Real Estate India- Property in Delhi

NEW DELHI: As many as 11 tier II cities in the country are emerging as growth centres that could transform the landscape of India, a report by industry body FICCI and Ernst and Young said on Monday.

The FICCI-Ernst and Young Indian Real Estate Report, 2007: Growth and New Destinations, the highlights of which were released today, reveals that besides eight metros, cities such as Surat, Chandigarh, Nagpur, Vadodara, Visakhapatnam and Jaipur are experiencing initial phase of rapid economic growth.

These cities have been rated as B++ in the E&Y India City rating. Delhi and Mumbai rank first and second respectively with A++ ratings, followed by Bangalore, Chennai, Hyderabad, Kolkatta (with A+ rating) and Pune and Ahmedabad (A).

The realty sector in India is growing by more than 30 per cent per annum and this order of growth is shifting the focus of investors and developers to relatively smaller cities and hence there is a likelihood of such emerging cities leading the transformation of the real estate sector, the study says.

The ratings are based on five critical indices, city prosperity, urban governance, business environment, quality of life and infrastructure, encompassing 55 parameters.

Ernst and Young Partner and National Leader (Real Estate Practice) Ganesh Raj said: "An attempt has been made to rank the cities based on scientific methodology and statistical tools. The term tier I, II and II cities are loosely used".

The assessment of potential in different cities across India would assist the government, industry, developers and investors to systematically plan the inflow of investments and the development of cities, he added.

The report, which will be released on September 27 at FICCI's International Real Estate summit to be held in Mumbai, also found out that education, healthcare and medicities are the new avenues that are available for developers, Raj said.

FICCI-E&Y report also carries a survey from leading investors, which revealed that all the respondents believe that more than $5 billion would be deployed into Indian real estate over the next three years with around 20 per cent believing that the deployment would be more than $20 billion.

Almost 80 per cent of the respondents believe that in short to mid term, India as an investment destination is 'excellent' or 'very good' compared to other Asian markets like China, Vietnam, Malaysia, Indonesia and Thailand.

According to survey, more than 50 per cent of respondents believe that high trajectory growth would continue for next 2-3 years.

Highlighting the growth of Indian real estate sector, FICCI Secretary General Amit Mitra said, "We are going to see a major development in the future where housing industry defines the flip-flop of growth and expansion as in the US. We are moving in that direction."

Mitra also noted that due to upsurge in the real estate, new opportunities have cropped up for architects, master planners, interior designers, finance and legal professionals and vaastu consultants.

Source: http://economictimes.indiatimes.com/

Real Estate India

For many people, selling a home is one of the most important and personal decisions they will make. Not knowing where to start can be confusing and can sometimes lead to bad decisions, especially if you need to sell the home quickly. Seeking the aid of a real estate professional, although helpful, is now always enough. The first thing that should be answered is the most basic, the reason why you are selling your home. Once you have a firm grasp of that, then you can figure out what your main priorities are when you put your house on the market. There are three main things to consider when selling a home and they all have an influence on each other. Those things are timing, pricing, and convenience.

There is also the factor of convenience. A person who is relocating and has already moved out of town will potentially have an advantage over someone who works from home or has indoor pets. It may not be as convenient for the latter to have people parading in and out of the house all day, thus limiting the amount of buyers. A person who owns a vacant home will most likely want their realtor holding open houses and having the home viewed at any time. The convenience of showing your home or lack thereof, will influence how quickly it sells and for what price.

Timing, pricing, and convenience are the three most important things to consider when listing your home. Once you understand your reason for the sale, you will be able to establish which factor is most important to you. The more convenient it is for you to have people view your house, the quicker it may sell, unless, of course, it is priced below fair market value. That is just a more complex way of saying that these three factors have an effect on one another. Once you are aware of that, this important, personal decision may be a bit easier and less confusing.

Real Estate - Gurgaon Property

The Gurgaon saw some of the huge geographic changes and became a hub for every MNC company. With this unprecedented growth Guragon came as a place for living and became the business hub for Real Estate companies and Property dealers. Gurgaon properties dealers are enjoying a boom in their business because of the growing population in the city. The rates of residential property have touched the skies and residential property dealers in gurgaon are making maximum money out of this.

Real Estate giants like DLF and Unitech are planning to launch more than 10 projects in residential sector. They are proposed to build some where about 800-1000 residential apartments in a year. Others who are joining the party is the Ansal group with projects like Valley View Estate on Gurgaon-Faridabad road. In this residential project, one can opt from one bedroom unit of 627 sq ft area, two bedroom apartments rang from 929 sq ft to 1097 sq ft and three bedroom units covering 1300 sq ft of space.

Another prime area of concern is the city’s development at a much faster rate. Every month we see malls & shopping complexes coming up in the city which further adds on to the utilization of office space in Gurgaon. In case this hazardous industrial growth continues then soon there would be a time when we would not be able to find out even one square feet of empty space in Gurgaon. I know this might sound like exaggeration of its own kind but this can be a harsh reality of future as well.