Sale Price Trends for Multistorey Apartments in Bangalore

Those moving to Bangalore often decide to stay back because of the urban lifestyle offered along with pleasant weather. Each micro market in Bangalore located close to IT parks or commercial properties is self-sufficient because of the walk to work culture prevalent in the city. From schools to grocery stores and ATMs, you can find amenities at a stone’s throw from your home.

The permanent residency that most moving to the city desire is what is boosting the city’s real estate scene along 

Multistorey Apartments in Bangalore

with the burgeoning population of NRIs moving to the city. In fact, Bangalore has been classified as one of the fastest growing real estate market. The configurations offered in Bangalore are a mix bag of

 apartments, row houses and villas. Most developers in Bangalore, such as the Mantri Group offer multi-storey apartments where the properties are developed in the form of several towers, each housing scores of apartments.

For instance, the Mantri Energia close to Manyata Tech Park offers 2.5BHK and 3BHK apartments in various towers spread over the 11 acre area. The apartments are spacious (all of them measure more than 1000 sq. ft.) and well aerated and lit. The cost of a 2.5BHK apartment is Rs 69 lakhs approximately while for a 3BHK apartment you have to shell out Rs 75 lakhs approximately.

The standard rate per square foot hovers around Rs 4500 in this area. For areas such as Sarjapur Road, the property, pricing is almost Rs 87 lakhs for a similar 2BHK apartment. Most of the areas in Bangalore are priced within the band of Rs 70 lakhs to Rs 80 lakhs for 2BHK properties, with the average rate per square foot around Rs 5000 or so. There are a couple of areas like Madivala and Naganathapura where per square foot rate is significantly lower than the prevailing average. It can be safely said that Bangalore specialises in community housing where amenities such as gymnasium, clubhouse, crèche, children’s play area, jogging tracks and even indoor games rooms are offered within. Home owners can find every avenue of relaxation and entertainment within the premise, without having to go out for anything else except work.Multistorey Apartments in Bangalore

NRIs too prefer staying in these areas as they offer them lifestyles which they enjoyed while living abroad. In the third quarter of 2014 it was seen that the price trends in Bangalore were more or less stagnant with the exception of a few areas such as Banashankari, Old Airport Road and Amrutahalli etc. Unlike larger cities like Delhi and Mumbai, Bangalore is yet to undergo the mass scale price correction.

Most people prefer to buy properties which are close to IT parks (main sources of employment), which is why flats in HSR Layout, Sarjapur Road, Electronic City, Bomanahalli and Whitefield are much in demand. NRIs and frequent travellers prefer staying close to the railway station at Yeshwantpur such as in Malleswaram whereas others who use the airways are snapping up flats in Yelahanka and Devanahalli. With an increase in employment as forecasted this year, the sale of apartments in multi-storeyed buildings is set to increase in Garden City.

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A Complete Home Loan Guide for NRI’s

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Buying a home for an NRI has always been the biggest challenge, especially identifying the right property sitting thousands of miles away. In addition to that the availability of the right information has almost been impossible, unless she/he is visiting India and have enough time to investigate, identify and shortlist during their short stay.

Traditionally, NRI’s have relied mostly on friends, family & relatives to get information in identifying the right property. But, with time property advising has evolved beyond the brokers and numerous online companies with huge investments have started realizing the potential of NRI market. They have developed processes which guide the prospective buyers from the scratch by asking relevant questions, like the purpose of buying a property, budget, how they plan to finance it.

Financing a property purchase through loans has its own challenges and involves lot of paperwork which delays the whole process.

Though NRIs can avail loans by mortgaging an existing a residential property; however there are certain conditions that the NRIs need to fulfill in order to avail the home loans.

  • Age – The minimum age for a loan applicant is 18-21 years age. And maximum age limit is 60 years or retirement age (whichever is earlier) at the time of loan maturity.
  • Qualification – The minimum qualification of the loan seeker has to be that of a graduate.
  • Income – The loan applicant has to have a minimum monthly income of $2,000 (This criterion may differ across HFCs). Moreover, the eligibility is also determined by the stability and continuity of your business or employment.
  • Payment options – There are the Equated Monthly Installments which the NRI needs to route through cheques or his NRE/NRO account. Making payments from another source say, his savings account in India is not allowed.
  • Number of dependents - Another aspect for NRI Home Loans is that the eligibility of the applicant is also determined by the number of dependents, assets and liabilities.

 

General guidelines for availing Home Loan

  • Based on the repayment capacity and the cost of the property, an NRI applicant is eligible to receive a home loan that ranges from a minimum of Rs 3-5 lakhs to a maximum of Rs 1 crore, this again is subject to variables depending on the priorities of the home loan.
  • A loan applicant can be eligible for a maximum of 85% of the cost of the property or the cost of construction as applicable and 75% of the cost of land in case of purchase of land, based on the repayment capacity of the borrower.
  • Besides, the Home Loan Tenure for NRIs is different from Resident Indians.
  • A NRI can also enhance his loan eligibility by applying for home loans with a co-applicant who has a separate source of income. Also, the rate of interest for home loans to NRIs is higher than those offered to Resident Indians. There is a difference which varies from 0.25%-0.50%. Some HFCs also have an internally marked 'negative criterion' for NRI home loans. As such, the NRIs who hail from locations that are marked as being 'negative' in the books of HFCs, find it difficult to procure a home loan.
  • The cost of dwelling unit which is own contribution financed less the loan amount, can be met from direct remittances from abroad through normal banking channels, the Non-Resident (External) [NR(E)] Account and /or Non-Resident (Ordinary) [NR (O)] account in India.
  • However, repayment of the loan, comprising of the principal and interest including all the charges are to be remitted to the HFC from abroad through normal banking channels, the Non-Resident (External) [NR(E)] Account and /or Non-Resident (Ordinary) [NR (O)] account in India.
  • The repayment option for NRIs as they can pay through the funds held in any non-resident account maintained in accordance with the provisions of the Foreign Exchange Management Act, 1999, and the regulations made by the RBI from time to time. As most of the home loan provider companies consider the economic stability of the applicant, home loans for NRIs are quite feasible, because they are well in economic resource.

Now comes the most crucial part of the entire process that is the documents required for a Home Loan. NRIs need to submit the following documents and these are different from those of Indian residents.

  • Passport and Visa
  • Bank Statements for the last six months
  • The labor card/identity card (translated in English and countersigned by the consulate) if the person is employed in the Middle East Salary certificate (in English) specifying name, date of joining, designation and salary details.
  • Valid work permit
  • A copy of the appointment letter and contract from the company employing the applicant
  • Another document of vital importance that is required while processing an NRI home loan is the power of attorney (POA). The POA is important because, since the borrower is not based in India; the HFC would need a 'representative' 'in lieu of' the NRI to deal with and if needed. Although not obligatory, the POA is usually drawn on the NRI’s parents/wife/children.

An important point to be noted here is that documentation is different for Salaried NRI Applicants and Self-Employed NRI applicants.
 

Salaried NRI applicants need to provide

  • Overseas bank account for the last three months showing salary credits.
  • Copy of valid visa/ work permit/ equivalent document supporting the NRI status of the proposed account holder.
  • Copy of valid passport showing Visa stamps.
  • Latest contract cope evidence salary/ salary certificate/ wage slips.

 

Self-employed NRI applicants need to provide

  • Six months overseas bank account statement and NRE/ NRO account.
  • Brief profile of the applicant and business/ trade license or equivalent document.
  • Passport copy with valid visa stamp.
  • Computation of income, P&L account and B/Sheet for the last three years certified by the CA/ CPA or any equivalent authority as the case may be (or equivalent company accounts).

 

Property Documents that need to be arranged

  • Original title deeds tracing the title of the property for a minimum period of the last 13 years
  • Encumbrance Certificate for the last 13 years
  • Agreement of sale /construction, if any
  • Receipts for payments made for purchase of the dwelling unit
  • Approved plan / license
  • ULC clearance /conversion order etc.
  • Receipts for having invested the margin money through normal banking channels from the Non-Resident (External) account in India and / or the Non-Resident (Ordinary) account in India
  • Latest tax paid receipt
  • Allotment letter from the co-operative society / association of apartment owners
  • Agreement for sale / sale deed /detailed cost estimate from Architect / Engineer for property to be purchased / constructed /extended / improved
  • Copy of approved drawings of proposed construction/purchase/extension

 

However if the PIO card is not available, photocopies of the below documents will work

  • The current passport, with birthplace as 'INDIA'
  • The Indian passport, if held by the individual earlier
  • Parents/grandparents Indian passport/birth certificate/marriage certificate substantiating the individuals claim as a person of Indian origin

Lastly one basic query that every NRI have in mind is that whether NRI/PIO avail of loan from an authorized dealer for acquiring flat/house in India for his own residential use against the security of funds held in his NRE Fixed Deposit account/ FCNR (B) account. So the answer for the query is yes. Such loans are subject to the terms and conditions as laid down in Schedules 1 and 2 to Notification No. FEMA 5/2000-RB dated May 3, 2000 as amended from time to time.

However, banks cannot grant fresh loans or renew existing loans in excess of Rupees 20 lakh against NRE and FCNR (B) deposits either to the depositors or to third parties [cf. A.P. (DIR Series) Circular No. 29 dated January 31, 2007].
Such loans can be re-paid
(a) by way of inward remittance through normal banking channel or
(b) by debit to his NRE / FCNR (B) / NRO account or
(c) out of rental income from such property.
(d) By the borrower's close relatives, as defined in section 6 of the Companies Act, 1956, through their account in India by crediting the borrower's loan account.

If anyone says the process is easy, it’s not. But with right advice, the whole process can be made lot less cumbersome and if the above points are kept in mind, one will be able to ask the right questions while moving through the whole process.

This is where companies like IndiaHomes are taking a lead and going beyond just selling, they are helping & guiding the customer through the whole process.

About the Author: Naveen Kumar Jain, VP & Head of Business Operations & Customer Services, Indiahomes.com, is an MBA & LLB with 16 years of experience in operations and customer services. At IndiaHomes.com, he is responsible to ensure that all processes, policies and practices followed by the organisation are customer centric and should result in an optimal solution for the end user. Naveen has held senior leadership roles in ING Vysya Bank, HDFC Bank & Stock Holding Corporation of India. Being a certified six sigma black belt & ISO 9001: 2008 lead auditor, the implementation of quality management systems and standards for operational excellence have been Naveen’s key strengths and areas of focus.

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Why Electronic city in Bangalore is a good option for real estate investment

Have you ever thought about owning a property in Bangalore, that too in Electronic city? If not, then you should give it a thought. Being the IT hub of the country, Bangalore is also famous for accommodating country’s largest Electronic city, situated on the Hosur Road, Bangalore. Spread across a huge area of 332 acres, the Electronic City is home for top electronics and IT companies such as Siemens, BHEL, Wipro, Infosys to name a few, holding around 100,000 employees.Electronic city in Bangalore

 

 

 

 

 

 

 

 

 

 

 

With further development into Phase I, II, III in the E-City Industrial Township Area and setting up of Biotech Park Helix by the department/unit of BioTechnology, the Electronic City has grown in rapid pace during the past couple of years. Parallel ways the transportation has also improved as BMTC bus services connect it to the every part of the city.

Infrastructure wise Hosur road elevated highway counts for another major development in the area.  The 9.9 km expressway connects the Electronic city with Silk Board in 15 minutes. The highway also has some of the IT companies such as Sasken, Convergys, BOSCH, etc., along with outlets of main auto manufacturers such as Audi, Volvo, BMW, Honda, Toyota, Porsche, Volkswagen and many more.

Due to this rapid growth of this property in Bangalore, a lot of real estate developers are attracted and have set up residential properties that includes apartments, plots and luxury villas. Some of the well-known housing projects are Ajmera Infinity, Concorde Manhattans, Concorde Silicon Valley, Ganga Vertica and Genesis Ecosphere. The stretch between Wipro and Neeladri houses all these projects and also has general stores, food chains and healthcare centres, which are the basic amenities for the daily life.

Hence, with all the conveniences and comforts round the corner starting from major corporate, housing essentials such as medical centres, proper connectivity with the other parts of Bangalore, markets and shops, educational institutions such as Xavier Institute of Management and Entrepreneurship, Symbiosis Institute of business Management and many more, Electronic City is definitely a place to be in. With the growing development rate, it is a profitable destination to invest upon.

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All you need to know to invest smartly in subvention schemes

subvention, no EMI, housing Loan, property subvention

In order to make sales faster, developers are offering different kinds of payment plans. Among others, Subvention schemes are one of such schemes, where home buyers have to pay 10 to 20 percent of the property price at the purchase time. And the remaining amount is paid by banks to the builder as loan under the head of a three way agreement between the bank, buyer and the builder. When the project is being developed, the developer must pay the interest accrued to the bank. In turn, the bank dispatches the sum to the builder as the building’s construction progresses. Here the good part is the buyer has to start paying EMIs only after possessing the apartment.

The subvention scheme has been around for long and it has been renovated into the smart subvention scheme. For instance, if a bank has to pay the developer in 10 instalments, then
20 percent of the amount that the buyer has to down pay can also be paid in smaller instalments of 2 percent or so.

How are these schemes advantageous?

The schemes are beneficial to buyers mostly as they can buy their dream home by down paying a small sum upfront. After the initial down payment, the buyer does not have to pay anything till s/he receives possession of the Chennai property.

In this way buyers save money on the property’s cost in subvention schemes, as developers have to pay the loan interest till the property is possessed by the buyer. Buyers also get ample time to accumulate the sum needed while the Chennai Property is being built. Even if a loan needs to be taken at the hour of possession, the principal amount would be lower. Smart subvention schemes are particularly beneficial to buyers with high salaries but little savings. They may not be able to pay the 20 to 25 percent of the amount upfront but would be able to pay around 2 percent of the total amount payable upfront every couple of months.

Moreover, as EMIs payable by buyers begins after the possession, the situation of EMI and rent payment simultaneously can be avoided. The risk of development is borne entirely by the developer in such cases. If possession is delayed, developers have to bear the interest burden for a longer period or till the balance sum is paid later on.

Risks Associated with Subvention

For subvention schemes, contracts between developers and buyers must state that the former would pay the interest on the loan till the properties in Chennai are possessed. Earlier, developers endorsed subvention schemes where they would pay the interest for a fixed time period of 24 months to 36 months. If the project was delayed, the buyer would have to bear the cost of interest repayment and rent.

In a subvention scheme, if a developer defaults on the interest payment, then the credit record of the buyer shall be marred. Therefore, you must invest in such schemes for properties in Chennai that are offered by credible developers, particularly those with financial abilities of project completion within time.

Prior to investment, make sure you calculate the cost difference between construction-linked plans and subvention schemes in the same project. In all likeliness, subvention schemes would be more expensive. You should invest only in those projects where the difference is zero or minimal.

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Is your property Vastu compliant

Have you noticed most prominent property developers include the feature of their constructions being Vastu compliant? Vastu Shastra is an ancient Vedic science which is concerned with construction. The science studies the effects of nature’s law on various residential dwellings. A property which complies with Vastu, promises wealth, good health, contentment and prosperity. The designs of the construction should be in line with the tenets of Vastu Shastra, based on the alignment and direction of household objects. The tenets of Vastu Shastra are mainly concerned with construction and architecture- forts, building10 Vastu Tips houses, apartments, and temples along with other kinds of buildings.

It has been opined that if a property does not comply with Vastu tenets, then it may cause discord and strife within a family. For instance, many people have observed that after moving their cooking stove, family members stop feeling ill. You too can match up these 10 tenets of Vastu to verify if your house is compliant or not. Accordingly, you can make changes in your home to bring peace and harmony.

  1. A plot on which a house is built must be rectangular or square in shape. Plots, which are irregularly shaped not only look odd and have bad designs, but they may leave bad influences on occupants.
  2. Your property should have a well (tube well or other water source) to the North East before construction commences.
  3. Ample space should be given towards the eastern and northern directions and lesser space must be kept towards the western and southern directions. The East is where the sun rises and empty spaces in the direction would make your rooms be naturally illuminated with sunlight.
  4. Open spaces towards the North West and the South East must be equal.
  5. Trees must not be planted on the north-eastern corner, as both these directions must be kept free.
  6. More numbers of windows must be kept towards the North and East.
  7. Avoid construction of doors along straight lines.
  8. The plot’s western side should be more elevated compared to the eastern one while the southern half of the plot must be more raised compared to the northern side.
  9. The North East side of the plot is where construction should be started. From thereon, construction should move to the East, North and finally West and South.
  10. Building of pillars must be started from North East direction.

Unless you are constructing an independent villa or a house on a plot, following all these tenets may be difficult when you are picking out an apartment. There are quite a few tenets for apartments that must be followed for a prosperous family life. Avoid having a Puja room right beside the washroom or the main entrance. It should be in the East, North, North East, South East or the North West. The number of windows and doors in your apartment must be an even number. If you can match up to these Vastu tenets, then, you can expect a peaceful and happy lifestyle.

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What Defines Promising Real Estate?

real-estate, property value, promising property, investment

First time buyers of real estate often mistake either expensive or cheap real estate as the promising one. However, expert advisers do not see promising properties in terms of prices but in terms of livability that includes physical, civic and social infrastructure. Think of a place where there is no proper drainage or water supply in the area and the nearest house is around 5 minutes-walk away. Wouldn't living in such a locality be a nightmare for you, no matter how expensive it was?

The idea behind a promising piece of property isn't its price, but the facilities available. How would you like to live in a flat worth Rs 2 crores and travel 10kms to reach the nearest mall or shopping area? In fact, the amenities that are available close to an area often determine the price.

Various facets which determine the promising Returns & Livability of real estate.

Physical Infrastructure
An area’s liveability depends heavily on the physical infrastructure available- roads, mono rail, metro rail and local trains etc. Most home buyers do not own cars which is why the availability of physical infrastructure is very important. A lot of areas have seen a hike in the price of the property once a new form of physical infrastructure was made available. For instance, property prices in Ghatkopar West went up by almost 50 percent in 3 years when the Versova-Andheri- Ghatkopar Metro Railway’s construction began. After the beginning of operations, it was estimated that in the coming six months, the prices would increase by 10 to 15 percent more.


At the time of buying property, buyers should focus on properties where infrastructural developments have already begun rather than be stuck at the proposal stage. Proposals are often scrapped or altered, which is why it is better to opt for a locality which is already under development. Those investing in the outskirts must bear in mind that it may take up to 10 years before the area becomes liveable. Several industrial corridors have been planned in Chennai, Nashik and other areas which make take quite some to become functional. If you are thinking of investing in them, you have to be patient.

Civic Infrastructure
It is not only enough to have easy avenues of commutes to make an area liveable- it also has to have a proper civic infrastructure. Drainage, water supply and electricity are some of the top priorities for a residential property buyer. Some areas have good connectivity with other areas of the city, but suffer from lack of water supply and drainage. Studies have shown that almost 50 percent areas of Bangalore and Hyderabad have a water crisis.


Madurdaha, a locality in South Kolkata has good potentials for investors as it is serviced by the Shahid Khudiram Metro Station and Pranabananda Road and Garia Station Road act as paths of communication to the rest of the city. Hospitals such as ‘Medica Speciality Hospital’ and Peerless Hospital are close by. Despite having such good physical and social infrastructure, residents of the area suffer for the lack of civic infrastructure. Drainage is a severe problem in the area and has led to an outbreak of dengue in the locality. 


Unless the physical infrastructure of an area is developed, it would be difficult for buyers to live a comfortable life in their houses or apartments.


Social Infrastructure
Most micro markets across cities have these amenities available as cities have expanded and it would be very difficult for citizens to travel 14-15 kms to reach these essential amenities. The walk to work culture has further boosted this trend- more people live near their work place to save time taken to commute and money spent on it. This has strengthened the social fabric around workplaces as well. For instance, upcoming housing communities have a hospital within their premise along with schools and shopping centers to make everything more accessible to residents.
Satellite townships which are coming up nowadays, such as Palava City near Thane, have these amenities planned within the community. 


Possibility of Appreciation in Future
For instance, properties along the Old Mahabalipuram Road in Chennai or the ones that are coming up near Marathahalli or Electronics City in Bangalore have a higher possibility of price appreciation in the future.
The possibility of appreciation in prices often depends on the availability of land parcels in the area and constructions that are coming up. Areas such as Andheri West in Mumbai and Pune’s Aundh, have reached saturation in terms of pricing as well as the density of property. As an investor, you do not stand to gain much as property prices won’t fluctuate. However, in localities like Ghodbunder Road in Thane, a satellite city of Mumbai, price appreciation takes place in leaps and bounds as the locality is yet to develop perfectly and there are plenty of land parcels available for development. A similar story can be observed in Balewadi or Kothrud in Pune.
Consider these factors before you buy an expensive property in your city thinking it to be promising.

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Real Estate to Grow Double Digits Despite the Downfall

In order to ensure that the Indian property market catches-up with a 200% growth rate, the developers have to propel their focus on offering timely possession of projects and adoption of new FDI rules.

In an industry like real estate where every day brings plentiful opportunities for development across verticals, there are certain deep-down challenges that creates a speed-breaker for the growth. Factors such as customer grievances, high deriving costs for developers, liquidity issues, slow or uneven development of urban infrastructure and uncertainty in governmental policies.

Through adaptive measures the economic contribution of the real estate sector is projected to increase significantly during the period, from 6.3% in 2013 to almost 13% in 2025. This spiral growth is attributed to the intensive demand for first-rated projects that can be delivered on time. 

real estate performance

How the real estate industry has evolved in India in the year 2013-14?

During H1 2014, prices in Bengaluru have appreciated at the fastest pace of 11%, compared to H1 2013. Mumbai, currently suffering a downfall of 49% is expected to recover the sales volume by the end of FY 2014.

The overall market is most expected to improve in the next eight to ten months. Even now, the quality projects are high in demand. Investors are eyeing on the pre-launch projects, whereas the consumers are up for developing or developed ones. Though, a lot depends on the timely completion of projects via the developers.

Streamlining the sanction process for residential projects, augmenting the availability of land at affordable pricing, endowing transaction costs through pre-approved loans and offering complete buyer assistance are steps to promote further growth in this sector.

property absorption rate

The resale market has a lot of scope for long term investors. Over a period of last 10 years, the property market has given an ROI of around 15-20%, which is more as compared to other fixed assets such as shares or gold offering an appreciation of only 10-15%.

Also, the reduction of built up area and capital amount of investment infuses a fresh take to this sector. The reduction of minimum built-up area from 50,000 sq. meters to 20,000 sq. meters and 50% reduction in capital investment from $10 million to $5 million, seems to double the FDI inflows into the residential as well as the commercial real estate market.

To catch more updates on real estate market or property listing, visit www.indiahomes.com or for any property related query, email at helpdesk@indiahomes.com

Source: Knight Frank, Times Property

About the Author: Naveen Kumar Jain, VP & Head of Business Operations & Customer Services, Indiahomes.com, is an MBA & LLB with 16 years of experience in operations and customer services. At IndiaHomes.com, he is responsible to ensure that all processes, policies and practices followed by the organisation are customer centric and should result in an optimal solution for the end user. Naveen has held senior leadership roles in ING Vysya Bank, HDFC Bank & Stock Holding Corporation of India. Being a certified six sigma black belt & ISO 9001: 2008 lead auditor, the implementation of quality management systems and standards for operational excellence have been Naveen’s key strengths and areas of focus.

 

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How beneficial is the increase in FAR for residential plots?

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According to reports, the Indian Government has given its approval to the proposal of increasing FAR in the state of Delhi. The rise in the FAR is for housing plots which measure 750 sq. m. or more where the FAR has been raised from 150 to 200. For plots measuring more than 1000 sq. m. the FAR has been raised from 120 to 200 while ground coverage has increased to 50% from 40%. Allotting higher FAR has been considered to be a good move as it would make apartments larger. Ticket sizes might increase too without any changes in the norms of density.

FAR or Floor Area Ratio is the ratio between the total floor area covered by the land and the total area of the plot on which a residential property is being developed. Unlike Mumbai, which is constrained for space, Delhi has abundant space spilling over to other areas of the NCR and hence rise in property prices may not be seen. Buyers can be in a win-win situation with this move.

Even though no clarity has been offered on the increase in the number of units permitted on larger plots, its provision has been made in the Delhi Master Plan draft for 2021. It allows for a rise in the numbers of residential units. Under the provision, the concurrent augmentation, cost of allied civic infrastructure has to be undertaken by developers and paid to the authorities. The provision made on the draft master plan could be used for increasing the numbers of dwelling units.

If the provision is used judiciously, then in conjunction with the rise in FAR could be used for raising the stock of housing on residential plots from now onwards. If this is implemented, then there would be some movement towards making more houses. An allied price reduction would be likely then. With restrictions in heights for individual housing plots not raised from the present 17.5m along with provisions of stilt parking, the developments are more likely to remain at the same height. 

The increase in FAR may produce an impact on plots for group housing, where coverage on the ground will be 50% now, which was previously at 33.3%. This shall allow developers to build bigger apartments, even though FAR was at 200 already under the master plan. No restrictions on heights have been applied to group housing plots, which is why no issue for these kinds of developments shall come up when it comes to provisions of heights.

A sizeable increase in stock prices of players listed on the various stock exchanges has been seen. Many companies hold prime properties in Delhi or other regions. Better evaluation of such lands on the grounds of rise in the FAR for housing plotted developments is a probable factor behind the rise in respective stocks. The impact could have been seen in the short term. However, more should be available when you go forward, when the middle term review of the 2021 master plan is completed and changes posted by the year’s end. 

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Important Vaastu Tips to consider before Buying a Home

 

Vastu Tips, Home buying tips, property investment

Vaastu is one of the oldest practices of home owning in India and a lot of it is based on scientific facts, even though we fail to recognise them often. The principles of Vaastu are based on the fact that the planet sustains like as it has water, air, space and fire that exist in harmony together. If one of these elements starts dominating over the others, then it would lead to discord and strife. Houses which do not comply with Vaastu principles often become centres of feuds and failure. Therefore, the tenets of Vaastu suggest that you can improve your life by building upon its principles which aim to bring together the harmony of natural forces for success and happiness.

Here are 5 most important Vaastu tips that should be followed when you buy a house.

Pre-construction

It is important that a Bhoomi Pooja is performed before the beginning of construction on a property. Bhoomi Puja thanks Goddess Earth for providing us with shelter and ask for her blessings for a successful, prosperous, healthy and happy life. It heralds a good start to the construction and subsequent smooth proceedings.

House Entrance

The entrance of a house should always be in the east as it is considered to be most auspicious. The sun rises in the east and it is said to infuse the house with light and positive energy. Another direction which is acceptable for the placement of the main entrance is the North East as it also considered auspicious.

Location of the Kitchen

The southeast part of the house is considered to be the best location for placing the kitchen in the house. Cooking has always been an activity which is considered best performed facing the east. However, you should bear in mind that your kitchen must not be directly in front of your house’s main door.

Master Bedroom

A master bedroom must be placed in the southwest corner of the east facing home. If you can follow points 2 and 3, then you can be sure about sleeping in peacefully without having to bear the sound of cooking or its aroma wake you up. A bedroom which is rectangular or square in shape is always recommended. You can always bring in modern architecture to other rooms of the house.

Location of the Washroom

The washroom’s location is an important aspect, from the point of view of the health and hygiene of residents, aesthetics and Vaastu. Washrooms must always be located in a building’s North West corner or in North West corners of rooms in the house. If you cannot get the restrooms made in the North West direction, then consider having them in the southeast direction. It has also been recommended that the kitchen, restrooms and Puja room in the house should not be one beside the other. Not only is it recommended from the point of view of Vaastu, but also from the point of visual aesthetics.

There are quite a few other conditions that you must adhere to for getting a perfect Vaastu compliant apartment. However, in today’s times, it is a bit difficult to match all the requirements of Vaastu to the house you have selected. Nevertheless, you should try to follow the above mentioned tips of Vaastu for prosperity and happiness.

You may also like to read:

What’s bringing the investors to the Indian real estate market?

All You Need to Know about Pre-approved Housing Loans

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What’s bringing the investors to the Indian real estate market?

real estate, real-estate, investmentThe Indian real estate sector has become the cynosure of investment for foreign and domestic investors alike. With housing demand in cities and urban zones shooting through the roof, developers, property sites and sponsors are looking to rake in piles of cash within a short span of time. Ever since 100 percent FDI has been allowed in the property market, foreign investors such as Warburg Pincus, Morgan Stanley Real Estate Fund, Tishman Speyers, JP Morgan Partners and some funds from Berkshire Hathaway have been showing keen interest in the Indian realty market.

Domestic funds such as SBI, HDFC and ICICI Venture are also expecting to diversify in the realty market. With the expansion of IT services in the country, most people have enough money to be able to afford comfortable apartments which support a plush and pleasant lifestyle. Companies which are investing in the realty market from abroad are expecting a 16 to 20 percent return. Indian developers expect to raise $100 million at least from these companies when they go in for construction.  Developers nowadays hardly invest more than 10 percent of their own money. Even NRIs have started investing in real estate in India and they have already raked in $1.5 million.

Because real estate markets in India such as Bangalore, Pune, Hyderabad, Chennai, Mumbai, Gurgaon and Delhi are booming, investors are looking to pump in funds into the operations of renowned builders of these markets.

A lot of companies have realised the importance of property advisory companies and websites which help buyers find the right property for their budgets for investment. Seeing the scope of growth of these companies, funds from abroad also get channelled into these websites. For instance, IndiaHomes has received private equity funding from US companies such as New Enterprise Associates and Foundation Capital along with Helion Ventures. Worth Rs 250 crores, IndiaHomes has a net worth of Rs 250 crores and has satisfied 10 million home buyers over 50 cities.

The Indian real estate scenario is set to boom in the coming future and foreign private equity funds are not missing a single opportunity to become a part of the companies (be it property sites like IndiaHomes or builders) that could make them rich. 

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