Due of higher cost of Mumbai Property
, Bewaring of the enhancing need for smaller homes, contractors are consisting of 1 and 2-BHK apartments in their current offerings. As the economy goes through a stage of slowdown, the demand for residential properties is largely skewed to 1-BHK apartments.
As per market research, the supply of 1 BHK Flat in Mumbai has actually been increasing steadily for the past couple of months. "Every contractor wishes to construct a 1-BHK Flat today, The statement shows the taste and rather, the have to cater to the requirements of a buyer who really wants to purchase a house for himself.
According to property professionals, the real estate developers in Mumbai are not left with much selection. Provided the cost points prevailing in Mumbai, it is practically difficult for a big area of society, to purchase a home in Mumbai. On the concern of what is the meaning of inexpensive housing in Mumbai. In Mumbai, a property in the bracket of Rs 1-1.20 crore could be termed as economical. This is not surprising, given the reality that property prices in Mumbai are equivalent with cities such as New york city, London and Tokyo.
The house buyers are mainly requiring compact homes today. They prefer to select 1 BHK Apartments in Mumbai
that are not too little. A 600 sq ft, 1-BHK apartment usually fits the bill. There is traction in compact 2-BHK apartments having an area of 800-900 sq ft also. Developers in the city have now comprehended this and have therefore, started building smaller houses, So, who is buying? Single experts and young married couples are the ones who are searching for 1-BHK apartments. Cautious of the high property rates and the big trouble of EMIs for an extended period of time, this segment wishes to keep their liabilities at a minimum. This is the main reason for picking a budget-friendly option of a 1-BHK or compact 2-BHK system. Noticing this trend, developers, who typically kept away from this category of real estate due to low margins, are now urged to construct smaller units. It has, in fact, helped designers improve sales in an evidently slow-moving economy.
As per market research, more than 70 per cent of the supply in the market is coming from the 1 and 2-BHK apartment category. This suggests that from every 10 real estate systems, 7 are either a 1 or a 2-BHK. This is where need goes beyond supply, as more than 80 per cent of the purchasers are trying to find homes in this category. Nevertheless, supply of these smaller houses is more visible in localities in the western suburbs, Navi Mumbai and Thane.
Yamuna Expressway Begins from Greater Noida
With the increase in the influx of people from the rural area to the urban areas the urban population also has increased. With this increase the flow of traffic on roads also is on the rise. This calls for better infrastructure and roads for accommodating all such increase. Yamuna expressway opening was a venture in this direction. There were many objectives in front of the government in question in laying the expressway and most of them are seen to be fulfilled. It was inaugurated in the year 2012 August. Though it was done so two years behind its scheduled date its opening has brought a lot of relief for the road users. It begins from greater noida and culminates on the road toward Kanpur and Agra the NH 2.
One of the objectives was to provide a fast moving corridor for the movement of different kinds of traffic on the road. The main purpose of this was to reduce the travel time and to a large extent this has been achieved as the distance of travel between the said cities has reduced a lot. Another aim of taking up of the project was to connect the commercial centers on the east of Yamuna and the main townships and the development of all the adjoining areas here. The last but not the least purpose of the expressway project was to relieve the already congested NH 2 road which runs through densely populated cities like Faridabad, Palwal, Ballabgarh. This has helped the reduction of the pollution and carbon footprint caused by the vehicles passing between Agra and New Delhi.
Many more changes are seen and will be seen with the making of the expressway. The Yamuna expressway plots
are a lot in demand and the real estate prices
are on the rise. The individuals owning property can make good profit selling their property here. The property dealers charge double the amount of Yamuna expressway plots premium as the prices of the land has doubled and in some places tripled too. Increase in the demand of land both residential and commercial has brought about the real estate boom. There is a lot more of commercial activity in the Yamuna expressway area now than before. With the increase in such activities more and more development has taken place and will take place in the future too.
There is a lot of scope for the Yamuna expressway future development
too. This kind of development calls for a lot of spending and there should be some source of income for this. One such source is the charging of toll at three points on the Yamuna expressway. The Yamuna expressway toll rates are different for different kinds of vehicles. The smaller vehicles like cars and jeeps than the larger and heavier vehicles like buses and trucks. The table of such toll rates is available at such points. Another benefit of the making of Yamuna expressway is that vehicle fuel mileage has improved and there is a reduction in their wear and tear too which will decrease the logistical cost too. All in all the making of Yamuna expressway has been beneficial in many ways to many people.
Indian Real Estate Market
2012 was a good year for the Indian real estate market. Residential property prices in India
had a dream run and went up by 30 to over 60 percent in the national capital region (NCR) of Delhi. Experts feel that 2012 will also witness growth in property markets but prices will not rise as steeply as in 2011.
In the suburbs, prices almost doubled during 2010. Gurgaon
, Noida, Mayur Vihar, Patparganj, Dwarka, Rohini, Paschim Vihar, Vaishali, Indirapuram and areas as far-flung as Ghaziabad witnessed unprecedented surge in property prices. In Gurgaon, a three-bedroom flat on 1600 sq feet was available for Rs 1.2 Crore to 2 Crore in early 2012. Now, prices have gone up to Rs 1.5 Crore to 3 Crore. In Noida, a similar flat was available for Rs 70 to 80 lakh in January 2011. Today, the same flat costs anywhere between Rs 90 Lakh to 1.2 Crore.
In fact, the pace of price rise in 2012 was so steep that property dealers found it difficult to keep themselves abreast of the latest prices in their micro markets. A dealer said that they show a property to a buyer only if he is ready to buy the property within a fortnight. If he sees the property, takes the price rates and comes back after a month to do the deal, the deal can't be done because prices have gone up.
Such escalation in prices happened not only in the national capital region of Delhi. In most cities in India, the scenario was more or less the same, though the price rise in Delhi was the steepest. According to a report in some of the micro-markets within Bangalore, Chennai and Pune, residential property prices went up by almost 50 per cent. Mumbai
, however, did not witness very sharp rise in prices during 2012. Prices in the main city areas like Worly, Cuffe Parade and Malabar Hills saw some correction. In suburbs like Santacruz, Andheri and Bandra prices firmed up by 5 to 10 per cent.
All major markets - metros and Class A cities - across India are witnessing extremely high rates and a high degree of suburbanization. Following a lag in infrastructure development, currently most suburban areas are witnessing greater infusion of capital for upgrading infrastructure. Better road connectivity, public transport networks and dedicated business promotion zones are being set up by the respective state government. This has increased the attractiveness of living in such suburbs. Social infrastructure, in terms of schools, medical facilities, colleges, etc., is also fast catching up to cater to the now increasingly profitable suburban audiences. A similar growth trend is visible now in tier II cities like Ludhiana, Chandigarh, Jaipur, Hyderabad, Kochi, etc. Business led demand for commercial office space has fuelled demand for residential and retail properties
Property Investment in India
These days more and more individuals are becoming interested in investing in rental property
due to the huge number of benefits provided by having rental property in India.
One of the biggest of those benefits is the reality that when you invest in rental property, you are able to take ownership of a possession that is concrete.
If you have actually had issues about investing your tough made cash in monetary instruments in the previous however are mindful that you require to invest your cash in order to expand your wide range, real estate provides the best option. Even with the existing softening of the real estate market, investing in real estate stands for an exceptional financial investment chance.
Earnings is an additional incredible benefit of purchasing rental property. While you will should subtract the home loan repayment if you fund the property and any appropriate expenditures, a rental property is frequently able to produce continuous earnings for you.
The worth of recognition must not be ignored either. Usually, such properties
enhance in worth in time. While gratitude can never ever be assured, if you put in the time to select a property in a location that is steady then there is an excellent possibility that the property will remain to enhance in worth as time passes.
Rental property owners are additionally able to take benefit of leverage. As an outcome, you are able to start taking benefit of the advantages provided by having rental property while just investing a portion of the overall worth of the property.
Tax benefits are an additional crucial perk of having rental property. If you get a home loan on your property, you will often have the ability to subtract your home loan
interest repayments. There are additionally a lot of various other tax reductions which can possibly be taken when you have rental property consisting of the expense of repair works and enhancements.
The reality that you can be your very own employer when you buy rental property is an advantage which needs to not be undervalued. Whether you are thinking about stopping your existing task to become a full-time rental property investor or you are wanting to support your existing earnings, you can take advantage of the reality that there is a remarkable quantity of freedom to take pleasure in by possessing and running rental property.