BANGALORE: South-based film financier and real estate investor PVP Ventures has emerged as the top bidder to acquire majority shares of Goldman Sachs in India's second Four Seasons hotel project in Bangalore. IT park developer RMZ Corp is a close contend

Donald Trump ties up with Lodha for residential project in Mumbai ET 17 Sep 2013, 20:32 IST

MUMBAI: US-based business tycoon Donald Trump has tied up with Indian realty player Lodha Group for a high-end real estate project in the metropolis. The luxury residential project, called 'Trump Tower', will come up inside Lodha's just launched 17.5 acr

Lodha Constructions did not abuse mkt dominance: CCI ET 17 Sep 2013, 16:42 IST

NEW DELHI: Competition watchdog CCI has dismissed the charges of abuse of dominant market position against real estate developer Lodha Healthy Constructions & Developers for residential apartments in Hyderabad. "Since opposite party (Lodha Healthy) prima

Dons are new lords of real estate ring 

PATNA: Criminals, or the so-called 'dabangs' (strongmen), joining politics is passe. Now, they are the lords of the real estate ring, playing a big role in the booming construction business, particularly in and around Patna. The alleged crime lords of Pa

Concentrated wealth is costing real estate dearly ET 16 Sep 2013, 06:22 IST

For years, real estate has been a preferred investment in India. This was driven by favourable demographics, shortage of housing, a move to nuclear families, easy credit and increase in black money that required storage. The RBI released excess liquidity

Real Estate Agency

Federal Reserve

Real estate regulator bill back on track after technical glitch TOI 14 Sep 2013, 07:23 IST

NEW DELHI: The legislation to set up a real estate regulator to protect home buyers from unscrupulous developers and builders is back on track after hitting a technical roadblock. The housing ministry, which piloted the bill in Parliament, went jittery a

Akshay Kumar to buy multimillion dollar villas? TOI 13 Sep 2013, 08:57 IST

If it wasn't enough for him to be one of the big players of Bollywood, Akshay Kumar is soon going to be uncrowned king of Goa real estate. We saw him in Anjuna this week scouting for one of those multimillion dollar villas we don't know anyone can afford

86 realtors show interest in Haryana housing proj ET 12 Sep 2013, 18:35 IST

CHANDIGARH: As many as 86 real estate companies, including DLF, Emaar MGF, Raheja Developers have shown interest in developing Haryana government's most ambitious affordable housing project in the state. Haryana's Town and Country Planning Department has

Drop in real estate investment in Tamil Nadu

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Aparna Ramalingam, TNN | May 8, 2013, 07.39PM IST

CHENNAI: Tamil Nadu has registered a year on year drop of over 75% in attracting investments in the realty sector. New investments in the realty sector in the state dropped from Rs 13,600 crore to just over Rs 3,300 crore between 2011-12 and 2012-13, according to Assocham (The Associated Chambers of Commerce and Industry of India).
However, the good news is that TN has been ranked third with a share of about eight per cent in the total value of new investments attracted by the real estate sector across India during the last fiscal, according to Assocham. "States across India attracted new investments worth over Rs 42,000 crore in the real estate sector during 2012-13 which declined from over Rs 92,600 crore during 2011-12," DS Rawat, national secretary general, Assocham said.

While most of the states have seen a decline in attracting new investments in the realty sector, Gujarat has been an exception. The state has seen a surge of over 700% attracting investments worth over Rs 17,000 crore as on March 2013 from just over Rs 2,000 crore a year ago.

"Kerala is another state which has seen massive growth of over 550% in attracting new investments in the real estate sector followed by Uttarakhand (400%) and Rajasthan (175%)," Rawat said.

Find a Home to Buy

Buying a home can be an overwhelming process and emotionally draining. Finding the right home is not always an easy task. I advise buyers to look at a maximum of 7 homes at a time because any more than that will make a buyer's head spin.
Most buyers conduct a lot of research online before ever stepping foot in a home. Buyers spend an average of 6 to 8 weeks, according to the National Association of REALTORS, trying to figure out where they want to live. But once the neighborhood is selected, most buyers end up buying a home after 2 or 3 home tours.
It's not always necessary to have a mortgage broker or bank in your back pocket before buying a home, but it's smarter to get loan preapproval in advance. This way you know for certain how much home to buy.
I once bought a home without financing in place when I made the offer. I was just lucky. Many sellers won't look at an offer if the seller doesn't have assurance that the buyer can get a loan.
Popular first-time buyer loans are FHA loans because the minimum down payment requirement is much less than a conventional loan. However, if you are thinking about buying foreclosures, for example, conventional buyers tend to get priority with REO banks.
You can ask your agent for a referral to a mortgage broker or check with your own bank / credit union. Compare the types of mortgages available to you and your GFE.

Negotiate the Offer

Buyers sometimes make the mistake of comparing the sales price of a home to other homes they have seen. It's a mistake to compare sales prices among homes for sale. That's because sellers can ask any price they want. It doesn't mean the home will sell at that price.
An agent can provide comparable sales and examine the pending sales. Comparable sales are similar type homes in the same condition and location that have sold within the past 3 months. Pending sales will become the comparable sales by the time your home closes.
You may need to pay over list price in a seller's market, especially if many buyers are vying for the same inventory. Your agent can give you a reasonable price range and help to manage your expectations. An good buyer's agent knows there is always more to an offer than its price, but price is paramount.

Do a Home Inspection

In some states, a home inspection is conducted before buyers make a purchase offer. In other states, a home inspection is a contract contingency. A contract contingency means a buyer has the right to cancel the contract. You might not want to be locked in to buying a home that has a faulty foundation, for example.
Sellers are generally not required to make repairs if problems are discovered during a home inspection. A home inspection is for the buyer's edification. However, sometimes when a buyer gives a Request for Repair to the seller, rather than blow the deal, the seller will often agree to make a repair.

Syed 9884342786

Chennai is an amusing mix of tradition and modernity as it is the only city that shows off both cosmopolitan lifestyle and culture. Chennai, one of the major economic centers of the country is mostly contributing to the country’s global rise. Due to the rising IT companies, automobile companies, Chennai has always had a very good potential. All credit goes to the brilliant infrastructure development by both government and private bodies. To support the existing intra city transport, the Chennai Metro rail project is being proposed and no doubt the city is one of the coveted destinations for investment.

Chennai has excellent health, educational and infrastructural facilities. The city possesses the best medical facilities in the country, with Apollo, Vijaya and Shankar Netralaya to name a few. Earlier days Spencer Plaza was the only mall people visited but today malls are being constructed at different suburbs and people need not travel to one single destination for shopping.

With business brewing, the real estate firms are moving in to the city with residential and commercial properties. With regard to residential properties, the real estate firms in Chennai are coming up with new and innovative projects with lavish international standard specifications and state-of-the-art lifestyle amenities. These have totally transformed the city in to flourishing residential hotspot.

So what are the hot places to invest in Chennai? According to experts, South Chennai is the good place to invest money as there is a lot of infrastructure development and there are good chances of appreciation of properties. South Chennai is buzzing with construction activities in residential, commercial and retail sectors. Areas like Old Mahabalipuram Road (OMR), Grand Southern Trunk Road (GST) road and Oragadam has got good potential in terms of return on investment. Along GST Road, prestigious self sustained township projects like Palm Riviera, Royal Castle, Temple Waves, Heritage, Saffron Heights are offering high and low rise apartments, penthouses, independent and luxurious bungalows, with state-of-art commercial complexes, shopping malls, posh restaurants and entertainment zones etc.

For every Non Resident Indians (NRIs) investing in real estate market always tops the list of investment options. The capital appreciation potential of Indian real estate market have been creating keen interest in Non Resident Indians (NRIs) to invest back home. With huge developments happening in not only most metros but also in many TIER I and TIER II cities across the country, there is a common question prevailing among NRIs on where to invest the hard earned money and fetch a good return on investment.

If you are one among the NRI who wants to invest in India then no doubt the first query that would linger in your mind is Where, How and Why? Let’s try to find answer.

According to experts, for investment perspective, Mumbai takes the lead in North India and Chennai in South India. So what has made Chennai one of the most preferred destinations in terms of real estate investments?

Chennai is an amusing mix of tradition and modernity as it is the only city that shows off both cosmopolitan lifestyle and culture. Chennai, one of the major economic centers of the country is mostly contributing to the country’s global rise. Due to the rising IT companies, automobile companies, Chennai has always had a very good potential. All credit goes to the brilliant infrastructure development by both government and private bodies. To support the existing intra city transport, the Chennai Metro rail project is being proposed and no doubt the city is one of the coveted destinations for investment.

Chennai has excellent health, educational and infrastructural facilities. The city possesses the best medical facilities in the country, with Apollo, Vijaya and Shankar Netralaya to name a few. Earlier days Spencer Plaza was the only mall people visited but today malls are being constructed at different suburbs and people need not travel to one single destination for shopping.

With business brewing, the real estate firms are moving in to the city with residential and commercial properties. With regard to residential properties, the real estate firms in Chennai are coming up with new and innovative projects with lavish international standard specifications and state-of-the-art lifestyle amenities. These have totally transformed the city in to flourishing residential hotspot.

So what are the hot places to invest in Chennai? According to experts, South Chennai is the good place to invest money as there is a lot of infrastructure development and there are good chances of appreciation of properties. South Chennai is buzzing with construction activities in residential, commercial and retail sectors. Areas like Old Mahabalipuram Road (OMR), Grand Southern Trunk Road (GST) road and Oragadam has got good potential in terms of return on investment. Along GST Road, prestigious self sustained township projects like Palm Riviera, Royal Castle, Temple Waves, Heritage, Saffron Heights are offering high and low rise apartments, penthouses, independent and luxurious bungalows, with state-of-art commercial complexes, shopping malls, posh restaurants and entertainment zones etc.

Whatever you name it, short, medium, long term or joint venture investment plan, Chennai is definitely the safe and profitable city to make investment. Invest in Chennai real estate, the city with tremendous potential and enjoy the good, stable and risk free investment for the future.

 What To Look Out For While Buying a Home

In the last four to five years Chennai has witnessed more than 10 million sq. ft of quality IT SEZ supply. Occupier sentiments are improving as the global economy recovers and corporates have shown a clear preference for quality office spaces with reasonable rents. In the last quarter, approx 2.4 million sq. ft of office space came into supply and almost 94 per cent of the leasing activity was registered for Grade A stock.

The residential sector continues to see some robust investment by local and national developers where few developers cumulatively have invested more than Rs.1,000 crore in land in the last one year primarily for residential development. Interestingly, this Rs. 1,000 crore investment made by few developers and fund houses have been in city locations where the overall supply compared to peripheral location is low. Developers sense a demand for luxury segment as enquiries for up market addresses like Poes Garden, Boat Club and Nungambakkam have historically remained high.

Moreover, overall supply in this up market or luxury segment would be much less compared to that of peripheral locations. In the peripheral areas of Chennai, unsold units are on the rise. While the manufacturing and automobile sector had played a significant role in the city’s economy growth over the years, the last two years have seen a dip in demand. Dearth of land in existing SIPCOT industrial parks – Sriperambadur and Oragadam have added to this.

Will there be a price correction or will the prices go up?

In the residential sector, sales are expected to improve as overall housing demand has increased in the city. This is mainly due to improvements in infrastructure, rise in income levels and increasing employment opportunities in all sectors. Most of the micro markets are expected to maintain stable capital value trends. In the mid-end segment, Adyar, Mylapore and Velachery may witness an increase in capital values in the long term due to inherent demand from business class and HNI individuals. Velachery, in particular has seen a 40 per cent rise in capital values on a year-on-year basis as improvements in infrastructure and the ongoing metro work will provide better connectivity and prices are witnessing an upward trend in this micro market.

In the high-end category, R.A.Puram and neighbouring areas of Alwarpet and Abhiramapuram saw a 5 per cent increase in capital values this year and may continue to increase, as demand remains strong in these pockets. At present, four or five major high-end projects are under construction around CBD (Central Business District) areas, with apartment sizes ranging between 3,000 – 4, 000 sq. ft. These are priced in the range of Rs. 7.5 – 10 crore and will provide capital appreciation in the future. In summary, the trend of unsold units in the some parts of OMR and GST continues, price correction in these locations is natural and in the city since the launches of these high projects will come in phased manner, the demand for high end segment will hold up the price.

When is a good time to invest?

Investments in residential properties are dependent on the time horizon and an investor’s risk appetite. For short to medium term, investing in Anna Nagar, Adyar, Velachery and Nungambakkam are good choices as projects in these micro markets find takers quickly and most known developers have been able to sell their units while still under construction. For medium to long term, peripheral stretch of OMR and GST are good options, however the current situation of unsold units is on the rise in some of projects in these locations. Therefore developers are largely dependent on end user and investors who invest for rental yields.

Which areas in Chennai have the most potential for growth over the next ten years?

From a residential perspective, OMR and GST in a long term will continue to be an attractive proportion for middle income group. High-end supply which caters to upper income group is in locations like Nungambakkam, Boat club, Poes Garden and ECR.

What advice would you give home buyers? What should they look out for before buying a home?

With the approval of the Real Estate Regulatory Bill, the developer community is expected to be more transparent and accountable; however, home buyers must only invest in housing projects where all the necessary approvals are in place. Before investing in a house one should also check the title deeds and ensure there are no disputes on land titles. Investing in projects with developers with a good track record and no delays in construction completions helps ensure the developer’s credibility and makes the investment less risky and relatively “safe”.

Hariharan has been in the commercial leasing business in Chennai for over 11 years. He also has experience in the financial and telecom space and has worked across realty markets in cities like Chennai, Coimbatore, Kochi, Trivandrum and Colombo. To Call Any Time 9884342786