Parsvnath Developers Ltd Launches Commercial complex Parsvnath City Plots in Vastrapur, Ahmedabad
Unfolding a fascinating business opportunity at Vastrapur, Ahmedabad – a
place which is in the heart of city, is on the brink of educational
institutions and traditional business centres. It is also conveniently
accessible by high end consumers.
Coming up at this high potential zone on Judges Bungalow
Road is City Centre, Vastrapur, Ahmedabad. With convergence of various key
verticals that make integrated retailing a resounding success, Parsvnath City
Centre, Vastrapur offers distinct advantages for sustained growth.
High visibility to shoppers across all levels
Unique product mix which allows competitive environment
conducive for growth
Better retailer satisfaction due to world-class
infrastructure
Uninterrupted power supply with
100% power back-up DG sets of International Standards electrical wiring and
outlets separate metering for each shop.
Ventilation
Through centrifugal fans wherever
required plumbing storage tanks for raw & treated water, soil, waste &
vent pipes grease traps for kitchen.
Fire Detection system
Alarm system, hose reel provided,
wet riser provided, yard hydrant provided fire extinguishers provided,
automatic sprinkler system, break glass units and alarms.
Internal Finish
POP/gypsum board false
ceiling/aluminum ceiling in public areas. Stone/vitrified tiles/stainless
steel/textured paint. Covering on the walls in common spaces plastered &
OBD painted walls in shops.
Security System
CCTV & other hi-tech controls.
Round the clock security.
Exterior Finish
Permanent finish including stone
cladding, composite aluminum sheets, Reflective glass, curtain wall &
texture paint finishes.
Lighting
Facade lighting, street lighting,
adv. & glow signage, all the required internal and task lighting.
Common Facilities
Common toilets in each floor,
modern high class glass fronted lifts, piped music in all public areas, public
address system, parking in basement connected through lifts, escalators,
elevators, atriums
Suppose
a borrower takes a home
loan at a floating rate of interest. Unlike
with a fixed rate loan, the interest rates can move in either direction. If the
floating rates go down, the borrower will be benefited as his EMI outflow goes
down. On the contrary, if the floating rates move in an upward direction, the
borrower's EMI outflow will increase.
How
does a borrower cope with increase in rates? What are the options before a
borrower who is struggling to make EMI repayments every month?
•
Increasing the tenure of the loan could bring some immediate relief. However,
the longer the tenure of the loan, greater is the associated cost of borrowing.
•
Try to pay off high interest rate debts first and refrain from taking fresh
loans. Analyse how much debt you've accumulated and curb your spending habit
•
Move from floating to fixed rate if uncertainty of rate changes is stealing
your peace of mind. However, when
moving from floating to a fixed rate loan, the
borrower is charged a conversion fee. Sometimes these fees and penalties could
eat into your actual conversion benefits
•
Talk to the lender. Explore if he has any convenient repayment options that
could bail you out of your financial crunch
•
Explore if you can make prepayments. In case you have some other savings, even
a partial prepayment could greatly reduce your monthly EMI commitment. Some
lenders charge a small penalty for prepaying
•
If you are paying a far higher rate than other borrowers, perhaps switching to
another lender may not be a bad idea
An apartment, admeasuring approximately 1,780 sq ft, was
leased out at Planet Godrej in Mahalaxmi
at a monthly rental of Rs 1.5 lakh. This flat is located in Central Mumbai and
the rental values of mid-ranged apartments in this location fall in the range
of Rs 1.25–2.75 lakh per month. The aforementioned property, therefore, is
within the expected range. Central Mumbai, much like other locations in the
city, had seen a drop in demand, resulting in correction in values in the first
half of 2009. However, over the past quarter, stability has been witnessed in
both rental and capital values. The location is expected to remain stable in the
short to medium term, as demand seems to be inching back for rental apartments.
CHENNAI
An independent house in Besant Nagar, admeasuring 3,800 sq
ft, was leased out at an approximate rental value
of Rs 75,000 per month. This is a high-end residential unit, which is located
in South Chennai, including R.A. Puram, Boat Club Adyar and so on. Another
apartment, admeasuring 2,285 sq ft, was leased out at Santhome in South Chennai
at a monthly rental value of Rs 85,000. The average rental values in this
location are between Rs 75,000 and Rs 2,25,000 per month. Thus, the rental
values of both the residential units fall within the expected range. The
location has seen steady rental values over the last quarter and has witnessed
a rise of approximately 25% in values over the previous years, largely due to
existing as well as new demand. The rental values in this location are expected
to remain steady in the short term on account of restricted supply and buoyant
demand.
HYDERABAD
Sale transaction of a villa,
admeasuring 2,200 sq ft, was recorded in Kapra, Hyderabad. The villa is
situated in a high-end gated community (villa project) called Saket Mithila. The cost of the villa was around Rs 70 lakh (approximately
Rs 3,182 per sq ft). The project was launched in 2006 with a total of 100
villas in a land parcel of 11 acres. The capital values in this location would
range between Rs 2,500-3,000 per sq ft and this sale, therefore, is within the
prevalent range. Kapra is located in the North Eastern part of Hyderabad and is
a new location being explored by residential developers. The demand that is
being seen is largely for villas from the indigenous business community, retirement
homes or second homes end users.
RESIDENTIAL MARKET
The pan-India residential demand is estimated to be over 7.5
million units by 2013 across all categories,
including the economically weaker sections; affordable; mid and luxury
segments. The demand for top seven cities is estimated to be 4.5 million units
by 2013. Of the total expected demand across India, 43% is likely to be
generated in tier-I cities, i.e., Bangalore, Mumbai and NCR. Mumbai is likely to
witness the highest cumulative demand of 1.6 million units by 2013 due to
various development projects and increasing urbanisation. Hyderabad and
Bangalore are likely to have the highest CAGR of 14% in the next five years.
The affordable and mid-segment category, likely to constitute 85% of the total
residential demand, will be the primary focus of most developers.
Source: Cushman & Wakefield, a
real estate consultancy firm, offers research and advisory services in
property-related matters
Are
you still postponing to buy
your dream home, expecting that prices will decline
further? Well, it’s time for you to do a reality check. The prices of a
majority of the realty projects in the affordable segment, which is the sub Rs
30 lakh category, witnessed a steady or an upward movement during the last six
months.
According
to a joint analysis by SundayET and PropEquity, a real estate data analytics
and research firm, out of 822 projects across 13 major cities — Ghaziabad,
Gurgaon, Delhi, Noida, Faridabad, Greater Noida, Bangalore, Pune, Thane, Navi
Mumbai, Mumbai, Chennai and Hyderabad — around 41% or 333 projects witnessed a
price hike during the last six months. The analysis, computed exclusively for
SundayET, also found that prices remained unchanged for around 322 or 39% of
the total projects, whereas, there was a decline in prices of remaining 167
projects.
According
to Anshuman Magazine, Chairman & MD of CB Richard Ellis, the price rise is
from the discounted price and not from earlier peaks. The price rise is due to
relatively high demand from all three categories of buyers — professional investors, second and
third home buyers and end users. “Going forward, prices
are likely to go up but that will be based on locations and projects.”
The
analysis was based on available residential projects in the affordable housing
segment i.e. under Rs 30 lakh price category across these cities. The analysis
compares city-wise change in project pricing over the period March-April 2009
and September-October 2009 for affordable housing projects.
In
the
affordable segment, the maximum prices increase took
place in Mumbai. The average price of projects went up by around 23%. Out of 85
projects in this segment in Mumbai, prices of as many as 53 projects increased.
There are eight projects where there has been more than 15% price rise during
the last six months.
Thane
and Navi Mumbai follow closely at second and third position respectively as far
as highest price rise is concerned. In Thane, prices went up by around 14%,
whereas, Navi Mumbai witnessed an increase of around 12%. While in Thane, 35
out of a total of 47 projects witnessed a price rise, in Navi Mumbai 21 out of
the 36 projects registered an increase in prices.
Industry
experts feel that the price increase in the affordable segment
may move the focus soon to the mid segment. “The Rs 30-60 lakh segment will see
huge demand. However, going forward the focus on the sub 20 lakh category may
get diluted to some extent,” said Navin Raheja, MD, Raheja Developers.
Agrees
Pankaj Jain, ED of Realistic Realtors, a real estate consulting firm, who says
that demand may decrease in affordable housing if prices go beyond this point.
“The minimum increase has been 10-12% whereas the highest is 20-25% in cities
such as Mumbai. Developers must hold on to prices for atleast next two
quarters...else demand may slacken once again, even in this segment.”
Reliance biggest wealth creator in FY09, Unitech fastest: Study
MUMBAI: Reliance Industries has
emerged as the biggest wealth creator in the 2009 fiscal, generating Rs
1,51,400 crore, which accounted for over 15% of the total wealth created during
the year in the country, a study has said. Leading brokerage firm Motilal
Oswal, in a study released here on Thursday, said oil and gas has been the
biggest wealth creator during the past six years—the first three years led by
state-run oil and gas major ONGC and the next three by RIL. “Reliance
Industries has emerged as the biggest wealth creator for the third time in a
row. It has created Rs 1,514 billion worth of wealth, contributing 15.6% of
total wealth created in FY09,” the study titled ‘14th Motilal Oswal Wealth
Creation Study’ said. Also real
estate Company Unitech was the
fastest wealth creator since 2004, the study said; adding Unitech’s five-year
stock price had a staggering CAGR of 122%. Apart from RIL, homeloan
lender HDFC, pharma company Sun Pharma, auto
major Hero Honda and software exporter Infosys have emerged among the top 100
wealth creators in the past one decade. “HDFC is ranked as the most consistent
wealth creator by virtue of its 10-year price CAGR being the highest,” the
study said.
Recession,
stock market crash, and job uncertainty the economic climate almost turned
‘consumer sentiment’ into a household term. Be it a stock
broker, car dealer or real estate agent, consumer sentiment
is a yardstick. So, what makes consumer sentiment relevant in the realty
sector? Would a just-married couple analyze consumer sentiment in the market
before going in for a flat they now need? Most significantly, how relevant is this
factor in the case of a property investment?
First-time
buyer perspective
As
a city grows and the population increases, owning a home becomes a basic
necessity. Rents keep increasing in the central areas. As the rent one pays to
stay in a locality with given attributes keeps increasing, there will come a
time when the amount being paid as rent will add up to a home loan EMI. In
other words, it would make more economic sense to buy a
home and pay EMIs than pay a considerable amount as monthly rent.
Over
the years, a home turns into more than an asset. It grows into a legacy. It is
to most an inheritance they gift their children. ‘Creation of asset’ in this
context is different from building an equity investment portfolio. For a
first-time buyer, the priorities need to be budget and location. The flat or
villa has no meaning as an asset class in the near term as any value assigned
is only of academic interest. It is bought to live in and assumes significance
as an investment only many years later. In the near term, it is an asset that
cannot be cashed. Therefore, it makes more sense to buy in a correction phase
than when the ‘consumer sentiment’ pushes the market, and prices, up.
Investor
perspective
For
high net worth individuals,
property is an asset class that adds stability
to a portfolio. It is also a safe avenue to park surplus funds in. Property
investments pay handsome capital returns over a long term. Also, capital gains
from residential property investments can be reinvested in property to avoid
the tax in the hands of the investor. This apart, property yields definite
rental returns that can be used to invest in other avenues. The rental income
can, in cases of a potential commercial property, be discounted for finance.
Range
of options
For
many years, especially through the last decade, the concept of ‘affordable
housing’ had been dismissed as unfeasible. In
the recent times, the realty sector has discovered this market to be huge and
is tapping its potential. Thanks to road connectivity being augmented and the
infrastructure development in the suburbs, affordable housing is here to stay
as a significant part of the realty market. This segment has broadened the
range of options available to endusers.
For
investors, gated communities and upper end apartments are attractively poised
at the moment. As multi-national organisations begin expansions, these segments
will find many takers.
As
in the case of any investment option, buying when the prices have been through
a correction yields the best returns.
Take
the case of Satish Nair. A Delhiite by birth and one who has lived in the city
for the last 40 years, he always yearned for a house that he could call his own
back home. However, searching for a house in Kerala was a tedious job and he
was always hesitant in matching any action with his wish.
Similarly,
Naina Balsavar knows more
about property in Goa and their merits and demerits than
many Goans. She has been keenly following all property launches in the state
and is eager to pick up her dream home there one day.
Arvind
Jhamb has been looking for a property in Goa for some years now. He even made a
trip to the state and saw a few properties. “But either the price was not right
or the titles were not clear,” he says.
So,
if the buyer is ready and properties are available, the best way would be to
bring the properties to Delhi. Today zameen-zaidad.com, the property portal promoted
by the Times Business Solutions Ltd has brought Goa and Kerala properties to
the capital’s buyers. On display is an array of different types of properties,
including villas, row houses, 2- and 3-bedroom apartments and serviced
apartments across Goa and Kerala. Each has a different set of drivers for the
Delhi buyer.
Beaches
that feature prominently in the Goa Property fair include Arpora, Baga, Dona
Paula and Calangute, among others. Paresh Pai, partner in Heritage Princes Real
Estate Developers, which is displaying Heritage Exotica at Arpora, says: “We
are looking forward for prospective buyers from Delhi who are looking for a
second home in Goa. Due to its beauty, greenery and climatic conditions, it has
always been a favourite destination for investment and an attractive place for
holiday homes.”
For
Kaushal Bagadia of Nitin Developers, Delhi has always been a market with
immense potential for picking up Goa properties. Jugdeep Sehgal of Bharat
Developers & Realtors Ltd says the USP of his sales pitch is that he has
brought “fully equipped service apartments and townhouses in South Goa close to
the world famous Pololem beach. The 5-star amenities result in a healthy 8-9%
assured rental returns”.
For
Kerala, the large Keralite population living in Delhi is the prime target for
properties at the fair. The consumer in Delhi looks for quality construction
with good aesthetics and ventilation.
George
E George, director of Infra Housing Pvt Ltd, says the consumer preferences have
been for good returns on investment, projects nearing completion and home for
the retired. He has brought all three to the zameen-zaidad Property show in
Delhi. Infra Nouvelle, a one-bedroom,
fully furnished and loaded apartment, which
will be operated as a Luxury Serviced Apartment, comes with a price tag of Rs
24 lakh. Infra Vantage is for Rs 37 lakh and has luxury apartments to be
completed in September 2010. Verandah Gardens offers high-end retirement homes
at a price bracket of Rs 28 lakh to Rs 33 lakh.
Sobha
Developers is coming with, Sobha City, at a special offer price of Rs 2,722 per
sq ft for bookings till December 31, 2009 and is located 5km from Thrissur on
the main Guruvayoor Highway, in Puzhakkal. Unnikrishnan, senior general
manager, Sobha Developers, says: “We have introduced smaller size apartments
with smaller builtup areas to make them affordable to the common man.”
Oceanus
Dwellings Pvt Ltd is offering apartments and villas in Kochi, Thrissur,
Trivandrum and Kasargod. Price of flats range between Rs 15 and Rs 60 lakh and
villas from Rs 18 to Rs 80 lakh. Shyam Sundar, GM (Business Development), says
consumers are now choosier and seek budget homes with smaller areas.
The
basic idea is that the consumer is now driving developers to meet his
requirements. The choice is large and developers are in a mood to woo the end
users. Little wonder that second homes beckon Delhiites to explore beyond the
NCR.
Individuals including self employed
can claim a deduction on the expenditure incurred towards payment of rent for the house occupied by them. As per the provisions of
the Income Tax Act, in computing the total income of an assessee, a deduction
on the rent expenditure incurred for any furnished or unfurnished accommodation
occupied by him is allowed. The residence should be used by the assessee only.
In order to avail this deduction, an
assessee could be self-employed or a salaried employee. Further, he should not
be in receipt of any house rent allowance (HRA). The Income Tax Department
may prescribe other conditions or limitations, with regard to the area or place
in which the accommodation is situated and after taking into account other
relevant considerations. Normally, most of the salaried employees will be in
receipt of HRA and accordingly the deduction on account of rent paid is
governed by the provisions related to HRA under the IT Act.
Amount of deduction is limited to
the least of these:
Rs 2,000 per month 25% of total
income for the year (excluding long-term capital gains and some specified
incomes, before deductions for any expenditure)
Expenditure incurred in excess of
10% of total income towards payment of rent
SOME POINTS TO BE
NOTED
The deduction will not be available
to an assessee if the residential accommodation is owned by him, his spouse or
minor child. It is also not available if the house is in the same city where he works.
In case a house is owned elsewhere:
The deduction will not be available to an assessee if a residential
accommodation is owned by him at another place, and he is claiming deductions
on it as a house occupied by himself under Section 23 of the IT Act. In such a
case, no deduction will be allowed in respect of rent paid, even if the person
does not own any residential accommodation at the place where works.
Omaxe Limited Launches Premium Residential Township in indore
Welcome to the 21st Century Lifestyle at OMAXE CITY- INDORE An Integrated
Township of International Standards .
Would you like to live in an ultra - modern township ?
With everything from residential plots, expandable villas,
hospitals, Commercial
Complexes and schools. It's far ahead of everything you have seen before. A
fine fusion of world-class infrastructure and rich tastes, Omaxe City, for a
city like Indore, nothing else would be adequate.
A humble effort to make it a reality
With its new age design and world-class ambience, Omaxe
City, Indore is a humble attempt from Omaxe to lay a strong foundation for a
Developed India. Located on NH-3, Agra-Bombay bypass, makes it an ideal
location to make such a dream into a concrete reality.
Perfection in every structure. Unparalleled elegance for
your own home
Omaxe City, Indore is an integrated township comprising
plots, independent
floors and villas in a sprawling expanse of 89 acres. With all facilities
and amenities such as schools, hospital, theme parks, state-of-the-art club,
local shopping centre, grocery store and more....all within the township.
* Township duly
approved by Town & Country Planning, MP
* Manned security
at entry points
* Most luxurious
and privileged township for people who have their business and professional
interests in Indore and adjoining industrial areas.
Features
QUALITY EDUCATION & HEALthCARE TO KEEP MIND & BODY
FIT
Provision for:
* Commercial
Complex
* Dispensary /
Nursing Home
* Primary Schools
* High School
* Nursery school
with crèche
All facilities for your day-to-day needs at your doorstep
A city inside a city
* Provision for
need based essential services like banks, sub-post office,
* taxi stand,
grocery store, super market, etc.
* Provision for
gas pipeline
* Hi-tech security
system
* Underground
cables for telephone, electricity distribution, storm water drains
* & sewer
system
* Fibre optic
network and e-connectivity
* Efficient power
distribution network
* Regulated
underground/overhead water supply
* Township
maintenance and upkeep by a reputed maintenance agency
* Community Centre
All the facilities for you and your growing child
A Royal Retreat
* Children's play
facilities
* Integrated
landscaping including theme parks, water bodies
* & water
features
* Wide roads with
planted pathways & jogging track
Living in complete harmony with Nature
* Afforestation by
increasing green cover
* Rainwater
harvesting for replenishing ground water
*
Environment-friendly waste disposal
* Sewage treatment
and incinerators
Provision for exclusive club and community centres with :
* State-of-the-art
club with facilities like swimming pool, sauna, steam,
Ansal Housing & Construction Ltd launches Residential Township in indore
Enter a city within your city, Enter a world complete in
itself. Enter Ansal
Town - Indore. Designed by L.S. Vaswani Architects, Ansal Town - Indore
offers you all the amenities of modern living -
luxury apartments, plots, convenient shopping centre catering to all
day-to-day needs, schools and a club with swimming pool, gymnasium etc. All
this in a pollution-free environment with ample area of green glades
intersected by wide open roads that makes outdoors a mood elevator.
And considering the proximity to reputed higher educational
institutes, medi-care units and speciality hospitals, road and commercial complexes
and other features of the city, Ansal Town - Indore is a paradise for people
desirous of settling in this city or looking for an investment destination in
real estate.
In essence, all the elements of fine living come together,
only in a more refined form.
