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Area Profile of Ameerpet

Ameerpet is a busy commercial area in the neighborhood of Hyderabad. Situated in the north-eastern part of Hyderabad, it later became a part of Hyderabad after construction activities grew to a large extent in the northern part of Hyderabad. Well-known for the kind of very low price software training offered here, it is the center of attraction for software enthusiasts. This has led to the accelerated growth of the real estate projects in the area to fulfill the increasing demand. Over the years, it has developed into an area, that offers one of the best properties in Hyderabad.

Real Estate

Real estate of Ameerpet is known for the kind of residential flats they provide and the amenities therein. Most importantly, they provide the affordable homes in Hyderabad at affordable rates. Working with tech giant calls for discharging responsibilities and it is important to get a full night’s rest and comfort after a day of tiring work. The real estate projects in Ameerpet offer just the same comfort to unwind. The residential flats and apartments are laden with all sorts of amenities that would reduce the stress level.

Potential

There seems to be a never-ending potential in Ameerpet for the growth of real estate projects. Ameerpet, being one of the software hubs of our country, many people throng to this place every year for acquiring IT skills. Aspiring to fulfill the needs of those people, the real estate in Ameerpet has developed over the years and now they have enough potential to provide a stress-free and tranquil lifestyle.

Demand & Profit

Demand for real estate in Ameerpet seems to be never-ending. The influx of people to Ameerpet tends to increase over the years and hence the increase in demand for real estate is constantly on the rise. As the demand increases so does the profit and hence Ameerpet is a market where real estate can really blossom and earn huge profits.

New Projects

Many of the real estate investors have already sensed the opportunities present and are now trying to capitalize on it. Many upcoming projects in Hyderabad are blossoming there and each one of them has got different, but many reasons for choosing to live in. The upcoming projects in Hyderabad are all offering some promising amenities and features which just can’t be ignored and that too at affordable prices.

Connectivity

If one decides to live at Ameerpet, to enjoy a good lifestyle, then connectivity is not at all a problem. Ameerpet is proposed to be an important station for the upcoming Hyderabad Metro project. As of now, it is connected to Hyderabad both by roadways and railways and it is at a mere distance of 5 kms from Hyderabad.

Conclusion

Ameerpet is a perfect place to stay in if one wants to hone their IT skills and have a dashing lifestyle at the same time. Residing here will provide the residents with the dual opportunity of earning quality education and leading a good life close to nature.

Using Residential Property for Commercial Purpose

It is a common practice to buy property in Pune, Mumbai or any other location for end usage or investment purposes. Nowadays, with new and more elaborate projects coming up in various parts of urban cities, many people tend to buy houses and flats more than what they actually intend to use as a means of future investment or for future planning. However, the trend has also set in of using this extra property for commercial purposes like setting up an office, clinic or running some kind of business from the same premises. It is more often the case with people who are doctors, chartered accountants, lawyers or other jobs which are majorly work from home professions or which involve meeting clients and doing deals majorly from homes. This practice, however insignificant it might seem, is illegal.

 

  • As per the rules of the Government, residential properties cannot be used for commercial purposes or else they will be treated as commercial properties and will attract higher rates of taxes like the property tax, water and electricity surcharge and other taxes in accordance with the commercial property laws. As a result, if a rented residential property is being used for commercial purposes or even a self owned one, the owner will have to pay a higher tax depending on the rules of the state government and will have to obtain prior permission for the same.

 

  • A residential property or house in Mumbai, Delhi or any other particular location of your choice can be used for commercial purposes in cases where the particular state allows it but after the permission of the residential society and the complex owners. This might also require permission from the local municipal body which will decide whether or not to allow such an establishment and whether all the relevant permissions have been got from the locals and the residents. Some states allow a part of the residential property to be used for commercial purposes and accordingly the taxes are levied and the surcharges come into play. However, in all cases, approval and permission of the residential society and the real estate developer is required.

 

  • There are set rules and procedures for converting residential properties into commercial ones and for that you have to separately apply to the municipal body as per the requirement, the size or area of the property being converted, the purpose of use and the resources it would require. This would in turn attract higher property taxes and water and electricity cess as per the prevailing norms and the owner will have to bear it. So in cases where the property has been rented, the owner can object to the conversion and setting up of commercial practices on account that he will have to pay higher tax rates without moving up the rent.

 

However, certain practices do not count as setting up a commercial establishment like running yoga or meditation classes, dance and music lessons, tuitions or any such activity. Everything which requires professional help will attract commercial property billings in case you plan to set it up in your residential complex.

Thane Vs. Navi Mumbai- Which is a Better Option?

In the recent past years, around Mumbai and the MMR like Navi Mumbai, Thane, Mira road and Kanjurmarg etc. have seen a phenomenal growth. There are several government projects going to develop in those areas and this helps to increase a robust growth. Mumbai is one of the costly city and most of the people want to invest here for purchasing a house in Navi Mumbai.  The areas like Navi Mumbai and Thane provide state of the art facilities and provide an excellent environment for people looking for apartments in the reasonable and the luxury segment.  Navi Mumbai and Thane are emerging as the new hub in commercial as well as residential sector. With frequently striving to meet the desired requirement and sifting according to societal developments, Navi Mumbai and Thane are playing a major role create real estate projects.

The Ideal Real Estate Investment

Due to the growing demand, the Mumbai property rates are increasing day by day. So, as a buyer or an investor it is very important to analyze your financial condition before proceeding towards your purchase.  There are several options available to invest in real estate, but it’s important to understand the proximity it offers, understand the local areas, and present trends in the area. This will assist you to understand the ROI and other essential things properly.

Before investing in property, it’s always essential to know the facts properly. There are several reasons to invest people for real estate in Thane or Navi Mumbai,

Reasons to Choose a Location in Thane or Navi Mumbai

 

Before starting real estate in Mumbai, it’s always better to know the locality value and all the other essential things. Like check environment, property position, locality, transportation, etc.  Thane and Navi Mumbai both are popular places, both have so many advantages. These two places are increasing their infrastructure and most of real estate developer wants to invest here to make projects. So, it’s a high time to compare and choose a  best real estate in Mumbai apartment details. If you want to know more details about the economic growth about these areas, you can search the net properly.

 

If you will choose thane its more better because it offers presently huge employment chances, and there are several branded companies are coming to invest for their projects. So, if you will buy a flat or invest in new residential project in Navi Mumbai, it will give you high return on investment in future. After a certain time, definitely Mumbai property rates will increase. So, don’t waste your time, just search the net and choose a best property for you.

 

 

Always check the property location, prices and compare both and then decide which one you should choose. Most of the real estate developers provide fake information during first stage. So, first check papers, documentation, project area, and planning and price details and then decide to buy the property or not. It’s a very important decision as because you and your family will stay here for life.  So, as per your suitability choose a location and buy a flat now!

Independent House Vs. Apartment

Investing in real estate is a very tricky business and if you plan to invest with the purpose of moving into the flat or property, it becomes all the more important that you do the groundwork beforehand. Many people cannot decide whether to go for individual house or apartments which are developed by real estate developers across multiple projects which crop up every now and then. While both the options have many pros and cons of their own, it is important that you go through them individually and decide which are the features or things you want your house to have and accordingly decide.

Home Loans

The first thing that comes to mind when thinking of buying your own house in Mumbai or property in any other city is the loan which you can take from the bank and how much you will be needing. In such cases, banks are more willing to give out loans to people planning to buy flats in apartments which are backed by good real estate developers as they have a good standing in the market and more often than not they have a tie up with various banks thereby making it easy for the owners to take a loan. On the other hand, it is difficult to get a loan for a house or a bungalow as the banks scrutinize the individual properly before giving the money. Also when they do, it generally covers only sixty to seventy percent of the land value and the rest has to be borne by the owner, which is not the case in terms of apartments.

Extra Amenities and Add-ons

The best part about owning flats in projects made by builders in India is that a host of amenities and additional features are taken care of by the builders themselves like the security systems, the power backup generators, the parking spaces, safety mechanisms in cases of fire and all other recreational facilities. These are built for all the residents and you don’t have to pay anything extra for the same. However, in case you want to have a house of your own, these things have to be installed separately which entails extra cost, extra work and a lot of different tie ups which makes the whole process cumbersome.

Resale of Property

As a large number of properties today are bought as means of investment and not for use purpose, it is important to know about the resale potential of the property that you want to invest in. It is much easier to sell off a flat in an apartment complex as everything is well managed, planned and the new owners don’t have to pay anything extra apart from the standard taxes. There is also the backing of the real estate developer which makes the property trustworthy and worth investing in. On the other hand, selling a house in today’s times is very difficult as it requires a lot of capital investment, additional features have to be installed separately and everything else has to be managed immaculately.

So you can now decide and take a call about the type of property you would want to buy as it could be any of these affordable homes in Mumbai, luxurious flats, as per your choice and budget.

Why PMAY Failed in Maharashtra?

There has, since the appointment of Narendra Modi as the Prime Minister, been the popping of a large number of varied and innovative schemes to make India a better place. A lot of schemes took off really well, but the momentum slowed down after all the hustle and bustle died down. The Swachh Bharath Abhiyaan is a tremendous success and is considered a feather in the cap of the present government rule.

There is another scheme that was launched by the Modi famously known as the “Housing for All” scheme. This scheme, evidently, aims at putting a roof over every person’s head. There was a lot of hype which was generated around this extremely ambitious project. But to everyone’s dismay, the project didn’t take off in Maharashtra, where the hype around this project was at its peak.

Reasons for its Failure in Maharashtra

There are various reasons why the “Pradhan Mantri Awas Yojna” failed to even take off in the state of Maharashtra. The value and availability of properties in Maharashtra were pointed out to be crucial issues. In the other states, over 80000 houses were built as a part of the PMAY scheme. The main plot of the scheme benefits the urban and the rural poor, with the government providing them monetary assistance up to 1 lakh rupees.

Three main reasons presented themselves as deal-breakers for this scheme in Maharashtra, which are discussed briefly below.

  • Shortage of Land- This was the main cause of the failure of this more than ambitious scheme. There is not enough land in Mumbai to house the people who have the money to buy a house for them. The overly populated city areas do not call for more houses to be built. Even though there is enough land in the outskirts of the city, connectivity poses a serious challenge. Properties in Mumbai, which don’t provide good connectivity, lose their retail value and cause unnecessary expense to the government.
  • Delayed Approvals- The metropolitan authority in the city of Mumbai, rather, the development authorities in the state of Maharashtra are pretty well known for their late approvals of development sites. The approvals itself for this scheme are estimated to take a minimum if 2-3 years, which is precious time deemed not to be wasted. Even a prominent real estate developer faces problems with the approval of projects.
  • Delayed MMRDA Plans- the plan for regional development is still waiting for its approval from the state government. An expert, who is also a prominent real estate developer says that finding areas which can act as a hub for improved social life will be tough, as all the areas are either overpopulated or not well connected and far away from the city.

Conclusion

The above reasons for the failure of the ambitious scheme could be reverted if the approvals are given on time, the slums are rehabilitated and the encroachments are removed.

Panvel to be Next Investment Hotspot in Navi Mumbai

Positioned, strategically, between crossroads of major highways and expressways, Panvel possesses a lot of developmental opportunities for new projects in new Navi Mumbai. Panvel is, undoubtedly, a rapidly growing option for customers seeking to acquire a second home purchase. The place comes in as an easily convenient offering since it is embedded with immense road connectivity and also a booming hotspot for realtors and developers establishing and building new Navi Mumbai projects.

Perks of Investing in Panvel

Panvel houses a variety of public service institutions like hospitals, commercial hubs, shopping complexes and also numerous educational institutions like Mahatma Phule Arts, Science, and Commerce College, Karnala Sports Academy, etc. Residents also enjoy the comfort of indulging in their favorite restaurants, cafés, bakeries, etc. from the everyday traditional to the popular chain-outlets. Also, being a contemporary hotspot for new age real-estate developers and builders, several residential properties Navi Mumbai are environment-centered in their designs, promoting eco-friendly ambiances, equipped with the latest amenities for smooth and easy everyday lifestyle. This very fact presents itself as a boon, making Panvel, a healthy and comfortable place to live.

 

Also, there is a range of property options one can choose from starting with a single loft to luxury bungalows to commercial spaces; Panvel is a leading top dog in the domain of affordable homes in Navi Mumbai. Due to its advantageous positioning near tourist hotspots and places of interest, it also holds potential in establishing a great rental market for tourists or any short-time visitors.

 

Future Prospects of Panvel

Panvel with its established infrastructure, mostly in the residential real-estate sector, promises an extensive and high-profile growth, especially with the proposal of projects coming underway from national-level organizations and the Government.

Some of the key upcoming projects include the conversion of the Jawaharlal Nehru Port into a Multi-Product Special Economic Zone in Navi Mumbai. This comes as a gateway to a plethora of opportunities for various other businesses to rise and operate in the existing neighboring area. These can range from economic public servicing facilities, trading extensions, intermediary services, and also with a growth in population, more transport communication systems. All these developments collectively imply a boom in employment, gathering a diverse population of individuals and families.

 

The ongoing construction of the Navi Mumbai International Airport is clearly one of the determining factors in the rapid growth and development of Panvel in the last five to seven years since this allows for a greater passage of incoming and outgoing tourists, visitors or general residents, in the vicinity of the city. This project calls for an expansion in the sectors of hospitality and management, resulting in better hospitals, hotels, schools, institutions, etc.

Panvel will also be extending its already numerous routes of connectivity through the Navi Mumbai Metro which is expected to start operations in May 2018.

65% of Buyers Looking Affordable Homes in Mumbai, Bangalore & Pune

India is a country of middle class people in the cities. Mostly, they belong to lower middle class of society. Every common person in India seeks an affordable housing instead of luxurious housing. Even if the luxurious housing is sought after, their percentage is very low. In India people do not wish or dream for very big. Especially, the metropolitan cities of Mumbai, Bangalore & Pune are perfect examples of such housing. The housing in these cities is very costly and mostly people try to rent/ buy affordable homes in Mumbai, Bangalore and other cities.

The 21st Century Workforce and Housing

In the wake of 21st century, the world here is stepping towards a more competitive realm. In search of work the trained and skilled workforce comes to these metropolitan cities to earn a living and support their families. The people have to live away from their friends and family to make a living. This makes them to settle in their places of work. Now to accommodate such a large workforce, there is a need for accommodation facilities to be provided to them. These buyers of flats or apartments do not demand very high. In the cities like Mumbai, Bangalore & Pune approximately 65 % of people inquire about the details of 1-BHK flats. The trends of 1 bhk flat for sale in Pune almost have been same as that of Bangalore and Mumbai for inquiring about the affordable housing in these three megacities.

 

The flats for sale in Pune are inquired by buyers or forced investors in the city for affordable housing. The sky high buildings of Mumbai, Pune & Bangalore seem to be going out of reach of middle class people. More than 50 % of calls of inquiries are for affordable 1 bhk in Mumbai, Pune & Bangalore on an average. The suburbs of Mumbai see a minimum of 75% of calls inquiring about 1-BHK housing. The other cities in India provide larger spaces to their people for more affordable housing of 2-BHK and 3-BHK flats. These cities include Ahmedabad, Chennai, Noida and Kolkata.

The flats in Pune have other trends to be observed. The inquiries of flat pricing of affordable 1-BHK or 2-BHK flats have been 53 % in the city noted by a private surveying agency. The new age buyers do not inquire for settlements in Mumbai but in peripheries such as Dombivali, Thane, Thane West and Navi Mumbai. This costs less and also comes under their budgets. A larger proportion of such people is salaried class and prefers to have affordable housing.

Conclusion

So according to the reports, the employment, manufacturing and information technology are driving forces of forced investments in real estate by middle class family people who in search of work and employment have to settle down in these cities and ultimately they have to go for affordable housing instead of a spacious housing back home in cities they have come from.

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