Chennai rentals inching high

Restricted supplies, inordinate delay in processing planning permission and land acquisition delays have curtailed the overall housing supply in Chennai.  The influx of skilled professionals and the twin key sectors that drive growth in the city like IT and automobile are boosting the housing demand across all micro markets.

The state housing board owns land in the city but attempts to develop on PPP model with the private sector have not yielded any tangible result for over five years now.  The low and mid-segment housing sector is the worst hit in the city.  As a result housing supplies will have to be predominantly met by the private developers. The growth corridors and the proliferation of industries have put further pressure on housing demand in the city.

Due to housing shortage, rentals across all micro markets are up by 20-30 per cent, according to industry sources.  With the result people are shifting to suburbs and peripherals areas in search of cheaper accommodation.  Even in suburbs and peripheral areas property prices range from Rs 3,000 to Rs 3,500 per sqft. In a related development, home loan lending rate and dip in affordability levels have necessitated people to postpone their homebuying and instead opt for rental housing.  This has put further pressure on rental market across all micro markets.

The worst hit are the economically weaker sections for whom the supply level could be seen only in peripheral areas where connectivity levels are yet to improve and lack of entertainment centres is a major deterrent.  The government has just announced a massive housing scheme in Thirumazhisai but it will take 3-5 years for implementation.

The influx of expatriates and overriding preference for accommodation in city areas like Alwarpet, Abhiramapuram and Raja Annamalaipuram have also pushed the rentals up in city areas. At the same time very high rentals are also a major deterrent in getting the right tenant in city areas, say realtors. Incidentally residential rental units in the price range of Rs 1 lakh and above are difficult to get tenants in the current market scenario which in turn takes disproportionate time, according to estate agents monitoring the rental market in city areas.

Corporates are cutting costs including perks on housing with the result executives are shifting to suburbs where they are able to get better amenities but at a higher rental.

Source:http://content.magicbricks.com/chennai-rentals-inching-high

Metro to boost West Bangalore

Bangalore

The Metro Rail towards Rajajinagar, as part of Reach 3 of the north-south corridor which will be 24.2 km long, will bring in commercial development to the region. This part of the city has been facing connectivity issues of late and the Metro will open up the traffic congestion in a big way. With better connectivity, property prices are bound to go up, and so will the demand for retail and commercial spaces.

The Metro Rail work is progressing at a fast pace here and has already been completed significantly till Yashwanthpur.

Reach 3

Reach 3 of the Metro Rail project begins from Majestic and continues up to Hesaraghatta cross. The route goes through Sampige Road, Srirampura, Kuvempu Road, Rajajinagar, Mahalaxmi Layout and reaches Peenya and Nagasandra.

“The West of the city has a lot of potential. Some projects are already on the anvil around Yeshwanthpur and it is only a matter of time before the area takes off in a big way. The Metro will give a big boost and I can say that properties on West of Chord Road, Dr Rajkumar Road and Tumkur Road will certainly rise in value,” says Irshad Ahmed, President, Irshads Property Matters. “Once the residential growth falls into place, it is a matter of time before the retailing takes off,” he adds.

Demand for residential and commercial spaces

The re-emergence of IT/ITeS sector as the key driver of the economy has propelled demand for housing here. The Peenya Industrial Area and the IT region around Tumkur Road will see a growing demand for housing. “The residential segment is already doing well, anticipating this good connectivity,” says Zahed Mahmood, Director, Silverline Realty. “There are many housing projects coming up at the Rajajinagar-Magadi Road junction. There are malls coming up here too. More people will want to go and stay in this area now, as it will mean closer proximity in terms of time to the central business district and Majestic. I see growth happening up to Mysore Road,” he adds.

Sampige Road has already undergone a major transformation along the Metro route. This traditional and old locality in the city has a completely different look today. Many of the old bungalows have given way to high-end stores, and the road has become a high street shopping avenue.

The areas around the Metro station will see increase in rentals. The rentals could go upto 30 percent higher. While Reach 3 of the Metro Rail will run from Swastik to Yeshwanthpur, Reach 3A will be from Yeshwanthpur to Peenya.

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Originally posted 2011-03-02 16:29:43. Republished by Blog Post Promoter

JM Solitaire Sector 75 Noida

JM Solitaire Noida is premium project with fully furnished 2/3 and 4 bedrooms apartments. One would enjoy the wold class amenities such as 24X7 security, water supply, Power back, club, gymnasium, swimming pool etc. JM Solitaire Noida is a premium project in affordable price is like dream come true for those looking for quality life.

Originally posted 2011-12-01 05:13:02. Republished by Blog Post Promoter

Spire-Tec Greater Noida, with an assured return of 12%

ICONIC ECO-OFFICE SPACES FOR THE FUTURE

With great pleasure, we wish to inform you that after the spectacular success of Spire-EdgeManesar, which has also received “The Best Office Development in the World” award, Spire World brings to you Spire-Tec Greater Noida, with an assured return of 12%.

Spire-Tec Project Overview:

Spire-Tec is being constructed at the upcoming and emerging Tech Zone-1 on the Yamuna Expressway. This is part of the Govt. Allotted 650 Acresof land for the development of IT HUB with companies like Wipro, NIIT, Ansals, Unitech, and will be one of the biggest IT Park in India.

The Project is Spread over 21 acres of land with an aesthetically appealing view of the riverbank and is extensively landscaped with bio atriums, ramps and bridges, courts and levels, lake, landscape, terrace gardens etc.

Spire-Tec will provide 2.45 million square feet of modern, Grade-A quality business space when completed.

Spire-Tec Locational Advantages:

Tech Zone-1:

• · 650 Acres of integrated IT Park Development
• · Seamless telecommunication networks with optical fiber connectivity
• · Locates beside 350 Acres of SEZ’s of Wipro, Ansals, Uppals, Unitech and KLJ
• · Opposite Gautam Buddha university and
• · Greater Noida Night safari

Growth Drivers for Yamuna Expressway:

• · Yamuna Expressway

o New 6 Lanes (extendable to 8 lanes) Access Controlled Expressway

o Total length of 165 km

• · Gautam Buddha University:

o GBU campus in Greater Noida, is a 511 acres

o About 84000 plus sq. mtrs of constructed area

o Sports Centre

o International Centre

o A fully residential campus housing 5000 students

• · Jaypee Sports City

o The 2500 acres Jaypee Greens Sports City having mid to high rise apartments, a massive Motor Racing Track, Cricket and other international standard sports stadium.

• · International Airport: Taj International Airport

o An International Airport hub has been planned closed to Greater Noida city to facilitate tourism, cargo, aviation and non-aviation facilities.

Key Investment Points:

• · Assured return @ 12% up to possession.
• · Leasing Guarantee @ Rs. 40/- Per Sq. Ft.
• · Min Area – 500 Sq. Ft.
• · Min Investment – Rs 24,00,000/-
• · Max Investment – As Per Request
• · Booking Amt: Rs 2,00,000/-

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Originally posted 2011-01-15 04:25:35. Republished by Blog Post Promoter

Paras Seasons in Sector 168 Noida

Paras Buildtech India Pvt. Ltd. is one of the Indian Real Estate Company which is regarded as the most respected in this field due to its dedication and high level of integrity.

Paras Buildtech India Pvt. Ltd. is one of the Indian Real Estate Company which is regarded as the most respected in this field due to its dedication and high level of integrity. Paras group is building real estate projects in commercial and corporate segments both which are well equipped with modern amenities and excellent magnificent features. Paras Group helps the buyers to experience world class amenities and eco friendly environment at an affordable price by creating this project in green natural environment away from tensions and pollutions of society. Paras Group now came up with a new project named Paras Seasons in Noida sector 168 for giving luxurious lifestyles to its occupants.

About project:

Paras Buildtech India Pvt. Ltd. launched royal apartments in Sector 168, Noida for offering highest standard of living to its occupants. This is located in Noida Greater Noida expressway and is near to Met Life insurance office. These apartments are well furnished and well equipped with modern amenities for giving luxurious lifestyles to its occupants at an affordable price.

Specifications:

Apartments of Paras Seasons are equipped with Double height entrance lobby in each tower, 3 tier security services, wireless complex, energy efficient building and it is covered with 75% greenery. Moreover these apartments have the facilities of modular switches, individual R.O unit, anti skid tiles, flush doors, double bowl stainless steel sink etc for giving comfortable lives to its occupants.

Floor Plans:

Paras Seasons offers 2, 3 and 4 BHK luxurious apartments equipped with modern amenities at an affordable price. 2 BHK covered 795 to 985 sq ft of area, 3 BHK covered 1130 to 1625 sq ft of area as well as 4 BHK covered 2100 sq ft of total area.

Amenities:

Paras Seasons are equipped with world class amenities including squash courts, club house which has jogging track; children play area, yoga pavilion, swimming pool, restaurant, beauty saloon as well as billiards, commercial centers, Hyper market, Cricket academy, family party lounge, facility management and security by professionals, 24 hour power back up and water supply, kitty party lounge and much more.

Originally posted 2011-03-09 16:43:44. Republished by Blog Post Promoter