Real Estate Growth to get boost in the second half of 2014

The real estate sector is viewed to get boost in its growth in the second half of 2014 and the major factors that are considered to drive the growth are the formation of new government in the center post general election, cuts in interest rates, and corporate dealings.

Real estate experts are common in one opinion that post general election with the formation of government increase in investment in business is expected that will enhance the growth of the sector in the second half of 2014.

With this outlook about the real estate sector, let us take a look at the performance of the market in different sub sector and segments across the country.

Residential Segment  

The year 2013 was clearly a dull year, most of the residential segments in major cities such as Mumbai, Delhi-NCR, and Pune saw decline in sales in the first three quarters of the same year. According to one of the global property consultants the evaluated average prices increase by 10 per cent over a year-on-year basis in the first three quarter of 2013 but the growth inclined towards suburban and emerging areas in Tier II cities and rental value increased by 8 per cent during the same period.

Consumer sentiment is expected to soften in the first two quarters of 2014 and already it is witnessed that consumers are sitting on the fence and waiting for the right moment to grab the opportunity. During 2014 the residential prices are likely to increase by 10-12 per cent and absorption of residential units will increase and thereby reduce the piled up inventory.

In the second half of 2014, the interest rates are expected to reduce and this will drive the sales and absorption of the residential units.

Commercial Segment

Office: The office space segment suffered the most in 2013 as occupiers delayed leasing activity due to downcast and ambiguity. The absorption of office space in major seven cities of the country decreased roughly 14 per cent over quarter-on-quarter (q-o-q) basis in the third quarter of 2013. In 2014, the vacancy rates in office properties will increase due to increase in supply and absorption is likely to remain moderate.

Retail: With the entry of multi-brand retailers, the retail segment is likely to see huge activities in 2014. The entire vacancy in malls has reduced by 2 per cent due to increase in newly launched malls and those malls that were started in the year 2013 have witnessed 94 per cent of occupancy.

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Significant Points for Safeguarding Buyer Interests from Fake Builders

With the growing real estate market many builder raised overnight in which some rose to fame and many were fake who looted buyers dream and their money. Here is a scenario how the builder framed his project and looted the buyers.

False Assurances

A recent scam of a well-known builder who intended a dream project with world class amenities was revealed with many discrepancies.

The planned ‘dream’ project was intended on a desolate land, which was used to scrap yard by the localities. The builder converted the plot through unfair way and planned with several towers and floors in the area in illegal means.

The project was even launched with highlighting the location, neighborhood, and amenities. The builder promised for a proposed metro station in the corridor of the project, a golf course where slums, villages and polluting factories were setup. Later, it was found that the metro project was scrapped within a few months of the proposal.

This incident is an example to make buyers in taking precautionary actions. Though builders may offer attractive projects, buyers should not get lured by them and conclude their buying decisions on projected developments. Buyers should also know that development of public infrastructure may raise the property prices but if the development project is cancelled the value of the property may reduce or remain the same.

To avert any such fraudulence, buyers can include these points in their checklist before deciding on any projects:

• Check for proposed public infrastructure at the builder’s office
• Confirm at the district town planner’s office about construction plans of rail links and highways
• Check for conversion of land at the Mandal Revenue Office (MRO)
• Verify at the development authority’s office or in the regulations of the area about the land obstacle and the height of the building

Along with these, buyers should also check for the sales agreement papers in detail for the house plan, EMIs, carpet area, balconies or lobbies, and property prices are in place and are as approved by the municipal corporation.

For more articles on realty business go through Sovereign Developers Review blog pages.

 

Sovereign Unnathi – A Model of Contemporary Living

Sovereign Developers offering several residential projects in prime locations of Bangalore City and other regions across the country presents again one of its residential projects called Sovereign Unnathi in Bangalore, which is an exact model of contemporary living.

This project is located off Horamavu-Kalkere Road in North Bangalore that brings fashionable living with luxury amenities and unmatchable service. This project is spread across an area of 12.5 acres with 26 towers consisting more than 1,600 flats.

Some of the amenities that are incorporated in this project for the home buyers to enjoy a modern day living are health club, children’s play area, paved garden walk, swimming pool with toddler’s pool, commercial complex, departmental store, coffee/tea shop, Laundromat, boutique, restaurant, pharmacy shop, bank extension counter, communication center, amphitheater, well-equipped gymnasium, and many other features.

This project also has Eco-friendly features like sewage treatment plant, rain water harvesting and more. The project states contemporary living with facilities like security kiosk, water facility, electricity, power back up, and other brilliant services that is sure to win the hearts of all home buyers.

Visit  official website of Sovereign Unnathi to get more project details and business contact.

 

A Synopsis of Finest and Opulence Apartment Projects In Bangalore

Bangalore’s 5 per cent population belong affluent category who can afford to finest and opulence apartments in the city. As the name finest and opulence signifies; this 5% of population only can afford this projects. Before taking a look at the projects that are being developed in Bangalore, let us understand what does finest and opulence apartment technically mean in the realty industry. The features of these high-end apartments are:

1. These apartments usually comprises 4 bedrooms and more, accommodation for servant, separate family and living areas, etc
2. World class flooring, sanitary fittings, home automation systems etc.
3. Measures more than 3000 sq. ft. and prices exceed Rs.3 crores.
4. Projects often developed by builders and developers who are proficient and have enough resources

Project features in different location and pricing:

1. Central Business District (CBD) – Considered as the most expensive residential area

• Consists locations like MG Road, Lavelle Road, Vittal Mallya Road, Residency Road, Ulsoor Road, Cunningham Road, Infantry Road, and Sankay Road
• Price range between Rs.20, 000 per sq. ft. to Rs.33, 000 per sq. ft. along with deposits, taxes, stamp duty and registration charges as on Dec 2013
• Plot size measures 4000 sq. ft. to 9000 sq. ft.
• Projects incorporated with magnificent specifications
• Demand from top executives and businessmen who want to live in the heart of the city and enjoy world class construction quality

2. Key Old Bangalore Areas – Most sought after residential area

• Consist locations like Koramangala, Indiranagar, Jaya Nagar, JP Nagar, Sadashiv Nagar, RMV (Raj Mahal Vilas) etc.
• Price range between Rs. 8000 per sq. ft. to Rs 15000 per sq. ft in addition deposits, taxes, stamp duty and registration charges as on Dec 2013
• Plot size starts from 2500 sq. ft. to 5000 sq. ft.

3. Silicon Valley or IT Belt – Suburbs of Bangalore

• Covers locations like Sarjapur road, KR Puram, Marathahalli, Brookefield, Whitefield
• Houses schools, hospitals, malls, shopping and recreation etc. that caters to all residents need
• Price range between Rs. 7000 per sq. ft. to Rs. 10000 per sq. ft. and deposits, stamp duty and registration charges, taxes, as on Dec 2013
• Plot size starts from 3000 sq. ft. and to 8000 sq. ft.

4. North Bangalore (Enroute to the Airport) – Emerging suburbs

• Includes locations like Hebbal, Thanisandra road, , Yalahanka, Hennur Road, Jakkur, Dodballapur road and Devanahalli.
• Price ranges between Rs. 7000 per sq. ft. to Rs. 13000 per sq. ft. in addition deposits, taxes, stamp duty and registration charges as on Dec 2013.
• Plot sizes starts from 3000 sq. ft. to 6000 sq. ft.

For more articles on real estate business visit Sovereign Developers Reviews blogs.

 

Metro’s Phase II to Drive Real Estate – Bangalore

The new Metro Phase II of Namma Metro a part of Green Line of the Bangalore City Metro, which is a 10.3 kilometer of track was inaugurated by Karnataka Chief Minister Siddaramaiah and Union Railway Minister Mallikarjun Kharge. The new Metro Phase II track will join city’s north western suburbs in Peenya to Sampige Road and will link MG Road in the city’s Central Business District (CBD).

Remarking on the launch of new line, one of the prominent developers of the city said that the metro will surely have significant influence on real estate development and also stated that one of their upcoming projects is situated in Peenya Metro Station. Furthermore, he added that the Metro is a windfall as it gives good connectivity to commuters and hence drives the price appreciation of properties in the locality.

Likewise, the president of CREDAI said that commencement of Metro Rail has changed the real estate setup absolutely and a large number of residential projects, hospitals, and schools are coming the vicinity.He also stated that it is observed that professionals working in CBD are moving towards the metro line to decrease their commuting time and also added that the Floor Area Ration (FAR) will drive the commercial development around the Metro. And, commercial operations have already started along the track.

For more articles and update news on real estate business of India  go through Sovereign Developers Review blogs which is maintained by the company.

 

Sovereign Developers – Premiere Builder in Bangalore

Sovereign Developers and Infrastructure Limited has created successful history in the real estate industry within short period of time. The company was established on 2005 by two dynamic leaders Prakaash Kumar Singh and Deepakk Kumar. Currently the builder has three major residential projects launched in Bangalore. These are Sovereign Unnathi (Located at off Hormavu-Kalkere), Sovereign Sonaa (located off Bangalore-Pune Road (NH4)) and Sovereign Lakeview (located at Vidyaranyapura ). The construction status of Sovereign Unnathi is going to be completed within few days. Others Sovereign Sonaa and Sovereign Lakeviews are under construction. The flats which are available in those projects are really affordable and even middle class Indian families can easily afford them to buy. Sovereign Unnathi has won the award for “The Affordable Housing Project of the Year-2013”. For more details regarding the company and real estate projects visit official websites.

 

 

 

 

 

 

 

A Video on Sovereign Unnathi Construction Status

Sovereign Unnathi is a luxurious residential project which has won the award for “The Affordable Housing Project of the Year-2013”. It is located at prime location of Bangalore where all basic facilities like transportation, hospitals, educational institutions, financial institutions etc. are available within few distances. The flats available in this project are very affordable and low price when compared to current real estate market. The construction work is also going to be completed within few days and will be handed over to the customers. For more details regarding the apartment project visit official website of the company and YouTube video given below.

 

Property prices to increase in Bangalore in 2014

Attention, property buyers who have plans to buy property in the upcoming year, then be sure that you implement your plan in the mid of the year 2014.Many industry experts do agree that the property prices in Bangalore will increase from the second half of 2014 and this forecast is assessed after a thorough methodical analysis of the Bangalore real estate market and its developing pattern. According to the market analysis, the prices of commercial and residential properties in Bangalore will see an upsurge.

While it is estimated a rise in properties price, experts say that for property sellers is worth waiting till the second half of 2014. Though, it is predicted for a rise in property prices but Bangalore residential real estate will remain to draw property buyers from all over the world.

Real estate developers are somewhat excited about the predicted rise in property prices and are trying their best to provide better options to the buyers. The rental demand in the real estate market is also robust in Bangalore and the areas neighboring the city. Many builders are offering many property option in order to attract more potential buyers in and around the city.

In addition to this, the cut in home loan rates is encouraging buyers to invest in real estate market of Bangalore City. Furthermore, the demand is driven by the favorable pre-launch offers and reasonable discounts on base prices offered by the real estate developers and builders. As the real estate sector seems to be potential for a rise in properties, buyers intend to invest in real estate market. As price increase is anticipated in the second half of 2014, the demand of residential properties in Bangalore is rising above the peaks. Prospective buyers who desire to pursue profitable returns in this long run will find this year of 2014 as the ideal time for investments. The sky-high and steady demand for residential properties in Bangalore will have its impact in the viable progress of the garden city.

To read more articles on real estate industry business go through Sovereign Developers Reviews official blogs.

 

Sovereign Lakeview Construction Status – SDIL

Sovereign Developers and Infrastructure Limited has already started construction work of recently launched luxury residential project Sovereign Lakeview. Company has the target to complete the construction work and hand over it to the customers within the promised period. The project will be upcoming with 10 high rise towers and it will consist of 28 floor each. It is spread over on 13 acres of land and surrounded with beautiful natural green scenery. For more details go through video and official website of the company.

 

Sovereign Unnathi Latest Construction Status Photos