Are you searching a house for rent in Bangalore?

Outline- You have moved to Bangalore and worried about where to stay? In that case, one does not have to worry about the same. The choice available for rental houses in Bangalore is quite impressive and many people who move to the beautiful city know that.

Amazing place to be – Bangalore
Known as the “Silicon Valley”, the hub of IT companies is how we can describe Bangalore. Most of these IT companies have their headquarters in the city. Not only these, there are numerous other industries which are also located in the city and almost all the firms who are known in India have at least one of their office in Bangalore. The city is well connected with other cities of India as well as foreign countries.The growth of IT has offered many unique challenges to the city. At times, there is a demand to improve the city’s infrastructure. The establishment of various high-tech industries in Bangalore lead to increased land values and realty has become a lot valuable and real estate business boosted.There are many renowned higher educational institutions in the city which is also attracting young crowd. Various industries and educational institutions is driving people towards Bangalore thus the demand of houses for rent in Bangalore had increased and is still increasing with each passing day.Real estate market in Bangalore
Bangalore is one of the cities in India that is growing rapidly in every aspect. It is now a key hub for IT and also a real estate giant. With the amplification in settlements in the city, both the commercial and residential sectors are prospering quickly. Penthouses, flats, bungalows and villas are a good investment option. Not only the sale and purchase of houses, there is huge demand for properties on rent in Bangalore.rent-house-in-bangalore

There is a fair reason as to why real estate in Bangalore is proving to be so successful. Best quality infrastructure, availability of all the amenities and residential projects in prime locations has all lead to the increase in the value of properties in Bangalore. HSR Layout, Malleshwaram, Whitefield, Koramangala, BTM Layout, Indira Nagar, Ulsoor, M.G. Road etc are some of the in-demand localities by both the investors and developers.

Lots of new projects, gated communities, multiplexes and constructions with outstanding architectural designs are built in Bangalore. The success of real estate is the result of investor satisfaction. The builders of the city have delivered the projects by understanding the needs and demands of the potential buyers of the city.

Today, to be an owner of a property in Bangalore will surely yield good returns in the future. The fact is that the outskirts of the city are developing at a rapid rate thus making property a good buy throughout the city.

People who have already invested in the residential projects of the city have also indulged in the business of renting out their houses. As new people move to the city there is an increased demand of house for rent in Bangalore.

Want a rental property in Bangalore?

Rental properties in Bangalore is in great demand. People who move to the city for their jobs usually take the apartments on rent and yes everyone cannot afford to buy one as soon as moves to the city.

Property rents vary from location to location. The locations near to offices and business areas have higher rents are more as compared to developing localities. Also the rental rates keep on increasing with every passing year. Renting a house is a good option for the landlord as well as the individual as it generates a steady income for the owner and an easy way to manage living in the city.

Websites like 99acres.com has a good number of the houses that are available on rent in Bangalore. Based on the requirement and needs of the individual, one can look for all the options available and choose the one the suits in the best possible way.

If renters searching for houses or apartments for rent in any location of Bangalore then 99acres.com has a huge database of all this information which is completely accurate and authentic. The details are available about the house which has to be rented and the individual seeking one can choose the house based on the desired location, rental and other deciding factors.

Mumbai’s rapid urbanization to boost real estate industry

 
Mumbai’s rapid urbanization to boost real estate industry

Mumbai Rapid urbanization and demographic changes, especially within emerging markets, will lead to substantial growth in the Real Estate Investment Industry over the next six years, according to Real estate 2020 building the future, a new report from PwC. At the same time as the industry’s opportunities grow, so too will assets invested into the sector, it said.The report predicts that the global stock of investable real estate will rise by more than 55% to around $45.3 trillion by 2020, from a 2012 total of $29.0 trillion and will expand again by a similar proportion by 2030. The expansion will be greatest in emerging economies, where economic development will lead to better tenant quality and, in some countries, clearer property rights and will play out across housing, commercial real estate and infrastructure.

The report also finds that private capital will play a critical role in funding the growing and changing need for real estate and its supporting infrastructure.
“Intense competition for prime real estate will force real estate managers and investors to seek out new opportunities for yield. Yet the growing and changing real estate world will present them with a far wider range of risks, which they must be equipped to manage,” it said.

PwC predicted that total investable real estate in developing Asia-Pacific countries, which includes India, will rise by 140% to $10.2 trillion by 2020, from a 2012 total of $4.3 trillion. The increase in percentage terms is the highest when compared to other regions such as USA, Europe, Latin America, developed parts of Asia Pacific and even Sub Saharan Africa and Middle East & North Africa.

 

2014 Set To Be A Promising Year For Residential Real Estate

2014 Set To Be A Promising Year For Residential Real Estate

The year 2014 started with a positive sentiment for the residential real estate industry in Chennai due to the optimistic outlook in the customer’s mindset. There are a lot of factors influencing the growth and development of the residential sector in Chennai. These key observations, pertaining to the realty market, are instrumental for prospective buyers who are keen on making a good investment decision. The developments of IT and ITES companies have brought a huge increase in the market. In 2013 alone, there was absorption of 4 million sqft of commercial office space, predominantly by IT/ITES companies. And, with the IT population alone reaching 4.5 lakh, the indication favours the development of real estate along the outer areas of the city.With limited land parcels in and around the city, land prices are on an uptrend. The construction and labour costs to the developer have escalated the input costs by about 10-15 per cent. However, developers have still held on to prices and not passed on the additional burden to the customers. With the decision-making time reducing and customers coming out in the market, the prices are bound to go up, in the near future.

GROWTH FACTORS :
Chennai is constantly growing and emerging into a major IT, automotive and an electronic manufacturing hub.Commercial demand has never been stagnant. A lot of new companies are investing and setting base in the city, creating more employment opportunities, thereby stimulating the residential demand in and around the city. Infrastructure is being developed to suit the needs of various industries that are setting foot in the city. Focus is on the Outer Ring Road (ORR) were the Phase I (Vandalur to Nazarthpet — NH 4) has already been completed. ORR Phase II, where land acquisition is in advance stages, will boost the real estate activity along this corridor.

Chennai and its adjoining cities are among the best places for primary and higher education in the country today. Healthcare and medical facilities in the city are also among the best available in the country. Development of new hospitals, schools, malls and multiplexes in the emerging locations are all stimulating growth for the city’s residential real estate industry.

The public transport lines across the city are taking a turn for the better with more bus services and routes announced by the government, facilitating faster and better commuting. Along with this, the Chennai Metro Rail project, which is expected to be ready by the end of 2015, and the Monorail project, which has recently gained momentum, will drive residential prices along their respective corridors.

To summarize, in Chennai, unlike in other Indian metropolitan cities, the residential market is driven by the end users,
who constitute 80 to 90 per cent of the buyers. This buyer base provides a strong foundation to long-term investments in the city’s residential market, as it reduces market volatility.

It is recommended that buyers make an investment decision keeping in mind the various schemes and offers that are being offered by developers. Also, in the current market, the buyers have a wide choice of locations, apartment sizes and prices, which, going forward, may not be available due to the increase in demand in the near future.

Apart from Chennai city, locations close to the IT hubs, specifically OMR and ECR, will witness a lot of traction and interest from buyers due to factors such as employment opportunities and development of social infrastructure.Chennai is a preferred choice among other metros in terms of residential investment and capital appreciation. So,buyers should be optimistic as the residential market picks up pace this year and make a conscious decision to pre-empt the curve and ride the upswing.

THE OPPORTUNITY IS NOW :
Real estate prices have gone down significantly with many builders reducing prices. Some of the builders are offering guarantees to the buyers to insulate them from price corrections. The real estate community is extremely confident that the market will rebound considerably post the general elections.

Hence, this is the right time for customers to buy an apartment because now, the prices are at the lowest level possible. Builders may increase the cost owing to a substantial increase in the cost of construction material and labor. Prices are bound to go up in the future.

FAIR PRO 2014 :
In order to help the prospective buyers from Chennai achieve their dream of buying a new home, CREDAI Chennai is organizing its annual real estate expo, Fair Pro 2014 in Chennai Trade Centre, starting February 21, 2014. This three-day annual event is one of the largest real estate expos in the city, where the members of the group will showcase their products to the customers, offering them the best deals. The group is also organizing a Home Loan Mela this year, where prospective buyers get the best loan offers from leading banks and financial institutions. This will help to plan their budget in choosing an apartment in Fair Pro 2014.

“Knowing that this is the best time to buy the property you have always dreamt of, I recommend the people of Chennai who are planning to make an investment in real estate to use Home Loan Mela and Fair Pro 2014 to turn your dream into reality because the opportunity is now,” says Sandeep Mehta, President, CREDAI Chennai and Managing Director, Jain Housing Pvt. Ltd.

Source: TimesOfIndia

Supreme Court says make way for real estate and says no private forest

The Supreme Court (SC) track to the Maharashtra Government to eliminate “the private forest” tag attached to the huge land area packages around the state which is likely to give a push to the development of Indian real estate such as empty space areas, according to the Indian real estate developers body Credai.

Maharashtra Government is very much happy to hear this judgment from supreme court as it will lastly cover the way for development of forest areas and land which has been lying empty for many years and most importantly legalize the homes of people living around there, Confederation of Real Estate Developers’ Associations of India (Credai)say’s Lalit Kumar Jain. A three Justices such as R M Lodha, M B Lokur and Kurian Joseph have recently permitted petitions by Godrej & Boyce (G&B), Oberoi Constructions and a host of other developers such as residents’ bodies affected by the High Court ruling.

The new ruling government will not only just open up hundreds of acres for private forest land in the suburban Mumbai, but also created a paved path for developing more than 100 real estate projects which bring relief to nearly 5 lakh residents who faced the risk of losing their own homes because of the Bombay High Court’s verdict which upheld the state government’s argument that these residents were encroachers. This type of  Judgment can also set a example for the development of huge government owned land by such as the Railways, Bombay Port Trust, etc, which are being misused and illegally encroached by the slum dwellers, should be freed for development, said. Jain further said this verdict was a good learning for government which should make the process of approvals much faster and implement the single window clearance system.

Source: http://goo.gl/s48iZO

Goa’s real estate market Price

Goa Real estate continues to roll after the slowdown in the market and with no sign of break in 2014. So far in the past many clients from Delhi, Pune, Bangalore and Mumbai, and for even (NRIs), Goa has been the most chosen destination for buying next house. By 2013, the real estate sector in Goa come in full flow. When compared to previous year, fewer NRIs showed interest in buying flats or villas in the tourist months of Nov and Dec. NRIs have a huge number of client bases, especially for premium construction projects, and there is a lack of demand for tourist season. Most NRIs showed interest in Goa’s real estate some of the abroad places are UK, Middle East and Singapore.

Interestingly, Real estate market prices remained flat throughout 2013, in spite of tight market. A number of potential buyers were expecting a fall in prices. On the light of stagnation in prices, they postponed their purchase decision. To draw buyers, builders may provide a free furniture or car parking space, so on.  Goa Properties.com a real estate broker said that this would help the builders in stabilizing the price without the need of price cut.  The outlaw on sand mining has resulted in a steep hike and sand prices from 800 – 2,500 per cubic meter in 2013. Thereafter, the prices have eased and stabilized at 1,200-1,500 per cubic meter. So it becomes tough for builders to give freebies to buyers says president of CREDAI (confederation of real estate developers’ association of India) Goa. He counted the ban on removal and non finalized regional plan among other issues which resulted in lack and clarity in the real estate sector. The regional plan is expected to offer clarity on issues like conversion of agricultural land into real estate and investment in infrastructure.

Since more builders are unwilling to provide schemes to attract buyers, some builders were more aggressive on giving gifts to the home buyers and getting closed to the buyers. Some of the offers Real estate builders giving are Gold coins, Trip to Singapore and Cars. One of the main factors that made Goa’s real estate market popular is because most builders still sell properties based on super built-up area and not by carpet area and the central government have passed a bill in 2013. To bring more clearness into a very solid real estate sector in India. Cities like Delhi, Mumbai and Pune have started selling real estate by carpet area, but it is yet to happen in a significant way in Goa.

Sebi attaches company shares to recover investor funds

Market monitor Sebi came downward on MPS Greenery Developers a West Bengal-based grouping supposed to be running fake investment schemes— and one of its related companies on Wed ordered attachment towards its shares to repay Rs 1,520 crore to affected investors. This is the fastest and biggest revival order by Sebi under the newly acquired powers.These regulatory orders came after Sebi initiated recovery actions against the group in Oct 2013 and asking about MPS Greenery to repay the amt to investors. Sebi had suspected that a group was running unregistered collective investment schemes (CIS). Sebi has also joined over 50 group accounts in bank. The hottest order came after the MPS Greenery and its group company MPS Food Products failed to return the money to investors.

The Sebi said, “MPS Greenery has not paid dues amount of Rs 1,520 crore along with returns to investors,” The money includes charges ,interests, costs, and other related payments. The order says that the two companies are now banned from transferring amount and shares held by MPS Greenery Developers in MPS Food Products. Further, MPS Food has also been forbidden from creating any burden or receiving any dividend on MPS Greenery Developers’ shares. The market regulator has become alert after the failure of the Shardha group in WB last year. In the last three to four years, Sebi has taken regulator events against four money market companies such as Sun Plant Agro, Rose Valley Real Estate, MPS Greenery Developers and PACL India. All the mentioned 4 firms are collecting money from investors under unregistered schemes which results in several thousands of crores of rupees.

On May 2011, the regulator had started actions against Sun Plant Agro, which was running a CGI (collective investment scheme) in Bengal districts without Sebi registration. On Dec 2012 when the regulator had ordered MPS Greenery Developers to wind up its CIS and directed the firm to place Rs 1,169 crore that it had allegedly collected from investors through different schemes. And In Jan 2011, Sebi had banned Rose Valley Real Estate & Constructions by providing different schemes from public money. Sebi had also filed a case against Delhi-based PACL India for violating CIS norms. The companies have challenged Sebi orders and the cases are pending in court.
Source: http://goo.gl/xGEIDp

Western suburbs found new growth in Real Estate

Looking back on previous year the current outlook toward the business economy has been a wait and see method.The result to make up more real estate office has been put on hold the companies insistently looked to bring down their costs. Corporate companies have put their outlay decisions on hold and waiting to see how the current economic scenario been especially in upcoming national elections.

With this drop of uncertainty, commercial real estate properties in Mumbai have produced mixed results. Mumbai in 2013 has recorded 4.76 million sq. ft., which was 21 per cent lower as compared to other previous years. The first half of 2013 calendar was stronger than the second half, but the whole calendar year was marked by a lack of leasing transactions. The IT sectors, banking and financial services as been the major services for the office space market. Most occupiers that leased space in 2013 have done so either because the current lease agreement expired or to tap the opportunity to move and merge at lower rents in superior office space. Some the Real Estate markets like Chennai, Navi Mumbai, Andheri East & Western Suburbs together comprise approximately 70 per cent of the total absorption.

Therefore as a result towards dampened office demand, developers refrained from building new office space and speculative development remains limited and constrained to small size. Around 3.5 million sq ft of Grade A office building have been delivered in 2013. This is mainly of decrease in supply due to delay in project completion. Around 70% of the supply was concentrated in Andheri – Kurla and Malad — Goregaon stretch.

Due to the limited supply of products, the vacancy has decreased slightly. In general Grade A stock available is currently 7.8 million sq. ft., which is 16 per cent lower as compared to last year figures of around 9.3 million sq. ft. This positive move led to decline in average annual vacancy levels

Glance Over Indian Real Estate Sector in 2013

 

When I look back of past months gone over in 2013 by and analyzing the events which took leveraged the prediction of the Indian economy and the growth seems good in almost every sector. Real Estate and the Infrastructure is an area that has witnessed extraordinary growth in the last year. However the growth comes the loose, and with the economies facing a fall in the past few years, no sector has been left unmarked.

Economy resulting from RBI’s measures to control was the major influence on the Indian real estate, over past year. Higher the interest rate, rise in vacancy levels and lower margins arising from inflationary pressures too, led to a slowdown of constructions to a drop in new launches, and also delayed project delivery for several months. Developers are worried about slow sales leading to a condition of oversupply around the country.

There was an exchange of words with clients, developers and experts have shaped the top six residential markets of the country namely Mumbai, NCR, Bangalore, Chennai, Hyderabad and Pune. Mumbai and Chennai, which is surrounded by one side by the sea, have the average highest price of 5,900/sq. ft. and 4,700/sq. ft. respectively. Cities such as Bangalore, Hyderabad and Pune have a relatively average price amount of 3,800/sq. ft. to 4,500/sq. ft. respectively. Materialization of the real estate markets in these cities back on large scale development such as IT/ITes sector, has managed to keep prices to more reasonable levels. Bangalore remains the most affordable residential market with more than 77% of its total under construction units falling below 50 lakh followed by Chennai at 75%.

The intentional strategy of developers in these cities has been to focus on the minor areas and offer the right sized apartment which has ensured that the new supply does not break the affordability level of the targeted segment. Hyderabad has only 51% of its total under constructions of below Rs.50 lakh despite the city having the lowest price among the top six metro cities. Mumbai remains the most excessive Real estate market with 29% of the city’s total under construction surpassing the 1 crore mark as compared to 11% and 5% for the NCR and Bangalore markets respectively.

Mumbai, Bangalore slip down in Investment list Chennai on Top

Indian cities slipped further in the regional rating this year, but did manage to retain spot in the top 25 real estate destinations of the Asia Pacific region. Delhi has maintained its ranking at 21st position whereas Chennai has made an debut entry for the first time at 22nd position while Bangalore and Mumbai slipped to the 20th and 23rd positions respectively in the list of investment destinations covered by the Emerging Trends in Real Estate Asia Pacific 2014, published jointly by the (ULI) Urban Land Institute and (PwC) PricewaterhouseCoopers.

According to last year report of 2013, Mumbai and Bangalore were placed at 20th and 19th position respectively. These low ratings are credited to the ongoing economic problems, an uncertain currency attitude following a mid-year push in the value of the rupee, and an investment environment widely perceived to be unfriendly to international investment. But still, interest in Indian markets remains high. With national elections threatening and reports on the ground suggesting that the rush may be turning in interest to foreign investment, many foreign funds are waiting eagerly on the sidelines to see what goes on, the report states.

Gautam Mehra, executive director at PricewaterhouseCoopers India said the general slippage of Indian cities in the rankings, coupled with the retention in the top 25 list, tells a story that on the one hand, there is the negative impact of the combination of market, political risk, regulatory and currency which continues to result in a general sense of nerves and the tendency of foreign investors to stay on the sidelines, while on the other, the undoubted potential continues to keep interest levels going. The new debut City (Chennai) gives another positive twist to the Real estate story.

It felt that a more favorable and clear environment will set the ball rolling for attracting greater levels of investment, with both foreign and domestic. The report stated that overall for Asia, the real estate ground rules are expected to remain stronger in markets in 2014, with steady competition for conventional assets in prime markets boosting the popularity of niche property sectors and secondary markets for investments.

The report notes that, unlike other asset classes, real estate in Asia “barely flinched” this year in response to the tapering of the U.S. economic incentive and expectations of higher interest. This is due, in part, because of the increase in sovereign wealth and institutional capital being directed to Asian markets, as well as the substantial volume of Asian capital being exported from, Singapore, China and South Korea into real estate assets across the region.
The generally positive outlook for many markets throughout the Asia Pacific region is highlighted by the re-emergence of Japan (after a five-year absence from the top rankings) as a favored market for investment and development. The country is one of the largest beneficiaries of capital flows from other regions within Asia, notes the report. Outside of Japan, the survey found continuing interest in assets located in Asia’s emerging markets, including Jakarta and Manila.

Reality check for home buyers

A recent report from property consultancy firm Knight Frank says that Real Estate prices in Mumbai areas have declined by 10%. The same report says almost 45% of the new properties that are coming now in the city are being unsold. Real estate consultants say the story is not very different in other big cities as well, where prices have softened. Is it the right time to invest in real estate?

“My sense is that this a good time for investing in property. The prices are subdued across cities because of the uncertain political and economic scenario. These are the two macro factors that affect property prices.

If a stable government comes to power at the Centre post-elections in mid-2014, prices will rise due to improved confidence levels, though the reverse would also be true in the event of a fractured mandate. The current situation, where there is pressure on prices, is likely to be more of a short-term trend,” says Mudassir Zaidi, national director, residential agency, Knight Frank India. So, if the general sentiment in the country improves on the back of political stability, prices could only rise.

The current situation where prices are quiet may not last over the long term. “We believe that market sentiment will begin to improve in the latter half of 2014 as the country’s economic fundamentals ease and elections play out,” Knight says. However, you need to take into report certain micro factors, too, before taking the decision.
“From an investment point of view, if some of the fundamentals like financing options, job or business security, etc are in place for an individual, then this would be a good time for real estate investments,” says Sanjay, executive managing director with real estate consultancy firm Cushman & Wakefield. The Frank has found that prices in certain areas of Navi Mumbai, including south and central Mumbai, have registered a fall of 10% in the last three quarters. Prices in Navi Mumbai, Thane and the peripheral suburbs of central and western Mumbai have either been stable or have trended marginally upward.

“The fact that real estate prices are showing signs of weakening suggests that the long-standing stalemate between buyers and builders is finally turning in favour of buyers. The increase in inventories, coupled with weakening absorption levels, would put further pressure on prices,” noted the report, adding that demand is likely to remain subdued over the initial part of 2014 against the backdrop of a sluggish economy.

“Hence, a more pronounced price correction from current levels is likely in the medium term,” Knight Frank’s outlook stated. However, Dutt of C&W believes that while there is a downward bias, most parts of Mumbai are yet to see a price correction, with the exception of South Central, which has seen a moderate correction of 2%.
If it’s a suburban location, it should have unabated access to the main cities. Also, check for infrastructure development plans which are announced or the ongoing development projects. The location chosen should also have a development authority to ensure future development prospects.