This year’s hotspots for realty investments

Speculators as well as long term residential buyers have always been attracted to the real estate market, and despite the economic slowdown, the glitter of realty never seems to lose its sheen. India has always been noted for its lucrative property hotspots and let us examine five such ones for the year 2014.

Mumbai, arguably the commercial capital of the country has the golden lucre of realty on it. And all that glitters in Mumbai realties have proven to be indeed platinum. This economic powerhouse is the most populous in the country and is strategically located to industrial and commercial areas of great importance. One can get more than ten times one’s investments in places like Navi Mumbai, Thane, Chembur, Wadala, Bhiwandi, Charkop and Kalyan. In particular Navi Mumbai, which was developed in 1972, has areas like Kharghar, Panvel, Palm Beach road, Panvel, Ulwe and Kalamboli upon which one may make astronomical profits. This is also due to the massive infrastructure in place in Mumbai, the city of dreams.

Pune, which soon is going to be named as Pumbai, due to its close proximity to the commercial powerhouse, has capitalized on the fact that it is indeed ‘the’ hub of IT/ITes international outsourcing services. Due to these facts strategically located realties in Kalyani Nagar, Aundh, Wakar, Baner, Wagoli, Charoli, Pimple Nilakh, Pimple Saudager, Rahatani and Viman Nagar are literal hot areas for tepid speculation and investments in realty. Punes elite boast of the purchasing power that few possess in India due to their involvement with the IT special economic zones. Due to the massive economic infrastructure and proximity to the international airport, Pune has established its name in so far much as an economic power can.

And so we come to Delhi, the capital of India, whereas it’s industrial alter ego Noida and Noida extension, by reason of it being in close proximity to the capital itself, and having the Dwaraka expressway at its helm make it one of the most appealing areas in India. The co-head of DTZ, India reports that Delhi NCR is the most appealing place because of yearly expansions of 15-20% a year and property prices shooting to more than 111% in some locations from INR 3200 to INR 6760 per sq. ft. Today the Noida extension has more than 80,000 residential units. Now that’s a realty hotspot.

The Dwaraka expressway has created over 12,649 residential units by connecting Gurgaon and Delhi NCR. In addition to this, cities like Gurgaon, Noida, Ghaziabad, Sonepat, Panipat and Karnal are interconnected making it an infrastructural powerhouse.

The first thing that comes to mind when one thinks about Bangalore is the massive information technology sector, and this is the home to virtually all the multinational IT giants, that matter in the world today. Amongst all commercial areas in Bangalore, Whitefield, in the east is the most prominent, due to its IT/ITes infrastructure and by sheer reason of it being a residential area of great potential.

The Export Promotion Industrial Park has changed the face of Whitefield by paving the way for global IT/BPO investments in this region. In addition to this, developers have added the icing to the cake by adding malls, shopping areas, five star hotels and residential areas.

The presence of employers here has created a new class of affluent and prosperous employees, and this has in turn created a vast demand for services of all sorts for them. Whitefield has a very good connectivity to the rest of Bangalore and this has created a very strong retail and FMCG demand market there. If you are looking for affordable Flats for Sale in Bangalore then visit Dreamz Infra Builders today.

Bangalore currently attracts more than 24% of investment in real estate.

Further down South we come to the metro of Chennai, where we can find major corridors like the great southern trunk (GST road), Old Mahabalipuram road (OMR) and the East coast road (ECR), these areas have been rapidly expanding for the last couple of years as these areas have been demarcated for massive development by both local and national developers. Like Bangalore and Pune, Chennai has got a massive infrastructure for IT/ITes/BPO companies and this has been progressing on the path of sophistication in the recent decade.

The areas of development namely Pallikarani, Medavakkam, Chrompet, Tambaram, Thoraipakkam and Sholinganallur are the key vicinities in Chennai. Development is also taking place on the roads that interconnect the key commercial areas in this metro.

Hiranandanis Upscale, Arun Excellos Estancia, Embassy Residency, DLF Garden City and Olympia Opaline are some examples of mega projects that are going on in Chennai.

These are well connected by the roadways like OMR,GSR and ESR to each other. Keelkattalai, Pallikarani, Medavakkam, Chitlapakkam and Selaiyur are other rapidly developing residential areas in this High tech horizontal coastal metro of India.

Chennai - Southern Suburbs:
The southern suburb of Chennai covers major corridors along with Great Southern Trunk (GST Road), OMR (Old Mahabalipuram Road) and ECR (East Coast Road) has been witnessing a fast growth over the recent years. The improvement of the IT/ITES sector has paved away for overall development of these confines as it witnessed the development of large scale residential townships from both national and local realtors. The key vicinities in these are namely Pallikarani, Medavakkam, Chrompet, Tambaram, Thoraipakkam and Sholinganallur. The suburbs witnesses demand from IT/ITes employees as it comprises of major Roads where most IT related developments are concentrated. Many major national and local developers are developing townships in the southern suburbs of Chennai. There are large tracts of land/property available for developments in this submarket like Hiranandanis Upscale, Arun Excellos Estancia, Embassy Residency, DLF Garden City, Olympia Opaline and many more.

The submarket is well connected by OMR, GST and ECR to the city. This improvement of connectivity to the city location and infrastructure projects are likely to drive the property investment values in Chennai. The locations like Keelkattalai, Pallikarani, Medavakkam, Chitlapakkam, Selaiyur and other neighboring locations are expected to see the rapid growth in the coming years.

Follow Bangalore Property Reviews Blog regularly to get latest updates and news about Real Estate Sector.

Development in Bangalore is led by the growth of Civil Infrastructure

One driving factor in the growth of the city is its developing infrastructure. The opening up of the areas in the peripheries is a result of the expanding infrastructure in Bangalore. Many IT companies got attracted to the seamless travel and the huge availability of large parcel of lands resulted into the growth of the city in every vertical. Thus, good connectivity is one such factor which led the foremost reason for the splurging growth.

The article focuses on some of the best upcoming projects related to infrastructure that will foster the growth of the city and get more areas of Bangalore into a strong consideration and attention.

The BBMP Association or the Bruhat Bangalore Mahanagara Palike has sketched out a plan to elevate the civic infrastructure in the Central Business District known as the CBD obeying to the Tender SURE strategies. According to the guidelines of this tender the good quality of the roads is already ensured, and also there is no need to dig them frequently with separate space allotted for utilities. With the Metro development soon to get over will ensure increased attentiveness in the finest residential localities around and also the Central Business District.

The major arterial roads around the city could be widened according to the BBMP plan of action, areas like Sarjapur Road, Kanakapura Road and Bannerghatta Road are to be targeted. These areas have turned up to be the prime micro markets in a very short span of time due to these planned and well-connected key areas emerging as major commercial and residential areas.

As the Phase 1 of Bangalore metro is expected to be at service by September 2015 these major areas will get an unbroken connectivity. It is highly recommended that investing into properties located near to the metro will fetch better returns in future as the value will eventually increase. With the advancement of the metro an added promise of better access to the shopping hubs will be rendered. Also the residential market will also get a boost in this area.

It is hoped that the PRR or the Peripheral Ring Road project is yet to take off soon which will simplify the congestion on the major roads as well as the Outer Ring Road. This entire situation will result in the evolving of new environs stretching towards the outer limit of the city which will on the other hand offer a well- networked travel in and out the city connecting all the major principal roads together.

For more Real Estate updates follow Bangalore Property Reviews Blog.

Expectations of Bangaloreans from the Budget

To own a dream house has remained a dream for many. It is one of such things that the consumers are looking forwards to. Several Bangalore locals are looking for a price drop down so that they can buy their own dream houses. The local crowd of the city has come together to raise a voce with interesting solutions about owning a house.

Owning a home is indeed a wonderful feeling and also the most desired one. For any working professional it is extremely important to have a house of his own. It is also a known fact about the working professionals and individual that very less people are able to pay the down payment and about 90% of the individuals depend upon the home loan with EMI’s, that is the only possible way to afford an apartment. It is also essentially advised that the finance minister should keep these thing sin while while planning the housing budget and the budget speech.

There is also a fear prevailing that the EMI’s may also raise in future post the announcement of the new budget. Giving an industry status will not only result in the shakedown but will also lead to a much practical price tag. Thus, nominating an industry status will help in bringing out more transparency in the progress in this segment. This will not only leverage the benefits of many systematic insurance, financing and other monetary incentives. This happening will substantially result in the market force overtaking and also the prices of apartments will stabilize a bit being lowered.

Bangaloreans are also looking forward for a much ensured transparency. This could only happen as soon as the Real Estate Regulatory Bill gets the approval and followed by the hopes of the buyers being benefited.

According to a senior VP in the IT sector there are still some grey areas the need to be addressed. Many of the individuals have still been cheated and mislead about the fake advertisements and sales on the bases of super build up area. It is strictly advised that the Union Government should pass regulations that are precise to the construction in the residential segment only. A formation of a dispute redress will also help a lot in such situations bringing more accountability.

All the above provided solutions have seen to be practical enough and so they have made the realtors agree to these expectations. With the raising urbanization in the metros, the realty developers have seen a major opening for the development and planning of the mixes use of gated communities, township and apartments.

It is all dependent on the Center and the State Government to bring in a strong law and order and an intention to enforce a single window clearance for the real estate projects to be developed because it is true that the actual waiting cost is always swallowed by the consumers.

Jan-Mar 2014 Bangalore Residential Property Prices for Sale

Bangalore is the one of the top metro city and IT hub of India. The population of Bangalore / Bengaluru was 4 Million people in 2001. But currently the population reached to 10 million. Bangalore is also ranked at number 3 spot in India in terms of most populous city. Below are the Jan-Mar 2014 Bangalore Residential Property for Sale Prices.

#	Location	Price Range (Rupees./Square feet)	Average Price (Rupees./Square feet)
1	AECS Layout	-	-
2	Akshaya Nagar	3,356-4,448	3,902
3	Amrutahalli	4,404-4,883	4,644
4	Anekal	2,511-2,849	2,680
5	Arakere	4,075-4,615	4,345
6	Attibele	2,304-2,426	2,365
7	BTM Layout	4,734-5,897	5,316
8	BTM Layout Stage 1	-	-
9	Babu Sahibpalya- Hennuru	3,880-4,269	4,075
10	Banashankari	6,880-7,438	7,159
11	Banashankari Stage 2	6,556-7,875	7,216
12	Banashankari Stage 3	5,747-6,517	6,132
13	Banasvadi	4,397-5,199	4,798
14	Bannerghatta Road	4,307-4,483	4,395
15	Basavanagudi	-	-
16	Begur Road	2,612-5,429	4,021
17	Bellandur	4,603-4,854	4,729
18	Benson Town	8,009-9,438	8,724
19	Bomasandra	2,912-3,806	3,359
20	Bommanahalli	3,881-4,296	4,089
21	Borewell Rd	3,443-3,770	3,607
22	Brooke Field	5,013-5,400	5,206
23	CV Raman Nagar	4,419-4,919	4,669
24	Cambridge Layout	-	-
25	Channasandra	3,035-3,410	3,223
26	Cookes Town	7,517-9,291	8,404
27	Cox Town	6,187-7,679	6,933
28	Devanahalli	3,725-4,563	4,144
29	Doddaballapur Road	3,779-4,104	3,941
30	Doddanakkundi	4,347-4,834	4,591
31	Domlur	6,984-8,866	7,925
32	Electronic City	3,284-4,090	3,687
33	Frazer Town	7,440-9,214	8,327
34	G M Palya	-	-
35	Gottigere	3,226-3,695	3,461
36	HBR Layout	4,105-4,436	4,271
37	HRBR Layout	5,104-6,017	5,560
38	HSR Layout	4,729-5,353	5,041
39	Hal 1-3 Stage	3,689-4,591	4,140
40	Harlur	5,087-5,569	5,328
41	Harlur Rd	5,395-5,694	5,544
42	Hebbal	5,628-6,163	5,896
43	Hebbal Kempapura	-	-
44	Hennur	3,644-3,863	3,753
45	Hennur Main Road	4,192-4,456	4,324
46	Hennur Road	4,479-4,772	4,625
47	Hesara Ghatta	3,749-4,274	4,011
48	Hoodi	3,738-4,126	3,932
49	Hormavu	3,611-3,948	3,780
50	Hosa Road	3,435-3,752	3,593
51	Hosur Road	4,008-4,356	4,182
52	Hulimavu	-	-
53	ITPL	3,859-4,182	4,020
54	Infantry Road	-	-
55	J.P. Nagar Phase 9	3,188-3,539	3,364
56	JP Nagar	4,378-4,639	4,509
57	JP Nagar Phase 1	-	-
58	JP Nagar Phase 5	5,052-5,835	5,444
59	JP Nagar Phase 6	5,182-5,658	5,420
60	JP Nagar Phase 7	4,896-5,414	5,155
61	JP Nagar Phase 8	3,719-3,899	3,809
62	Jakkur	4,881-5,393	5,137
63	Jalahalli	3,680-3,986	3,833
64	Jalahalli Cross	3,167-3,797	3,482
65	Jaya Nagar Block 1	-	-
66	Jayanagar	8,299-10,600	9,450
67	K R Puram	3,423-3,578	3,501
68	Kadugodi	3,419-3,652	3,535
69	Kaggadaspura	3,751-3,967	3,859
70	Kalyan Nagar	3,623-4,303	3,963
71	Kammanahalli	-	-
72	Kanakapura Road	3,739-3,856	3,797
73	Kasavanahalli	4,377-5,099	4,738
74	Kasturi Nagar	4,624-5,087	4,855
75	Kengeri	3,187-3,564	3,376
76	Kengeri Main Rd	3,035-3,337	3,186
77	Kodi Halli	-	-
78	Konenakunte	3,017-3,225	3,121
79	Koramangala	7,263-7,820	7,541
80	Koramangala 2nd Block	-	-
81	Krishnarajapura	3,591-3,947	3,769
82	Kudlu	3,943-4,394	4,169
83	Kudlu Gate	3,452-3,776	3,614
84	Kumaraswamy Layout	4,407-4,914	4,660
85	Kundalahalli	3,775-4,102	3,939
86	Lavelle Road	15,491-20,105	17,798
87	MG Road Area	11,741-14,117	12,929
88	MS Pallya	3,439-3,592	3,516
89	Magadi Road	4,996-6,259	5,628
90	Mahadevpura	4,830-5,205	5,017
91	Malleswaram	11,605-12,663	12,134
92	Marathahalli	4,322-4,683	4,502
93	Marathahalli-Sarjapur Outer Ring Rd	5,235-6,109	5,672
94	Mathikere	4,429-4,862	4,646
95	Murugesh Palya	-	-
96	Mysore Road	3,806-4,075	3,941
97	Nagarbhavi	3,218-3,774	3,496
98	Nagawara	0-20,180	9,740
99	New Tippasandra	-	-
100	OMBR Layout	4,601-5,083	4,842
101	Off Tumkur Road	3,069-3,474	3,271
102	Old Airport Rd	5,339-6,144	5,741
103	Old Madras Road	4,417-4,677	4,547
104	Outer Ring Rd	5,165-5,492	5,328
105	Padmanaba Nagar	4,569-5,569	5,069
106	Panathur	4,291-4,623	4,457
107	Peenya Industrial Area	2,845-2,879	2,862
108	RMV Extension Stage 2	5,184-6,668	5,926
109	RMV Stage 2	7,118-8,506	7,812
110	RT Nagar	4,146-4,578	4,362
111	Rajarajeshwari Nagar	2,326-7,989	5,157
112	Richmond Road	-	-
113	Richmond Town	-	-
114	Sahakar Nagar	4,723-5,921	5,322
115	Sanjay Nagar	6,710-7,446	7,078
116	Sarjapur	-	-
117	Sarjapur Road	4,271-4,449	4,360
118	Sarjapur-Attibele Road	2,662-2,919	2,791
119	Silk Board	3,517-3,699	3,608
120	Singasandra	3,474-3,695	3,584

Source: MagicBricks

Visit Below blogs for more updates about Bangalore Real estate news.

abusedreamz.blogspot.com

adreamz-infra-reviews.blogspot.com dreamzgkblog.wordpress.com

Bangalore’s Prime Locations catering to Residential Properties and Lands

This article edifies the fact about those hot locations which are most preferred when it comes to residential property, land and housing needs. The article gives details about few locations in Bangalore which have been rendering the best connectivity to the workplace and also has offered the quality of life in terms of socialization and entertainment. Further the article also talks about the land and its appreciated price in various locations within the city.

The investments in the real estate sector were going on a mere slow down but with improving economic condition and the emotional strength has controlled the sentiment of the investors. The investments in land and property both will see an increase in the time to come and this revival could happen in the coming quarter of 2014.

Residential Homes (Apartments / Flats) in Bangalore

There are numerous locations in Bangalore which are upcoming and emerging as centers for growth and are also the promising hubs providing better living in terms of residential housing. The hunt for a housing apartment is indeed a most challenging task for any individual and with the uprising prices it has become all the more difficult to crack an affordable deal. A dream house such that is affordable which burns a lesser hole into the pocket and also is well connected to the workplace and other useful amenities and facilities on a daily basis.

The massive expansion is visible in the areas like Electronic City, Hebbal, Marathahalli and Whitefield etc. Each of these emerging centers is discussed below: 

Hebbal, Bangalore

Hebbal once known for its serene beauty but now with the advancement and the development of infrastructure a lot of IT pathways and pharmaceutical set ups have made this region of Bangalore attract a lot of prospective and potential buyers when it comes to buy residential apartments. The area was better known for the serpentine maze of flyovers that networks the Outer Ring Road and Bellary Road. Various business have made this area a better location for trading as the culture of the city is work and live, it also has better road connectivity to some of the major business routes.

The residential property rates of a multistory apartment are around Rupees 5,896 per sq. ft. Hebbal host a lot of IT companies like Astra Zeneca, Integra Micro Software etc. This has changed the semi-urban neighborhoods in the vicinity of Hebbal and Kempapura into an expansive modern housing and apartment hub. Therefore it’s one of the reasons it has attracted a lot of real estate developers with various luxury residential projects catering to many big investors and potential Buyers.

Hebbal has the two major IT hallways one being the Manyata Embassy Park and the other is the Kirloskar Park which has employed a lot of IT professionals making it one of the reasons to be densely populated. Many other projects are in a pipeline under the residential housing segment.

Whitefield, Bangalore

While choosing a residential location it is really necessary that one should look for a location which is near to the workplace this will also save time and add on to the work efficiency. The Whitefield location of Bangalore was a Euro-Asian settlement. Whitefield has the major IT Hub in the name of ITPL which is a shelter for the world’s major IT and ITES Companies. The area remained quite dormant during the 2000s. The residential property rates of a multi-story apartment in Whitefield range around Rupees 4,861 per sq. ft.

Whereas the residential property price in ITPL is Rupees 4,020 per sq. ft. The location is known for its lush greenery and well aligned trees. It has been an opportunity for various developers to come up with projects offering big spacious and world class residential apartments with 2BHK and 3BHK spacious setting. Various developers have come up with communities promising better lifestyle with Swimming pools, Club house, Children’s play area etc.

Marathahalli, Bangalore

Marathahalli has been the lonely village during the 1990s until the IT boom; it has been emerged as a self-sufficient area. Marathahalli is closely connected to area like Hal Airport Road, Whitefield, Sarjapur Road and Electronic City. As IT expansion is at a peak these areas are a house of various IT offices like Eco space at the Outer Ring Road, Accenture, Intel and Wipro at Sarjapur Road. Marathahalli has all the basic facilities in terms of cloth stores, shopping malls, super markets and other shops of basic necessity.

The residential property rates of a multistory apartments is around Rupees 4,502 per sq. ft. in Marathahalli whereas the residential property prices are a little high on the Outer Ring Road costing nearly Rupees 5,672 per sq. ft. Various developers have come up with residential projects both under the category of low-cost housing and luxury housing offering 2BHK and 3BHK spacious setups. Catering to the young crowd and professionals of the IT industry these communities provide an array of amenities like Club house, Swimming pool, Recreation area for children, Parks and Playgrounds ensuring better living standard.

Electronic City, Bangalore

Electronic city has also been the hub for the emerging IT strength as it caters to the numerous big IT names of Wipro and Infosys. It is the house of major IT and ITES players like BOSCH, Toyota, Honda, BMW, Volkswagen BHEL, Tech Mahindra etc. Due to these major players residing there the residential strength is likely to increase in the time to come. Several developers have come up with various affordable residential communities rendering to the basic needs of people with the combination of 2 BHK and 3 BHK apartments.

The upcoming gated community in this area will render various amenities like club house, swimming pool and play grounds etc. The average residential property rate of a multistory apartment is around Rupees 5,672 per sq. ft. Electronic city is still emerging and in the coming time it will see more development in terms of shopping spaces, entertainment hubs and other social as well as hot spots.

LANDS (Plots / Sites) in BANGALORE

The IT Hub of the country has a potential supply of land when it comes to IT infrastructure, commercial and retail set-ups. The land prices have been stagnate in the past but with the improving economic conditions the real estate developers have also made hopes that the land price may increase during the other half of the year. When it comes to invest in the land various areas are thought about.

The latter part of the article talks about the locations like Devannahalli, Mysore Road and Electronic City inclusive of Anekal and Chandrapura.

Devanahalli Lands (Plots / Sites)

Devanahalli is an excellent upcoming city in the near future. With the expansion of KIDB industrial area which has big players like Aero Space, Software Park and Hardware Park along with many Financial Units in the pipeline. As the Bangalore International Airport is set up in Devanahalli the area is developing at a rapid speed. These developments on the other hand have increased the demand for industrial land. Various developers have come up with an idea of creating this place as new Bangalore in the Northern region as this area enjoys the nearness to the international airport and also the Hyderabad Highway. The land prices in this area range close to Rupees 550 per sq. ft. to Rupees 600 per sq. ft.

Mysore Road Lands (Plots / Sites)

Mysore Road is a state highway which connects the city of Mysore and Bangalore. The highway stretches around 149 Km. The highway possess a better connectivity through the towns of Ramanagara, Channapatna, Maddur, Mandya and Srirangapatna etc. The road passes over Kaveri River and is a dual carriageway. The Mysore Road satellite Bus Station also renders better connectivity to the areas like K.R Puram, Majestic, and Airport etc. The land price in this area ranges around Rupees 699 per sq. ft. to Rupees 720 per sq. ft. 

Electronic City Lands (Plots / Sites)

It is the largest technology hub of Bangalore located at the outskirts. It is the house of about 300 companies and also has a large workforce and employee capacity. The location is flourishing as people are ready to invest in new ventures. The newly constructed and elevated expressway has played a great role in managing the traffic and attempts to lessen the congestion. An amalgamation of all these factors has made electronic city one of the most preferred locations in Bangalore. The approximate value of land here in this area ranges to about Rupees 500 per sq. ft. to Rupees 700 per sq. ft. The land prices in the nearby area namely Anekal and Chandrapura vary around Rupees 500 per sq. ft. to Rupees 600 per sq. ft.

Follow Regularly 'Bangalore Properties Reviews' for more real estate updates.

A study and vision of Bangalore housing sector in 2014

The rapid growth of Bangalore City in few decades in terms of infrastructure, educational institutes, social infrastructure, and the real estate sector is driven by the flourishing IT industry.

The city is now home to a large number of High Net-worth Individuals (HNIs) and is the third-largest real estate hub for HNIs who park their assets here and one of the topmost cities where NRIs want to settle down in the future.

Due to its multicultural ethos, the city attracts more populace and today the city houses around 10,000 individual dollar millionaires and also home to many NRIs who are professionals and settled down in the city, which drive the demand in the real estate sector especially the housing segment.

Particularly, in sub-markets like Whitefield, North Bangalore, Outer Ring Road, Central Business District (CBD), and Secondary Business District (SBD), the demand for high-end residential apartments in the city has increased.

Right now, the most optimistic and preferable residential micro-markets in the city are the North Bangalore, Whitefield, Sarjapur Road, and Outer Ring Road (ORR).

With many ups and downs in the sector, a study and outlook of different residential categories is given below:

High-end residential category
Property price - Rs.1.5 Crore and above
Residential Type - New villa, villaments, and row houses
Locations - Whitefield, North Bangalore, Sarjapura, and Outer Ring Road (ORR)
Study & Vision - Demand is likely to remain stable in the coming year

Mid-segment residential category
Property price - Rs.75 Lakh to Rs.1.5 Crore
Residential Type - Above 2 and 3 BHK luxurious apartments
Locations - Electronic City, ORR IT Corridor, Whitefield, and some areas in North Bangalore
Study & Vision – Demand driven by IT/ITeS professionals who look for home close to their office and focus on social infrastructures, educational institution, hospitals and many other facilities
 
Affordable residential category
Property price – Rs.50 lakh or below
Residential type – 1, 2, 3, BHK apartments
Locations – Outskirts of the city, Peripheral Ring Road (PRR), South Bangalore, North Bangalore, West Bangalore
Study & vision – The proposes infrastructure projects like Metro Rail drives the demand

Synopsis of reality market
In the fourth quarter of 2013 there was an increase in the absorption of residential sector against the third quarter of the same period. About 30 residential projects were launched in the fourth quarter of 2013 and a slight appreciation in capital value and the sales volume increased as the most of the projects were in completion stage.

Opinion about Bangalore Reality Market
It is likely that in the first half of the 2014 the growth of residential market will remain stable and a modest number of launches in residential projects will be witnessed, while leasing and capital values will remain stable and is expected to rise in second half of 2014.

Factors that drive the leasing and capital value of Bangalore residential segment:
•    Development in IT sector
•    Investment by more HNIs and NRIs in residential segment of the city
•    Proposed infrastructure projects by government like Elevated expressway, Metro Rail, and Peripheral Ring Road (PRR), many others
•    Projected SEZ and IT Parks in North Bangalore such as Devanahalli Business Park, ITIR in Devanahalli, Aerospace SEZ, Airport City and others

Land Loser has the right to make decision in Land Acquisition and Compensation

The new land acquisition law that has been enforced has comforted the landlords who have sold their land for public sector infrastructure projects in Bangalore City.

For example, if an agency requires a land of 2,000 Square Feet. in a location for any proposed public sector infrastructure project then the approaching agency should pay an average compensation cost existing in the area for an instance if land is required in MG Road, then the agency should Rs.27, 000 per Square Feet. as an average compensation keeping in mind the current market value and if it ranges between Rs.25, 000 and Rs.30, 000 per Square Feet.

Based on the new law, the land or property owner should get a compensation of Rs.54, 000 per Square Feet., as it says the land owner should get double the price of the market value. The new law also gives right to the land owner to argue with the approaching agency about the compensation cost if the land owner feels the deal is not fair. And, this dispute can be held at a proper platform solely formed by the government by providing documented substantiation.

The new law is regarded as favorable for farmers as the compensation cost for land owners is four times the market value and will also make sure that the land loser is provided with rehabilitation and resettlement. The provision in the new law also says that the land cannot be acquired without the approval of the land owners.

The idea of Transfer of Development Rights (TDR) under which the land owners can be given land as compensation instead of cost for the loss of land area that is acquired by the government for public purpose like for constructing flyovers, roadways and other infrastructure.

The new law in the foreseeable future may surely cause less conflict to a whole range of infrastructure projects in the row that includes road broadening, construction of flyovers and passageways, and elevated expressways.

Stipulation in the Law

• The new Land Acquisition Act says that in case the acquisition of land is less than 50 acres of area in cities and 100 acres in rural areas then the law will be discretionary.
• The TDR should be more attractive an approachable in such a way that land owners to choose TDR instead of compensation cost.

Adverse for Farm Sector

• Farm land will be gobbled through this new law.
• The compensation cost will attract the farmers to give away their lands.

Many farmers say that they don’t have any complaint to acquisition of land for Metro, rail, roads, and other necessary public sector projects by government. The government should also understand that no compensation can recover the food calamity in the anticipatable future.

Compensation for Land Loser

• Urban Areas - Compensation cost will be twice the market value of the property in addition to this 100 per cent solace on this amount.
• Rural Areas - Compensation cost will be four times the market value of the property
• Market Value - Value of the property registered at the sub-registrar offices, but it is still unclear in the market value whether the exiting market value or the regular market value will be considered.
• Discussions can he be held by the land owners if the deal is not fair and the discussion can be held in a forum formed by the government 

About The New Law

• The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act 2013 has substituted the 120-year-old Land Acquisition Act of 1894
• The President approved the new Land Acquisition Bill on September 27, 2013
• The Bill was introduced as  the out-of-date 1894 Act underwent several inadequacies, such as the resettlement of the land loser
• Fair compensation and compulsory rehabilitation and resettlement (R&R) for the land loser
• A study should be conducted on the land acquiring agencies about their plan to use the land and how the land owners are rehabilitated and resettled.

To get regular updates about Real Estate Sector follow our Blog Bangalore Property Reviews