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Developer Watch – Sobha Is One Developer To Watch Out For

Sobha Limited which was previously known as Sobha Developers Limited, Indian multinational developer in the field of real estate. The company changed its name from Sobha Developers Limited to Sobha Limited on the 18th of August 2014. Sobha Limited is one of the best real estate developers in India which has its headquarters in Bangalore. Since its inception in the year 1995, Sobha Limited has completed a total of 102 real estate projects and 262 contractual projects, the total area of which is 70.54 million square feet. Sobha Limited has several projects that are upcoming in the near future and it is sure that many more are yet to come in the future as well. Thus, this is one of the developers of India to watch out for as time passes by.

About Sobha Limited

Sobha Limited is one of the most well – known property developers in India which was founded in the year 1995 by P N C Menon. Presently, the company has a real estate presence in nine cities that are as mentioned below.

  1. Bangalore
  2. Pune
  3. Coimbatore
  4. Calicut
  5. Mysore
  6. Cochin
  7. Gurgaon
  8. Chennai
  9. Thrissur

In all, Sobha Limited has a footprint in 24 Indian cities and 13 states across India. Talking in an international level, Sobha Limited has been running its operations in three places that are as mentioned below.

  1. Oman
  2. Singapore
  3. Dubai, United Arab Emirates

Sobha Limited has achieved growth along with backward integration in the construction business and with the business of real estate developers in India. Most importantly, Sobha Limited has executed some projects which are some of India’s best and most prestigious corporate houses. The list of corporate houses includes Wipro, HCL, Infosys, Bosch, Dell, Biocon, Taj Group of Hotels and ITC hotels. This makes it very clear that Sobha Limited is one of the best developers in India.

sobha group

Types of Projects of Sobha Limited

The types of projects developed by Sobha Limited are classified mainly into two types. One is residential and the other is commercial. Each of the type is as described below.

Residential Projects – As the name indicates, the residential projects are developed for the purpose of living. The different types of residential projects under Sobha Limited are as follows.

  • Presidential Villas
  • Luxury Villas
  • Row Houses
  • Premium Villa Plots
  • Apartments
  • Townships

All these residential projects are spread across the nine Indian cities that are mentioned before.

Commercial Projects – The commercial projects by one of the best property developers in India, Sobha Limited are as mentioned below.

  • Hotels
  • Resorts
  • Shopping Complexes and Shopping Malls
  • Corporate Offices
  • IT Parks
  • Multiplexes
  • Training Centres
  • Convention Centres
  • Food Courts
  • Hostels
  • Academic Institutions

Manufacturing – Besides real estate business, Sobha Limited have also started manufacturing divisions which are as follows.

  • Glazing and Metal Works
  • Interiors
  • Spring Mattresses
  • Concrete Products

Contractual – The contractual business services of Sobha Limited includes the following.

  • Designs and Architecture
  • Civil
  • Electrical, Mechanical and Plumbing
  • Landscape

Thus, it can be very well understood that how rapid is the business of Sobha Limited is expanding.

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Where to Invest for Greater Benefits – Salt Lake or New Town?

With the launch of several new residential projects in Kolkata, the city has become one of the preferred destinations for real estate market in the country. Factors such as excellent connectivity and continuous developments in terms of social infrastructure and growth in the overall real estate market are drawing prospective home buyers in the area.

Connectivity is major boon in the Area

Planning to invest in residential property in New Town is a good decision because the area offers great connectivity to the residents primarily via Rajarhat Main Road and the EM Bypass.

  • The Netaji Subhas Chandra Bose International Airport is situated at a close proximity to the area. A flyover has been built in Action Area-I and there are proposals for several expressways and flyovers to ease traffic congestion in the region.
  • Bus transport facilities are readily available here.
  • There is a proposal for extending the Circular Railway from Bidhannagar Road or Ultadanga to New Town through Salt Lake and Lake Town.

The entire zone is dotted with several IT Parks and companies such as the DLF IT Park, TCS, Capgemini, Genpact, Accenture etc. Eminent developers in the area such as Team Taurus, Shapoorji Pallonji, DLF, Tata Housing and Srishti are coming up with several premium, luxury and ultra luxury projects. Some of the prominent projects for sale in Newtown are Arya Rajwada Sky, Shrachi Restello, Unitech Air and Shristi.

The flats in New Town are priced between Rs 6,000 per sq ft to Rs 3,800 per sq ft. One of the notable developments in the area is the construction of the New Garia-Airport line of the Kolkata Metro extension project that will be passing through the New Town area. New Town has been declared as a Solar City and expected to be known as a Smart Green City very soon. There are several educational institutions and recreational parks in the area. Well known hospitals such as the Tata Cancer Centre and Ohio Heart Hospital are also situated here. Considering all these factors, one may think of investing in residential projects at New Town.

On the other hand, Salt Lake City has clean and well-maintained roads and sanitation, relatively pollution free environment, shopping malls such as City Centre and a vast array of government offices and IT sector that cater to the entire city of Kolkata. S.D Construction Pvt Ltd, Salimji Construction and M.S Construction are the leading builders and developers in the area. The area is well-connected to other parts of the city through the EM Bypass. The area is served by state-owned and private buses, taxis and auto rickshaws. The nearest rail station is Sealdah Railway Station which is situated only 8.5 km away from the area. Netaji Subhash Chandra Bose International Airport is only about 12 km from the area. Current property rate of flats in Salt Lake City is around Rs 5100 to 5822 per sq ft.

Although, both New Town and Salt Lake are good options for investment, but it may be concluded that investment in New Town is more beneficial due to factors such as excellent connectivity, good social infrastructure and world-class amenities.

Finding Affordable Homes in Indore gets Simpler

With the revision of home loans and policy boosts in the Union Budget, the real estate market is poised to be user-centric and affordable. Not long ago, property in Indore was largely a luxury-centric market, but recent policy changes have made housing affordable. The demand for residential property in Indore real estate sector is slowly increasing due to various influential factors like demonetisation, subsidisation of home loans, and fall in interest rates. If you are planning to purchase a new house in Indore, this is the best time to take action.

The new changes made by the Government have done more than just succeed in revamping affordable housing in Indore. The policies have also helped increase the demand for homes in the city.

Indore to Experience a Rise in Demand for Affordable Housing

  • Home loans become affordable thanks to demonetisation: The recent demonetisation has led to a drastic rise in the cash flow to banks. Individuals hoarding black money were compelled to deposit their money to avail of the new currency. As a result, banks were flush with cash, which in turn led to a fall in their interest rates. This has made home loans more affordable leading to an increase in the demand from those seeking to purchase a home.
  • Change in tax rules: Earlier, properties that hadn’t found buyers yet were also taxable. Once a property had been initiated, the builders had to pay tax even if it remained unsold. This caused builders to pass on the tax burden to consumers by charging higher prices for flats. With the recent tax changes in the union budget, builders are no longer liable to pay tax on unsold properties. This could help facilitate a dip in property prices and as a result, make flats more affordable for customers thereby increasing the demand.
  • Subsidisation of housing loans: Earlier this year, the National Housing Bank announced that it would refinance housing loans amounting to Rs. 20,000 crore. This move is meant to enable lending organisations earn adequate subsidies and offer lower interest rates. As a result, home loans will become much more affordable for the middle-income group and empower them to purchase new homes without any hassle or worries. This will also help increase the demand for homes, as borrowers are likely to be less hesitant to avail home loans.
  • Introduction of MCLR interest rates: The base rate system was prevalent in the past, but now, the Government has made marginal cost of lending rates a norm for banks. The base rate systems bound lending organisations to a specific rate of interest, below or above which they could not do any business. The MCLR system for home loans, however, enables lenders to calculate their various costs of operation and even include a profit margin in the interest rate. This move is aimed at helping to reduce interest rates on home loans and could potentially increase the demand for such loans and in turn even stimulate the demand for property.

Overall, here are the best localities to invest in, considering growth in property value in Indore:

  • Bicholi Mardana—20% increase in property value over 4 months.
  • By Pass Road—4% increase in property value over 4 months.
  • Mahalakshmi Nagar—2% increase in property value over 4 months.
  • A B Road—2% increase in property value over 4 months.
  • MR 11—1% increase in property value over 4 months.

If you are looking for the right property in Indore, let Bajaj Finserv Homes and Loans portal help you. It provides on-site assistance, help with documentation, and a huge category of available properties to choose from. Make your property search in Indore easier by visiting Bajaj Finserv Homes and Loans portal, and also get access to easy financing.

Developer Watch- Lodha Group Continues To Scale Lofty Peaks

Lodha Group is one of the supreme real estate developers in India which was established in the year 1980 in Mumbai, India. Lodha Group lies among the top real estate companies of India which is particularly famous for its high – class residential and commercial projects. Most of the properties of Lodha Group are located in and around Mumbai in the Indian state of Maharashtra. The Group also has its presence in Hyderabad and Pune and is expanding to Bangalore as well. Internationally Lodha Group is present in the United Kingdom. Its presence in London makes it particularly very famous in India and the company’s growth is simply worth noticing in the recent times.

About Lodha Group

Lodha Group was founded by Mangal Prabhat Lodha in the year 1980. Mangal Prabhat Lodha was born on the 18th of December 1955 was a famous India politician and vice – president of the Bhartiya Janata Party (BJP) in Maharashtra came to establish this company in the year 1980. Abhishek Lodha, the son Mangal Prabhat Lodha is in charge of the development of the company in Mumbai. Lodha Group is one of the best real estate developers in India and is among the top select multinational real estate developers in the world with its presence internationally in London. Currently, there are 28 ongoing projects in London and within a span of few years of time, it might achieve new heights. The company is one of the most profitable real estate developers in India and has the record of being the largest by sales for consecutive three years in a row. Presently, Lodha Group is developing an area of around 43 million square feet of prime real estate.

Lodha-New-LOgo

Types of Property of Lodha Group

Residential and commercial properties are the two types of Lodha Group properties in Mumbai. The residential properties include world class housing facilities such as apartments and townships with all the luxurious facilities that one can dream off. The commercial properties include the premium spaces of various corporate giants and signature offices for the different multinational companies. In London, Lodha Group is only dealing with residential properties at the moment.

It is not easy to lie among one of the best developers in India but Lodha Group has achieved this in quick time since its inception. This vision of the group is to build a better life and the complete team works with utmost dedication to make it the best in the field of real estate in India. Lodha Group has not only played a significant role in the development of real estate in India but also it has played a vital part in social welfares as well. Corporate social responsibility is undertaken by the social initiative wing of the Lodha Group known as the Lodha Foundation. Lodha Foundation established in the year 2007 has its prime focus on the development of health, education and livelihood. These developmental initiatives are undertaken by Manju Lodha who is the chairperson of Lodha Foundation and is the wife of Mangal Prabhat Lodha.

Is it worth to make Investment in Badlapur, Mumbai

Badlapur is in the Thane district and is an upcoming locality that owes to its proximity to the upcoming Panvel- Badlapur Highway, local train connectivity and commercial activity in the area. The locality is in the advanced stage with superior infrastructure in projects, basic amenities like schools, banks, hospitals, local market nearby etc. The developers as well as prominent buyers who want to buy residential property in Mumbai has found Badlapur quite a profitable location to invest in. Badlapur is the fastest growing city in the Mumbai Metropolitan Region (MMR).

Experts say that a 1BHK with an area of 550 sq ft is available for Rs 17-18 lakh in Badlapur. Meanwhile, a new project with an area of 640 sq ft is in the range of Rs 20-22 lakh. As far as the infrastructure is concerned there is an underground drainage line coming up in the locality. 3 lane roads are also developing in order to provide better road connectivity. MIDC has come up with an industrial area within the limits of Kulgaon Badlapur Municipal Council.

Property Prices in Badlapur, Mumbai

The Mumbai property rates highly depend on the fluctuation of property prices in Badlapur as well. As per random public survey Badlapur has become the second preferable residential city after Dombivli in Thane district. In last 3 to 4 years, Badlapur property rates has increased minimum up to 30 to 40 percent. In next 4 years, property rates are expected to rise up to 30 to 40 percent due to growing demand of Badlapur city. Mumbai real estate is seen to be recklessly investing a huge sum in the projects of this area. People prefer Badlapur city as First Home however, the city is totally fit for Second Destination due to Pollution Free, Green Environment and Cool Atmosphere.

Connectivity

By roadways Badlapur is well connected to Thane and Mumbai-Pune Expressway.

  • It is also connected to Navi Mumbai through Mahape. Neral-Badlapur road is the bridge between Kalyan and Karjat.
  • The drastic and impressive development of NH-8 Arnala-Virar-Shirsad, SH-35 Kalyan-Badlapur-Karjat-Hal Phata, and SH-43 Katai-Naka-Badlapur and SH-38 Karjat to Hal Phata, under the Extended Mumbai Urban Infrastructure Project by Metropolitan Region Development Authority (MMRDA) has been a huge turning point.
  • The proposed Monorail at Central suburbs connects Badlapur to Bhiwandi or Thane or Kalyan to Badlapur. Badlapur is about 50 kms from international airport and about 30 kms from the proposed Navi Mumbai airport. Badlapur is experiencing a steady growth in the real estate sector due to the approval from Mumbai Metropolitan Regional Development Authority for several developments of infrastructures in Badlapur.

Today, the town comprises of the erstwhile villages of Badlapur, Kulgaon, Belavali, Manjarli, Katrap and other smaller villages. And this area has given a huge boost to the Mumbai property rates. More people, who work in Mumbai and want 2 bhk in Mumbai, are now preferring to buy in near area Badlapur East. So Badlapur East has become the next stop for the discerning home hunter after Thane, Kalyan and Dombivli. Nature lovers are always attracted towards the location that witnesses natural beauty around itself with greenery, waterfalls, hilly region etc. Investors prefer such locations to enjoy their vacations and weekends or live a peaceful life after their retirement or renting it out for that matter.

Affordable Housing Destinations in Navi Mumbai

We all know how costly Mumbai city actually is to live in. To get a proper apartment in Mumbai the price you need to pay is huge. But in recent days the real estates in Mumbai are becoming a little bit affordable for the common folk. The main reason for huge price hike in Mumbai Real Estate sector is Mumbai being the financial capital and the living space in Mumbai is pretty less comparing with the population of the city. In case of Navi Mumbai, we can say that, flats for sale in Mumbai are in your reach. So, let me give you an idea about the localities of Navi Mumbai where you can buy affordable homes and a rough rate analysis of those places.

Navi Mumbai is on the west coast of Maharashtra covering 150 km of the total 720 km of Konkan coast. CIDCO (City and Industrial Development Corporation) have divided Navi Mumbai in different zones.

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Different Zones in Navi Mumbai

Here are the zones where most affordable housing can be found.

  • Kharghar: -This locality is well planned and well developed by CIDCO. Divided into 45 sectors Kharghar is one of the well-designed regions of Navi Mumbai. Average buy price is Rs. 7650/sq.ft for apartments and for houses the range is in between Rs. 6500 & Rs.7300 / sq. ft. This locality has proper connectivity with bus routes linking to proper Mumbai city, has Medical facilities like Tata Memorial Hospital, near about 18 educational institutes (including NIFT) and shopping zones. So, this is a good choice for housing at Navi Mumbai.
  • Panvel: -Panvel is located in Raigad district of Mumbai Metropolitan Region (MMR). This place is highly populated and is a good mixture of residential and commercial areas. DAV, New Horizon, Buddhist International are some reputed schools here. Medical facilities are proper. It has close proximity to the Mumbai-Pune highway. Panvel has two regions; Old Panvel and New Panvel. Panvel real estate rates are about Rs. 5230 / sq.ft. Also the future prospect of Panvel is very good.
  • Ulwe: -This locality is one of the fastest growing localities of Navi Mumbai. It is also in Raigad district. Well connected to other parts of Mumbai. Price ranges for apartments are in the ballpark of Rs. 5900 / sq. ft. in case or apartments and Rs. 4500 / sq. ft. in case of residential houses.
  • Taloja: -Taloja like other nodes of Navi Mumbai is properly planned and well organised. Connected with other regions of Navi Mumbai via bus routes and train stations. The price of the apartments range between Rs. 4300 & Rs. 4550 / sq. ft. Mumbai Real Estate rates may touch the sky but here it is quite affordable in terms of living. 

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  • Airoli: -It is also well developed residential and commercial zone of Navi Mumbai. It has two chief residential areas namely Airoli village and Diva Village. Connectivity is great.  This region is well known for the hub of IT parks and educational institutes. It parks namely, iGate Knowledge Park, Print city, Reliable Tech Park and educational institutes like St. Xavier High School and the New Horizon Public School are well known here. Medical facilities are quite good also. The rates of apartments vary in the range of Rs. 7600 to Rs. 15000 / sq. ft.
  • Seawoods: -It is also one of the most developed nodes of Navi Mumbai. God connectivity to Mumbai city via railway station, god hangout spots and restaurants are prime features of Seawoods. Reputed schools like Delhi Public School and Ryan International are in the neighbourhood along with Seawood Hospital. Property rates vary in between Rs. 9500 & Rs. 11000/ sq. ft.    

So, here are some locations where you can find best Low Budget Housing in Navi Mumbai amidst uncountable flats for sale. Select your favourable locality and book your own apartment. Best of luck!!

Tips on Getting Home Loan Sanctioned Faster

With more and more people wanting to buy their own residential property in Mumbai, Delhi or any other city developed by the real estate developers in the multiple new projects which are coming up these days, the requirement of home loans and the respective interest rates has also gone up. These days banks offer full loans for owning the house but the interest rates are high and the repayment periods short, making the EMIs shoot through the roof. As more and more people race towards getting their loan applications approved, banks are also being cautious about the rate at which they sanction the home loans and do that only after careful scrutiny and background checks of the opting individual. This made getting the home loans a cumbersome, tedious and tasking process which is full of paper-work and multiple visits to the bank branch. However, given below are certain tips which can help you save a lot of time and energy and get your home loan sanctioned easily.

 

  • Go through the bank’s website, check the available home loan rates, repayment slabs, the flexibility and various other aspects of home loans before actually going to the bank. This will help you be prepared about the available options and since most of the information is available on the internet nowadays, it is easier to go to the bank well prepared than without any knowledge. Also, by going through the various websites you can make sure that you choose the best plans from the best banks so that you get the cheapest deal from the many offer and you don’t have a tough time repaying your loan on your house built by the builders in India.

 

  • Take all the necessary documents with you to the bank when going to get a home loan. All identity proofs, date of birth proofs, address proofs, collateral documents and other proofs should be present, both original and the photocopies, in order to make sure that you do not have to run again and again for any missing document. If there are some missing documents, take proper proofs for the same in the formats prescribed by that particular bank. The real estate developers can also furnish you with the necessary property documents which might be required.

 

  • If you have any securities which you want to mortgage to obtain the loan, you should also take the proofs of the same. Taking a good amount of collateral simplifies the risk of the bank and hence the probability of the loan getting sanctioned increases. If you have any other 2 bhk in mumbai or any other property and you want to obtain another home loan against it, you can also do that and the sanction would be faster depending on the value of the property.

Following the basic steps needed for obtaining a home loan and complying with the bank authorities at each step can get your home loan sanctioned very easily and at a faster rate than a person going to a bank without any proper knowledge of the domain.

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