Rustomjee Paramount, Khar

Rustomjee Paramount, Khar

NEW DELHI: India’s eight major cities saw launch of 1.32 lakh homes during January-September 2013, up by five per cent from the year-ago period, according to global real estate consultant Cushman & Wakefield.

These eight cities — Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, NCR and Pune — had witnessed launch of 125,590 residential units during the corresponding period of 2012.

As many as 31,434 units were launched in affordable segment, while 75,529 and 24,032 homes were introduced in the middle-income and high-end segments, respectively. Nearly 1,100 luxury homes were also launched.

Read more: New home launches up by 5% in January-September: Cushman & Wakefield

Is this the right time to invest in Real Estate?

Rustomjee Elanza

Rustomjee Elanza

A question playing on the mind of many buyers and investors today is – Is this is the right time to purchase real estate? Given the economic slowdown, high inflation and interest rates and political uncertainty, the overall sentiment running among the consumers is negative.

However, at any given time, the suggestion for end users would be anytime you have the propensity to save and spend will be the right time to invest in real estate, say experts. The market has witnessed a slowdown in terms of price. Yet, the mid-income group is witnessing a stable and robust demand as the trend of urbanization continues. Massive demand is available so definitely this is the right time to buy. The conversions may have reduced but the end user is still looking for good options to invest in.

“The transaction from the investor’s end has witnessed a cutback but now is a great time for an investor to tap on the rental opportunity. Investor does not know where the market will bottom out; therefore it is an attractive time to invest when the market is still low compared to other times”, says Percy S Chowdhry, Director, Rustomjee Group.

Read more: Is this the right time to invest in Real Estate?

Mumbai Records A Rise of Buying In Realty Sector

Mumbai Records A Rise of Buying In Realty Sector

Mumbai, has recorded a rise of 16 % in the registration of properties in the year 2013, when compared to the data for the first six months of 2012. Reporting the figures for the same period in the year 2013. There has been a multifold increase in the number of properties being sanctioned in the first two quarters of this year as compared to the figures recorded during last year. Another prominent push for the growth in sales of homes has come from the easy and lucrative schemes offered by the developers. Schemes like the subvention plan has lured the home aspirers to cash upon easy payment options that requires not more than 20% of the net value of the property to be paid up-front.

To know more: Mumbai Records A Rise of Buying In Realty Sector

HDFC India Homes Fair – London 2013

At HDFC’s India Homes Fair that was held in London, our representatives presented our upcoming and ongoing residential properties across Mumbai and our townships in Thane and Virar.

HDFC India Homes Fair- London 3

HDFC India Homes Fair- London 2

HDFC India Homes Fair- London 1

HDFC India Homes Fair- London 4

MID-Day Hot Property: Home Truths – The ‘D’ of Home-Buying: Documentation

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For purchasing a house you need to have the requisite set of documents. These documents are a source of your valid details. The documents are the ‘personal documents’ required for salaried, self employed professional or self employed businessman.

Afternoon: Consumer-Friendly Real Estate Bill To Come Up In Parliament

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The government is all set to introduce a buyer friendly real estate legislation which aims the consumers and bring transparency in the sector in the Monsoon Session of Parliament.

The Monsoon Session of Parliament will begin on August 5 and the Bill, after its introduction, is likely to be reffered to the Standing Committee of Parliament for examination.

The Hindu Business Line: Curbs on property investment abroad may boost premium segment in India

Rustomjee Paramount

Rustomjee Paramount

In its bid to control the outflow of capital from the country, RBI slashed the annual cap on automatic outflows from $200,000 to $75,000 for an individual. Along with it, a ban has been imposed on overseas real estate purchases with immediate effect. (Above) A bird’s-eye-view of South Mumbai real estate.

RBI curbs on overseas property investments to protect the rupee seems to be good news for Indian real estate as capital which otherwise would have been diverted abroad will now stay in the country.

Read More: Curbs on property investment abroad may boost premium segment in India

Financial Chronicle: First Time Home Buyer? Count Your Extra Outgo On The House

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When investing in an apartment or a house, the first time buyers should be careful about additional charges such as taxes and maintenance, which he reckons only after the deal is struck and the details are explained to him.

Besides the cost of the property calculated per sq.ft for the total are, the buyer has to plan additional 20-30 percent of expenditure on stamp duty, registration fee, service tax, advance deposit of maintenance charges for 12 months, legal charges, water and electrical connection fees, car parking, club charges and other charges.

Hindu Business Line: Choosing Your Nest!

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Home buyers have the choice of buying either an under-construction property one one already built and ready to occupy. It depends on your motive of buying the house, budget and the level of flexibility. Broadly speaking, a house under construction makes more sense if you are an investor. But if you are an end-user and plan to live in it, a ready to occupy property may be a safer choice.

Mid-Day: The Dollar Effect

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India offers a wide range of real estate options for various budgets, with improved quality and features of properties. Currently the larger cities like Mumbai are witnessing a slump in sales forcing the developers to offer good deals. “There is a possibility of two-fold benefits for the NRI investors – the current weakening of Indian rupee is expected to be short-lived phenomenon, and once the Rupee starts appreciating, the investor will get more dollars for the same investment in rupees. Secondly over the mid-long terms (three-five years), property prices in India will appreciate considerably, thus giving good returns to investments,” said Mr. Om Ahuja, CEO – Residential Services, Jones Lang LaSalle India.