Eastern Areas of Bangalore Excite Potential Buyers to Reside In

There has been an influx of residential units being sold in the eastern part of Bangalore city; areas like Sarjapur, Electronic city, and Whitefield are the most sought after places, not just for working professionals but also modern day Bangalorean’s are looking to reside there. This sudden surge is purely down to notable IT hubs located near these areas which have seen many young adults opting to live at a place which is close by to their work space to avoid the long queues of traffic and pollution.

Compared to most areas in the city, the entry price of this area is subsequently less. With units starting from as low as 20 lakh up to 2.5 crores depending on the type of amenities and facilities offered. But most of these residential units are in the price range of 20-60 lakhs. The capital market might be enduring a hard spell, but the rental market has seen a boom with 2BHK’s being the most popular accommodation choice. Again the rent varies from a two-bedroom house depending on the amenities and facilities offered. Rent start from 10,500 all the way up to 22,000.

Real-estate developers have seen the potential that eastern part of the city possesses and are setting their sights in constructing new ventures to accommodate to growing working population. And it is also a positive for the seller as with growing demand we could see a hike in prices in the near future and it would be great for the investor.

SARJAPUR:

In this area, most of the real-estate activity is seen from HSR layout to Sarjapur road as you can commute easily to IT hubs. With frequent plying of public transport services, it makes it easily accessible for working professionals to commute to work. The only drawback is, the roads are horrible during monsoon and during peak traffic time it can be a cause for concern.

WHITEFIELD:

It is the IT hub of Bangalore. BMTC is the only public transport facility. The proposed metro line will soon soothe the traffic congestion at this locality. The KR Puram railway station also acts as a mode of transit. There is a lot of infrastructural progress to take place to ensure smooth connectivity in Whitefield and it will reap benefits in the future.

NORTH BENGALURU:

This zone of the city is located close to Kempegowda International Airport with the proposed phase 3 of metro set to get underway. It is also connected to the Outer Ring Road. The infrastructure in this part of Bangalore is good with good drainage system and water pipelines. The drawback would be that social infrastructure is yet to be developed and most of the residents are dependent on water supply from tankers as it is very cute.

BANNERGHATTA ROAD:

The south of Bangalore preferred currently as it is close to central Bangalore. It has a terrific social infrastructure and even few IT companies are situated there. You can easily access Sarjapur road, Hosur road, and Electronic City. The NICE road connects Bannerghatta road to Mysore road, Kanakapura road, and Hosur Road. Currently, there has been no proposed work for a Metro line.

ELECTRONIC CITY:

It has seen a growth in the residential sector solely due to numerous IT parks located there. It is connected to the rest of Bangalore through the four-lane express toll-way. Social infrastructure is yet to catch up as most of the localities are under the sphere of gram panchayat’s which are not well equipped to handle the issues of large communities popping up in the corridor.

Which type of property will you prefer to buy?

Buying a house of your dreams is a life-changing decision in any Indian household. It is something that is present in the bucket list of many Indians. But when you make a big investment like this, there is a lot of research that needs to go into it. You have to ascertain the pros and cons when buying your dream house. You have to perform extensive research and evaluate multiple options before jumping into a big decision like this. What type of house you would like to live and so on.

Here are a few pros and cons as to what type of property you are considering to buy before buying a life-changing investment:

1.       Older property: If you consider buying an old property which is already in use there are a few advantages and disadvantages to consider.

Advantages:

·         Old style construction of the property

·         Living near long-term neighbors

·         Spacious yards

·         Security in the neighborhood

Disadvantages:

·         Ongoing maintenance

·         More money to be spent on repairs

·         Smaller closets

·         Often more expensive than newer homes

2.       Under-construction property and Ready to move in project: Many prospective buyers get confused as to whether invest in the under-construction project or a ready to move in the project. Here are a few pros and cons to it.

              Pros of buying an under construction project:

·         Low prices

·         Scope of appreciation

·         Customize your payment

·         Various options

              Cons of buying an under-construction project:

·         Delay in Possession

·         Quality may be compromised

·         No income tax benefits till possession

·         Final product may differ

3.       Pre-launch project and Pre-construction project: A pre-launch project is when the property builder announces about the proposed project and they have the necessary approvals, it is to create a marketing buzz by offering many freebies and discounts. Pre-construction project is when the builder makes an announcement about the project but has not received the necessary approvals. Here are a few pros and cons of purchasing a pre-launch project and pre-construction project.

Ø  Pros:

·         Early bird discounts and freebies to influence the customer’s minds

Ø  Cons:

·         Conscious delays by the buyer

·         May not have obtained the necessary approvals from legal authorities.

·         The project could get canceled if the property is not able to come up with the necessary funds.

So before making the big leap, evaluate your options and see what fits for you based on your financial situation, loan re-payment capacity and then decide to purchase what type of dream house you wish to reside in.

Evaluate Your Options When Planning To Purchase Your Dream House

With Dasara and Diwali right around the corner, potential buyers need to evaluate their options and undertake an informed decision when purchasing the house of their dreams during this festive season. During this festive period, buyers will have to pick the offer which they find attractive from many options. It’s not just property developers and builders who propose tempting offers, the banks to provide attractive deals on home loans. It is important for a potential customer to prioritize his options on exciting offers on the apartment and home loans and select the best deal which suits him/her.

Here are a few guidelines for potential home buyers to consider when they are making a purchase on a flat or a house during the festive period.

1. Identify your perfect house from evaluating multiple options: A buyer must be able to pick a house which he/she feels is perfect for him/her. He/she has to consider various factors such as the location of the house, the amenities that the flat provides when the flat will be ready to move in and most importantly the price. Once you, the potential buyer have made an informed decision ensure you meet the builders as soon as possible to finalize the deal, also make sure you are well informed on all the offers that arise during Diwali and Dasara.

2. Ensure your finances are in place: Make sure your finances and necessary paperwork are in order. You will have to make a down payment once the deal is closed. If you are considering approaching a bank for down payment make sure you are well updated on the EMI’s. A large down payment would mean a lower EMI.

3. Plan well ahead for the cost of interiors: You need to ensure you have a plan in mind on how the interior in your apartment should look like. Plan well in advance on how you dream house should look like. If you plan to purchase furniture early it will not only make your home purchase process smoother but also it will make repayment of your home loan much more convenient.

Dreamz SIDDHI is the hot & latest project in Electronics city Bangalore

Dreamzinfra is one of the arch-champion in real estate central to Bangalore. Primary expertise of this company vests in developing in the residential flats construction projects. In a short period, Dreamzinfra has scored major count of about forty plus projects followed since its humble beginnings. Today Dreamzinfra is regarded highly with well-known customary services and established industry benchmark in the delivery of luxury apartments in most popular areas of Bangalore. Earmarked the best and affordable developer, Dreamzinfra has many upcoming projects and Dreamz SIDDHI is one of such project which is reaching its completion.

Architecture
Based on modern methods Dreamz SIDDHI is located in Electronic City, Phase-1 and it is a fully updated modern construction project from the group.

Location
One of the prime locations in Bangalore, Electronic City is in the vicinity of the expressway with 4 lanes which give good access to primary landmarks such as Forum Mall and Silkboard Junction. Further; DreamZ SIDDHI is near to best roads such as Veersandra main road which connects to Nice Road junction making it a well-connected area. Dreamz SIDDHI is within the periphery of Infosys and Wipro due to these roads and can be reached in 31 minutes of commute.

Features
Apart from being located in electronic city, this project has primary features such as seismic zone II compliant RCC construction, Elegant Lobbies in granite, lime rendering plaster, Vitrified tiles flooring in living and dining rooms, designer ceramic tiles for bedrooms and kitchen and antiskid tiles in toilets. Paint work is Acrylic Emulsion with roller in the interiors and emulsion paint on the outside. Toilet accessories are; ceramic glazed tiles up to 7, mixer unit showers & wash basin and has provision for geyser & exhaust systems. Doors and windows are made in Sal wood frame and flush shutters for other doors, power coated windows comes with safety grills. Electrical are of fire retarded concealed copper wires with modular switches. Facilities such as a backup generator (1KVA DG Automatic) and automatic passer lift are present. Security features are Video Door Phone System and CCTV cameras to monitor and ensure safety.

Amenities
Like all Dreamzinfra project, Dreamz SIDDHI is planed with care so to take its inhabitants into the best place they can be. To fulfill this objective Dreamz SIDDHI has all necessary amenities such as a Community Hall, Well Equipped Gym, Club House, Children’s Play Area, Multi-purpose hall in its vicinity.

Affordable homes in Bengaluru and where can you find them?

Bengaluru is the IT capital of India. People here are well paid. There is enough job generation in the city which makes the real estate properties move faster. People from all parts of India and abroad as well migrate here for jobs, education and settlement. This in turn is translated to the demand for housing in the city. But again the picture is not that bright as has been projected or thought of. There are various income categories in Bengaluru’s workforce. Some may be earning a six figure salary while most of the people earn a meagre salary which is spent in making two ends meet.

Let’s sneak into the real picture. Statistics says that there are about 55, 000 jobs which are currently available in Bengaluru. But if one looks at the salary ranges of these jobs then one will find out that a maximum number of these jobs are offered in the range of Rs. 4 lakhs and within. This indicates that the monthly income of the job holder is within Rs. 33, 000 which means they can afford houses and flats within Rs. 35 lakhs.

With this picture of affordability of the city we can understand the purchasing power of the most of the population of the city. But where can we find homes for them is a pertinent question. The market watchers opine that real estate properties in places like Kanakapura Road, Mysore Road, Bannerghatta Road and few areas near NICE Road corridor offer prices within the income range of low and middle income group.

Various indexes indicate that affordable ranges mean the properties within the price range of Rs. 40 lakhs. The supply exceeds the demand of the properties and the indexes point out that the availability or supply of such properties is at 35 percent whereas the demand staggers at 22 percent. The market conditions denote that one can get a 2 or 3 BHK in that budget.

The trend watchers however remark that the North and South of Bengaluru is where the land bank lies. Thus the most of the real estate development and apartment complexes are built here.

There are areas where homes can be bought at even cheaper prices too. Those areas are Devanahalli, Mysore Road, Bagaluru, ITPL and Hoskote where maximum houses are priced in the price range of within Rs. 20 lakhs. On a contrast note, in the areas like Kanakapura Road, K R Puram, Hongasandra and Hosa Road one can find properties in the range of Rs. 20 lakhs to Rs. 40 lakhs. The realtors feel that the infrastructure of these areas has not yet been developed to the full due to which they are priced in the lower ranges.

In areas like Kanakapura Road, Mysore Road, ITPL and KR Puram there has been considerable amount of sprawling commercial activities with large absorption of IT and office spaces nearby which has accentuated the demand of residential spaces. There has been simultaneous development of social infrastructure like schools, colleges, malls, supermarkets and hospitals too.

Devanahalli is a place which is earmarked by the location of the International Airport and the recent launch of the Information Technology Investment Region (ITIR) has made the place a sought after one by the developers. The market watchers opine that although the developers are flocking to the area anticipating the prospects of the place the area is yet to develop in terms of the social infrastructure. That is one of the drawbacks of the place compared to the other high priced areas. But this is to note that with the offices and IT companies starting to operate the place will have a new look altogether which will gradually surge the prices up. So the shrewd speculator forecasts that this is probably the best time to invest in such places.

Dreamz Infra is one of the builders who can provide affordable flats in Bengaluru. They have apartments in JP Nagar, Silk Board, Electronic City, Sarjapura Road, HSR Layout, Marathahalli, Whitefield, Hosa Road, Hebbal, Horamavu, Kanakapura Road, Vidyaranyapura etc.

Share your views. Post your comments below about this article.

Whitefield, the investment hotspot of Bengaluru

Whitefield is a locality that had gained prominence long back with the presence of many multinationals and IT parks. ITPL is one of the large IT parks present in the area. Whitefield is perhaps one of the places with the highest concentration of IT, ITeS and multinationals perennially creating the demand for jobs. People from all parts of India come for treatment in Sai Baba hospital in Whitefield and the area has grown in respect of social infrastructure with simultaneous increase in the residential population in the last one and a half decade. There are a few educational institutions too that are being targeted by students all over India and even abroad. All these factors are responsible for the surge in demand of real estate properties and even rent in the area. A stroll in the area in one of the week days will make one feel that the area is in demand and one would gain on investing in Whitefield real estate.

Apart from the above reasons there are a considerable number of people who are being transferred in the offices of the adjoining areas from different parts of India and the world too. The corporates have also started investing in apartments, row houses and villas for their officials. The immigrants from other parts of India also value the place as a good investment option as many are having a good income and find it pointless in paying rent and instead pay the EMIs for their own apartments. Thus developers of all segments be it for Low Income Group (LIG), Middle Income Group (MIG), or the High Income Group (HIG) are seen to develop different buildings and apartments for different group of customers segments.

The data from various sources suggest that Whitefield in East Bengaluru offers maximum number of residential units for sale and has been ranked in the top ten localities of Bengaluru in the preference list.

Let’s explore the options available in the area.

If you browse the aggregator sites you will find many renowned developers offering apartments in Whitefield with options from one to four BHK apartments with scheduled possession by the year 2015 or at the latest by 2017.

Another striking feature that one would note is that the area offers ready-to-move-in apartments too and in considerable quantity which are priced in the range of Rs. 35 to Rs. 55 lakhs. The area is well distributed will all kinds of amenities and facilities and many IT multinationals like HCL, IBM, Tesco, TCS, GE , Societe Generale, Accenture and Sap labs are present in the area. The residents opine that there are plenty of choices in terms of recreation hangouts or even the social infrastructure is quite adequate with many malls, supermarkets, banks, schools, colleges and theatres.

Communication Facility

As far as connectivity with Bengaluru is concerned, Whitefield is accessible through two of the major four lane roads namely HAL, Old Airport Road via Marathahalli and secondly through Mahadevpura. Both these routes intersect with State Highways of Karnataka (SH 35) and further is connected to Anekal in the South and Siddlaghatta in the North. The International Airport is about 45 to 50 km away from Whitefield and is connected through the State Highways, SH 104 and SH 207.  Apart from this the Whitefield railway station is another advantage of the area which gives easy access to the city.

So with all these facilities and the higher echelons of the customer segment of Bengaluru real estate market increasingly demanding the area, lot of luxury apartments are being constructed. The logic of the customers of the uber-luxury apartments are that after a tiring day of 10 to 12 hours of work one would ask for a place where there is social life which is not far away. Another strong point is that this class always wants to remain aloof from the crowd but at the same time connectivity is one of the demanding criteria. In all these respects the area is highly suitable which makes the place both resident and investment friendly. Apart from the uber-luxury apartment seekers the office space absorption and the immigration of retail and commercial spaces are also on the rise. With this given situation the intelligent investors certainly consider Whitefield as a hot spot.

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Budget 2015 invokes mixed reactions from realtors

After the presentation of the budget 2015 by the finance minister there are mixed reactions from the real estate circle. The real estate sector had high expectations of measures that would pump in some liquidity into the industry. But many critics opined that the budget is fairly positive with many development measures but as far as the real estate industry was concerned the residential sector was not given much of an importance that constitutes the major chunk of the revenue for the industry. The budget according to realtors completely ignored the residential sector of real estate and there is a full lack of any kind of push for the housing sector as the realtors expected a heavy cut on the rates of the interest rates among other factors which would have boosted the home loan procurement rate among the end users pumping in some liquidity to the industry.

The budget however announced the government’s intention of building six crore houses or residential units towards the scheme of “Housing for all by 2022” but failed to detail on it. Neither did the budget detail on the Sardar Vallabhbhai Patel Urban Housing Mission in terms of allocating the funds. The timelines, project locations, the instruments for funding and other factors were also missing.

Few critics however appreciated the measures to reduce black money for which the step was taken by introducing the “Benami Transaction Bill”. The budget proposed to incentivize the use of wired money rather than hard cash transactions which few feel would significantly impact real estate. The budget also states that punitive measures would be taken against concealment of assets including Benami properties.

In talking about the liquidity few others argued that although this would impact on the real estate market on the whole but it might have a negative impact on the investor segment of the country. They go ahead to say that notwithstanding the positive intent of the government the Benami Bill can drive away the investors and exit the market.

Another criticism that came from the realtors was that the budget does not mention about the plans and programmes of constructing 100 smart cities. The budget document according to many lacks to boost the key factors and the sector of the real estate industry. On the first place it does not talk about the promulgation of the REITs and the InvITs. But Mr. Jaitly proposed to rationalize the regime of  capital gains for the sponsors exiting at the time of listing of units of REIT and InvITs and also announced the creation of six crore homes to meet the centre’s mission of “Housing for all by 2022”.

Others opine that although many macro factors were being looked into in the budget for a prosperous economic regime but the real estate sector was highly expecting for some compensatory measures for the lull in the last there years and as the sector was virtually gasping for more liquidity. The realtors were unhappy as the budget has nothing in it to cheer up.

Moreover given the burden of prevailing indirect taxes, stamp duty clearances, the high cost of borrowing for both the developer and the buyer, the real estate sector was hoping for some serious incentives among other measures to give a boost to the sector which the budget was devoid of. But many veterans feel that the government will make some announcements in this regard in the due course of the year.

The measure for the REIT regime is welcomed by many as the indications that tax pass through on REITs will be implemented and the experts feel that this has the potential to stimulate the REIT market in India which can release lower cost capital, increase the flow of liquidity and stimulate the next phase of enhancement of the urban infrastructure of India.

Considering all these factors many opine that the budget is positive and balanced as the proposal to rationalize the capital gains tax regime is a positive step and the simultaneous reduction in the corporate taxes will ensure higher investment in the realty sector.

Dreamz Infra India one of the best builders providing affordable apartments for sale in Bangalore. Construction work is in full swing of Dreamz 7 projects which are located at Electronic City, Marathahalli, Sarjapura Road, Silk Board, JP Nagar.