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New Hut Infrastructure Pvt.Ltd.! Real Estate Company In Lucknow: July 2016 0

Sunday, 24 July 2016

Top tips for a smart investor

Lucknow is fast shedding its image as a tier II city and graduating into a plausible investment ground.
Pratap Bidasaria is a 32-year old businessman. For work and settlement, he mostly stays away from his hometown Lucknow where he has his ancestral home. But when it comes to an investment, he settled for a second home in Gomti Nagar.
Biasaria is not alone, many natives of the city are contemplating on buying real estate assets.
Lucknow is fast shedding its image as a tier-II city and graduating into a plausible investment ground. Popular research firms such as CRISIL have already mapped this city as one with potential.
No wonder, while on one hand, homebuyers are eying upcoming sectors of Noida for an investment, many others have realised Lucknow's calibre as the real estate capital of the state.
Investing in Lucknow
Manohar Vidhyarthi, broker at Shankar Property Venue says, "Entry costs are relatively less than
what it is in big cities but Lucknow's potential is promising. If you are an investor, consider areas such as Gomti Nagar. It is a prime area with values in the range of Rs 25 lakh to Rs 1 crore. Rental market for spacious 2 and 3-BHK units runs at Rs 7,000-25,000 per month."
As per data with Magicbricks, one could look at areas like Gomti Nagar, Hazratganj, Mahanagar, Jankipuram, Vikas Nagar and Indira Nagar for sizeable rental returns.
This is because of proximity to job drivers which makes it easier to get constant income as rents.
Manas Singh, consultant, Mansa Property Services says, "One can see that older areas like Rajabazaar, Rajajipuram, Rakabganj became thickly-populated due to relatively low real estate values. Infrastructure herein is poor but areas like Chowk still command as much for a property as you would have to shell for an average flat in Gomti Nagar. In the older areas of Lucknow, buyers are usually more traditional. They would already have their houses here but try to expand by renovation or a second investment in the same area."
Singh further says, "The newer generation of buyers wants to keep away from crowd and thus options like Gomti Nagar open up to them. These are either end-users or pure investors. Moreover, while traditional areas have independent houses, new buyers are looking at apartments for safety and convenience. Every prospective buyer knows that if they ever need to move out of the city for work, they can always bank on their flats in such areas for regular rental returns."
Properties trending in Lucknow
"Independent houses and plots have always defined Lucknow's tehzeeb and culture. But buyers are drifting towards a transition. Most young investors do not wish to wait till a layout develops in about four to five years and therefore plotted developments are losing its charm. Tenants also prefer apartments to independent houses because of the safety factor," notes Vidhyarthi.
"The fact that the rich live in bungalows have also become irrelevant in today's context. Real estate has emerged as a safe option for investment. Many wealthy buyers are opting for spacious apartments. These are either bureaucrats or those that have got transferred to the city as senior management in some corporate firm in Lucknow. This has made new age investors to invest in apartments because they realise that the city is transforming and they no longer need palatial houses to charm a potential tenant," adds Vidhyarthi.
Clearly, there seems to have been a shift.
Trend watchers feel that buyers are opting for more investment.
"If a conscious buyer has Rs 1 crore in hand, he would learn how to make two investments, one for end-use and one for rental returns," believes Nandan Pushp of Aangan Properties.
Before investing in the Lucknow market as an investor, it is advisable to check areas close to business districts, colleges to make the right investment!
Sneha Sharon Mammen, Times Property, Magicbricks Bureau/ Lucknow

Sunday, 17 July 2016

Emerging growth corridors in India make way for invests

When the new government took charge in 2014, it was expected that the real estate market would get revived, but property prices remained low. As a result, the urgency that usually surrounds the decision to buy a house-for investment or residence alike-abated. What replaced this urgency was complacency; would-be home buyers began to feel that since prices are in a downward spiral, they should delay the purchase of a home until prices fall even further. 
But data suggests that the realty market has remained stagnant, and it is unlikely that property prices will fall even in the latter half of 2016. Thus, these delays may very well be in vain.

Further, experts from JLL India and Cushman and Wakefield suggest that prices of real estate are likely to rise in 2017 and beyond, confirming that 2016 may be the last year that homeowners can enjoy reduced rates. 
Deciding where to invest
Even if you've made the decision to invest, choosing a location to buy property can seem like shooting in the dark. For people who bought houses in Gurgaon 20 years ago, for instance, the property price appreciation would have been a life-changingly pleasant surprise. Similarly, Powai wasn't always the buzzing entrepreurial hub that it is today. But with massive investment in infrastructure and setting up connectivity with Mumbai and other suburbs, it now boasts of being the birthplace of pioneering startups such as Housing and Olacabs and one of the most sought after real estate locations.

But is there a way that you too can discover areas that are on the verge of a real estate boom?

As of January this year, there might just be. As part of its "Smart Cities Mission", the government released the first list of 20 cities it is working towards making "Smart". This list has made it much easier to recognise signs of development a real estate investor must look out for when deciding where to invest. 
You see, when a city has secured adequate water and electricity supply, proper sanitation and waste disposal systems, robust IT connectivity and digitalisation, effective health and education facilities or even greater connectivity to metros, it shows the government's dedication to developing it.

Further, as companies start setting up base, there is an influx of employees, and that increases the residential real estate demand, forcing property prices up. Boisar, an industrial town on the outskirts of Mumbai, would not have been on a home buyer's radar up until a few years ago.

It was under gram panchayat rule and lacked connectivity to any major metros. However, Boisar is now being connected to Mumbai and Gujarat through a 4 lane railway track, and to Delhi through the Delhi-Mumbai Industrial Corridor.

The last decade has also witnessed the creation of over 1,00,000 jobs with companies such as TATA, Raymond and Bombay Rayon setting up shop, as well as the establishment of reputed hospitals and educational institutions in Boisar. These factors have increased the demand for residential real estate, due to which property prices are on the verge of rising.
Similarly, Bahadurgarh was an unknown city in Haryana, until it got its own station on the Delhi Metro rail network and became a part of Delhi NCR. Now, with investors such as TATA Housing having invested 600 crores in affordable housing projects, it's one of the emerging corridors to buy property.
What this means for home-buyers is that identifying ideal places to invest isn't out of your grasp anymore. When signs of development begin to appear, it means that real estate prices are on the cusp of rising. To benefit from this extensive growth and appreciation, it's essential you grab the opportunity to buy a home before it's too late. 

Sunday, 3 July 2016

Real Estate Regulation and Development Bill

A bill seeking to regulate the real estate sector, bring in transparency and help protect consumer interests was passed by the Rajya Sabha today.

Moving 'The Real Estate (Regulation and Development) Bill, 2013' for consideration and passage, Urban Development Minister M Venkaiah Naidu said it aims to protect the interests of buyers and bring more transparency in the sector.

The Congress had extended its support to the Bill, which was passed by a voice vote in the House. It is touted as a major reform measure to regulate the vast real estate sector and bring order in it.

READ: Real Estate Regulator Bill passed! 10 things you should know about it

"The Bill is need of the hour," Naidu said, responding to clarifications by members saying it can see further changes in the coming times. He also sought the support of AIADMK members, who had opposed the measure.

He said the bill would prohibit unaccounted money from being pumped into the sector and as now 70 per cent of the money has to be deposited in bank accounts through cheques.

"There will be no discrmination of any kind on basis of religion, region, caste, creed or sex and gender and we will include that in the rules," Naidu said, responding to members' clarification, adding "there has to be single-window clearance for all approvals."

The Bill also provides for imprisonment of up to three years in case of promoters and up to one year in case of real estate agents and buyers for any violation of orders of Appellate Tribunals or monetary  penalties or both.

Naidu said it proposed that a minimum of 70 per cent collections from buyers should be deposited in separate escrow account to cover cost of construction and land.

It will help establish state-level Real Estate Regulatory Authorities (RERAs) to regulate transactions related to both residential and commercial projects and ensure their timely completion and handover, the Minister said.

Appellate Tribunals will now be required to adjudicate cases in 60 days as against the earlier provision of 90 days and Regulatory Authorities to dispose of complaints in 60 days while no time frame was indicated in earlier Bill, he said.

"It brings in only a regulation and not strangulation. This Bill is not against anyone...Real Estate Bill will renew investors' confidence and ensure timely completion of projects and create more opportunities. In this way, it will help in achieving the target of 'Housing For All'," he said.  

Friday, 1 July 2016

Shaheed path: On a growth path

One of the most preferred areas for homebuyers in Lucknow, Shadeed Path offers the best at an affordable rate.
Over the years Shaheed Path has emerged as one the most popular residential areas preferred by investors and homebuyers alike. People from different parts of the Lucknow and also from other parts of the state have made Shaheed Path their homes.
There are 2 and 3-BHK residential houses offered from Rs 20 lakh onwards. The amenities provided includes reserved parking, lifts, power back up, 24X7 water and electricity supply and security.
In Shaheed Path, the most popular units are 2 and 3BHK flats. A 3-BHK apartment of 1200-2400 sq ft in size is offered between Rs 34 to 81 lakh. One may buy a 2BHKs in the budget segment of Rs 20 to 48 lakh. These 2 BHK houses are 1000-1400 sq ft in size.
Shaheed Path is an elevated outer bypass road. It connects two National Highways -Kanpur Road (NH-25) with Faizabad Road (NH-28).
The total stretch of the flyover is 22.5 km.
The four-lane flyover has uniform width and starts from Transport Nagar at Kanpur Road and meets at Chinhat at Faizabad Road.
Jai Prakash Narayan International Convention Center is under-construction and is likely to be completed by October 2016. There will be a museum, library, guest house, open gym and spa for recreation within the premises of the centre. Once completed this will be another attraction of the area. The Convention Center connects important localities like Gomti Nagar and Gomti Nagar Extension to allow residents to use the facility accordingly. The elevated service lane near Vipul Khand in Gomti Nagar is yet to be completed.
Some of the localities present close by are Vibhuti Khand, Vikrant Khand, Gomti Nagar and Vivek Khand and being surrounded by such residential hubs also makes Shaheed Path more popular. The UPSRTC bus services ply within the area connecting it to the other parts of the city. Although, swift connectivity is available, currently very limited public transportation is operational in these areas. To ease the commute, an underpass is under construction near the LDA area. Once the underpass gets operational, it will benefit the residents of Indira Nagar, Amar Shaheed Path, Makhdoom Pur, Shaheed Path and Faizabad Road.
Metro connectivity
The upcoming Metro plans in Gomti Nagar will further enhance the connectivity leading to rise in demand of properties.
There are under construction, ready to move in and resale properties in the area. The area is growing a faster pace and is ideal for retirees, family and couples. The area has all the basic amenities for the local residents. There are more than six schools, four colleges, eights hospitals; more than seven restaurants and more than ten banks plus over six super markets.
Locational advantage
The locality is not far off from the airport and railway station. The Amausi International Airport is 23km via NH-25A and the Lucknow Railway Station is 13-km via Lohia Path. There is also good road connectivity with Amar Shaheed Path being connected to Faizabad Road which is less than one km away.
Atul, a resident of the locality says, "Shaheed Path is a good and peaceful residential locality to reside in. It is well-connected with shopping malls, airport, hospitals and schools. Gated communities present are secure and safe. It has rich flora and fauna. The physical and social infrastructure is within reachable proximity."
Source: Times Property, The Times of India, Lucknow