distinct responsibility and functions.

Separate bank account for every project

As notify by the state government, a builder will have to maintain the separate bank account for each and every project. Up to 70% of the fund has to be there in the bank account.

On time delivery

According to real estate bill the builder has to refund money if he fails to deliver the project on time.Being a consumer we have to seek that points gets added to the every agreement of the project and make sure that this point is omitted in agreement if it is not then you file a consumer court and afterwards, you are rewarded with your rights.

The realty bill may or may not be in favor of the cities or developers or buyers but it definitely has bought along transparency in the real estate sector. Thus, buying property in Neemrana will be much planned but it will be worth to follow all the new rules and regulations implemented by the government.

 

 

 

 

Why invest in these five localities in Gurgaon?

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Gurgaon, being a part of NCR and near to Delhi, makes it an attractive option for the property buyers. Especially along the Delhi-Jaipur Highway the developments are expanding as there is not much land available in Delhi. There are a lot of developments of residential and commercial Property in Gurgaon along the National Highway 8 and Dwarka-Gurgaon Expressway.

Irrespective of all these developments, the millennium city still suffers for better infrastructure majorly in area of water and power supply, roads and sewage management. The city planners needs to take up corrective steps to improve the conditions of the infrastructure and put the civic amenities at their up-most priority. However, the popularity of the city is not affected by these inappropriate infrastructure and investors are open-heartedly investing in Gurgaon properties.

In Gurgaon, there are certain specific areas where the investors and end-users are eagerly investing. These include:

 

 

 

 

 

 

Manesar

Also known as ‘New Gurgaon’, this location is around 30 kilometers from the International Airport. Manesar is famous for being the industrial hub in the Gurgaon district and in the last couple of years it has transformed from a sleepy village to one of the fastest growing townships. The government has also taken up the initiative to coming up with the Gurgaon,Manesar Master Plan 2031 which ensures planned development of Manesar.

Dwarka Expressway

The area along the Dwarka Expressway is also picking up pace as there is rapid developments taking place into the locality. Along this busy expressway, the government has planned to open new sectors under the Gurgaon Master Plan 2031.  Massive developments of luxury apartments can be witnessed along the expressway and this will connect to Pataudi Road, making it easy to commute for the residents.

Sohna Road or Greater Gurgaon

One of the most promising location in Gurgaon is the Greater Gurgaon or what we used to call earlier Sohna Road. Many renowned developers are developing in the residential and commercial property in Gurgaon’s landmark location.  Many reputed developers have already started taking up huge land banks for developing residential projects as well as for Special Economic Zones.

Golf Course Road

One of the premium locations amongst the developers is the Golf Course Road and Golf Course Extension Road. Currently, these are the most expensive locality in Gurgaon which connects to Sohna Road and is host to numerous corporate offices and housing projects. The developers and buyers are hopeful for this location and are heading towards this locality.

 

 

Where to rent Affordable Properties in Gurgaon ?

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gurgaon in property, gurgaon property, gurgaon property for sale, properties in gurgaon, property in gurgaon, rental property in gurgaon

The millennium City, Gurgaon is one of the most expensive cities in the National Capital Region. The entering of the large migrant population to the city, it is becoming the most sought after destination that is geared more towards the investors. For the offshore investors, the city has become heaven with the rental yields in Gurgaon. Also, with numerous corporate players and MNCs entering the city, it has witnessed an increase in the demand for rental properties in Gurgaon. Here, we bring you some promising locations preferred by the professionals in Gurgaon where you can rent properties majorly by the economical rates.

New Buy Property Gurgaon and Dwarka Expressway

Properties in Gurgaon’s New Gurgaon are spread over 1,000 square feet. The estimated cost of the region is from INR 6,700 to 10,000 per month. These rates vary depending on the amenities offered by the property owners in the region.

When we talk about Dwarka Expressway, it is no doubt that the region is said to be the most bustling stretches among the National Capital Region and is brimming with numerous real estate opportunities.
The 2 and 3 BHK apartments in Gurgaon’s Dwarka Expressway are rented out for INR 10,000/month. The reason for these inventories have low rentals is the limited access to the public transport in the region. If you have a personal vehicle, this location is the best suited place for you.

Sector 56 and 57

Rental properties in Gurgaon Sector 56 and 57 are in demand due to the great network that the location offers. It is in vicinity from Golf Course Road, Iffco Chowk, Golf Course Extension Road, Hero Honda Chowk and MG Road which has created a challenging rental market here.

The residential colonies and local markets have attracted numerous families to rent property in Gurgaon Sector 56 and 57. The rental for 1 BHK apartments fall between INR 18 to INR 32 per square feet every month. The real estate market have strengthen into the region as it also has great connectivity to National Highway 8 and Faridabad.

Sushant Lok

A well-established locality called Sushant Lok might push you back much more than INR 10,000. To your surprise, 1 BHK properties in Gurgaon Sushant Lok is spread over around an area of 300 square feet with an average rental cost of INR 7,000 per month. Due to the seamless connectivity of the region the rental prices are expected to escalate further. The network towards Huda City Center Metro station as well as the proximity to National Highway 8 strengthens the demand for real estate in the locality. The area is an ideal destination for IT professionals and bachelors as it offers Room and Kitchen apartments as well as studio apartments.

All these three localities are witnessing high demand for Rental Properties in Gurgaon and soon this demand is expected to increase with the coming of numerous corporates into the city.

 

Are you in the Race of Buying Branded homes in Gurgaon?

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gurgaon property, gurgaon property for sale, properties in gurgaon, property in gurgaon, rental property in gurgaon

For a long time now, the real estate sector in India has been witnessing a downturn. However, at least one of all the segments seems to be bucking the trend, now-a-days, branded homes! The buyers are investing in buying luxurious apartments in Gurgaon which are combined with lavish hospitality serviced by five star hotels like Hyatt, Le Meridian and JW Marriott to name a few. Apart from these services many branded apartments in Gurgaon are offering joint ventures with reputed and renowned fashion houses which design the interiors of the residential property in Gurgaon.

The industry experts believe that the branded homes among the Gurgaon properties is gaining a lot of prominence for a simple reason that they are offering something different from that of the crowded market along with the element of quality and trust of the sector. This, however, started losing its credibility of the delayed projects and substandard construction work.

The real estate market over the years has gradually turned to a buyer’s market from a seller’s market and that is what is driving the demand for branded homes. The buyers are now comfortable in going for a trusted name than for fascinating and luxurious facilities like swimming pool, and club house.

Residential Property in Gurgaon is offering first-hand experience of the celebrity lifestyle under Gurgaon based Homestead boutique Branded Residences. These residences thus attracts NRIs and HNIs as these are exposed internationally and the buyers look for such international class of ambience and residences in Gurgaon.

 

 

 

 

 

Neemrana: The Royal City offers royal return on Investment

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neemrana property, neemrana property for sale, properties in neemrana, property in neemrana, rental property in neemrana

Neemrana has been well-known for its royal and ancient Fort. Millions of people come from all over the country and overseas to understand and realize the tremendous beauty of Neemrana fort through its architectural achievements. Neemrana has developed itself as a tourist destination and now is developing into an industrial hub. The city is rapidly growing towards becoming a developed real estate city in India.

The residential and commercial Property in Neemrana is picking up pace due to the favorable investment conditions that this industrial hub called Neemrana is offering. There has been an increasing demand for housing projects in the city from both, investors as well as end-users. There are numerous new firms that are opening up in the city whereas many existing firms are expanding due to the favorable conditions of Neemrana properties.

For instance, India’s largest two-wheeler company Hero is planning to invest 5000 Cr in constructing a manufacturing center in the city. Apart from numerous reputed companies of the nation, there are many international companies that are entering the city and attracting the investors, developers and buyers to invest in property in Neemrana. One such company is the Japan external trade organization which is coming up with its manufacturing hub amongst many other commercial property in Neemrana.

Property in Neemrana is developing with the coming up of the industrial park which is spread over 3500 acres of land. Along with this, there are numerous affordable housing properties in Neemrana which are said to be offering extraordinary features and amenities for the end-users.

Definitely, the rapid development of the city makes it a favorable and profitable option for the buyers. There are numerous residential and commercial properties in Neemrana which will attract the buyers and offer them good returns in the future.

 

How to identify desperate deals Property in Gurgaon?

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gurgaon property, gurgaon property for sale, properties in gurgaon, property in gurgaon, rental property in gurgaon

The millennium city, Gurgaon is one of the cities that is at the top rank to invest in the real estate industry. The city has many promising and flourishing places which are attracting a lot of investors, developers and end-users. For investing in property in Gurgaon, one must know and understand what all places are offering the best deals and invest in them after understanding the real estate scenario in the country.

One such promising location is Sector 110A which recently got its revised layout plan that would provide alternative plots to around 528 oustees of another booming location in Gurgaon called Dwarka Expressway. This revised plan accommodates almost 500 oustees whereas others will be getting plots in Sector 37C.

June 2016 has been set as the deadline by the CM for completing the most promising location for the buyers of Property in Gurgaon, Dwarka Expressway which is an 18 km long road. Out of the total 18 km only 14.33 km have been completed till date.

 

 

 

 

 

 

 

Haryana Urban Development Authority (HUDA) has provide alternative plots through many means one of which is land pooling. The authorities have proposed two categories, one, people those have opted out of the land pooling and second, the one who want pool land. However, this has not yet approved by the government. The authorities have also been directed to accommodate oustees who have applied for under land pooling and people who have small sizes of the plots especially in Sector 110A.

People who have applied for pooled land will get accommodation in Sector 110A whereas others will be accommodated in 460 plots of which 361 plots will be available in Sector 110A as well as Sector 37C. The only thing that is stopping the authorities is the court orders. Once they get the approvals, they can take the following steps and if it is not approved they will again revise the plan. Definitely, these changes in the layout will have effect on the Gurgaon properties though one has to wait to know the final result of these revised layout plans.People who have applied for pooled land will get accommodation in Sector 110A whereas others will be accommodated in 460 plots of which 361 plots will be available in Sector 110A as well as Sector 37C. The only thing that is stopping the authorities is the court orders. Once they get the approvals, they can take the following steps and if it is not approved they will again revise the plan. Definitely, these changes in the layout will have

People who have applied for pooled land will get accommodation in Sector 110A whereas others will be accommodated in 460 plots of which 361 plots will be available in Sector 110A as well as Sector 37C. The only thing that is stopping the authorities is the court orders. Once they get the approvals, they can take the following steps and if it is not approved they will again revise the plan. Definitely, these changes in the layout will have effect on the Gurgaon properties though one has to wait to know the final result of these revised layout plans.

Real Estate Industry’s Expectations from the Union Budget 2016.

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india real estate industry

One of the most eagerly-awaited annual event is the Union Budget, as the decisions and allocations announced by the Financial Ministry have immense pertinence to industries as well as Individuals. Real Estate is one sector which is a little sensitive to the policies for individuals as well as industries. As the Real Estate sector is still emerging from painful and prolonged slowdown and is expecting all sorts of help from the Financial Ministry and thus makes the Union Budget 2016 more critical for Real Estate market.

The primary thing that lacks in Real Estate market is the investment money and due to unaffordable terms of banks. If the home loans in India are made affordable then the stay on the investment money of the investors will vanish thus producing the inflow of money in the real estate and making the project completions faster in turn making the development rigorous. Real Estate looks for the interest rates on home loans to be reduced to about 7.5 percent. This can be one expectation if considering the statement made by government stating it wants to make housing for all Indians a reality till 2022.

Exemption of the taxes such as Value added tax (VAT) and service tax over stamp duty and registration charges can be better for the sector. Also goods and service tax (GST) can be used to replace the former ones.

The amount of registration tax and stamp duty applied on the cost of purchase in case of properties is about 6% in most of the cases and should be reduced and as an alternative slab based approach must be introduced to ease tax component on the middle segment. Also tax deduction limit on housing loan is currently Rs. 2 lakh which is very small as compared to the prevailing property rates. To match the inflationary trends in a financial year the limit should be focused upon and enhanced.

Real Estate Regulatory bill is expected to be a reality this year by the real estate industry so that the industry can avail the benefit of an apex body through which all concerns can be addressed transparently.

Tax concessions on house insurance premiums should be introduced to encourage end users. Even though the REITs guidelines have already been laid out, due to Dividend Distribution Tax bottleneck it has not been able to attract much interest from the Indian Real Estate Industry. The tax exemptions may further increase the inflow of investments in this sector making Real Estate Industry a bit stable in the coming year.

Implement these tricks to make your home look bigger -BuyProperty

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gurgaon property, gurgaon property for sale, properties in gurgaon, property in gurgaon, rental property in gurgaon

Property in Gurgaon are picking up pace. Whether it is a villa, penthouse, 3BHK or a small unit, people are willingly buying property in this area which is one of the most promising city for the buyers. Definitely, everyone wants to buy a bigger home but not everyone can afford it.

How about some quick and easy tricks that will help in making your home look better. No matter how big your home is at some point you will feel that the walls are closing in on you. Thus, here we bring you some tricks that will help you make your home look much bigger in space than it actually is.

One such trick is striped floors which makes the room look to go on for miles. Also, make use of big mirrors which make everything look bigger or will at least fool the eyes. Use a trio acrylic nesting tables which provides endless surface space without cluttering a room visually. Make us of large furniture, something that matches the color of your wall. This brings consistency in the room and it looks bigger.

Cleanliness is the key, keep your home clear out clutter. This will of course keep the room tidy. Also, make use of shelves that will automatically cut down unnecessary things from the area. Only the decorating stuff should be visible which enhances the look of the house and other things are better off under the shelves.

The walls of your homes can do miracles if painted correctly. Make use of lighter shades in your walls these are any day better than those dark colors which makes the room look cozy but they also makes an illusion of less space. Light colors are better as they reflect and multiply light while the dark colors engross light.

Remember, less is always more. So, don’t just overdo things. Do not showcase everything at one go, instead keep things rotating to give your home a better, decent and less messy look. Why not rotate things seasonally, it will give a fresh and new look to your home and make it look better, brighter and bigger. Opting for storage furniture is also a great option.

Currently, Properties in Gurgaon are opting for these quick tricks that makes the luxury residential apartments look bigger and this is the new trend that is followed by residents in the metropolitan city, Gurgaon.

Delay of Infra Projects in Gurgaon -BuyProperty

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gurgaon property, gurgaon property for sale, properties in gurgaon, property in gurgaon, rental property in gurgaon

Gurgaon property has added itself into the list of cities those have delayed in providing the infrastructure of the project on time. Though there was seen good performance by the city on the commercial front.

2015 have turned out to be a year of slowdown for demand of the residential market in Gurgaon along with the infrastructure and connectivity crisis which further added to the situation and made it worst. Gurgaon is said to be the worst hit in NCR in terms of the unsold residential inventory. Also, according to the reports, the unsold inventory went up to 1.7 lakh units with around 90,000 units’ under-construction which are likely to face delays.

There were large inventory that piled up in Gurgaon despite the price correction and an addition of lack of civic infrastructure in new areas of 58-115 worsen the situation of residential sector in Gurgaon.

Apparently, Gurgaon gets 70% of the total Haryana’s investment along with 26% sales tax and 24% of state’s VAT. There has been delay in the projects announced by the city’s Chief Minister as out of 889 projects Gurgaon got only 48 projects. The connectivity to the area is also being delayed, as all the major expressway projects were delayed. These include Dwarka Expressway, SPR, KMP, Gold Course Road and Cyber city. Also, the Dwarka-Iffco Chowk metro connectivity could not become a reality. Another major factor that affected added to the dropdown was the city losing in the smart city race from Faridabad and Karnal.

However, there were some bring side as well. This includes the commercial real estate market which performed pretty well. Also, there was a major boost to the affordable homes as there New Integrated Licensing Policy 2015 gave the promise to dwell 2.7 lakh new residential units in South Gurgaon in Sohna. Home buyers got some relief as some buyers come up with the houses under 20 lakh under the government’s Affordable Housing Scheme. This, definitely be a step towards the progress in property in Gurgaon.