Real Estate Developers are Seeing GST as a Boon

Real estate developers and constructors in India have accepted the implementation of Goods and Services Tax (GST). They say that GST will improve the broken tax system and help create an integrated market. The Indian Government had already made it clear that leasing of land and renting and EMIs paid for buying of under construction houses and any kind of property in Mumbai, Delhi or any other part of country will be under the ambit of GST. Though the sale of land and buildings will not be included under GST but these kinds of transactions will attract stamp duty.

Mr. Ravish Kapoor, Director, Elan Group said that “GST exists for the growth of real estate sectors. GST will make business more smooth and transparent and more investments will flow into the sector”.

M3M Group also said that the real estate sector account for about 5% of the whole country’s GDP and is said to be the second largest employer. The Fiscal Policy makes a challenge indeed for the real estate developer. One such bottleneck is to multiply tax discounts such as VAT, service tax, excise duties, registration fees etc. GST is expected to add to about 2 percent of India’s GDP with economic growth and the demand for real estate getting a boost. But there are some issues, which have already been highlighted by various companies and GST council should take a note.

Omaxe Ltd, CEO, Mr. Mohit Goel says that Lok Sabha has passed 4 bills related to GST and the roads should be cleared for its implementation in July. It is a single most important indirect tax system to be implemented by the country till date. The tax system of the country will be simpler after the implementation of GST and bring about a boost in the economy of the nation. He also added that their firm is hopeful that its positive effect on the overall economy will also help the growth of real estate sector in the longer run. The Pune Property owners will also benefit from it.  

The implementation of the GST is effective from July 2017.

Under the present tax regime different states impose separate discounts as goods move across the country. Truck drivers spent more idle time at the interstate borders in filling forms and awaiting inspections. Small and medium sized companies want to grow and become national companies, but they have to deal with this administrative burden. Thus GST will improve the present stagnant conditions of the sector in the country.

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Why is South Mumbai Preferred by Expats?

There is a certain energy and exhilaration associated with the city of Mumbai that is supposed to be the entertainment and above all, the financial capital of India. People from all parts of India dream of coming to Mumbai and settle here for a prospective future. Mumbai is therefore a heaven of habitats for almost every single stratum of the society. However, there are certa in areas of Mumbai that are known to be extremely extravagant and posh, having a certain elegance quotient entwined with  them and therefore, such places are always sought after by the celebrities and other rich and renowned people of Mumbai. In the context of residential properties in Mumbai, one such region is SoBo or South Mumbai.

Nothing can Beat South Mumbai

 

From the perspective of real estate Mumbai, South Mumbai or ‘SoBo’ (derived from erstwhile South Bombay) is a preferred place of accommodation for the upper echelons of the society. This is one of the most costly zones of Mumbai that has got some of the most luxurious lifestyle-based housing destinations solely designed to suit the sophistication of the elite class of the Indian society. Some of the places in the South Mumbai region are Cuffe Parade, Nepean Sea Road, Peddar Road, Colaba, Nariman Point, Malabar Hill, Marine Lines, Tardeo, etc. and they are famous for their escalating property rates that can only be afforded by the elite classes of the society. 

This place in spite of being one of the oldest zones of Mumbai is still one of the most modern and trendiest areas as well. It comprises of the downtown area of Mumbai and sits at the heart of trade and commerce of the city. In fact, it can also be said that this area not only holds an importance in terms of Mumbai real estate but also throughout India and globally as well in terms of its business and cultural importance.

Style of South Mumbai

As already mentioned earlier, South Mumbai is said to house some of the best localities of Mumbai. In fact, apart from the residential complexes, villas, bungalows and high rises, there are several museums, art galleries, bars, marvelous restaurants, luxury retail shops such as Armani, Zegna, Hermes and of course the biggest attraction in the form of the Gateway of India as well. Therefore, it goes without saying that when it comes to real estate Mumbai, this place is one of the most magnificent zones that contains several tourist attractions as well. What’s more, South Mumbai’s property rates are always soaring as per the market fluctuations and these are almost at par with those of Manhattan in the United States of America. This is the reason why this place tops the list for wealthy expats and celebrities who are ready to spend a considerable amount of money in order to purchase a property in the South Mumbai or SoBo region.

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Top Area to Invest in Property in Pune

Pune is on its way to becoming one of the top metropolitan cities in the country. With development projects like provision of metro railway and international airport being planned in Pune, it is likely to have a tremendous boost in the real estate market as well. However, the main reason for the boost in the real estate market will come from the increase in the Information Technology sector in the city.

Real Estate in Pune

With more and more people moving in the city, the main city areas have become congested and the little amount of residential real estate left have very high demand. It is not only very difficult for people to find available housing in the main city, but with the amount of demand, property owners have increased the costs of rent. It is not different for property developers as well, as they also increase the costs of the residential properties in Pune which are available for sale. With this problem, real estate developers have decided to bring the residents to the peripheries of the city, not only to provide more housing but to decongest the city a little bit as well.

Suburbs in Pune

Many people now prefer to buy properties in the suburbs of Pune. While some of them are first-time home buyers, many of them just want to have a second home as an investment as with Rs. 40 lakhs, one can easily purchase a decent home in the suburbs as compared to the Crores of money it would cost to buy new apartments in Pune. The best thing about the suburbs in Pune is that it is far enough from the city to have a peaceful life but it is also near enough for the residents to commute to the city. These suburbs also come with the latest facilities and amenities as well with localities like Ranjangaon and Shikhapur to be satellite towns in the near future. The connectivity for the suburbs in Pune are also under development and in the next few years, there will be no problem while commuting to the city.

Benefits of Suburban Area in Pune

As mentioned before, the best thing about the suburban area of Pune is the affordability of the homes there. As compared to the flats in Pune city, the homes in the periphery of Pune will also be much safer for children as well, as they will be able to play outside, which is a rare thing in the big city. These affordable homes in Pune will also be great for young people to live in as well as they will be able to afford the homes here. And with the development of the connectivity to these suburbs, there will be no problem, such as traffic and lack of transportation, to go and come back from the city. 

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Most Popular Locations in Ahmedabad to Buy A House

Of late, Ahmedabad has emerged as one of the prominent cities that offers housing across various segments. The initiatives being taken to convert it into a smart city are expected to further boost its infrastructural as well as real estate potential.

Ahmedabad’s real estate market is mostly end-user driven, where there has been plenty of demand in the affordable housing segment. However, the rising popularity of certain localities reveals a good trend that Ahmedabad residents are increasingly on the lookout for convenient homes, houses that live up to their lifestyle expectations and aren’t very far from their workplaces.

A quick glance at some of the real estate websites reveals that flats in Chandkheda, Thaltej, Gota, New Ranip, Vastrapur, Satellite, Vastral, Bopal, Motera, as well as flats in Shahpur are in good demand, and are counted amongst the popular investment destinations in Ahmedabad. The overall price range of these properties is Rs. 2000 - Rs. 6500 per square feet, depending mostly on the developer and the exact location of the project. The amenities on offer and the age of the property also play a key role.

Regardless of the recent slump in the real estate market, after demonetization, the residential property in Ahmedabad are on the rise again, but majority of them are concentrated on the northern and western parts of the city. Since Ahmedabad’s central business district, Ashram road is mostly saturated, a lot of commercial spaces and offices are being developed in and around the SG Highway. Resultantly, various residential projects have also come up at these places.

Anyone who wishes to buy residential property in Ahmedabad should first start by getting acquainted with all the popular areas of the city. Let’s tell you a bit about few of them:

Satellite - The pricing of the properties here is a good indicator of its popularity among the well-to-do population of the city. You won’t find many affordable homes here, as the majority of the units on offer are 3 BHK or 4 BHK, with prices ranging from Rs. 1.3 crore to Rs. 1.85 crore. It’s well connected by the Bus Rapid Transit System and Ahmedabad Municipal Transport Services. Its connectivity via SG Highway keeps the housing demand constantly good in this area.

Vastrapur – This is the place which hosts Gujarat University, NIIT and Indian Institute of Management. From the real estate perspective, it attracts a lot of student population, mid-segment homebuyers and people looking for some of the most premium homes. You require a minimum of Rs. 75 lakh to purchase a 2 BHK unit here. A 3 BHK apartment in Vastrapur may set you back by anywhere around Rs. 1 crore. Going by the trends, the prices here have stabilized over the past 1 year. No drops are expected in the near future either.

Thaltej - Anyone who wishes to buy an affordable home, yet enjoy the location advantage (with regard to the connectivity to SG Highway), must consider buying a property in Thaltej. It is home to a good number of corporate offices, which automatically improve the residential outlook of the area, keeping demand always high. A 2 BHK property here would cost you around Rs. 50 lakh, while a 2 BHK apartment in Thaltej unit may make you spend anywhere in the vicinity of Rs. 95 lakh.

To conclude, anyone who wishes to buy property in Ahmedabad, must do ample due diligence, study all the popular locations and check property rates in Ahmedabad, before coming to a final decision.

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Area Profile of CBD Belapur

The Central Business District of Belapur is located in Navi Mumbai, in the city of dreams, i.e., Mumbai. The location is an excellent spot for buying residential property in Mumbai due to its scenic beauty, outstanding connectivity and proximity to market areas. The locality has gone through evolution in the recent years and now is one of the busiest hotspots in the real estate domain.

Locale of CBD Belapur

The Central Business District of Belapur is located in the Thane District of Mumbai, which is also an attachment of Navi Mumbai. The location is very well linked with transport connectivity. CBD Belapur Railway Station lies a few kilometers away and the bus service of the location is well-matched to meet any distance routes.  

The place has seen a significant growth in the residential sector due to its great connectivity with other parts of Mumbai. The locality is surrounded by hills and greenery and is one of the most civilized parts of Navi Mumbai. There are even waterfalls in sector 8B which attract the nearby residents to come for trekking and outings. These features add on to the real estate market of Mumbai.

Amenities in the Place

The place is well surrounded by all major amenities and is a hub for many major offices. As the name suggests the locality is a nerve centre for many government and state offices which include the Konkan Bhavan, Central Government Offices complex (CGO), Navi Mumbai Municipal Corporation (NMCC) and Head office of Navi Mumbai City and Industrial Development Company (CIDCO Bhavan).

The area is well enclosed by major amenities like schools, colleges, banks, offices, companies, restaurants, star-hotels, hospitals, markets, gymnasiums, parks, food courts and shopping malls.

Real Estate Scenario

The real estate of the place has seen an increase in recent years due to the vast urbanization and development of new residential projects in Navi Mumbai. There are all kinds of apartments available in the area including 1BHK to 5BHK flats, villas, and bungalows with different property rates in Mumbai. The prices are comparatively lower than the other busy parts of Mumbai with 1BHK and 2BHK properties averagely ranging from INR 55 lakhs to 1.2 crores and they may even go as high as INR 8-10 crores for luxurious apartments and villas.

There is always a fluctuation in the property rates of Mumbai, but in the current market scenario, the prices of residential properties seem to be increasing and buyers are recommended to buy properties in Mumbai before the price value reaches its peaks. The real estate developers like Bhairaav Group, Tricity Reality Private Limited, C. Teja groups and New Home Builders & Developers are the key players of the real estate market in the area.

Future Possibilities in City

The area is one of the major hotspots in the real estate field attracting both developers and buyers to invest in the area because of its prime location in one the busiest city of India. The current real estate scenario suggests that in upcoming future the area is going to become one of the best localities in Mumbai and buying properties in the area would cost you to completely empty your wallets and still require more to invest in them. So, all buyers who wish to buy property in Mumbai are recommended to invest as soon as possible in the area.

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Area Profile of Bhiwandi Also Known As Manchester of India

Recently, the sale of properties in Mumbai gone up and the area has become an attractive location for developers to undertake their residential projects as well. Bhiwandi is famously known as “Manchester of India” due to the presence of many power looms in this region. The city has been of historical importance and even now due to its location in the Konkan area it is emerging as a major destination for buying real estate. Many people are investing in a property in Bhiwandi.

Real Estate

This small city, located on the eastern side of Maharashtra, has a wide range of 2 BHK flats in Bhiwandi and 3 BHK flats in Bhiwandi. Though there are no plots available or townships that include villa, the existing townships are offering many amenities and the apartments are built with modern techniques and elegant designs.

Developers in Bhiwandi

There are some prominent developers who have their upcoming residential projects in Mumbai and that too in Bhiwandi. They are, Krishna Space, Tata Housing, Bhumi World, AR Buildtech, and Ashapura. Many new projects are also underway in the area.

Connectivity

The Mumbai Highway connects it to the main city. Bhiwandi is also connected to other cities through roadways. There are bus services available to commute from one city to another in Maharashtra. The Nizampur State Transport Depot has many buses going on different routes like - Shirdi, Aurangabad, Borivali and through these bus routes, Bhiwandi is very well-connected to the rest of the state.

The Railway Station is located just 2 kms away from Bhiwandi. The city is also not far away from the  Chhatrapati Shivaji International Airport, which is only 32 kms away from Bhiwandi.

Educational Institutions

Bhiwandi has a number of good schools. Some of the prominent schools are - Saraswati English High School, N.E.S’s English Medium School, Peli School and so on. Some prominent colleges of Bhiwandi are, Swayam Siddhi College of Management, G.M. Momin College, B.N.N. College and so on.

Social infrastructure

Bhiwandi has a number of shopping malls, shopping complexes, movie theaters, restaurants, and hotels. So the city is equipped with enough entertainments centers and one does not have to travel great distances to enjoy these facilities. Magnet Mall and Korum Mall are some of the popular malls of Bhiwandi.

Also, Bhiwandi has an ample number of healthcare institutions. Some good hospitals that one can find in Bhiwandi are Globe Medical, Leela Joshi Hospital and Lifeline Hospital.

Why Bhiwandi is a Good Location to Buy Property

Bhiwandi is one of the oldest cities of Maharashtra and has seen tremendous growth in recent years. The rate at which new infrastructure has been created in the area is noteworthy and in coming years the city will overcome its current challenges as well. It has many good townships which have 2 BHK flats in Bhiwandi and 3 BHK flats in Bhiwandi and many home buyers are opting for them. All world class facilities are available in the townships and the flats are quite spacious offering a luxurious lifestyle.

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Top 5 Ongoing Residential Projects in Bangalore

It’s common knowledge that if you invest in the right kind of property it can fetch good returns over a period of time. So, whenever you plan to buy a  property in Bangalore or any other city, you should gather sufficient information about all the ongoing projects in that particular location.

Bangalore is counted amongst the top destinations when it comes to real estate investments. One of the reasons why it attracts so many investors is due to its multi-ethnic culture.

So, if you are looking for apartments for sale in Bangalore, then these are the five ongoing residential projects that you must definitely consider:

Embassy Springs

Price range: Rs. 1.01 crore to Rs. 2.61 crore

It’s an upcoming project in Devanahalli, North Bangalore’s serene suburbs, which spans across a huge area of around 300 acres. It was launched in June 2016 and comprises of 815 plots, apart from a good number of villas, row houses and apartments. The plot sizes vary from 2100 sq. ft. to 5405 sq. ft. Devanahalli has gained huge popularity over the years as a residential location because of its greenery, bustling business hubs and IT parks. The project is situated close to the Kempegowda International airport and is well connected to the NH7. There is no dearth of convenience stores, medical facilities, clubs, retail spaces and lifestyle amenities either.

Prestige Lakeside Habitat

Price range: Rs. 58.4 lakh to Rs. 1.32 crore

It’s a 102-acre project situated at Varthur in East Bangalore. On offer are a total of 2,903 units in the form of 1 BHK, 2 BHK, 3 BHK and 4 BHK apartments. You also get the option to buy luxury villas. The apartment sizes vary from 905 sq. ft. to 2802 sq. ft. The project is based on the Disney theme and provides a new-age living experience, featuring a good number of modern amenities like shops, golf course etc. and necessary facilities within a distance of 1 to 4 km. You also get some of the most breathtaking views of Whitefield’s Varthur Lake from this property.

Ozone Urbana Avenue

Price range: Rs. 57.7 lakh to Rs. 1.42 crore

Situated at Devanahalli again, the Ozone Urbana Avenue offers 2 BHK, 3 BHK and 4 BHK apartments, varying from 1080 sq. ft. to 2655 sq. ft. in area. It’s a 150-acre gated community that houses a total of 932 units. The project was launched in December 2015 and is under construction. It is very well connected to the other city areas and has a fairly well-developed infrastructure in its vicinity. You can find a good number of schools, offices, restaurants and shops surrounding the project. Anyone investing in Ozone Urbana Avenue not just gets a world-class living space, but also gets access to the schools, hotels, bicycle tracks, shopping complexes, restaurants and multispecialty hospital within the campus.

Bharatiya City Nikoo Homes Phase 2

Price range: Rs. 24.8 lakh to Rs. 1.10 crore

This one’s another under-construction project that spans across a huge area of 125 acres. You get to choose from 2100 units in the form of 1 BHK, 2 BHK, 3 BHK and 4 BHK apartments with sizes varying from 510 sq. ft. to 2259 sq. ft. It’s a fairly well-equipped property which houses convenience stores, a sports facility, schools, hospitals, IT parks, hotel (Leela) and much more. It’s located at Kannur on the Thanisandra Main Road, with excellent connectivity to airport, railways and road.

Brigade Orchards

Price range: Rs. 34.49 lakh onwards

Considered as Bangalore’s first smart township, Brigade Orchards in Devanahalli boasts of various new-age features including smart security, fibre-to-the-home technology and a good amount of greenery. You get to choose from various housing options including luxury apartments, retirement homes, and pavilion villas. Some of the social amenities that are offered as a part of the project are a hospital, educational institution, restaurants, sports stadium, office spaces, banquet and a club resort. It’s well connected to Whitefield, Hebbal and the international airport.

So anyone looking for a residence in Bangalore or apartments for sale in Bangalore should definitely consider the above-detailed projects.

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Why Wadala Makes For A Good Future Prospect?

Wadala is one of the prime locations in Mumbai which is developing at a tremendous pace which makes sure that Wadala will have a great future prospect, for the investors and the developers of residential property in Mumbai, Wadala has become one of the most lucrative locations. In the past five years the property market of Wadala has been constantly increasing at an increasing rate. Just a decade earlier, the price of properties was as low as on 2800 rupees per square feet and it has risen to about 14000 rupees per square feet a few years earlier. With the announcement of several developmental projects in Wadala, a huge number of people from South Mumbai have started relocation to Wadala thinking it to be the perfect destination.

The Factors of Making a Good Future Prospect

There are numerous factors that plays a significant role in giving Wadala a bright future prospect are as described below.

• First and foremost, the increase in the number of infrastructure projects have a positive implication in the market of real estate in Mumbai Wadala has gained importance as a residential destination because it lies in the vicinity of the Bandra Kurla Complex which is better known as BKC. Being close to the BKC and the development of Wadala into a commercial hub would make the demand ever – rising.

• Wadala being strategically located benefits a great deal from its good connectivity from the employment hubs located across the Mumbai Metropolitan Region (MMR). The development authority of this region has the intention of developing Wadala in a similar manner as the Bandra Kurla Complex (BKC) which will definitely increase the appeal of the place to a great extent.

• The Mumbai Metropolitan Region Development Authority (MMRDA) has already planned to divert the metro rail to Wadala and connecting it to monorail & the Eastern Freeway which is definite to make the Mumbai real estate price high. This mono rail project has played a significant role in the improvement of the accessibility to the Eastern and the south - eastern regions of Mumbai which was extremely necessary.

• Wadala is very well connected by roads and railways making it extremely convenient to travel to any of the places in Mumbai. Thus, easier and abundant transportation facilities make the future prospect of Wadala a very bright one.

• Apart from being connected excellently with all the key localities of Mumbai, the presence of high quality educational institutions, renowned hospitals, several retail outlets, shopping malls, good hospitals and supreme entertainment facilities simply changes the appearance of the place. Thus, with all the modern facilities available adds a great deal to the price of Mumbai real estate.

• One can see the several launches in the premium segment and this indicates that Wadala has gained an important place in the residential markets of Mumbai. The famous Lodha Group of Mumbai has taken up several projects here. The premium buildings with luxurious facilities like parks, swimming pools gymnasiums etc. is more than enough to be a contributing factor for the future prospect of Wadala. 

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Chattarpur is The Next Prime Destination in Delhi

South Delhi boasts of quite a few posh localities and Chattarpur is slowly becoming one of the most high in demand places Delhi. Developers had turned their attention to this region when other areas in South Delhi had started experiencing saturation and the prices there were skyrocketing. For home buyers looking for affordable homes in Delhi and particularly in Chattarpur then, this makes for a good investment option as the prices are still within easy reach but promises to give greater returns in future. The entire region has grown exponentially in terms of connectivity ever since the development of the Chattarpur Metro Station. 

The Yellow Line is a major line and traveling to and from the heart of Delhi would be made considerably easier because of it. The HUDA City Center and the Samaypur Badli are the two regions that the yellow line connects to every other place in between. Moreover, this is also one of the closest regions if one wants to get to the famous Qutub Minar, with another metro station situated close by.

Along the region, many places of repute can be found like the Chattarpur Temple and the town of Mehrauli which still attracts tourists because of its architecture. Moreover, being in the transit route to Gurgaon and Faridabad and due to it being an important center in NCR, the region is also connected through the DTC buses and other private bus routes. In spite of enjoying all the amenities of the main city of Delhi, the area is still devoid of the excessive pollution that Delhi suffers from and is also free from the relentless traffic and noise that plagues the city. Hence, owning flat will be a great move for the entire family, especially if there are children and the elderly around. Other notable areas that can be reached easily from here are IGNOU road, New Manglapuri and Andheria Mor.

The region now also has every kind of amenity that a modern Indian family can desire, with schools, colleges, banks and ATMS, hospitals and shopping malls all situated within a 20 minutes radius. Because of these factors, the rates here are also a little steep but a middle class family would still be able to afford it with the reduced bank interest rates. A modest 2 BHK flat in Chattarpur can cost around Rs. 40 lakhs with an approximate area of 850 sq feet. 

A 3 BHK flat would likewise cost around Rs. 60 lakhs but an independent builder floor might cost a little less. With the DLF farms and a number of colonies located close by, items of daily necessities are now available here with greater ease and all these factors are slowly contributing to the rise of the property prices in this locality and all these places are considered nowadays in prominent residential places in Delhi.

Nevertheless, owning a property in Chattarpur would prove to be a wise decision if one wants to stay within close proximity to Delhi, since the real estate development scenario here would only improve for the better in near future.

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Real Estate Development Projects in Bangalore: Hennur Road

The development in India has been showcased to the outside world by the means of a few bustling cities in the country. All around the world, Indians are making their home country proud by being a part of huge, mind-boggling, world-changing projects.  Due to this, there has been a lot of development in the cities of India, especially the metropolitan ones. The development in the metropolitan city of Bangalore, currently known as Bengaluru has been appreciable in the past decade. 

As the demand for housing and property increased, the rate for the property also increased. With the rapid boom in the IT sector, there was a lot of property available in the city of Bangalore, and the employees of the prominent IT companies were more than interested to buy them at any rate demanded.

Rates for buying property in Bangalore immediately went soaring through the roof, due to high demand, and the builders constructing the various towers and other residential spaces made huge money by selling the flats at prices far more than the original price, or what it was actually worth. The value of the land has appreciated manifold in the past few years, and people are lining up to buy property before the price goes over the budget.

How Does Hennur Road Come in The Real Estate Picture?

Hennur road is one of the most well-known areas in the city of Bangalore, due to the prevalence of the most important social and economic hubs around it. There is a daily influx of day population in and out of the area. There is high demand of residential space in the neighbourhood.

There are many reasons for this tremendous increase in the value of real estate in this area. One of the main reasons for this is the connectivity it provides to the rest of the city. Also, it is an area which is very close to some of the major IT parks in the city. It’s a well known fact the Property in Bangalore, is very costly and these include the rates of apartments in Bangalore. Another major reason as to why this area is on the top of the “most sought after places in Bangalore to live” is the fact that it is situated right in the heart of the city, which makes it extremely close to all the important and well known commercial, economic and entertainment centers of the city.

Property in Bangalore has always been costlier than the property in other states. This area, being much in demand, has a lot of potential in the future. The upcoming projects are definitely going to serve as a big boost to the real estate of Bangalore. Upcoming ventures also include a lot of commercial complexes along with residential spaces in Bangalore, especially in Hennur Road.

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