Month: June 2017
Manesar Real Estate Market
Manesar is one of the fastest growing townships in India and is a part of Delhi NCR. After Gurgaon, Manesar has caught the eye of Haryana Government and has become the new centre of developments.
Many eminent real estate developers are planning to invest in Gurgaon-Manesar Expressway. Builders like Unitech, Raheja, Vatika, DLF and various others have bought land in Manesar to create townships.
The upcoming projects like Expressway to Jaipur and SEZs are bolstering up the value of property in Manesar. These projects are undertaken by Reliance, DLF, Unitech and Raheja and are helping in boosting the property prices in Manesar already. In fact, according to survey held recently, Manesar ranked among top 3 choices of investors for property investment.
Manesar, from a small village is soon scoring its place among major outsourcing hubs in India. This transformation could happen due to the rising needs of industrial and commercial sectors. IMT (Industrial Model Township) is the main attraction of Manesar for industrial buyers as it now houses more than 500 industrial units.
Upcoming investment plans in Manesar:
Large numbers of corporate leaders like Nippon, Baxter, Stanley, Toyota, Mitsubishi, etc have setup their business units in Manesar.
With already being a home to largest car and motorcycle manufacturers namely Maruti Udyog and Hero Honda, another corporate honcho, Suzuki is also coming up with plans to invest Rs. 2500 crores in Manesar.
Also, Japanese majors and other multinational companies like Samsung Telecommunications will soon establish a unit worth Rs. 850 crores in Manesar to commence the commercial production of their products.
Next in the pipeline are Honda Motorcycles and Scooters India with a plan of pumping in Rs. 300 crores in its plant in Manesar to improve its capacity.
As happens with every developing city that the demand for residential property is upped due to commercialization, the trend is well followed by Manesar too. The professionals employed by the multinationals generated the need for housing and apartment accommodation. The rapid development of both commercial and residential sectors in Manesar has made it extremely popular among property developers as well as property buyers. The boom in real estate market is at its peak and this is what makes of property in Manesar sell like hotcakes.
An industrial and commercial hub:
Manesar is now known as an industrial and commercial hub of the city and has long ago shredded its image of a village. Earlier, no one had ever thought that a small city like Manesar could hold such potential for real estate market. There could be many reasons for this metamorphosis:
When Delhi became congested, leading companies moved to nearby areas around the national capital. It went on to develop Gurgaon property market by carrying their operations there and when again it was exploited enough, they moved further to Manesar. Therefore, hefty investments from various MNCs and setting up of major establishments in the city led to its conversion into New Gurgaon as called by many over the past few years.
Hike in property prices:
The property rates have doubled and even trebled in some areas in Manesar and have jumped from Rs. 20-25 lakhs per acre to Rs. 1.10-1.40 crores per acre. In just few months, commercial property prices have hiked by whole 35-60% and residential property by over 35%.
Infrastructural Developments:
The construction of 135 km long Kundli-Manesar-Palwal (KMP) Expressway has further augmented the property prices in Manesar Property. This would be the longest expressway of India and the most expensive too.
Real Estate projects:
Corporate Tower
It is expected to fulfill business requirements of shops, offices, etc.
Commercial Towns
HSIIDC would develop 12 commercial towns.
Townships
DLF City is planning to develop a huge township while Vatika would undertake construction of plots and villas.
Karma Lakelands
Unitech would bring in Ultra Luxury villas with an 18 Hole Golf course.
Manesar is seen as the next generation IT-ITes destination and is conveniently located. It has become one of the most preferred places to invest money in for both buyers and investors.
Building a Home Hiring the Right Company(s)
No one needs to tell you that building a home is a large endeavor. It’s one of life’s greatest, and though it’s a very daunting one, it’s also a lot of fun. Though, if you want it to be more of the latter than the former, you have some very important decisions to make. It all starts with choosing the right company. This can be extraordinarily difficult if you haven’t built a home before. There are some traits that every company should exhibit if they’re going to get the contract, and we’ll point some of them out to you in hopes that you make the right decision.
We’ll also give you some things to think about as you’re getting everything started, as well as things to look out for as the project moves along.
Which Company?
When you’re designing and building a home, you’ll want to choose the company that is easy to work with and has the aptitude to get the job done. Both of these go hand in hand, and neither should be sacrificed for the other. It can be hard to test whether or not they’re easy to work with, but a lot of that has to do with how well they interview. Their work should speak for itself; it’s important that they have a fantastic portfolio that -wows- you. Considering that your home is a place that you’re going to be spending a substantial amount of time in, you have to be thoroughly impressed with their work before you proceed.
These days, companies should also be very versed in energy-efficiency. Not only should they be very knowledgeable when it comes to the Department Of Energy’s standards, but they should also be concerned with things like SEER ratings, ENERGY STAR products, and some of the most proficient techniques for insulation and preventing air leakage.
Architects and Designers
Some people find that it is best to avail the services of an architect, others may not. This is something that you’ll want to determine for yourself. It should be said that there are a lot of plans out there that may be perfectly fine. Be sure that you consult with the winning bidder, as they may have some concerns that will help you frame an opinion. The company may also have some architects that they like to work with. This only heightens the reason why talking to them first is the best idea.
As far as interior design goes, you have the option of bringing in your own or using one that the company has. Interior design is important, and most people find that bringing in their own is a good idea, though you may find that the builder’s company is a bit cheaper, though there is the chance that they’re not as good. But, the builder’s company work better together, and that’s something that you should think about.
Building a home requires many different facets, though if you keep a level-head about it all, you’ll find that it’s one of the most fulfilling things that any person could possibly do.
Population Spurs Guwahati Real Estate
Guwahati, the capital of Assam is the most important destination of Northeast India. It is surrounded by the Seven Sister States- Nagaland, Aruncahal Pradesh, Meghalaya, Mizoram, Tripura, and Manipur. Guwahati is famous for its rich coal reserves, natural gas, oil industry and tea plantations. Being the largest city of Assam, it is the industrial, educational and commercial hub of the state.
Guwahati is located on the bank of the Brahmaputra River and is heralded as a corridor to the entrance of northeastern states of India. It is one of the most rapidly developing cities today as large scale investments in real estate in Guwahati and nearby areas are being made. The primary reason for such growth is the ever-growing population of the city. This considerable increase in population happened because:
Guwahati is the economic centre of the state and so, the most preferred destination for migrants in Assam.
The fast paced development of industrial sector attracted more number of professionals to the city. These employees then generate accommodation needs leading to rise in demand for residential property.
Guwahati is home to some very prominent educational institutions of the country like IIT and other world class colleges. Students from everywhere throng the city while resulting in higher demand for housing spaces.
Knight Frank, a leading global property consultant observes that the immense rise in population has in a way proved beneficial for Guwahati property market. Large numbers of residential units comprising individual houses, apartment buildings, etc. are developing fast in the city. High street retailing is also flourishing with various departmental stores, supermarkets and large format stand-alone stores being established. Organized retail has also been growing with apparel stores and food and beverage chains setting up their flagship stores in the city.
Though Guwahati hasnt seen an IT wave as prevalent in other cities but FMCG, insurance and financial companies have been taking interest in bringing their operations to the city. Many more are scouting for vacant land in the city to settle their presence in the city as central locations have almost reached saturation levels. The peripheral areas of the place are on the path of becoming new hotspots for real estate development. Due to such large-scale growth, hike in rates of property in Guwahati have been recorded from past few years.
The noteworthy developments among the residential projects that have shaped in the city in the residential sector include the following:
Guwahati Metropolitan Development Authority (GMDA) has come up with a Games Village at Sarusajai consisting of 700 residential units.
Another project by Brahmaputra Constructions comprising 150 apartments on RG Baruah Road is another important project.
Various infrastructure development projects are under progress to develop this upcoming region of Assam. The Games Village Township would further generate commercial developments in the area. Some national level retail corporations and international brands are also expected to enter the Guwahati real estate market soon. Moreover, local property developers are building up many residential and commercial projects like Riscon Villas, Southern Retreat, Protech Park, Agrim Residency, Uttarayan Greens, Zenith Heights, The legacy, Royal Circle and many others. In addition to these, Divine Plaza in Ganeshguri, Vishal Megamart at Paltan Bazar, Shopping centre called Hub at Bhangagarh, multiplex named Dona Planet, etc. will open shortly.
Guwahati witness huge migration from around the country, especially from north eastern states. These developments are instrumental in accommodating this population and in supporting the economic growth of the city. Property in Guwahati is all set for a higher boom and comes across as an ideal time for investments in property.
Be Cautious Before Paying Shop Rent!
Even a shop owner has to pay rent for setting their shop in a mall or a shopping centre. It is the better option than settling the shop at your house which is not a secure market place. Paying rent for shop is the better option as it not only provides you with the security but also provide you a market to expand your business. Before paying rent for the shop, it is very important to consider the following things:
Before giving rent for the shop, it is better to check the space that you are taking for the shop. It is very important to consider that the space you are considering for your shop should be enough according to your requirements. It should not be too small that the clients feel discomfort and at the same time it should not be big enough that it just simply goes waste. Consider the shop for rent, according to the product that you will sell, number of employees require in the shop and other pre requirement of the place.
It is very important to do research and compare the various shop rent rates from various shop owners and then go for the final deal. The shop rent rates are fixing based on the location of the mall, its popularity and many other factors. Thus, it has different charges by different shop owners, it is better to contact an agent and ask them for fixing the rates, so that you can get the best shop rent rates.
Another thing to consider before going for rent shop is the condition of the property. It should not be in a poor condition; otherwise, you have to invest more money on its repair. Although in this condition, you can also ask the shop owner to reduce the rent rate of the shop or can search for another deal but everything should be clear beforehand.
Take the time to research the location and shop rent rates very carefully to be sure, that it is a solid business investment and will not eat into your capital and leave you with some profit at the end of each month.
Apart from consider all these things before paying rent for shop, it is also important to consider online agents that guide you and make your work easier. They will be able to negotiate good rates for you and make sure that the contract both parties sign is legitimate and water tight.
About That Septic and Sewer Odor Lingering Outside Your House
The roof vent and yard based septic vent is a necessary part of your plumbing system. The job of the plumbing vent is to enable the pressure in your drain system to equalize. When water and waste flows down your drains, pressure in your plumbing drains increases as the air in the system is displaced by water and waste. Without the plumbing vents, the drains would gurgle up into your sinks, tubs and toilets. The plumbing roof vent and yard based septic vent is also a place where septic gases and sewer gases exit the system safely. These gases are a natural byproduct of the bacteria that break down the waste in either your septic system or sewer line. Because of this naturally occurring cycle, the septic and sewer gases have a foul odor.
Normally, the gases are carried up and away from the system’s vent pipes. However, under certain conditions, these Hydrogen Sulfide (also known as H2S) and Methane gases might be pulled down into your yard around your home or place of business. There is also a new style septic system design called a pressure dose septic system. This style septic system is becoming more popular as it utilizes both a solids and a liquid septic tank. By separating the liquid from the solids, it allows for a cleaner liquid to be pumped up into the leeching field allowing the leeching field to be significantly smaller than would be necessary in a standard septic system. For safety reasons, this style septic system requires that the liquid tank be vented to purge the Hydrogen Sulfide and Methane gases away from the electronic pump found in the septic tank. With pressure dose style septic systems, the septic gases are purged directly to the yard through a vent causing unpleasant odors, even under the best of conditions. This septic vent is typically located somewhere in the yard near the liquid tank.
If you notice foul odors coming from your septic vent, don’t assume that you have serious problems with your septic system. As we mentioned earlier, Hydrogen Sulfide is a normal by-product of the breakdown of wastes occurring within your septic system. In certain situations the Hydrogen Sulfide that would normally exit your roof vent and be carried up and away, will actually be pulled down into your yard creating not only an annoying problem, but also an unhealthy living environment. (For health information concerning Hydrogen Sulfide see The Toxicology of Hydrogen Sulfide.) Different climate conditions, such as temperature variances and change in wind direction, can direct the gases back toward your living area. This problem can be magnified by the location of your home as well. If your home is located against a hill or near objects taller than your roof vent, negative pressures can naturally develop pulling the septic gas or sewer gas down from your roof vent and into your yard or place of business. In the case of sewer lines, since they don’t utilize plumbing traps, your home or building’s roof vent can be an exit source for not only the sewer gases created within your structure but for all the homes and structures on your main sewer line.
While you can’t stop the creation of septic and sewer gases, you can eliminate the odor that is caused as they exit the roof or septic vent by installing a roof vent filter. There are number of companies that manufacture these products, Simple Solutions Distributing (disclosure, I am a partner in this company) manufactures a number of different size filters available for homeowners at IndustrialOdorControl.com.
Other companies that manufacture these types of filters are OdorHog.com and SweetAir.com.
Capitalisation Rate In Real Estate And How To Calculate It
Capitalisation rate is the percentage figure used to find out the current value of a property based on a figure of future net operating income. When divided with the capitalization rate, the net operating income of a real estate property will provide the approximate market value of the property.
When determining the capitalization rate of a property, the rates applied to real estate properties of the same nature sold most recently is used. When determining the capitalization rate, the sales value of an asset sold most recently is divided by the income it generates decisions. This provides a more objective way of valuing real estate properties which can be used not only by the seller but also by the buyer alike. It will assist the seller get the right piece for his investment while the buyer prospective buyer will use it to make informed decisions as to whether or not the value of the property is properly estimated.
This acts as a good base for estimating the value of income generating real estate properties when buying or selling. By looking at the sales price and income of other related properties located in similar environment, you can come up with an acceptable capitalization rate that will enable you determine the value of your asset based on the current income.
Determining the capitalization rate need not be an arduous task. You can start by collecting the statistics of recently sold properties in similar or the same locations as your property. The chosen property should correspond with that of your property. You need to determine with high degree of accuracy the net realizable rentals by the owners of the property. For instance, you can take the net rental income realized by the owners to be $30000.Get the sale price of the asset and divide the net income by the sales price. This will give you the capitalization rate. If in this case the property was sold at $900000,you have it divide by the net income of $30000,the resulting figure will be 0.33.Then convert this figure to percentage points by multiplying it by 100.This will give you a capitalization rate of 3 percent.
Capitalisation rate have become a great help to the owners of property owners who have the intention of selling them. Without capitalisation rate, it would be hard to value real estate assets. Many people would be deceived to accept lower prices by the buyers of the same properties. Since you will use other properties that are independent from yours when working out the capitalization rate, you will be assured of a better return when you finally decide to dispose your property. The determination of this rate need not be a headache. The procedure is quite simple. Get the net income of a real estate property sold in recent times and divide it with the sales value. Then you convert the figure obtained to percentage form. This figure will aid you in working out the real market value of your asset.
Hike in Collector rates – Property market in Zirakpur suffers
Hike in Collector rates – Property market in Zirakpur suffers Owning a property in chandigarh has become a costly affair as the collector rate and the fee for getting building plan approved has been hiked by the authorities. A common man who is thinking of owning a small residential house in this region is hit badly by the hiked collector rates. Imagine, before April 1st, 2011, owning a small six Marla (150 sq yards) plot could be accomplished with the payment of Rs 75,000 (as collector rates) as compared to Rs 1,35,000 today for the same. The buyer will have to also pay Rs 45,000 for getting approval for building plan. The information about the hike is drafted on the basis of categories focused on location, for example the location of the property in concern is on the main road, on the link road, their placement in the municipal limit of Zirakpur etc. Registration rates for the land on the main road have been increased from Rs 1 cr to Rs 3.5 cr per acre. Similarly, the land rates have been fixed at Rs 1.5-2 cr per acre for the inner parts of property in zirakpur. Collector Rates Zirakpur Property LocationsPrevious NEW Main Road ( Per acre)Rs 1 cr3.5 cr Agricultural Land in Inner parts ( per acre)Rs 1.5 crRs 1.5-2 cr Commercial Property ( per sq yard)Rs 9,000Rs 18,000 Residential plots in named colony ( per sq yard) Rs 5,000Rs 9,000 Independent residential plots ( per sq yard)Rs 4,500Rs 8,000 Building Map Fees Residential Plot SizePreviousNEW 50-125 sq yardsRs 80Rs 323 flat rate for all sizes 250 sq yardsRs 213 Commercial plots All sizes Rs 350RS 2,815
For commercial properties the rates have been increased from Rs 9000 to Rs 18,000 per sq yard. The rates in approved residential colonies have been increased to Rs 9000 from Rs 5000 and for residential sites without any name of the colony; the rate has been fixed at Rs 8,000 per sq yard.
Hiking and fixing a same cost for building map approval fees for all sizes of plots will have direct impact on the property owner of small residential houses as it was Rs 80 instead of Rs 323 per sq yard now. For commercial property, there is a substantial hike in the rates; it has been increased from Rs 350 per sq yard to Rs 2,815 per sq yard. According to property consultants, -an end customer / buyer in the region would opt for flats in developments instead of plots due to hike in collector rates and building map approval fees-.
Home Builders Lakeview Homeowners Recommend
The whole process of home ownership entails a lot of intricate details that without the understanding of the process and proper information, it can be discouraging to proceed. Building a home while carrying with it an unparalleled excitement can also be a complicated and challenging venture. The process will begin with finding the right location for the home you are building. This means you have to find the land developer on the location you are targeting to see your home standing.
Next step would be finding an architect to design your home based on your projections and images of what you need and require for every part of the house. Discussing all the details with the architect will help him draw up a design with the corresponding floor plans which should be exactly what you were imagining it to be. No details should be left out so that the architect can integrate and include all the specifications that you have given pertinent to the houses appearance, function and use.
Having the floor plans ready is a signal for you to finding home builders Lakeview are teeming with and start interviewing them for short listing. You can start asking friends, relatives or colleagues who they know can be a good home builder for your project. You should be able to shortlist three home builders from which you will pick one to build your home. Checking their credentials, qualifications, licenses, permits, insurance, home portfolio, list of clients, and credit standing should provide you with a good judgment on the right home builder for your project. You can ask for the addresses of their recent projects and an ocular inspection will make you see the quality of workmanship they have. Asking the owners of those projects will also help you gauge their capability.
Having asked the home builders Lakeview homeowners have recommended for quote on the project, you can make a comparison to see who submitted the best offer. This part is critical as you need to understand and be clear that you and the home builders are on the same page in terms of the materials, construction methods, estimated completion date, etc. The last thing you would want is any misunderstanding on any of those things as that could cause you additional expense, disappointment or dissatisfaction. Whenever you discuss anything with the home builder, you should take down notes and ask them to confirm in writing what had just been discussed and agreed upon.
After you have chosen the home builder with the best offer, take time to arrange for a lawyer to draft a contract for you and the home builder, spelling out all the terms and conditions agreed upon, from starting date, to material procurement, method of payment, to completion date. Make sure that all the stipulations are properly reviewed before signing. At this time, your home builder will have submitted all documentary requirements pertinent to their permits and licenses, insurance coverage, etc. An important first step for them is securing the permit for the construction of the house before any activity commences. During construction, you have to initiate periodic inspections to make sure that work done and completed is according to the working plans.
Essentially, the success of having your home built according to the specifications lies on a good knowledge of what the plans specify. You may arrange for the architect to make periodic inspections as well to verify that the right materials were used, proper construction procedures were followed. The quality of your home will greatly depend on its level of adherence to the plans. By completion date you should be able to see your dream home standing proudly just the way you imagined it in your mind.
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