Monthly Archives: January 2024

Forbes Global Properties enters the Indian real estate market with plans to build in Goa, Delhi, and Mumbai.

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In Navi Mumbai, Forbes Global Properties intends to construct a 100-acre project. It is negotiating for a housing project in Goa and a commercial project in Delhi. 

On January 24, US-based Forbes Global Properties revealed its entry into the Indian real estate market by providing brokerage services for upscale residences. In collaboration with landowners, it also intends to build two projects totaling 10 million square feet in Delhi and Mumbai. It also investigates the possibility of building a 10-lakh-square-foot residential project in Goa.

The amount of money the company planned to invest in India was kept a secret. 

Forbes Global Properties, a company founded in December 2020, not long after COVID-19, entered the Indian market using a membership network model. It is already present in 26 countries, where 17,000 agents serve clients with real estate needs.  

The international company will receive a membership fee from the Indian venture “Indian Forbes Global Properties.” The Indian venture’s chairman will be A.K Sharma. According to Sharma, the business would use a development management model to carry out projects. “Brokerage is our primary business,” Sharma stated. “India Forbes Global Properties will offer brokerage services for the luxury residential market and is considering purchasing equity stakes in at least two of these consulting firms.” 

India has a sizable market and economy. To better assist our clients looking to purchase and sell luxury properties, we have expanded into India. Forbes Global Properties CEO Michael W. Jalbert will reporters in this location. 

India Forbes Global Properties will first develop a 100-acre mixed-use project in Navi Mumbai in partnership with Orange Smart City, building a 1,200-acre integrated township. Infrastructure construction is the responsibility of the Mumbai Metropolitan Region Development Authority (MMRDA). 

PropEquity Analytics and India Forbes Global Properties FGP have partnered as well. 

“In 2019, there were about 5235 units in India’s luxury real estate market (above $1 million), with a total value of $5 billion. It is now a more than 100% increase in that number.  Approximately 13,600 units are worth $12 billion today. The demand from the NRI segment and the general expansion of the Indian economy are the main reasons for this number’s growth, according to PropEquity’s founder and CEO, Samir Jasuja. PropEquity is a cutting-edge online search platform for real-time data, intelligence, and analytics. 

The network of invitation-only Forbes Global Properties members represents many of the best properties available worldwide for purchase and is exclusive to the most illustrious brokerages in particular cities and second-home destinations. High net-worth individuals, inventors, and real estate investors will have access to some of the most sought-after and unique properties through Indian ventures.  

The Center forbids using BS 3 and 4 vehicles in Delhi and forbids non-essential construction activities.

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Delhi’s air quality has worsened, and the city is now rated GRAP-3. Consequently, all construction and demolition projects that are not necessary have been prohibited in the capital. Older cars that meet BS3 (petrol) and BS-4 (diesel) regulations are also currently limited. Keep reading to find out how this change affects project deliveries in Delhi NCR. 

The Center forwarded an order on January 14 prohibiting non-essential construction work in Delhi-NCR. Due to rising pollution, the ownership of vehicles classified as BS-111 gasoline and BS-1V diesel has also been put on hold. Continue reading to learn how this rise in pollution will affect the city’s construction sector.  

With values of 458 and 457 at 10 and 11 am, respectively, the Commission for Air Quality Management (CAQM) observed a significant increase in Delhi’s Air Quality Index (AQI), prompting the implementation of this decisive plan. To address the “severe” level of air quality, the commission, a statutory body tasked with developing and implementing strategies for reducing air pollution, has implemented Stage-111 restrictions of the Graded Response Action Plan (GRAP), which has activated countermeasures for the “severe” air quality. 

What are the stages of GRAP?

The GRAP is a set of procedures used in Delhi-NCR to track air quality. Based on the region’s consistent AQI, it usually falls into four phases. 

The Graded Response Action Plan’s phases

AQIZoneStages of GRAP
201-300PoorStage 1 
301-400Very Poor Stage 2 
401-450SevereStage 3 
451 and aboveSevere plusStage 4 

Millions of people’s health is at risk due to the unsettling smoky haze that blankets Delhi NCR every winter. The air continues to pollute despite efforts with AQI levels regularly exceeding the safe limit. It is important to remember that any AQI value above 60 is considered hazardous to health. 

Particulars of the GRAP 111 restrictions 

The Commission for Air Quality Management (CAQM) oversees stage 111 of the GRAP, which includes these strict regulations. There are a few things that do not belong at this point:  

  • Earthmoving tasks such as drilling, boring, filling, and excavation
  • From fabrication to demolition, structural construction tasks
  • Construction material movement, including loading and unloading 
  • A raw material transfer involving fly ash
  • Moving cars on unpaved surfaces 
  • Flooring projects like installing waterlines and sewer
  • Flooring projects utilizing stones, tiles, etc. 

However, projects about railroads, metro, national security, and defense were exempt from the ban. 

What effect might a construction ban have on Delhi NCR real estate? 

In the Delhi NCR, including Greater Noida West, Yamuna Expressway, New Gurgaon, Noida Expressway, Dwarka Expressway, Central Noida, Greater Faridabad, Raj Nagar Extension in Ghaziabad, Sohna Road, and Golf Course Extension Road, more than 4.5 lakh residential units are currently under construction, and the total number of units in these areas is over 4 lakh. 

According to an industry report, residential projects in Delhi NCR typically take 6-8 years to complete, so a construction ban due to air pollution could be a significant setback for ongoing projects. According to experts, prohibiting buildings because of poor air quality could have detrimental effects. 

Do you know the current ready reckoner rate in Kailash Nagar, Thane?

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Investors and homebuyers gravitate to Kailash Nagar’s commercial and residential properties in Thane. If Kailash Nagar has caught your attention and you fall into any of these categories, it would be helpful to understand the ready reckoner rate in the area. With Propertywala, you can find the most recent rates in Kailash Nagar, Thane.

Kailash Nagar, adjacent to Thane’s main thoroughfare, Ghodbunder Road, presents numerous opportunities for real estate investors. However, from the perspective of a first-time home buyer, the neighborhood offers all the social and medical resources needed to establish a home and raise a family. It is crucial to ascertain the ready reckoner rate before beginning your search for properties in this area, regardless of your motivation. Here are the specifics of Kailash Nagar, Thane’s ready reckoner rate.  

The significance of the ready reckoner rate in Thane’s Kailash Nagar 

The State government determines the property’s fair value, known as the ready reckoner rate. The builders may never charge less than the ready reckoner rate; it is the maximum amount they will ever take. 

As a result, investors and homebuyers will have to pay more when the state government adjusts these rates. The state government receives income from the ready reckoner rate, which controls stamp duty and property registration fees. Setting a budget for the impending home-buying project also starts with knowing these fundamental house rates.

Determinants of Kailash Nagar’s ready reckoner rate 

  • Geographical proximity to important locations, including commercial districts, medical facilities, and schools, may affect Kailash Nagar’s ready reckoner rate. 
  • Infrastructure: Access to essential services like electricity, water, and decent roads can affect the area’s real estate prices.  
  • Demand and Supply: A vital factor in determining the ready reckoner rate is the demand for residential real estate and the availability of land for development. 

Introduction to Kailash Nagar, Thane, and the ready reckoner rate 

Kailash Nagar Thane is a thriving residential area in the heart of Thane, Maharashtra. Due to its advantageous location and first-rate connectivity, Kailash Nagar is now a popular choice for investors and homeowners. 

Place and communication

With the Tahne railway station only five kilometers away, Kailash Nagar provides quick access to major transportation hubs. Ghodbuner Road offers access to the area from Mumbai, and it is close to numerous significant locations, including shopping malls, hospitals, and schools. 

Facilities and Amenities 

Residents of Kailash Nagar Thane have access to a wide range of facilities and amenities. Everybody needs local amenities like retail malls, medical facilities, and well-kept parks and playgrounds. It is the perfect location for families with children because it is home to reputable colleges and schools. 

Potentials 

The real estate market in Kailash Nagar Thane will continue to experience further growth with the development of upcoming infrastructure projects like the metro line and the proposed Motagaon-Mankoli Bridge. It is a fantastic chance for investors who want to take advantage of the potential in the area.

Residential ready reckoner pricing in Thane’s Kailash Nagar 

Affordable housing and convenient amenities are two of Kailash Nagar’s best-known features. A ready reckoner rate for residential properties in Kailash Nagar is crucial when buying or selling real estate. The following are the ready reckoner rates for residential properties in Kailash Nagar, Thane, which is close to Ghodbunder Road: 

Kailash Nagar, Thane: Ready reckoner rates for residential properties 
Division Rates per square meter for an open land Apartments for residents (per square meter) 
The Ghodbunder Road on both sides 25,40094,600 

Due to high inflation, foreign investments in the Indian real estate sector are declining

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Due to rising inflation and geopolitical concerns, foreign investments in the Indian real estate market, led by the US, decreased in 2023. The most popular investment asset was, remarkably, office space. 

Amidst global uncertainties, American institutions’ investments in the Indian real estate market dropped by 39% in 2023 to $1.35 billion, according to JLL India. Despite this, foreign institutional investors remained the primary contributors to the Indian real estate market, accounting for 63% of all investments in 2023 after increasing by 14% from the previous year. 

Since 2006, investors worldwide have found India’s real estate market particularly appealing, especially those from the US. US investments have regularly made up 40-45 percent of total investment inflow over the last five years.  

India has grown economically despite obstacles like the global economic downturn and geopolitical unrest. 

In 2023, the country’s real estate market brought in over $5.8 billion in institutional investments through 53 deals, up 14% from the year before, according to JLL India. 

Lata Pillai, senior managing director and head of capital markets at JLL India, stated that inventors are becoming more cautious due to the current mix of inflationary pressures and geopolitical uncertainties in the US economy. 

Several foreign investors, including Blackstone, GIC, Abu Dhabi Investment Authority, Brookfield India Real Estate Trust, and Canada Pension Plan Investment Board, are involved in the Indian real estate market. 

With $50 billion in assets under management as of December 2023, investment firm Blackstone stands out as one of the largest investors in the nation. The company specializes in real estate investments in malls, hotels, data centers, and warehouses. 

Office space remains the most popular investment option based on industry tastes; by 2023, it will account for 52% of all investments. 

In the upcoming years, Pillai predicted, “new-age sectors like student housing, data centers, and housing are also gaining attention from inventors and will continue to attract a substantial share of institutional investments.”

According to Vestian, a commercial real estate services company with $4.6 billion in investment deals and platform commitments, the office sector has remained the most popular. As of 2023, it held the highest percentage of all declared investments (52%); the following highest percentages went to residential (32%) and logistics and industrial (13%). 

Vestian highlighted that because of their higher returns, the prominence of organized players, and their transparency, commercial assets have always been the “preferred choice” of foreign investors. 

“In India, the average rental yield for residential properties is between 2-3 percent, while the average for commercial properties is 7-8 percent. Additionally, organized players and a transparent business environment increase investor confidence,” stated Vestian CEO Shrinivas Rao. 

After Embassy Real Estate Investment Trust departed, Blackstone became India’s office property owner, covering 70 million square feet. In addition, Blackstone has worked with the Embassy Group, K Raheja, Panchshil, Salarpuria, and Hiranandani on multiple projects. 

According to Vestian, foreign investors looking for higher investment returns will pour money into the Indian real estate market as soon as the global economy stabilizes. 

“Planned infrastructure developments and the strong performance of the Indian economy are expected to drive growth, even in the face of a global slowdown,” stated Pillai. 

In addition, Pillai predicts that new investment opportunities such as data centers, flexible spaces, real estate investment trusts, and infrastructure investment trusts will expand rapidly in the upcoming years due to intrinsic domestic demand. 

All the information a prospective homeowner needs to know about Isnapur, Hyderabad

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Building extensions to the farthest locations has made Isnapur one of Hyderabad’s many new residential hubs. Isnapur, a short drive from Patancheru’s business district, is a well-known investment destination with easy access via NH-65, a tranquil atmosphere, and housing developments from renowned builders like Ramky Group. 

Isnapur, a developing neighborhood in North Hyderabad, is beside Cheruvu Lake and offers easy access to the city’s other regions via NH-65 and the Outer Ring Road. The region’s affordability and proximity to the Patancheru Industrial Hub– about 10 km away–contribute to its appeal. As a result of these factors, more and more housing projects, including Ramky Nextown by the well-known Ramky Group, have been established in Isnapur. 

Purchasing real estate in a place like Isnapur could be profitable because land prices have risen by about 80%. However, where should I invest in Isnapur, and what is the state of the local infrastructure like? Let’s find out!

Reasons to Invest in Hyderabad’s Isnappur 

The following is a thorough summary of the elements that draw investors to Inapur: 

The existence of well-known developers 

On the outskirts of North Hyderabad lies a residential neighborhood called Isnapur, which is rapidly developing. The Nehru Outer Ring Road, which connects the area to various parts of Isnapur, is located within four kilometers of the city, even though NH-65 passes through it. The many residential hubs that encircle Isnapur contribute to its vibrancy. Pahamylaram, Pocharam, Citizens Colony, and Lakdaram are a few of the surrounding locations. Ramky Estates and Farms Hyderabad has introduced Ramky Nextown, a new housing project in the area, in light of Isnapur’s strategic location. 

Expected to be finished by December 2026, Ramky Nextown is a gated community spanning 7.78 acres (4.8 acres in Phase 1). Starting at Rs 55 lakh, the project offers roomy 2 BHK residential apartments with large balconies. Each Ramky Nextown unit has a super built-up area of approximately 1000-1010 square feet. Three towers with ten stories each and 550 units total will be part of the project when it concludes. Ramky Nextown’s RERA number is P01100007370. 

Prospective homeowners in Ramky Nextown can take advantage of over twenty amenities, including a car wash area, swimming pool, football field, salon, spa, and child care center. Ramky Nextown also provides its residents with the benefits of modern amenities and a natural setting, as 70% of the space. 

Location strategy 

Inapur is a residential area with good transportation links. Therefore, purchasing real estate here would enable hassle-free access to Hyderabad’s most well-known locations. Major transit hubs close to Ramky Nextown include: 

  • NH-65 is about 400 meters away, and Nehru Outer Ring Road is about 4 kilometers away. 
  • By NH-65, Patancheru and Nagalapalli railway stations are roughly 7 to 12 km apart. 
  • The Nehru Outer Ring Road takes approximately one hour to reach Rajiv Gandhi International Airport.  

Proximity to work areas 

In addition to saving money and time on commutes, owning a home close to one’s place of work also opens up future rental opportunities. Ramky Nextown’s project site, Isnapur, is one such location with numerous nearby commercial establishments. A selection of them is enumerated as follows: 

  • Isnapur is roughly 6-10 km from Patancheru Industrial Area and Pashamyalaram Industrial Park. 
  • Easily accessible via Nehru Outer Ring Road are the well-known IT hubs of Gachibowli (27 km) and Financial District (25 km). 
  • There is roughly a 15-kilometer divide in BHEL Township. 

A well-liked vacation spot 

Pashamylaram Lake is one of Isnapur’s other noteworthy features. Isnapur is a popular tourist destination because of its lush, abundant vegetation and the picturesque Pashamylaram Lake, about three kilometers away. Pashamylaram Lake, well-known for its serene atmosphere and breathtaking scenery, welcomes plenty of tourists. It remains a popular destination for those seeking peace and tranquility. Many residents from the neighborhood visit this place to spend time together and go for walks in the morning and evening. Many people visit the nearby natural sanctuary of Cheruvu Lake.

The possibility of investment

Isnapur’s closeness to industrial areas and IT hubs, along with its easy access via NH-65 and the Outer Ring Road (ORR), are the main reasons for the spike in demand for real estate in the area. Tenants and home buyers alike now find the area a desirable place to live. According to PropertyWala, the average cost of real estate in Isnapur, Hyderabad, is about Rs 3,000 per square foot, following an astounding 80% increase in land prices over the previous five years. The average monthly rent for a two-bedroom apartment in Isnapur is between Rs 12,000 and 16,000, making it the most sought-after rental option. 

One key benefit of Iasnapur is its affordability, which offers investors a good chance to profit from future price growth, particularly in light of impending infrastructure projects. The following infrastructure initiatives are a few that should benefit Isnapur: 

  • The planned four-kilometer road would reduce traffic close to Isnapur and link Pashamyalaram Industrial Hub to the Outer Ring Road. 
  • The NH-65 connects Isnapur directly to Sangareddy, where the four-lane Hyderabad Regional Road would pass. 
  • Another significant project that may change the game is the Hyderabad-Bengaluru High-Speed Rail Corridor. According to the plans, there would be stations for the rail corridor at Yelahanka in Bangalore and Secunderabad in Hyderabad. Isnapur is approximately an hour’s drive from Secunderabad. 

Residents’ opinions 

According  to a tenant in the area, “Isnapur is a growing residential hub close to the well-known Patancheru Industrial Area and has excellent public transportation connections to other parts of the city.” One of the advantages of residing in Isnapur over other areas of Hyderabad is the affordability of housing options. Several gated communities and apartment complexes with contemporary amenities and facilities have emerged in the area due to the recent rapid growth in residential development. It is a handy place for families with kids because of its numerous educational facilities such as colleges and schools. Furthermore, hospitals, restaurants, and retail centers are all close by.” 

Obtain Environmental Clearance for Building Projects

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Environmental clearance is one of the most crucial factors to consider when planning a construction project. It is the requirement for appropriate environmental clearance for construction projects in many cities. 

The environment may be significantly impacted by construction projects, both during and after the project concludes. Therefore, construction companies acquire environmental clearance from the relevant authorities before starting a project. 

Getting an EC clearance can be a challenging and drawn-out procedure. But it is crucial to wrap up the project environmentally conscious.  

This blog post will discuss the notification process for environmental impact assessments in India. We will discuss the meaning of EIA draft notification and its implications for building projects. We will also examine how India’s environmental clearance procedure ensures that building projects happen with the least possible negative environmental impact. 

EIA: What is it? 

The process of acquiring data regarding the possible environmental effects of a proposed project is known as an environmental impact assessment, or EIA. The development of mitigation strategies to lessen or completely eradicate those effects comes next. 

There are usually multiple steps in the EIA process. 

Screening: The proposed project undergoes screening to determine whether it will likely have significant environmental impacts before moving forward with an EIA. Further assessment is not necessary if there is no possibility that the project will have an impact before construction can begin. 

Scoping: Should the screening step indicate that there may be significant effects, the study region must decide which particular impacts need to undergo assessment.  

Assessment: Information about the possible environmental effects of the proposed project is gathered following the establishment of the study region. Numerous sources, such as computer models, field research, and lab tests, may provide this data.  

Mitigation: Based on the results of the assessment step, mitigation measures are put in place to lessen or eliminate all of the observed effects. These could be adjustments to the project’s blueprint, alternative construction methods, or requirements for post-construction monitoring. 

Making a decision: Compiling and evaluating all available data will determine whether or not to proceed with the project. If serious environmental problems continue, changes could be made or even scrapped. 

What is an Environmental Impact Assessment Notification?  

Government action to preserve the natural world resulted in the 1986 Environment Protection Act. The government issues an Environmental Impact Assessment Notification under section 3 of this act, which mandates that parties seeking to initiate new projects or alter current ones notify the government in advance and adhere to specific guidelines to protect the environment.  

What is the EIA Draft Notification? 

A formal notice that construction projects will be subject to the EIA process is the draft notification for the EIA. Usually, the notice is posted on the project website and in a local newspaper. The notification contains details about the project, the reason for the EIA, and how to take part in the proceedings. 

A crucial step in the EIA process is the notification of the draft EIA. The alert should include all pertinent project information clearly and succinctly. Included should be the contact information for those who would like to learn more or contribute. 

Among the most important recommendations are those found in the newly published draft of the EIA notification 2020, which includes shortened periods for public comment and hearings. The draft has shortened the public hearing notice period from 20 to 30 days and the hearing completion time from 40 to 45 days. 

The analysis was missing several projects classified as A, B1, or B2. Furthermore, proponents must follow specific guidelines outlined in the EIA report following approval from the relevant authority, known as post-clearance compliance. 

Projects lacking environmental clearance can now apply for a post-facto clearance through the notification, allowing them to resume regular operations.  

Construction projects with a built-up area of up to 1,50,000 sq meters are exempt, which marks a significant increase over the previous exemption of 20,000 q meters. These projects must still undergo evaluation by a state-level expert appraisal committee before obtaining environmental clearance. 

India’s Environmental Clearance Procedure

The Environmental Impact Assessment (EIA) notification 2006 governs the environmental clearance process for construction projects in India. All projects needing an EIA must register with the relevant State Pollution Control Board or Pollution Control Committee, per the Notification. 

The notification also outlines the steps involved in conducting an environmental impact assessment (EIA), including holding public meetings, submitting reports, and getting approval from expert appraisal groups or EACs.  

In India, the goal of the entire environmental clearance process for building projects is to reduce any potential harm to the environment. 

Below is an explanation of the Indian environmental clearance procedure. 

  1. Locating and Choosing the Site 

To start the project, the proponent must find a site that satisfies all applicable siting guidelines. The proponent has to find another location if the project site needs to be better. 

  1. Evaluation of Categories 

The next step is for the proponent to determine whether the project’s proposed environmental clearance is needed. The proponent carries out an independent or assisted EIA study if the notification schedule permits it. 

  1. The SPCB-submitted EIA report and evaluation. 

The investor then gives the EIA report to the relevant State Pollution Control Board and the state-based forest department (if located adjacent to or inside the forestland). 

The SPCB assesses the quantity and quality of pollutants or effluent that the project will likely generate and the efficacy of the proposed control measures to comply with the regulations. If the SPCB finds no irregularities and approves, it will issue a No-objection certificate. 

  1. Public Discussion 

Since it allows citizens to voice concerns about the project, the public hearing is essential for environmental clearance. This procedure also occurs before the no-objection certificate is issued.  

The chair of the hearing committee is the District collector. Before proceeding to the approval stage, the hearing committee reviews all suggestions and objections from the general public. 

  1. Sending a request for consideration to MoEF. 

The project proponent applies to the Ministry of Forest and Environment for the necessary environmental clearance in the case of Project A and the state government in the case of Project B. The supporting documentation for the application includes the EMP, NOC, EIA report, and details about the public hearing. 

  1. Evaluation of the Environment. 

Workers at the Ministry of Environment and Forets have reviewed the documentation, and if more inspections are required, they can stand on location. Moreover, the applications are received by and regularly met with the environmental appraisal committees, which are for each industry sector, including mining, river valley, and industries. 

The committee may also arrange public hearings to foster community involvement in development decisions for specific initiatives that spark public interest. After that, the appraisal committees draft their recommendations for accepting or rejecting specific projects.

Getting around India’s constantly changing real estate laws

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India’s real estate market has a long history of being associated with complexity and opportunity. Stakeholders, from large international investors to individual homebuyers, have seen the regulatory framework change over time to strike a balance between sustainable development and rapid growth. The real estate industry’s legislative environment is currently changing, indicating a move in the right direction toward efficiency, accountability, and transparency. 

By 2024, the real estate sector will have a value of Rs. 65,000 crores, and by 2025, it will contribute 13% of the country’s GDP. As a result, the regulatory framework will evolve to encourage the growth of this actor. We must cope with this changing environment by recognizing and responding to these progressive developments revolutionizing the industry.   

The Start of Reforms in Regulations 

A turning point for the industry was the introduction of the Real Estate (Regulation and Development) Act of 2016 (RERA). An essential first step in revitalizing the real estate sector has been RERA, which attempts to protect buyers and increase developers’ accountability. The Act provides a systematic approach to resolving disputes by guaranteeing the timely completion of projects and establishing a regulatory body to oversee transactions. 

The Benami Transactions (Prohibition) Amendment Act amendment, which has been crucial in reducing illicit transactions and enhancing transparency, is another significant achievement. It fosters an environment of efficiency and trust, along with the government’s push to digitize municipal and panchayat papers and land records through the Digital India Land Records Modernization Programme (DILRMP). Legislative trends indicate that the liberalization of the Indian economy will continue to be prioritized, with a renewed emphasis on transparent real estate development and affordable housing initiatives. 

Inventiveness in Adherence 

We now reside in a more convenient and accessible era thanks to the digitization of compliance procedures. The red tape that formerly limited the industry’s agility has been reduced thanks to online portals for RERA-mandated project registration, complaint filing, and project progress reports. Significant improvements have occurred to the ease of doing business, boosting investor confidence domestically and internationally. Furthermore, buyers can now make better-informed decisions about the projects they invest in thanks to the transparency that RERA has brought about. 

Financial Regulations: A Step in the Right Direction 

The Goods and Services Tax (GST) has simplified the structure of real estate taxes, thus reinforcing financial discipline. Furthermore, the Pradhan Mantri Awas Yojana (PMAY) is bolstering the affordable housing market, drawing in investments and guaranteeing that the populace can realize their dream of owning a home. Affordable housing saw a significant boost with the announcement during the Union Budget 2023-24 of a commitment of Rs 79,000 crore (US $ 9.64 billion) for the PM Awas Yojana. 

By lowering lending standards for home loans and updating the sector’s risk weights, the Reserve Bank of India (RBI) has also contributed positively. It has encouraged banks to lend more money to developers and homebuyers, increasing the sector’s liquidity. 

Furthermore, India’s real estate market has historically been strongly protected and heavily shielded from foreign investment by stringent laws that only allow foreign companies to make local partnerships or joint venture investments, emphasizing particular project types like townships. But under the ‘Make in India’ initiative, 100% foreign direct investment (FDI) is now permitted for large-scale infrastructure and real estate developments, including townships, industrial parks, shopping centers, and more, thanks to reforms begun in 2005 and further enhanced in 2016. This method keeps smaller-scale real estate ventures for Indian businesses safe from being overtaken by foreign corporations by strategically directing foreign investments toward large, capital-intensive projects. 

These regulatory policies do have a positive effect; this is not just theory. It is a reality that is beginning to take shape and is already providing noticeable advantages. 

Promoting Sustainable Development 

The government’s emphasis on energy transition and reaching Net Zero targets is India’s real estate industry toward a sustainable revolution. The introduction of the Green Rating for Integrated Habitat Assessment (GRIHA) is driving the creation of energy and environmental efficiency. This change indicates a clear path toward environmentally, socially, and economically beneficial sustainable practices. An additional ambitious project is the Smart Cities Mission, which seeks to integrate urban development and sustainability into a model that could emulate. 

India’s real estate laws are evolving, which indicates potential for future development and improvement. Cooperation amongst regulators, consumers, developers, and the government highlights a dedication to a sector that sustains sustainability and makes a substantial economic contribution. This adaptable governance structure satisfies both the demands of the general public and market dynamics. Maintaining and strengthening these rules is essential to creating an open, effective, and equitable ecosystem, which is necessary for a robust real estate market and economy. Despite its complexity, this shifting landscape creates opportunities for a more stable and reliable real estate sector, which is critical to India’s continued economic development.  

Discover the top Indian cities for commercial real estate investments.

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Real estate investing has long been considered a prudent financial move, and commercial real estate has always set the standard for available options. Several Indian cities present enticing returns for investors in commercial investment while compiling a list of India’s top cities. 

Everyone says, “Investments are subject to market risk,” but very few guide where to put your money. This article may be helpful if you are considering investing in commercial real estate in India and are looking for options. 

Even though our nation is still developing, some cities have incredibly developed real estate markets with excellent investment opportunities. This article lists the top three cities for investing in commercial space with their benefits. 

What is a commercial property? 

Any real estate used for purposes other than residential is considered a commercial property. These properties, which can be office spaces, retail stores, industrial warehouses, or hospitality establishments like hotels and restaurants, are all intended to bring in money. 

Advantages of owning commercial real estate

Whether it is a home or business, real estate investment continues to be considered the better choice. Compared to other real estate investment options, commercial property has certain advantages. They are as follows:  

Consistent Revenue 

The possibility of a consistent income stream is one of the main benefits of investing in commercial real estate. Unlike residential spaces, commercial spaces usually involve long-term lease agreements with businesses. For investors, this guarantees a steady stream of rental income that is predictable and stable.  

Greater returns on rentals 

When compared to residential properties, commercial properties typically offer higher rental yields. Because the returns are typically higher, it is an appealing option for people looking to maximize their investment returns. 

Greater duration of leases 

Generally speaking, commercial leases are deeper than residential ones. As an investor, you can profit from long-term income stability, which lowers the risk of vacant properties and fluctuations in income. 

An increase in property value

Commercial properties in prime locations frequently increase in value over time. Property values rise in response to an improvement in the local business climate, which raises demand for commercial space. 

India’s top cities for commercial real estate investments 

Risks, future potential, and return on investment (ROI) are a few variables that determine which city is best for commercial investment. The top three Indian cities for commercial space investment have been ranked. Take a look at the list: 

Bangalore 

Bangalore, sometimes known as the Silicon Valley of India, is a popular place to invest in real estate both residentially and commercially. Due to its close ties to the thriving IT actor, there are numerous employment opportunities in the real estate sector. 

Astute investors believe Yelahanka, Hebbal, and Electronic City are great choices. Large companies like Dell, Aegis, Infosys, Wipro, Hewlett-Packard, Accenture, Tata Consultancy Services, and Tech Mahindra have chosen Bangalore’s IT sector, which boosts the city’s real estate market. 

Considering this, real estate investing is still very common in Bangalore. The dynamic real estate market presents an ideal opportunity for investors seeking to increase and stabilize their real estate holdings. 

Mumbai 

Mumbai, India’s financial hub, has added residential and commercial space to its real estate portfolio. Mumbai is one of the priciest places to invest in real estate investments, making it one of the most expensive places to do so. 

The strategic features of the city, such as the Mumbai Trans Harbour Link, Atal Setu, and several metro links, are crucial in promoting the growth of commercial real estate. As a result of this advancement, builders and developers have aggressively promoted investment by providing significant discounts on real estate. The Maharashtra government’s discounts and reductions in stamp duty have increased consumer confidence and interest in the market. 

Pune 

Pune, a megacity in Maharashtra, has established itself as a city with potential commercial investment, contributing 13 percent of the state’s GDP. The city is a center for technology, and major companies in the sector are in high demand for commercial space. The city’s excellent connection to Mumbai has contributed to the recent explosive expansion of the housing market. 

Pune’s real estate values have shown investors an excellent return on their investment. The purchase of real estate (both residential and commercial) saw a notable uptick in 2021. Experts in real estate predict that the city will maintain its current trend and emerge as a viable center for commercial investments. 

Summarize 

India and its developing cities offer investors plenty of space and investment potential. Therefore, the ideal location for your commercial real estate investment if you want a higher return on investment. Bangalore, Pune, and Mumbai are the best places to invest in commercial real estate. Before investing in any type of real estate, whether commercial or residential, it is advisable to conduct in-depth market research.

How to Purchase Real Estate in Singapore for Indians

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Finding a place to call home in Singapore for an Indian needs careful preparation and execution. The nation permits foreigners to purchase real estate under certain restrictions. To buy a property in Singapore, a buyer must fulfill the eligibility requirements, which include Indians. Propertywala gathers all the information a potential homeowner could need to learn about the steps, expenses, and taxes associated with buying a property. 

Singapore has become a modern-day business hub. If you intend to move to Singapore or if you want to purchase a property only as an investment, there are a few key factors that you should take into account. For foreigners to buy real estate in Singapore, including Indians, they must fulfill specific requirements. The following article offers vital details to help buyers navigate the real estate market in the nation. Examine the steps, expenses, and taxes associated with purchasing a property in Singapore.  

How to Become Eligible to Purchase Property in Singapore 

There are certain restrictions on foreigners purchasing real estate in Singapore. The following is a summary of the requirements for foreigners wishing to buy real estate in Singapore: 

Who can purchase a home in Singapore, and what can they buy? 
Non-permanent residents of Singapore (Non-SPRs) purchasing on their own: You can buy fresh HDB (Housing Development Board) flats.  
An HDB apartment for sale is not something you can buy on your own. 
Can purchase resale ECs that have a five-year minimum occupation period (MOP)  
Permanent residents of Singapore (SPRs) buying alone Only able to purchase an executive condominium (EC) that has been privatized and is older than ten years. 

SPRs jointly buy with other Singapore permanent residents 		Eligible to purchase a resale HDB apartment getting PR
Able to buy an EC that is over five years old. 
Can purchase a privatized EC that is older than ten years 

Purchasing SPR with a Non-SPR 		Able to buy an EC that has been on the market for more than five years 
Can purchase a privatized EC that is more than ten years old. 
Jointly buying as a Non-SPR couple. Eligible to buy a privatized EC that is more than ten years old. 

Purchase Real Estate in Singapore: Procedure 

In Singapore, purchasing a property entails a formal procedure. The following steps will help you navigate the process of buying a property: 

Step 1: Determine the cost of buying a home by negotiating a price with the seller. 

Step 2: Obtain the option to purchase (OTP) and make a 1% down payment of the purchase price to secure the property for a predetermined period. 

Step 3: Verify your choice by paying the final 9% down payment by the prearranged deadline. 

Step 4: Legal verification will verify who owns the property and whether it is eligible for sale. 

Step 5: The lawyer will prepare the documents for signature and title transfer. 

Step 6: The attorney will register the sale with the appropriate authorities and make sure all paperwork is in order. 

Step 7: The sale will conclude, and the property will officially become yours. 

Purchase a home in Singapore: Price and taxes. 

In India, purchasing a property in Singapore entails paying the purchase price plus additional costs like stamp duty and legal bills. Buyers should include these extra expenses in their budgets, alongside any applicable taxes. Take a look at the approximate price of a Singaporean property: 

Type of propertyApartment Price range (sq. ft)
Condo1,300 SGD – 4,800 SGD
Walk-up1,400 SGD – 1,600 SGD 

The following taxes are relevant when purchasing real estate in Singapore: 

Charge Some of 

Stamp duty for buyers (BSD)		For properties under 1,80,000 SGD, one percent 
Two percent for homes priced between 1,80,000 and 3,60,000 SGD 
3 percent for homes valued at 3,60,000 SGD  

Additional buyer stamp duty (ABSD) 		16% for visitors from overseas 
Five percent for permanent residents who buy their first property 
Ten percent of permanent residents who buy a second or subsequent home 
Conveyancing fees (legal fees) 0.30%
Note: There is a 1,800 SGD minimum fee. 

To sum up, with the correct knowledge, an Indian looking to relocate to Singapore can make the process go smoothly. The nation’s dynamic real estate market enables Indians and foreigners to purchase property subject to specific qualifications. It is worthwhile to consider purchasing a home in Singapore, whether as a residence, an investment, or a combination. 

India’s fast-moving luxury real estate market: Why

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The demand for various types of lavish real estate has continued to rise and does not seem to be decreasing, as evidenced by buyers’ insatiable appetite for luxurious homes. In contrast to affordable housing, luxury housing has experienced tremendous demand from consumers before and after the pandemic.

According to a recent Anarock study, luxury properties in metropolitan areas above Rs 1.5 crore are experiencing what some experts might call a “golden run.” The report estimates that between January and September 2023, 84,400 luxury homes (with prices over Rs 1.5 crore in prime real estate markets, including Delhi-NCR, MMR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata. This figure surpasses the previous record of approximately 39,300 units sold during the same period in 2022. 

A trend worth observing in the current market, in addition to the overall rise in sales, is the diversification of luxury real estate. Uber-luxurious penthouses, villas, independent floors, or apartments have established themselves as standard luxury offerings for the business and ultra-rich, particularly given the apparent rise in demand for them in major cities. Top developers and real estate magnates have either upgraded themselves into luxury developers or are expanding their footprints in it swimmingly, highlighting exceptional profitable values concomitant with the thrill of getting massive consumer attraction with no budgetary constraints. 

One of the main characteristics of a plethora of opulent homes that nearly seem like irresistible opportunities for wealthy individuals to invest in wealth is that it has transformed into an oasis of innovative and breathtaking recreational spaces. Luxury homes often feature a broad range of physical infrastructure that inhibits a profoundly cosmopolitan environment, such as an open terrace, medical room, business lounge with desktop stations, kids’ laboratory, moon deck, prayer room, floating cabana, infinity pool, and snorkeling pool; other features include outdoor grills with open-air dining, mini theater, tuck shop, children’s gym, yoga room, kids’ mania, spa and salon, virtual golf simulator, gaming zone, and sun-tanning salon. Conversely, community centers, gymnasiums, and sports clubs have lost their shock value. 

Concurrently, numerous homebuyers have stated that they want to invest in communities that have earned green certification; this is a natural consequence of the post-pandemic awakening, which has led to a growing consciousness among individuals regarding their health. Due to their preference for aesthetically pleasing and health-promoting properties for their family, kids, and themselves, people frequently invest in luxury real estate. However, most luxury real estate agents are going green and incorporating eco-friendly building toolkits into their development agendas, taking a cue from Sustainability. Luxury projects now oversee the widespread inclusion of green areas such as herb gardens, butterfly gardens, bird’s zones, meditation zones, jogging tracks, pottery barns, and fragrance gardens to promote environmentally friendly homes. 

“Gurgram is the hottest luxury real estate market in NCR,” claims Vikas Garg, Joint Managing Director of Ganga Realty. The old roads’ aesthetic appeal and the new corridors’ quick construction, particularly those near the Dwarka Expressway, have helped the luxury real estate markets thrive and draw in new homebuyers. Sector 84 has grown to be one of the most significant areas for residential investment because of its proximity to the Dwarka Expressway and the Global City project. Additionally, contemporary luxury developments have a charming, timeless appeal and idyllic charm with a lavish array of internal and external amenities and built-in features that appeal to plenty of first-time homebuyers who desire homes with comprehensive features.” 

Saransh Trehan, Managing Director of Trehan Group, elaborates on the significant growth of independent floors in Gurugram, stating that “Independent floors have reached an optional level of purchases in Gurugram, undergirding a dramatic shift in favor of low-density living which offers privacy, enhanced security, and composure. “Among the most popular locations for independent floor options are Golf Course Extension Road and Southern Peripheral Road. These roads frequently offer many opulent amenities, stunning interiors, and comforts. Millennials and Gen-Z are known for preferring independent floors over shared ones. They prefer large apartments with flexible layouts, guaranteed privacy, and the freedom to come and go when they want to.  

India has a remarkable history and is the birthplace of luxury real estate. Globalization has sparked an endless period of acculturation, with Western concepts such as villas, low-density housing, and penthouses becoming thematically Indianized and appealing to home buyers who also want Indian luxury homemakers to adapt, explore, and reinvent themselves in multiple ways due to travel and cultural exposure. Although “luxury” was once thought to apply exclusively to bungalows, modern luxury real estate has expanded to meet the needs and preferences of various luxury home buyers. 

In Thane, what will be the ready reckoner rate in 2024?

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Maharashtra’s vibrant city of Thane is home to a robust residential and commercial real estate market. It is beneficial to be aware of the ready reckoner rate in Thane, as there are some intriguing real estate projects planned for the city. 

One of the first things you do as a committed buyer or investor searching for suitable properties in Thane is establish a budget for the acquisition. Understanding the ready reckoner rate in Thane is essential for budgeting and navigating the real estate market. What are the ready reckoner rates in Thane’s most sought-after areas? Read on to find out! 

What is the Thane-ready reckoner rate?

These are the lowest property rates set by the government for a specific area. They are called Ready Reckoner Rates, Circle Rates, or Guidance Values. Stamp duty and registration fees are determined based on these rates when purchasing or selling real estate in Thane. The ready reckoner rates are in effect from April 1 to March 31 each year. The latest reckoner rates experienced modifications and adjustments on March 31, 2022. 

In Thane, the government sets benchmark property rates known as Prepared Reckoner Rates. They play a significant role in real estate transactions and affect the market. Both buyers and sellers should understand these rates to guarantee a fair deal and make wise decisions. 

Factors influencing Thane’s ready reckoner rates 

Several factors influence the ready-reckoner rats in Thane. As a result, different property types and locations have different rats. For instance, upscale residential areas tend to have higher ready reckoner rates than developing neighborhoods. Simultaneously, commercial rates increase in comparison to residential rates. The following are the main variables influencing Thane’s ready reckoner rates: 

Location 

One of the main determinants of a property’s Ready Reckoner Rate is its location. Higher rates tend to occur in areas with superior infrastructure, proximity to amenities, and good connectivity. For instance, because of their accessibility and popularity, prime locations like Ghodbunder Road and Polhran Road fetch higher rates.  

Type of property

Also influencing the Ready rates is the type of property. The rates for residential, commercial, and industrial properties vary. When calculating the rates, other factors like the number of rooms, amenities, and construction quality are considered, along with the property’s size and quality. 

Consumer desire 

The Prepard Compensator. The demand for properties in a particular area affects rates. In high-demand areas, rates are likely to rise. Considerations such as proximity to commercial centers, academic establishments, and medical facilities augment demand, leading to elevated prices. 

Building infrastructure

The Ready Reckoner Rates directly impact the infrastructure development in a given area. Rates may go up because of better roads, more accessible public transportation, and the availability of necessities like electricity and water. Thane’s ongoing infrastructure, such as the metro line and roads, will be the primary driver of future rate increases. 

Thane ready reckoner rates for the residential market 

The following is a list of the most recent ready reckoner rates for Thane’s residential area, some of which are well-known.

Ready Reckoner rates in Thane (2024) for residential properties 
Places in Thane Residential property rates 
Ambernath Rs 46500
BadlapurRs 39900
BalumbhRs 79900
BhiwandiRs 40600
DombivaliRs 61000
Ghodbunder RoadRs 98600
KolshetRs 94600
KulgoanRs 43200
KalyanRs 69100
MurbadRs 32700
MajiwadaRs 124000
Mira BhavndarRs 74800
NaupadaRs 130900
Nizampur City Rs 34700
ShahpurRs 36300
ThaneRs 83800
Ulhasnagar (CAMP A-CAMP-3)Rs 42600

Impact of ready reckoner rate in Thane 

The most recent data shows that, as of March 31, 2022, the Ready Reckoner Rates in Thane have increased by an average of 8.8 percent. This increase has directly impacted the city’s real estate market. For example, residential properties in desirable areas such as Thane West and Ghodbunder Road have experienced a substantial rise in the mean price per square meter. 

The rise in Ready Reckoner Rates has also affected how affordable properties are in Thane. Due to the higher rates, buyers of homes now have to pay stamp duty and registration fees. Because of this, buying real estate in the city has become difficult for people with middle-class incomes. 

Anyone working in the residential real estate industry in Thane needs to be aware of the Ready Reckoner Rates. These rates are vital in real estate transactions because they give properties a uniform valuation. It is best to consult a real estate advisor and stay with the latest rates for accurate information. 

Goa remains the most popular destination for vacation homes, with 71% of wealthy Indians wishing to invest in luxury real estate in the next two years.

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Compared to lifestyle upgrades last year, capital appreciation currently outweighs the primary justification for purchasing real estate. 

Up to 71% of wealthy Indians plan to make real estate investments within the next 12 to 24 months, demonstrating an abundance of confidence in the real estate market. According to India Sotheby’s International Realty (ISIR) annual Luxury Outlook Survey 2024, capital appreciation is now driving real estate investment more than lifestyle upgrades, which is why investors are returning to the market.  

High-Net-Worth Individuals (HNIs) and Ultra High-Net-Worth Individuals (UHNIs) expressed confidence about investing in the real estate market, according to India Sotheby’s International Realty (ISIR) annual Luxury Outlook Survey 2024. A startling 79% expressed confidence in the economy’s positive trajectory in 2023-24, up from 59% the previous year.  

Regarding home loan interest rates, the Reserve Bank of India (RBI) expected 56% of NHIs and UHNIs to begin lowering rates in 2024, which bodes well for mortgage and financing prospects. 

Diversified holdings in real estate 

A startling 83% of wealthy Indians, according to the survey, own several homes, indicating a trend of diversifying real estate portfolios among the affluent. 

Aside from primary residences, 34% own business property, 25% vacation homes, 21% farmland, and 20% farmhouses. 

Up to 35% of vacation home purchasers stated that Goa was their first choice for a second residence, underscoring the city’s ongoing appeal to India’s affluent. 

At 12%, the desire to invest in properties abroad stayed consistent, with the USA and Dubai, United Arab Emirates, being their top choices. 

Consolidation of real estate portfolio 

Up to 43% of HNI and UHNI respondents said they to focus on higher-quality properties and assets that generate income to consolidate their portfolios. One-third of UHNIs and HNIs now use electronic tools like walkthroughs and 3-D virtual reality for research and property viewing. 

“Record-breaking home sales figures in Indian real estate in 2023 and an all-time high stock market are indications of the growing economic momentum. In the next 12 to 24 months, the top end of the real estate market will gain the most. Goldman Sachs Group Inc. projects that the number of people in the affluent class will almost double to 100 million over the next three years. The ultra-wealthy in India are increasing. The ranks of the ultra-rich have continued to rise due to the strength of start-up ecosystems and the increasing number of unicorns. Amit Goyal, Managing Director of India Sotheby’s International Realty. “Our Luxury Outlook survey results show a renewed and heightened interest among investors who now view real estate as a compelling avenue for long-term wealth creation.” 

“The resilience and potential of the Indian economy is evident in the remarkable shift in economic sentiment we are now witnessing. This increase in luxury projects in the top seven cities is not surprising. Alongside a wider understanding of real estate’s enduring value and potential for long-term financial growth, there is also a shift in mindset. The CEO of India Sotheby’s International Realty, Ashwin Chaddha, stated, “We think investors are strategically positioning themselves for wealth accumulation and creating multi-generational wealth through real estate investments.”

The Ram Mandir in Ayodhya is a shining example of India’s spiritual and cultural heritage.

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The New Year begins with a good start as we eagerly welcome the biggest event of the year, which our nation will witness live on January 22 at 12:20 p.m. Yes, we are talking about the Ram Janmabhoomi in Ayodhya and the consecration ceremony of the Ram Lalla idol.

The sound of Ram Aayenge can be heard everywhere, from the enormous nationwide celebrations to Ayodhya emerging as a significant center for culture and tourism and religious leaders criticizing politicization. Everywhere you look in Ayodhya and other parts of the nation, there is a sense of euphoria. 

People disagree over the Ram consecration, arguing that politics should prevail over religion. Because political leaders ‘interfere in religious affairs,” some of the saints of Ayodhya have chosen not to participate in the ceremony. 

One of the saints stated, “It is against the sacred Hindu scriptures to hold the ceremony before the temple construction is complete.” 

Over the years, there has been discussion about the ancient city, even though it is nothing new for Ayodhya. That will still be a historic event for millions of Hindu devotees. Prime Minister Narendra Modi is getting ready to give a speech to the people, emphasizing the advancement of India’s cultural legacy and development. In light of this, Prime Minister Modi announces the start of his 11-day fast in advance and encourages everybody to celebrate this wonderful occasion– the Homecoming of Ram– by lighting up their homes!

The grandeur of the Ram Mandir in Ayodhya will bring in over 1.5 lakh devotees to the town of the temple. Let us examine its lasting influence, which permeates the nation’s spirituality, history, and social cohesion. 

History of Ayodhya Ram Mandir 

The legend behind the centuries-old history of Ayodhya’s Ram Mandir stems from the Ramayana, where the revered Hindu deity Lord Rama is said to have been born. 

Tucked away on the banks of the Surayu River in Ayodhya, Uttar Pradesh, India, is where the Ram Janmabhoomi is said to be. Apart from its religious significance, the historic town provided the setting for Lord Rama’s life story in the epic Ramayana.

According to legend, the original temple was built at the start of the twelfth century. However, a protracted legal dispute resulted from the 16th-century construction of the mosque known as the Babri Masjid.  

The Babri Mosque’s Demolition and Its Aftereffects 

In the 20th century, the Mandir-Masjid dispute grew substantially, becoming a political hotbed rife with conflicts between communities and legal disputes. The destruction of the Babri Masjid on December 6, 1992, marked the tragic apex of the conflict. This incident was a turning point that tore apart India’s socio-political structure and set off nationwide communal riots. 

Court Cases and the Decision 

Following the demolition, the country became mired in protracted legal disputes and battles that questioned identity, national security, and religious freedom for decades. The case finally reached its apex when the Indian Supreme Court handed down its landmark decision on November 9, 2019, following a comprehensive review of all available evidence and documentation. After a protracted legal and emotional journey, the court decided in favor of the construction of Ram Mandir at the location, allocating a different plot of land in Ayodhya as a mosque. 

New Dawn: Construction of Ayodhya Ram Mandir 

In August 2020, following the historic Supreme Court ruling, work on the sacred temple at the Janmabhoomi site got underway. Prime Minister Narendra Modi’s Bhoomi Pujan ceremony took place after it. 

The Shri Ram Janmabhoomi Teerth Kshetra Trust is responsible for the temple’s construction and consecration ceremony. Several temples spread across about 70 acres of land will be part of the RAM mandir complex. The Ram Mandir budget is estimated to be between Rs 1,400 and Rs 1,800 crores. 

The Ayodhya Ram temple, which occupies 2.7 acres, is praised for fusing cutting-edge design with India’s architectural legacy. The Mandir’s architecture, which combines traditional craftsmanship with modern building techniques, is inspired by classical Hindu temples and celebrates technological prowess with the glorious past. 

Ayodhya Ram Mandir Temple Architecture 

The Ayodhya Ram Mandir, created by the Sompura family and the Larsen & Toubro construction company, is expected to be a stunning work of art. The temple complex stands by its magnificent proportions, elaborate design, strong spires, and delicate sculptures. 

The Sompura family is renowned for temple architecture, crafting more than 100 temples, including the notable Somnath temple. The chief architect Chandrakant Sompura, assisted by his sons, revised the original 1988 design and tweaked certain modifications. 

Design of the Temple 

The Nagara style, which features tall, multiple shikhara, and the Dravidian style, which incorporates gopurams, are the primary influences on the temple’s aesthetics. 

Deeply rooted in Hindu texts, the temple’s design balances positive energy by following Vastu Shastra principles. The three floors of the larger, enlarged temple design now include five exquisitely crafted domes (mandapas) and elaborate pillars that add to the overall beauty of the structure. At 161 feet high, the central spire, or shikhara, is the third-largest Hindu shrine in the world. 

Description of the Ayodhya Ram Mandir Building

The temple’s most noticeable aspect is its octagonal Garbha (Sanctum sanctorum), which, in keeping with the tradition of Vishu temples, houses the idol of Ram Lalla, the infant ideal of Lord Rama. 

What distinguishes the Ram Mandir’s structure from others? Stone, wood, cement, copper, and gold are used instead of iron and steel, honoring India’s traditional and sustainable methods. The meticulous attention to detail carved into these materials adds to their exquisite appeal. 

Sculptures and Specifics 

Pink marble from Rajasthan’s Bansi Paharpur stone, known for its durability and beauty, adorns the superstructure of the Ram temple. These unusual pink sandstones occur in the Bharatpur District of Rajasthan on other remarkable structures, such as the Parliament Complex, the Akshardham Temple, and Lal Qila Agra. 

The walls and pillars, adorned with elaborate carvings and rich depictions of Hindu deities, floral motifs, and scenes from the Ramayana, serve as a testament to our rich history. 

Cultural Parade 

In addition to its magnificent physical structure and historical legacy, the Ayodhya Ram Mandir has cultural and symbolic significance. Festivals and celebrations will occur to mark the much-anticipated event, creating a festive atmosphere and breathtaking visual show.

Politics leaders and other dignitaries around the globe have received invitations to the event, and preparations are well underway. The 7,000 guests are executives, famous people, athletes, army officers, religious leaders, and honorees. 

On January 24, however, the temple will be operational and accessible to the public. Multiple cultural delights, such as the Ram Charan Paduka Yatra, Ram Leelas, and much more, will serve as the primary ceremonial occasion.

As part of the Swatchhata Abhiyaan, PM Modi has already sparked the festivities and customs by cleaning the grounds of the Kalaram Temple in Nashik. He urged the nation’s temples to engage in cleaning initiatives. 

Gifts from all over the nation and overseas indeed to the religious fervor at Ayodhya Ram Mandir. A heartfelt symbol of unity, harmony, and devotion!

Among the unusual presents are alloys made from eight metals (gold, silver, copper, lead, zinc, tin, iron, and mercury) and a 2,100 kg carved-off temple bell. Metal idols for Hindu and Jain temples in India frequently come with it. 

A 500 kg gold foil Nagada (temple drum) from Gujarat and a 108-foot incense stick that will burn for 45 days and spread its fragrance over several kilometers are additional huge presents. Other souvenirs include gold shoes, a clock, the lock and key in the world, which stands ten feet tall, and more. 

Furthermore, Sri Lanka and Nepal, two neighboring countries where Goddess Sita was born, generously donated to the Ram temple. 

Ayodhya City Renovation! 

Ayodhya is transforming into a vibrant city ahead of the ceremony preparations. The Master Plan 2031, which calls for an investment of more than 80,000 crores, divides the redevelopment of the temple town into several themes, including embracing modern and cultural Ayodhya and fostering regional business and economic growth.  

The Ayodhya Mandir has led to a notable spike in online reservations and a corresponding increase in hotel rates. 

Worldwide Recognition 

There is a lot of joy and celebration of Ram Janmabhoomi, not only within the nation but also globally, as the celebrations pick up stream in many other countries. The event will be streamed live from Times Square in New York City, further cementing the Ayodhya Ram Mandir’s reputation as a global supplier of spiritual and cultural icons. The Hindu-American community in Chicago, Houston, and other cities organized large-scale auto rallies.

Paris, the city of love, is joining in the festivities. The Indian community there is arranging a Rath Yatra, which will take place 24 hours before the consecration ceremony on January 21. There will be a cultural celebration and a through pooja arti.  

Donations to Ayodhya Ram Mandir
Donations from Hindu devotees have been overwhelmingly generous towards the construction of Ayodhya’s Ram Mandir. Over Rs 5,500 crore have been contributing toward the same and counting. 

Where is the Ayodhya Ram Mandir located? 

All means of transportation, including air, rail, and road, connect Ayodhya City to other regions of the nation. 

  • Through Air:
    • Ayodhya Dhami’s Maharishi Valmiki International Airport (17 km)
    • Ayodhya Ram Mandir to Gorakhpur Airport (139 km)
    • International Airport of Chaudhary Charan Singh, Lucknow (156 km)
  • By Train: India’s major cities are well-connected to the closest Ayodhya Junction. 
    • Ayodhya Junction (2.5 km)
    • Gorakhpur Junction (113 km) 
    • Lucknow railway Junction (144 km) 
  • By Road: Ram Mandir station is reachable by several state-run and private buses, taxis, and private automobiles. Low-cost bus services are another way to get to the Ayodhya Ram Mandir from surrounding towns and other parts of the country. 

Ram Mandir: The Assured!

Anticipation is high as the day of Lord Ram’s “Pran Pratistha” ceremony on January 11 approaches. Hindu devotees are rushing across the globe, counting the weeks and preparing for this special day. The dream is finally coming true after years of longing. The passionate followers of Lord Ram, bound by faith and devotion, are celebrating and anticipating their god’s return home with great anticipation.  The nation will undergo a paradigm change at this time, fortifying ties and ushering in a progressive future where tradition and modernity coexist peacefully. 

The top 5 most important questions to ask your builder when buying a property that is still under construction.

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While making a real estate investment, buyers frequently need help to choose between an under-construction and ready-to-move-in project. Though both are available, people frequently hesitate to invest in under-construction properties because of the lengthy construction periods. Before investing your hard-earned money in a property still under construction, find the answers to the five crucial questions you should have asked the builder by reading on. 

Under-construction properties are highly appealing to investors and end users due to their relatively lower prices when compared to ready-to-move-in units. Purchasing an under-construction unit can also allow you to select the preferred Vastu direction of the unit, the flooring, and, in certain situations, the floor. An under-construction property does, however, come with some drawbacks. Although Godrej Properties Limited, a Grade A developer, completes projects on time, the nation’s real estate market is chock-full of postponed under-construction projects. With that in mind, this piece aims to equip purchasers with a few essential inquiries to ask if purchasing a property that is still under construction. 

Industry experts feel that as long as due diligence occurs, buyers should not let the risk associated with any investment prevent them from purchasing an under-construction property. Furthermore, buyers now find it easier to select reliable developers and projects thanks to the Real Estate (Regulation and Development) Act (RERA) 2016. Customers feel more confident about purchasing real estate now that the RERA has emerged. From the project’s current phase to the permissions obtained or pending by the developer, every detail about the project is available on each state’s RERA website. The innovative legislation’s penalty provisions protect purchasers from construction delays and subpar work. 

To what extent has your project gained recognition since its inception? 

There are effects between a real estate project and its surrounding area. For this reason, choosing whether to invest in an appreciating or depreciating project is essential. It also applies to the project’s surrounding area. To put it in perspective, the homebuying values of Godrej Hillside, an unfinished residential project in Mahalunge, Pune, have increased by more than 50% during the past three years. Over the same period, Mahalunge’s real estate prices have increased by more than 20%. Godrej Hillside anticipates raising prices to complete several units beginning in October 2024. Investing in such a project yields a positive Return on Investment (ROI) for the buyer. You have to ask the builder this kind of question to ascertain the performance of your investment. 

How many units in the project have sold out? 

Even though a builder is more likely to provide an exaggerated response, it is still crucial to ask this question. The investigation is necessary since sluggish sales could indicate issues with the specific project. Asking the builder how many inquiries they receive in a week or month can also help you gain a better understanding. A reasonable exception for the conversion should be one or two percent of the quoted amount. Real estate experts caution against adopting a herd mentality when making investments. It is advisable to carefully examine the project, investigate the neighborhood, verify the project’s RERA registration status, and get a sense of the builder’s popularity by speaking with previous purchasers. 

What is the total number of units sold in the project? 

Even though a builder is more likely to provide an exaggerated response, it is still crucial to ask this question. Investigating sluggish sales is essential as it could indicate issues with the specific project. Asking the builder how many inquiries they receive in a week or month can also help you gain a better understanding. A reasonable expectation for the conversion should be one or two percent of the quoted amount. Nevertheless, you should not copy a project because other buyers flock to it. Real estate experts caution against adopting a herd mentality when making investments. 

It is advisable to carefully examine the project, investigate the neighborhood, verify the project’s RERA registration status, and get a sense of the builder’s popularity by speaking with previous purchasers. 

Can you tell us more about your prior projects? 

Verifying a builder’s history is extremely important. If the builder has completed projects on time and with structural integrity, you can expect the pattern to continue. Developers like Godrej Properties can build a solid reputation by meeting the needs of their customers with well-executed projects on schedule. 

Which commercial rights in the project will you keep? 

Developers typically maintain a commercial stake in a project long after it ends and ownership passes on. When buyers learn that the builder has kept some rights, like the clubhouse, and has only shared membership with them, they frequently feel duped and let down. It is best to talk about this with the builder and get it included in the agreement before you sign on the dotted line. 

Even though investing in a project still under construction may seem intimidating, there are benefits, such as being somewhat more affordable initially, offering better returns over time, and offering more customization options. However, it is advisable to invest in a project accredited with the RERA, use a property portal, and consider any future developments in the neighborhood before finalizing the deal–as with any real estate transaction. However, it is advisable to invest in a project accredited with the RERA, use a property portal, and consider any future developments in the neighborhood before finalizing the deal –as with any real estate transaction. 

Sotheby’s International Realty report shows that India’s wealthy are considering real estate investments

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High-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) showed substantial economic optimism in the India Sotheby’s International Realty (ISIR) annual Luxury Outlook Survey 2024, with a staggering 79% expressing confidence in the country’s positive trajectory for 2023-24, up from 59% the previous year. 

This positive outlook also applies to the real estate industry. 71% of respondents stated they intended to purchase real estate in the next 12 to 24 months, demonstrating strong confidence in the market despite a nearly 40% increase in property prices over the previous 24 months and an increase in mortgage rates. 

The main reason for real estate investment (44%), capital appreciation, has surpassed lifestyle upgrades. It indicates that investors are returning to the market with an emphasis on long-term appreciation. 

India is more confident than ever in directing its destiny. The International Monetary Fund projects that by 2027, the fifth-largest economy in the world will rise to the third rank. The country’s central bank, the RBI, forecasts 7% GDP growth in 2024. An all-time high in the stock market and record-breaking home sales in Indian real estate in 2023 are indicators of the growing economic momentum. The top end of the real estate market will benefit the most over the next 12 to 24 months. Goldman Sachs Group Inc. projects that the number of people in the affluent class will almost double to 100 million over the next three years. India’s ultrawealthy are growing. The ranks of the ultra-rich have continued to rise due to the strength of strat-up ecosystems and the increasing number of unicorns. Amit Goyal, MD of India Sotheby’s International Realty. “Our Luxury Outlook survey results show a renewed and heightened interest among investors who now view real estate as a compelling avenue for long-term wealth creation.”  

“The resilience and potential of the Indian economy are reflected in the remarkable shift in economic sentiment we are witnessing. The significant rise in fresh luxury project launches in the top seven cities in 2023 is unsurprising. Additionally, attitudes are changing consistent with real estate’s enduring value and potential for long-term financial growth. “We think investors are strategically positioning themselves for wealth accumulation and creating multi-generational wealth through real estate investments,” says India’s Sotheby’s International Realty CEO Ashwin Chaddha. 

Regarding home loan interest rates, the Reserve Bank of India (RBI) plans to begin lowering rates in 2024, according to 56% of HNIs and UHNIs, indicating a promising future for mortgages and financing. 

A startling 83% of wealthy Indians, according to the survey, own several luxury homes, indicating a trend of diversified real estate portfolios among the affluent. 

In addition to their primary residences, 34% of respondents showed off their commercial real estate, 25% their vacation homes, 21% their agricultural land, and 20% their farmhouses. 

Other noteworthy results showed that Goa was the preferred destination for 35% of holiday home buyers, indicating the long-lasting appeal of Goa’s lifestyle to Inia’s affluent. The desire to purchase real estate abroad stayed steady at 12%, with the USA and Dubai, United Arab Emirates, continuing to be the top destinations. 

A desire to consolidate their portfolios and concentrate on higher-quality properties and assets that generate income was indicated by 43% of UHNI and HNI respondents.  To research and view properties, 34% of UHNIs and HNIs have switched to using digital tools, such as walkthroughs and 3-D virtual reality, highlighting the impact of digital transformation even at the top of the luxury housing market. 

A beginner’s comparison between investing in Indian real estate and the stock market

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Purchasing financial instruments has been a method for people to increase their wealth. The stock market and real estate are India’s two main investment options. Each has advantages and disadvantages of their own. Let us compare investing in real estate and the stock market for beginners in India in this article, considering key elements like growth potential, taxation, liquidation, flexibility, emotional connection, control, and return on investment (ROI). 

Return on Investment (ROI)

Real estate: 

Investing in real estate frequently offers a steady, growing return over time. Growth in property values and rental income affects the overall return on investment. Nevertheless, the return might be slower in contrast to other investment options. 

For instance, investing in a residential property in an expanding area may result in rental income and future value growth.  

Stock market: 

A more rapid return on investment is possible by investing in the stock market, which also offers dividends and capital gains. However, unpredictability of volatility can also result in a decline in investment. 

Example: Investing in reputable businesses with a record of paying dividends can increase stock value and provide income. 

Prospects: If investments happen at the right moment, the stock market could yield faster and possibly higher returns, but market trends are unpredictable. Real estate is a long-term wealth-building option because it provides stability and tangible assets. 

Ease of liquidation

Real estate: 

There is more liquidity in stocks than in real estate. Stocks are more liquid than real estate. A house may take a while to sell, and there may be legal complications. The state of the market may take a while to sell, and there may be legal complications. 

The state of the market may also affect how long it takes to find a buyer. However, if you have invested in a suitable property, the market slowdown might not affect it. 

Example: Outside variables like market demand and economic conditions can affect how quickly you sell your real estate investment if you need to liquidate it. 

Stock market: 

Due to their high liquidity, stocks enable investors to buy or sell shares quickly. Online trading platforms also facilitate quick transaction execution.  

Example: Selling stocks is a way to offer liquidity during a financial emergency. 

Prospects for the Future: Stocks are a good option for investors who value quick access to their money because of their superior liquidity. 

Taxation : 

Real estate:

Several taxes, such as capital gains tax, registration fees, and stamp duty, apply to real estate transactions. Although there are deductions for rental income, rental income itself is taxable. 

For instance, if a property sells after being owned for two years, long-term capital gains tax currently at 20% with indexation may be applicable. 

Stock market: 

The taxation of stock market gains varies depending on how long they remain invested. The tax rate on short-term gains (held for less than a year) is higher than that on long-term gains. 

For instance, short-term capital gains from equity investments are subject to 15% tax, whereas long-term capital gains are tax-free up to a certain amount. 

Prospects: There will be significant tax ramifications, and real estate and the stock market are complex. Investors should consider their tax liability based on their investment horizon.   

Flexibility:

Real estate: 

Compared to stocks, real estate investments are typically less flexible. It takes time and work to sell a property, and diversification can be difficult for smaller investors. 

In the real estate industry, for instance, managing several properties or modifying investment strategies might necessitate more work. 

Stock market: 

Investing in the stock market offers low entry barriers and great flexibility. Investing in mutual funds or buying and selling various stocks allows investors to quickly diversify their portfolios. 

As an illustration, an investor can quickly reallocate their portfolio in response to shifts in the market or their goals for their investments. 

Prospects for the future: The stock market offers more flexibility, enabling investors to better manage their portfolios and adjust to shifting market conditions. 

Emotional connect: 

Real estate: 

Investing in tral estate frequently involves tangible assets like residential or commercial buildings, which evoke strong emotions. Making decisions may be influenced by this emotional connection. 

Example: Even though it might be financially wise, an investor may be find it difficult to sell a family home or vacation property due to sentimental value. 

Stock market: 

Investing in the stock market can be less emotional and more abstract than owning physical assets. Market trends and financial analysis are often the driving forces behind decisions. 

Example: Performance metrics, not sentimental attachments, are usually the basis for stock selling decisions. 

Prospects for the future: Depending on the objectives and circumstances of the investor, the emotional attachment to real estate can be either an asset or a liability. 

Control: 

 Real estate: 

Investors in real etate have more direct control over their holdings. They are capable of making decisions about maintenance, renovations, and property enhancements. 

Example: A real estate investor may choose to upgrade a property in order to increase its value and rental potential. 

Stock market: 

Stock market investors have little control over the management and business practices of the companies in which they invest. Because corporate management and market forces have a significant influence on decisions, there is very little that you can do about it. 

Example: The company’s executives run things on a daily basis, but at annual meetings, share holders have the opportunity to vote on certain issues. 

Future prospects: Because real estate allows for more hands-on control, it may appeal to investors seeking for a tangible, actively managed asset. 

Factor of risk relative to the asset: 

Real estate:

In general, real estate is thought to be a less risky investment than the stock market. Long-term property values are typically more stable, and the tangible aspect of an asset lands security. 

Example: The risk of large losses can be reduced in a growing economy by the steady appreciation of real estate values. 

The stock market: 

Because of this inherent risk, investing in stocks is riskier. Stock prices can be impacted by a number of variables, such as world events, industry trends, and economic conditions. 

Example: A sharp drop in stock prices may be caused by external factors like a global economic  downturn.  

Future Prospects: For investors who are risk averse, real estate presents a more stable investment environment. The possibility of greater returns in the stock market is accompain by greater risk, though. 

Potential for growth: 

Real estate: 

Investing in real estate offers the possibility of capital growth and rental income. Well-located properties can see significant value appreciation as demand is driven by urbanization and population growth. 

Example: As infrastructure develops and demand rises, real estate investments in developing areas can result in significant growth. 

Stock market:

The stock market has the potential to expand significantly and quickly, particularly in developing industries or when there are strong individual stocks. 

As an illustration, investing in technology stocks during a time of industry innovation and expansion can result in a sizable increase in portfolio value.

Prospects for the future: Growth is possible in both the stock market and real estate, but the stock market might yield larger return faster. 

When contrasting real estate and stock market investments in India, each path has particular benefits and drawbacks. An investor’s preferences, risk tolerance, and financial goals will determine which option is best for them. While the stock market offers flexibility and liquidity, real estate offers stability, emotional connection, and control. To capitalize on these advantages and reduce risks, a well-balanced investment portfolio may include a combination of stocks and real estate. For wealth management to be successful in India, it will be essential to stay informed and adjust tactics as market conditions and investor preferences change. 

Do you invest in real estate? Check this out

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Over $5.8 billion in institutional investments were made in 53 deals in the real estate sector in 2023, a 14% increase from 2022. Demonstrating India’s resilience in the face of global economic headwinds. Investor confidence in the Indian growth story is expected to persist through 2024, according to JJL India report titled “Investing in Tomorrow: The Real Estate Journey of 2023.” 

With a 63% stake in the total investments in 2023, foreign institutional investors made up the most contributors. The Americans, historically the most to investments, saw a sharp decline to 23% of total investments from a peak of 43% in 2022. 

Nonetheless, domestic investors saw a sharp rise in market share, with 37% of all investments made, up from an average of 19% over the preceding five years. 

With 81% of all real estate investments made, equity remained the predominant type of investment. Non-core assets make up 53% of all transaction volumes. 

According to the report, the office sector will continue to be the most favored industry in 2024. 

With a 52% share of the investment pie, the office sector by a wide margin. Residential and warehousing came in second and third, respectively, at 13% and 16%. The amount of capital flowing into the office sector increased by 61% in 2023, from $1.8 billion in 2022 to $3 billion in 15 deals.  

Emerging industries to draw capital 

In the upcoming years, many institutional investments will go toward emerging industries like student housing, data centers, and warehousing. Institutional investors in India have been paying more attention to student housing as an asset class. There is a big chance for institutional investment in this space because of the rising number of students going to college and the rising need for high-quality housing. 

Institutional investments in India in 2023 appeared unaffected by inflation or unclear global economic trends. The trend of investments surpassing $5 billion has persisted since 2018. The US and Canada’s investment activity has decreased due to various rate increases in the Americas. Nonetheless, the APAC area made a sizable contribution in 2023. The outlook for the Indian economy is still favorable, and we anticipate this positive trend will last into CY 2024, according to Lata Pillai, senior managing director and head of capital markets at JLL India. 

Pillai continued, “The India growth story will continue to be robust, driven by its inherent strengths and continued focus on economic development, even though the upcoming elections may cause delays in decision-making.”

Platform Assertions 

Furthermore, $2.8 billion in platform commitments to invest over the following few years was made public in 2023. Platform commitments decreased significantly (by 38%) from 2022, the year with the most growth in platform deals—a 174% rise from 2021. 

The global economic slowdown has impacted investor sentiment toward long-term commitments despite increasing investments. With an investment capacity of more than $1.8 billion, Ivanhoe Cambridge and Mapletree struck the largest platform commitment deal in the history of technology-led offices in India last year.  

Exploiting public market opportunities with REITs. 

Real estate businesses and investors now have more ways to access public markets in India thanks to the introduction of REITs, which provide regulated investment structures and liquidity. 

The first retail Real Estate Investment Trust (REIT) in India, Nexu Select Trut REIT, was listed in 2023. Anchor investors responded favorably to the IPO, absorbing 45% of its total size. 

The last two REITs, Brookfield REIT and Nexus Select Trust REIT saw a rise in participation from domestic institutional investors, indicating a growing level of interest and confidence in the Indian REIT market. In 2023, Blackstone sold its 23.5% stake in Embassy Office Parks REIT for $850 million, or Rs 316 per unit, and left the REIT. 

Bain Capital, ICICI Prudential MF, and Capital Group were the top three purchasers, acquiring stakes ranging from 7 to 9%. The robust reaction from institutional investors suggests that this real estate investment tool is becoming increasingly popular and that real estate is beginning to institutionalize. 

2024

The nation’s growth trajectory has generally benefited from the government’s efforts to advance infrastructure development and bring structural reforms. Experts in the market believe that this growth will continue and that investors will continue to feel optimistic about India’s growth story. 

Shortly, the outlook for private equity investment in the Indian real estate market is anticipated to remain positive, having recently improved.  

However, it will be crucial to closely monitor the trends in capital flows going forward into 2024. The capital flow slowdown observed in the fourth quarter suggests the potential cautious approach investors, especially those with foreign experience, may take in 2024. 

Investors may become more risk-averse and careful when making real estate investments due to long-term uncertainty and monetary tightening in developed countries. The upcoming elections may cause delays in decision-making, but overall market sentiment remains positive. 

Artificial Intelligence’s effects on real estate

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The application of intelligent technology that can complete tasks with little assistance from humans is the focus of the multidisciplinary field of artificial intelligence (AI). AI has always had the potential to transform businesses, societies, and industries. Recent developments have propelled AI from a niche field of study to the forefront of widespread use. The ability of AI to write, draw, code, and compose, among other tasks, has led business executives to carefully consider the advantages and disadvantages of AI for their organization.  

It is clear that strategically embracing AI could result in revolutionary changes in the commercial real estate industry. It is according to investors, developers, and corporate occupiers. AI and generative AI are among the top three technologies that will most likely have the most impact on real estate over the next three years, according to JLL’s 2023 Global Real Estate Technology Survey. Regarding the precise ramifications of AI for the sector, there is still uncertainty, though. Respondents displayed the lowest understanding of AI and generative AI compared to other surveyed technologies such as blockchain, virtual reality, and robotics. Artificial Intelligence (AI) has applications in commercial real estate, such as predictive analysis for market analysis, intelligent property search and recommendation, property management and maintenance, and improved marketing and advertising. Leaders in the real estate sector are aware of the impending changes and are actively investigating ways to capitalize on AI’s revolutionary potential despite the uncertainty surrounding it. 

The use of AI in the real estate industry represents a dramatic change in the purchasing, managing, and real estate. Real estate professionals are aware of the benefits and opportunities presented by AI technologies, but they also recognize the importance of using data to drive profitable outcomes. By using machine learning techniques to exact valuable insights from data patterns, artificial intelligence (AI) tools enable better-informed decision-making. Artificial intelligence has many uses in the real estate industry, such as investment analytics, process optimization, and improving client experiences. Artificial intelligence has many uses in the real estate industry, such as investment analytics, process optimization, and improving client experiences. Brokerages optimize their listings, and machine learning helps agents handle customer inquiries more quickly and effectively. We will see benefits such as enhanced lead generation, data collection, and sales process optimization. By employing AI to collect information on customer preferences, behavior, and feedback, agents and brokers can improve their marketing and customer service strategies and make more informed decisions. AI-powered automated valuation models compete with traditional appraisers, and mortgage lenders utilize AI for risk assessment calculations. Developers rely on AI platforms for predictive analytics, which provide location recommendations based on local zoning laws, market trends, pricing, and demand to help them make better decisions.  

By concluding the massive amount of real estate data available, artificial intelligence (AI) enables professionals in the real estate sector to make well-informed decisions. Artificial intelligence (AI) algorithms offer insightful analyses of past sales data, market trends, and other vital variables. These analyses help to create data-driven approaches ranging from spotting possible investment opportunities to setting competitive property prices. 

By utilizing data, artificial intelligence (AI) in real estate creates opportunities for increased efficiency, better customer support, and more informed decision-making. As this technology advances, the real estate industry can anticipate a plethora of growth prospects and a means of potentially revolutionizing the industry as a whole. 

Will the Mumbai-Trans Harbour Link increase the cost of real estate in Navi Mumbai?

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While some real estate analysts think the MTHL project will raise prices, others believe they will stay low as more becomes available. 

Prime Minister Narendra Modi opened the 21.8-kilometer Mumbai Trans Harbour Link on January 12. The goal of the sea link is to reduce the several-hour travel time between Mumbai and Navi Mumbai to 15 to 20 minutes. Additionally, it should shorten travel times to major cities like Pune and Gia. Given that it is the location of a mega port and an upcoming international airport in Navi Mumbai, it may also promote economic growth in the area. 

As with most new infrastructure projects, the question that needs answering is whether this will change the course of Navi Mumbai’s real estate market and drive up property prices. It’s worth noting that the 11-kilometer Navi Mumbai Metro Line 1, which runs between Belapur and Pendhar, began operating in November of last year and has contributed to an increase in real estate prices in nearby markets like Kharghar, Belapur, and Taloja. 

While some real estate experts believe that new infrastructure projects in Navi Mumbai will cause prices to rise by 10-15% over the next two to three years, others believe the cost will remain low because more land will become available along the MTHL corridor. An increased demand for upscale real estate in Alibaug could result from improved connection. 

Starting in Sewri, South Mumbai, MTHL goes north across the Thane Creek of Elephant Island and ends in Chirle village in Navi Mumbai, close to Nhava Sheva. The goal of the MTHL is to reduce the two-hour travel time from South Mumbai to Ulwe to just twenty minutes. Dronagiri, Ulwe, and Panvel are the other areas expected to gain from the direct connection. 

The infrastructure development will improve accessibility throughout MMR, generating affordable opportunities in several developing residential hubs, according to global real estate consultancy Colliers. New residential communities, such as Panvel, Ulwe, and Kharghar, are expected to be developed because it’s this close to Navi Mumbai’s edge. 

Panvel: Remember that Panvel is 20 minutes from the under-construction Navi Mumbai International Airport, and the MTHL project is only 15 to 20 minutes away. Affordable housing is the main focus of this market. According to local brokers, the price of an apartment with two or three bedrooms in Panvel can range from Rs 8,000 to RS 15,000 per square foot. 

Ulwe lies in Mumbai’s Navi. This place can set you back a crore for 2 BHK. They claim the prices were between Rs 25 and Rs 30 lakh approximately eight years ago. Right now, Dronagiri fetches between Rs 5,500 and 6,000 per square foot. 

The Ulwe end of the sea link is expected to see the development of a “Third Mumbai,” according to discussions. The Mumbai Metropolitan Regional Development Authority (MMRDA) is responsible for developing this. Part of its mandate is to create a second business hub like the Bandra-Kurla Complex on a 150-hectare plot at Kharghar in Navi Mumbai. The Third Mumbai project includes the towns of Ulwe, Pen, Panvel, Karjat, and Alibaug in the Raigad district. 

Ulwe and Panvel are and will continue to be the beneficiaries of the MTHL project in Navi Mumbai, according to data supplied by Anarock. Not only that, but the two areas are already benefiting from the concurrent construction of the international airport and MTHL, and they will continue to do so. The areas of Seawood and Kharghar have also benefited. 

As of Q3 2023, the average price of real estate in Navi Mumbai was over Rs 8,300 per square foot, according to ANAROCK Research. With an average price of Rs6,650 per square foot in Q3 2015, real estate prices had increased by over 25%.  In the next 2-3 years, the city will see average prices between 10-15% due to various infrastructure projects that will improve connectivity with mainland Mumbai and MMR. 

Will the value of real estate increase? 

The senior executive director of Knight Frank India, Gulam Zia, has an alternative viewpoint. 

“Most of the real estate in these areas has already expanded and changed. The juice has already been squeezed out of it financially. Prices in Ulwe started at Rs 2000 nearly ten years ago, and before the link went into service, he said, they reached Rs 5000 per square foot. 

“We expect a consistent price increase of 7 to 10 percent in all areas that fall under this corridor,” he said. 

Could control the price of real estate 

Prime Minister Narendra Modi officially opened the 17-kilometer priority section of the Regional Rapid Transit System (RRTS) train, also known as RAPIDX, a few months ago. The country’s first mass rapid transit system dedicated to regional connectivity. Between the stations of Shaibabad and Dubai Depot was this. The 82.15 km connector between Delhi and Meerut is projected to reduce the travel time to just under an hour. 

Bangalore’s top 5 weekend getaway locations

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Bangalore has been a significant metropolis for many decades. People’s interest in weekend homes in the surrounding suburbs as their desire to own a home grows. Look into the ones that aspirational homebuyers have given the most significance. 

The Bangalore-Chennai Expressway, the Bangalore Peripheral Ring Road, and the partially opened Bangalore-Mysore Road are just a few of the connectivity improvements that have taken place. These developments in connectivity are opening up new areas of the city and creating opportunities for once-offbeat locations to become popular vacation spots. 

Better infrastructure, including internal roads, flyovers, highways, streetlights, and water supply, has also been ensured by new outlying areas within the boundaries of Bruhat Bengaluru Mahanagara Palike (BBMP). Due to this, investing in real estate in the outside of town is now more feasible than before. The city’s steadily rising real estate costs are another factor at work, which drives prospective homeowners to the outskirts where larger homes are available at more affordable costs. 

The fact that buying a vacation house outside of a city is thought to be a lucrative way to increase one’s investment portfolio is not surprising. Look at the top five-weekend getaway spots in and around Bangalore. 

Mysore

One of the most popular weekend getaway locations near Bangalore is Mysore. Aspiring homeowners favor this town, about 160 km from the city center via NH-948. The Bengaluru-Mysuru Expressway, currently under construction, has improved connectivity between the two cities. In addition, the availability of public facilities like markets, hospitals, and schools makes Mysore an ideal choice for weekend residences close to Bangalore. 

Homegrown developers, such as Sankalp Group, Brigade Group, Damdan, and Pathak Developers, offer land parcels, villas, apartments, and builder floors in different parts of Mysore. Remarkably, average land prices in a few localities—JSS Layout, Hebbal, and Najangud Belavadi—have risen 30 to 35 percent in the last few years. 

In Mysore, 1,200 square feet of residential land typically cost Rs 30 lakh. A 4-bedroom villa with 1,700 square feet of space starts at Rs 75 lakh. 

Mangalore 

Karnataka’s favorite weekend getaway destination is Mangalore, about 350 kilometers from Bangalore. Mangalore offers beach homes, flats, residential plots, and more; it is accessible via the NH-75 and short aviation trips. This growing city in Karnataka has many social facilities, including schools, hospitals, markets, well-trafficked internal roads, properly installed sewage lines, and more. The city is home to several local builders, such as Mohtisham Complexes, Raheja Universal, and Northern Sky Properties, who provide residential land, apartments, and villas. The real estate market in Mangalore has been growing recently, partly due to well-built roads that facilitate intercity travel and overpasses and underpasses close to the airport. 

Ooty

For those who want to invest in real estate and become homeowners, Ooty is a popular weekend getaway location close to Bangalore. Situated approximately 375 km farther from Bangalore and reachable through NH-44, Ooty is roughly 85 km far from Coimbatore and offers flight connectivity to the city through NH-181. Because Ooty is a developing city, it has a good road network, markets, malls, schools, and hospitals. Future initiatives, such as the flyover on the Mettupalayam-Ooty National Highway, are anticipated to improve traffic from Coimbatore to Ooty, Mysore, Coonoor, and Mettupalayam. 

Pondicherry 

One of the most relaxed travel destinations is Pondicherry, with its serene surroundings and stunning view. Due to its popularity, it is an ideal weekend home destination near Bangalore. Pondicherry, which is about 350 km away from Bangalore and accessible by NH-48 and an hour’s flight, offers residential lots and apartments for real estate investors. The city provides numerous social amenities, and its well-designed road network makes getting around the city easy.

Thanks to several proposed and upcoming projects, such as the flyover between Indira Gandhi and Rajiv Gandhi Squares, the grade separator, and East Coast Road between Mahabalipuram and Puducherry, the real estate market in Pondicherry has been moving upwards. 

Kannur 

Mysore Road and Thalassery-Mysore Road will take you to Kannur, which is about 300 km away from Bangalore and a well-liked weekend destination for Bangalore residents. Connected to the airport, Kannur is a relaxed city with all the social amenities close by, including markets, entertainment venues, hospitals, and schools. The airport lies approximately 25 km from the city center. 

Though Kannur is a small town mainly visited mostly visited by tourists. NH-66 provides good access to neighboring cities and a well-developed road network. Programs for government subsidies are also promoting the growth of the region and drawing in more homeowners. 

There are several developers in the city that have residential projects: Sreerosh Developers, Rainbow Developers, and Asset Homes. The most in-demand areas for housing are Payambalam and Kuthuparamba. 

Mangalore Property Tax: All-Inclusive Guide

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The Mangalore City Corporation (MCC) has raised the rates of property taxes in Mangalore for both residential and vacant land plots. There have been many complaints to the authorities about the increased tax rates on undeveloped land and plots. If you own a home in Mangalore, read this article for the most recent information on property taxes, deadlines, and rebates. 

Property taxes are one of the sources of revenue for the Mangalore City Corporation (MCC). These revenues support infrastructure growth and also the efficient operation of public facilities. These revenues support infrastructure growth and also the efficient operation of public facilities.  The unit area system serves to calculate taxes for homes in Mangalore. 

The MCC has recently written to the Karnataka government requesting a reduction in the tax increases for vacant plots under the Self-assessment Scheme (SAS). There was opposition to the government’s decision to impose a 0.2-0.5 percent tax on vacant land. It is because the Mangalore property tax regime has a determined effect on low-income families, who own over 50% of the undeveloped land outside of the city. 

You can review the previous revisions to the property tax for residential and commercial properties made by the state authorities below: 

Mangalore’s MCC property tax rate in 2024 

The Mangalore property tax is set for each property type by the Mangalore City Corporation (MCC). The properties fall into three categories: non-residential or non-commercial use, commercial, and residential. The corporation reports that property taxes range from 0.20 to 1.50 percent. 

Type of Property Mangalore property tax rate 
10A residential use 0.50 percent 
10B commercial use 1.50 percent 
10C non-residential/commercial use 1 percent 

How can I pay my property tax online in Mangalore? 

The steps that follow are available to pay the property tax in Mangalore online:

Step 1: Go to MCC’s official website. 

Step 2: Click the “Pay Property Tax” link on the home screen. 

Step 3: Enter your registered mobile number and submit the OTP in the corresponding field. 

Step 4: Select the door and ward numbers at this point, then look for the property. Select “Pay Tax” to proceed to the following page. 

Step 5: To find out the applicable tax value for the current fiscal year, applicants can utilize the calculate tax button. 

Step 6: Select “Yes” or “No” to indicate whether the property has changed. 

Step 7: Examine the comprehensive summary of the SAS to comprehend the property details and the estimated tax amount. 

Step 8: Choose the method of payment from the available options. After making the last payment, download the challan for your records. 

What is the deadline for Mangalore’s property taxes?

The final week of April 2024 is when the Mangalore property tax is due online.

What is Mangalore’s property tax rebate? 

According to the most recent order, a 5 percent rebate is available to anyone who pays their Mangalore property tax online before the deadline or in advance. The rebate will be equivalent to the property’s entire value. 

Mangalore property tax calculator 

The online calculator on the official website calculates the total tax on a property in Mangalore. These steps can help streamline the Mangalore property tax calculation process. 

Step 1: Go to the MCC official website at https://www.mccpropertytax.in/WebPortal/ 

Step 2: Select the ‘Pay Property Tax’ link from the home screen. 

Step 3: Enter and send in the mobile number you registered. 

Step 4: Look over the details of your property and click the “Calculate Tax” button. 

Step 5: At this point, provide information on the homepage, including your mobile number, email address, property ID, select village, street name or number, Katha number, survey RS number or survey TS number, locality or company name, and pincode. 

Step 6: Choose the rented or self-used property and press “Yes” or “No.”

Step 7: Select the property type and then the category type. 

Step 8: Enter the plinth factor, total build-up factor, area of land occupied in square feet, and site area in cents. 

Step 9: Select the type of property, door number, slum status, and status of exempt property. 

Step 10: To calculate property tax, add the floor details, construction type, market value, and year of construction. 

Mangalore property taxes are due in advance. 

In Mangalore, paying property taxes in advance allows one to do so before the annual deadline. A five percent rebate on the total value is the primary benefit of paying tax in advance. Current regulations also state that individuals who pay advance tax after the tax rate is revised will have their payments adjusted in the following fiscal year. 

How to amend your name on your Mangalore property tax 

The procedure for renaming the asset may begin by submitting several documents. The supporting documentation includes a copy of the associated housing society’s No-Objection Certificate (NOC), the most recent property tax receipt, and an attested copy of the sale deed. After submitting the request, the officials will review the supporting documentation and grant approval within 15 to 30 days. 

How can I get a receipt for my property taxes paid?  

Residents of Mangalore can download their property tax receipts from the official website. 

Step 1: Go to https://www.mccpropertytax.in/WebPortal/, the official MCC website. 

Step 2: Select the ‘Pay Property Tax’ option from the homepage. 

Step 3: After posting this, type in your registered cell phone number and send it in. 

Step 4: Click the search button after entering your door and ward number. 

Step 5: Print the property tax payment receipt for your records at the end. 

The most recent information and news regarding Mangalore’s house tax 

  • The guidance value of immovable property is to increase by thirty percent, per an order from the Karnataka government. This rate is subject to annual revisions in the Property tax in Mangalore.    
  • Upon adding 30,000 properties to the tax net, Mangalore City Corporation will have a total of 2.13 lakh properties to tax.   
  • MCC will levy taxes on vacant land in March 2023 equal to 0.3 to 0.5 percent of the total land value by the state government’s revisions to the property rates in Mangalore, which had been set at 0.5 to 1.5 % of taxable capital.  

In conclusion, timely property tax payments in Mangalore contribute to the upkeep of a spotless record in the official records. Property taxes can be paid online or at the physical municipal centers that have been designated as such. Taxpayers’ overall burden is lessened by obtaining rebates and discounts when they pay their taxes ahead of schedule. 

Why do homebuyers favor low-rise buildings over high-rises?

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Homebuyer’s preference for low-rise properties has grown, indicating a shift away from the tall buildings that characterize urban landscapes. Living in one of these is usually more personal and focused on the community because the buildings are typically smaller in number. Low-rise housing provides a welcome diversion from congested, airless urban areas! This trend is here to stay!

For many years, high-rise projects have dominated the urban building typology; however, lately, this has quickly changed, with low-rises emerging as the preferred option. The urban building typology was dominated for a long time by high-rise projects, but in the last few years, low-rises have become the more popular choice. Low-rise housing arrangements have seen a significant resurgence since the COVID-19 pandemic due to the growing demand for large homes, a laid-back lifestyle, and community living. Developers are capitalizing on this trend at a rapid pace. Unquestionably, buyers remain attracted to amenities, but they also value privacy and a caring environment for their loved ones, two things that low-rise buildings provide.   

Let us examine in more detail the growing appeal of low-rise projects.

According to the Indian Building Code, low-rise housing technically refers to buildings up to 15 meters tall with ground plus four floors (G+4). In contrast to high-rise complexes, low-rise buildings house fewer people and have fewer towers. Low-rise buildings offer residents a more personal and community-focused living environment because of their smaller height and fewer residents. These often include extra-large living rooms, distinct entrances, and sometimes even private outdoor areas like patios and gardens. 

Low-rise developments are typically small-scale endeavors performed primarily by local or homegrown developers. Given the new circumstances, homebuyers have demonstrated a striking shift in preference for these projects, demonstrating that quality and renown are not the only factors. Low-rise projects are rapidly gaining favor because buyers are now more interested in the community living, amenities, and exclusivity that these projects offer. 

One developer based in Delhi NCR that has several noteworthy low-rise projects on the Golf Course Extension Road is the Nitara Group. The developer has several builder floor projects open in 3 BHK, 4 BHK, and 5 BHK configurations. With sizes ranging from 342 square yards to 1200 square yards, these residential projects have Simplex, Duplex, and Triplex builder floors. 

Within Sector 63A of Gurgaon is a noteworthy project of Nitara Homes called Nitara Projects Anantraj. With a carpet area of 1950 square feet, it offers 4 BHK apartments. The building has four levels, and each floor has four units. These residential units have a starting of Rs 3.25 crore.  

Growing popularity of low-rise housing 

While high-rise buildings have urban settings, luxury low-rise real estate is rising among Gurgaon buyers. Let us investigate the cause of this change. 

Security and Safety

The increased security and safety of low-rise housing is one of its main benefits. Because gated communities are less vulnerable to structural damage than tall high-rises, they assure natural disasters like earthquakes. In high-rise buildings, elderly and young people may encounter difficulties navigating the staircase if elevators are malfunctioning or undergoing maintenance. This problem virtually vanishes because low-rise housing arrangements have limits to four stories. Low-rise developments also have far more controlled and thorough entry and exit security checks because fewer people reside there. 

In all of its housing projects, Nitara Group provides features like seismic zone IV-complaint structures and three five-tier security systems to allay residents’ fears about their safety. 

Elevators may become stuck, people may fall from great heights, etc. Low-rise housing is the best choice in these situations because it allows them to remain close to the ground without making them feel uneasy or afraid. 

Greater value at resale

Low-rise buildings frequently have higher resale values than high-rises. Low-rise living offers privacy and exclusivity, which appeals to buyers and makes these properties more desirable in the resale market. These homes’ ongoing needs contribute to their increasing value over time.

Reduced upkeep expenses  

Since low-rise housing is more energy efficient, it also has lower maintenance costs, which is another factor that works in its favor. Against high-rises, which create extreme weather conditions that need constant maintenance, like air-conditioning and higher electricity usage, low-rises ensure a balanced temperature and less energy consumption. Also, other maintenance costs are typically easier to handle in a building with fewer floors and a smaller footprint. Homebuyers who want to benefit from homeownership while reducing long-term costs will find this appealing. 

Natural views and housing with low-density 

Compared to high-rise structures, low-rise developments provide a low-density living environment where residents have more space and fewer neighbors. It produces a calm and serene atmosphere that appeals to people who prefer a more sedate way of life away from the bustle of busy skyscrapers. 

Additionally, these arrangements offer greater exposure to nature than high-rise communities, where many towering buildings obstruct the views of the outdoors. Although low-rises have existed for ages, buyers are now taking notice of them due to the chaos of the city, the high pollution levels, and the health risks associated with COVID-19. It has forced them to settle in environmentally friendly properties.  

Large Room 

The abundance of large rooms is one of the benefits of living in a low-rise. Low-rise projects have comparatively larger spaces than high-rise projects, where rooms are typically ten by 10 with built-in amenities like wardrobes in many cases. Nitara homes, for example, have rooms that measure 13’3x 10’6” and 11’6 x 13’6”; However, they do not include large balconies that are 6’ broad. The lobby areas outside the apartments are large and spacious, with wide walking passages, because they have fewer units per floor.  

Specifically, residents benefit from larger living spaces, which make their homes feel more comfortable and accommodating on each floor. Those looking for space to live and unwind will find this feature appealing. 

Cohabitation in gated communities

Many low-rise housing projects, like Nitara Homes, prioritize community living within gated societies. These communities frequently have common areas, shared resources, and a feeling of community among the people living there. In addition to promoting social interactions and a sense of community, this creates a close-knit environment. 

Range of personalization 

One more advantage of low-rise homes is that they are adaptable. Real estate buyers can personalize their living spaces by putting in gardens or outdoor spaces. This level of personalization allows residents to tailor their homes to their preferences and way of life.  

Reduced strain on infrastructure

Because fewer people use the parks, elevators, lounges, clubhouses, swimming pools, and parking spaces, among other amenities, high rises to low rises put less strain on the infrastructure. An area’s population growth would inevitably result in more traffic and a burden on public services. 

In conclusion, the growing popularity of low-rise housing is a reflection of consumer’s shifting tastes. For those looking for a unique, more customized living experience, low-rise living is appealing because of its safety, security, large rooms, community living, lower maintenance costs, higher resale value, and customization options. 

The best places to buy a house in Greater Noida

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In the Delhi NCR, Greater Noida is a shining example of contemporary living. Greater Noida is still a thriving residential market because it offers an array of amenities, an abundance of homes for sale, reputable developers, and multiple IT hubs. The approval of Phase 2 of the New Noida project has also recently increased the desire among the surrounding Greater Noida region’s residents to purchase a home. Permit me to present the list of the top five Greater Noida neighborhoods. Jaypee Greens, Techzone 4, Sector-1, Sector 1 6 B, and Sector Chi 5 are a few of these. 

Greater Noida’s Jaypee Greens 

A posh neighborhood in Greater Noida called Jaypee Greens has many rental options. Jaypee Greens is strategically close to the Yamuna Expressway (5.8) and the Noida-greater Noida Expressway (4km), being next to the central market of Sector 27, Delta 1, and Alpha 2. The two developers in the area offering residential projects are Gaurs Group and Jaypee Group. 

In Jaypee Greens, the average cost of a home is approximately Rs 11,150 per square foot, and monthly rentals range from Rs 23,000 to Rs 1.4 lakh. The Jaypee Greens neighborhood would become even more livable when it gets a metro line from Knowledge Park 2 to the future Jewar Airport, reducing the travel time from 25 to 41 minutes. In addition, Knowledge Park 3 and Noida will gain from building a link road and six additional power substations. With home values in the area rising by more than 100% in the last three years and likely to rise further due to planned developments, investors considering investing in Greater Noida might want to take a closer look at Jaypee Greens. 

Greater Noida West, Sector 1

Greater Noida West’s Sector 1 is a posh neighborhood with plenty of pre-construction and ready-to-move-in residential apartments; the former is the most popular. Though the area is still popular, it is five kilometers from Knowledge Park V and Artha SEZ (Techzone-4). The proximity of the Taj Highway and the Faridabad-Noida-Ghaziabad (FNG) Expressway enhances the area’s allure for buyers and tenants. 

Sector 1, Greater Noida West, has an average property rate of approximately Rs 7,050 per square foot, following a startling 113 percent increase in the previous five years. The planned commercial complexes in the neighboring Techzone 4 will help improve the housing and rental trends in Sector 1 by creating additional job opportunities. The residential market here consists mainly of 2 and 3 BHK apartments, with monthly rentals ranging from Rs 10,000 to Rs 18,500. 

The people who live in Greater Noida, Sector 1, have rated this locality with an impressive 4.2 out of five stars. Four criteria determine the rating: environment, safety, lifestyle, and connectivity. While many locals praised the area’s accessibility, proximity to markets, and tranquil surroundings, poor parking management is still an issue.  

Tech Zone 4, West Greater Noida 

Techzone 4 is an independent neighborhood with an excess supply of 3-BHK apartments. Situated approximately 22 km from Knowledge Park 5, Techzone 4, one of the best locations in Greater Noida, is home to business hubs such as Artha SEZ and Airvil Intellicity. The eight-kilometer Taj Highway connects to NH-9, making traveling to different parts of Noida easy. 

Property purchase prices in Techzone 4, Greater Noida West, range from Rs 6,100 per sq. ft to Rs 40,000 per month, following a nearly 65 percent increase in the preceding five years. In the area, the number of ready-to-move-in homes is at capacity. ABA Corp, Gaurs Group, and JM Housing Builders are a few prominent developers that increase the area’s supply of homes. This area will become more livable with the proposed FNG Expressway and the expansion of the Noida Metro’s Aqua Line. While the expressway will facilitate better access to Faridabad, the metro extension will connect Techzone 4 to the renowned Ecotech.  

Greater Noida’s Sector 16 B

There are a variety of residential options in Sector 16 B. Almost half of the stock consists of apartments, with separate homes and developable plots. The most number of 2 BHK and 3 BHK layouts are available in this area, the prices per square foot averaging about Rs 5,570. Rentals and 2-BHK apartments remain the most popular; their monthly costs range from Rs 16,000 to Rs 26,000. SKA Greenarch, Anthem French Apartments, and Panchsheel Greens are a few of the neighborhood’s housing developments. 

Sector 16 B’s proximity to the Noida-Greater Noida Link Road, which links it to NE-03 and leads to Ghaziabad and Meerut, drives demand for housing in the area. It is also close to Techzone 4, which is the location of Artha SEZ, and it is only 12 km from Sectors 62 and 63 in Noida, which are commercial areas. B’s connectivity should improve further with the planned underpass at Gaur Chowk and the upcoming Aqua Line metro extension. 

Sector Chi 5, Greater Noida West 

An important micro market, Sector Chi 5 has an ample supply of high-end homes, especially 3 BHKs. Sector Chi 5 is located near the Yamuna Expressway and is less than five kilometers from the Noida-Greater Expressway. Sectors 135, 132, and 142 in Noida are the closest commercial hubs, at about 17 km, while Surajpur and Ecotech 2 & 3 industrial estates are around 15 km away. A new commercial complex in Sector Chi-Phi and the Film City near the Yamuna Expressway is likely to increase demand for housing and employment in the area. 

In Sector Chi 5, Greater Noida, the average cost of a property is approximately Rs 7,000 per square foot, and monthly rentals can range from Rs 11,000 to Rs 90,000. Purvanchal Royal City, Nimbus Express Park View 2, and Express Park View 1 are a few housing societies in Sector Chi 5. Sector Chi 5 received an acceptable four out of five stars by locals. A local tenant commenced the area’s lush green parks, quiet neighborhoods, and well-kept roads. Also, traveling here is a breeze due to metro connectivity. But markets are far away, and parking improperly is a big problem. 

Without a doubt, Greater Noida is a thriving center of compromising neighborhoods, each with benefits. Here are several residential investment options available to potential buyers. Before funding any project, in-depth market research is necessary to identify potential issues.

Would you rather live in the city or the suburbs?

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The needs and goals the suburbs of major cities, affordable housing, better lifestyle options, enhanced infrastructure, and the emergence of well-known developers are drawing in both investors and end users. However, space saturation and price inflation harm neighborhoods near the city center.

ou have for real estate should determine whether you decide to buy in a city or a suburb. It makes more sense to look for a house in the town if you want to purchase a property for your use. Let us say, though, that you would like to buy a home as an investment. Then, suburbs may yield a higher return because of lower “ask” prices about the housing stock in the city. Let us examine each of the two options separately. 

Investing in cities 

Established social and physical infrastructure and solid connectivity are benefits of city investment. Therefore, if you buy in a city, ensure your area is well-connected and has all the amenities nearby, including banks, schools, and hospitals. Attempt to invest in a redeveloped area. If you own a property in the city, you might have to pay for maintenance and repairs, which might help you avoid them. 

Remember that you would almost certainly have to make do with a city resale property. Therefore, while haggling over the “ask” price with the seller, be nostalgic about the property’s age. 

If money is tight, you may search for homes on the outskirts of desirable areas. This way, you can reach a fair agreement and stay in touch with the city center.

Investing in Suburbs 

The suburbs are a more sensible choice if you buy a house as an investment or long-term residence. 

Due to urban saturation, the suburbs and peripheries of practically every major city have recently become hot real estate markets. Still, most residential projects are in the construction phase, as well as in the infrastructure. It allows for a reasonable appreciation of the capital invested. 

One of the main advantages of investing in the suburbs is affordability, particularly for those close to major cities. Suburban real estate is more affordable than urban real estate without compromising the quality of the property. Because land is readily accessible, projects on the outskirts of town provide better amenities like swimming pools, clubhouses, gardens with landscaping, and more open space. 

Another advantage of investing in the suburbs is the availability of new properties compared to the cities, where one typically has to settle for re-sale housing inventory. 

Institutional real estate investments in India reached a five-year low in 2023.

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Institutional investments in the Indian real estate market decreased by 12% in 2023 to $ 4.9 billion in 2022. According to data released on Thursday by workplace solutions company Vestian, it is the lowest investment in the sector since 2019, when it was $ 6.5 billion.  

It emphasized the caution investors demonstrate in the face of global challenges. From $3.9 billion in 2022 to $2.7 billion in 2023, foreign investments decreased by 30%. Its portion of institutional investment overall fell from 79% to 65% in the previous year. 

With 72% of their investments in this sector, foreign investors concentrated more on commercial assets. The industrial and warehousing sectors came in second, accounting for 15%. 

Nonetheless, domestic investors remained confident in the industry; total investments doubled to $1.5 billion in 2022 from $ 687 million. The share of domestic investors increased to 35% in 2023 from 14% in 2022. 

Domestic investors allocated 42% of their investments to commercial assets. Thirty-nine percent of residential projects came next. 

“The optimism of domestic investors kept the real estate market buoyant as they continued to show confidence in India’s growth story,” said Shrinivas Rao, chief executive officer at Vestian. 

In part, due to the cautious nature of foreign investors, the co-investment also saw a 95% decline, from $360 million in 2022 to $18 million. 

Previous data from Colliers revealed that institutional investments in the industry decreased during the October-December quarter. During the quarter, these investments totaled $822.3 million, a 37% decrease from $1,299.40 million during the same period last year. 

Vestian anticipates that institutional investments will return in 2024 due to the Indian economy’s robust pipeline of planned infrastructure projects. 

New asset classes are causing the Indian real estate market to explode. As the market expands, so does the need for funding. Rao believes that an increased need for capital could lead to a high return on investment for investors. 

“As investors anticipate high returns, they may inject capital into the sector, resulting in further growth and expansion, thereby driving the need for higher capital investments.”