Top 5 Steps to Become a Smart Buyer

People spend days on doing the research before buying a mobile phone and often rush in making important decisions such as purchasing a house.Hence it’s only sensible to make strategies before you begin the house hunting, as buying a house is perhaps the biggest investment you would do in your life time.The fact that you are reading this is probably because you are a first time real estate buyer and have no idea that how tiring and distressing this whole process is going to be. Don’t panic! You can be a smart buyer by just following these 5 steps.

Set the budget

Making a budget is the most practical thing to do after you decide to buy your dream house. It aids in obtaining a better understanding of your lifestyles and expenditure habits. To do so you need to know your income, keep a track of your saving and finally, analyse your expenses. Remember to include all the sources of your income, it is important to add even the smallest fund coming into the household.

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Know your preferences

It is essential to set apart your needs and wants. Moreover, this is no hidden fact that when it comes to real estate, no unique type fits for all. There are studio apartments, 2 BHK apartments, even 3 BHK spacious apartments to choose from. Similarly, there are couples with babies, people who live in a joint family, bachelors, also the canine parents who are looking for their perfect abode, and hence the preferences change accordingly. To start with, you need to finalize the area you want to reside in; near your office, away from the city or in the center of it. If you are looking for affordable homes, then make choices according to your budget.

Do proper research

As mentioned above, buying a home is going to be one of the biggest investment you will ever make, and in order to not end up with a lemon, you need to do a thorough research for both the market and the builder’s previous projects. Do not think that online research is enough, you need to physically visit the area, do the inspection and make sure you opt for the best builder in the city who are known for delivering quality. Always make sure that the area is not prone to natural calamities like earthquake.

Befriend the local realtor

It is not required to be the best friend with the agent but developing a good relationship is always beneficial. The agents will let you know about the upcoming properties that meet your benchmarks. They can be a great source of information and can give you better advice regarding the purchase. But remember to never blindly trust the agent, and always do your homework accordingly.

Start saving right away

It’s never too soon to maintain savings when planning to buy a house. As soon as you set a budget, start saving in order to have enough money by the time you are ready to do the first deposit. Also, calculate the EMI in advance, this will help you plan better and let you know where you need to cut down the expenses.

In a nutshell, the key factors that you need to focus on before finalizing your home are — Budget, Planning, Research, Building Relationship and Savings. In the process, you might come across many other issues that will test your patience,at the same time the striking advertisements and misleading promises might steal your attraction. Now that you are a smart buyer, it can be assured that you are ready to deal with both mighty and puny issues that will stand in between you and your aspirational home.

Top 5 Steps to Become a Smart Buyer

People spend days on doing the research before buying a mobile phone and often rush in making important decisions such as purchasing a house.Hence it’s only sensible to make strategies before you begin the house hunting, as buying a house is perhaps the biggest investment you would do in your life time.The fact that you are reading this is probably because you are a first time real estate buyer and have no idea that how tiring and distressing this whole process is going to be. Don’t panic! You can be a smart buyer by just following these 5 steps.

Set the budget

Making a budget is the most practical thing to do after you decide to buy your dream house. It aids in obtaining a better understanding of your lifestyles and expenditure habits. To do so you need to know your income, keep a track of your saving and finally, analyse your expenses. Remember to include all the sources of your income, it is important to add even the smallest fund coming into the household.

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Know your preferences

It is essential to set apart your needs and wants. Moreover, this is no hidden fact that when it comes to real estate, no unique type fits for all. There are studio apartments, 2 BHK apartments, even 3 BHK spacious apartments to choose from. Similarly, there are couples with babies, people who live in a joint family, bachelors, also the canine parents who are looking for their perfect abode, and hence the preferences change accordingly. To start with, you need to finalize the area you want to reside in; near your office, away from the city or in the center of it. If you are looking for affordable homes, then make choices according to your budget.

Do proper research

As mentioned above, buying a home is going to be one of the biggest investment you will ever make, and in order to not end up with a lemon, you need to do a thorough research for both the market and the builder’s previous projects. Do not think that online research is enough, you need to physically visit the area, do the inspection and make sure you opt for the best builder in the city who are known for delivering quality. Always make sure that the area is not prone to natural calamities like earthquake.

Befriend the local realtor

It is not required to be the best friend with the agent but developing a good relationship is always beneficial. The agents will let you know about the upcoming properties that meet your benchmarks. They can be a great source of information and can give you better advice regarding the purchase. But remember to never blindly trust the agent, and always do your homework accordingly.

Start saving right away

It’s never too soon to maintain savings when planning to buy a house. As soon as you set a budget, start saving in order to have enough money by the time you are ready to do the first deposit. Also, calculate the EMI in advance, this will help you plan better and let you know where you need to cut down the expenses.

In a nutshell, the key factors that you need to focus on before finalizing your home are — Budget, Planning, Research, Building Relationship and Savings. In the process, you might come across many other issues that will test your patience,at the same time the striking advertisements and misleading promises might steal your attraction. Now that you are a smart buyer, it can be assured that you are ready to deal with both mighty and puny issues that will stand in between you and your aspirational home.

Top 5 Steps to Become a Smart Buyer

People spend days on doing the research before buying a mobile phone and often rush in making important decisions such as purchasing a house.Hence it’s only sensible to make strategies before you begin the house hunting, as buying a house is perhaps the biggest investment you would do in your life time.The fact that you are reading this is probably because you are a first time real estate buyer and have no idea that how tiring and distressing this whole process is going to be. Don’t panic! You can be a smart buyer by just following these 5 steps.

Set the budget

Making a budget is the most practical thing to do after you decide to buy your dream house. It aids in obtaining a better understanding of your lifestyles and expenditure habits. To do so you need to know your income, keep a track of your saving and finally, analyse your expenses. Remember to include all the sources of your income, it is important to add even the smallest fund coming into the household.

Know your preferences

It is essential to set apart your needs and wants. Moreover, this is no hidden fact that when it comes to real estate, no unique type fits for all. There are studio apartments, 2 BHK Spacious Apartments, even 3 BHK Spacious Apartments to choose from. Similarly, there are couples with babies, people who live in a joint family, bachelors, also the canine parents who are looking for their perfect abode, and hence the preferences change accordingly. To start with, you need to finalize the area you want to reside in; near your office, away from the city or in the center of it. If you are looking for affordable homes, then make choices according to your budget.

Do proper research

As mentioned above, buying a home is going to be one of the biggest investment you will ever make, and in order to not end up with a lemon, you need to do a thorough research for both the market and the builder’s previous projects. Do not think that online research is enough, you need to physically visit the area, do the inspection and make sure you opt for the best builder in the city who are known for delivering quality. Always make sure that the area is not prone to natural calamities like earthquake.

Befriend the local realtor

It is not required to be the best friend with the agent but developing a good relationship is always beneficial. The agents will let you know about the upcoming properties that meet your benchmarks. They can be a great source of information and can give you better advice regarding the purchase. But remember to never blindly trust the agent, and always do your homework accordingly.

Start saving right away

It’s never too soon to maintain savings when planning to buy a house. As soon as you set a budget, start saving in order to have enough money by the time you are ready to do the first deposit. Also, calculate the EMI in advance, this will help you plan better and let you know where you need to cut down the expenses.

In a nutshell, the key factors that you need to focus on before finalizing your home are — Budget, Planning, Research, Building Relationship and Savings. In the process, you might come across many other issues that will test your patience,at the same time the striking advertisements and misleading promises might steal your attraction. Now that you are a smart buyer, it can be assured that you are ready to deal with both mighty and puny issues that will stand in between you and your aspirational home.

Indian Investments in Dubai Real Estate

When it comes to buying property in Dubai, Indian investors are quite willing to shell out big sums, as per a recent survey. The study conducted by Dubai Property Show, reveals the purchase pattern of Indians looking to invest in Dubai real-estate, along with the preferred property type.

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According to the study, a majority (88 percent) of Mumbaikars and residents of nearby cities that include Pune, Ahmadabad and Navi Mumbai, are primarily looking to invest between INR 3.24 Crore — INR 6.5 Crore, whereas 8 percent would like to seal the purchase within the budget range of INR 65 Lakhs–INR 3.24 Crore. Rest were looking to buy properties above INR 6.5 Crore.

While selecting the property type, apartments emerged as a winner at 33 percent, with villas following at 17 percent. Commercial property and land stood at 9 percent and 6 percent respectively. Around 35 percent were undecided at the time of answering the survey questions.

Dubai Property Show is geared for its third exhibition in Mumbai from 3rd to 5th November at Bandra Kurla Complex.

Commenting on the outcome of the study, Asanga Silva, General Manager, Dubai Property Show, said: “The data reflects Indian investors’ faith in Dubai’s highly lucrative real-estate industry, both in terms of rental and resale. In fact a recent Knight Frank report quotes that from 2012 to 2017, Indian residential property buyers have seen an overall return of 49.3 percent in Dubai, the highest anywhere in the world. As astute investors, Indians understand that they are getting their value for money, since Dubai offers a bright economic future, stability, affordability, class and comfort. Dubai is also among the most affordable property destinations, and the strengthening of rupee further nudged investors in this direction”.

For years, Indians have consistently been the most prolific non-GCC buyers of Dubai real-estate. From January 2016 to June 2017 alone, they bought property worth more than INR 42,000 Crores in the emirate.

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Sohna Road to get commercialized by Elan Town Centre

Elan Group, a major realty firm based in Gurgaon announces an auspicious start to their project Elan Town Centre in Sector 67, Gurgaon with the Bhoomi Poojan today. Elan Town Centre, announced earlier this year on 19th July is a new High Street Retail commercial endeavor of Elan Group with a blend of Food Court, Multiplex and Double height shops.

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Spread across a land area of 2 acres approx, it promises to provide an eclectic retail experience & remarkable hospitality. The project is strategically placed on main Sohna Road with close proximity to proposed metro station and surrounded by Huge Luxury Residential Townships, IT parks, SEZ’s & International Schools and universities. It has great connectivity from the Golf Course extension road, NPR & SPR. and it is the upcoming major Highway.

The project is expected to complete by 2019.

On the occasion Mr. Ravish Kapoor, Director, Elan Group said that “We are delighted to kick start the project. Elan Town Centre will be providing the most eclectic and magnificent retail commercial experience. With the signing of 12 silver screens with PVR, we are positive about its success.”

Details of the Project

Project Launched: ELAN Town Centre

Place: Sector-67, Main Sohna Road, Gurgaon

Land Area of the Project: 2 acres approximately

Cost of the Project: 250 Crore

Location Advantages: Strategically located on Main Sohna Road with Close Proximity to Proposed metro station. Surrounded by Huge Luxury Residential Townships, IT parks, SEZ’s & International Schools and universities. It has great connectivity from the Golf Course extension road, NPR & SPR. and it is the upcoming major Highway.

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No delay or cost over-run for Delhi metro phase III: Hardeep Singh Puri

The third phase of the Delhi Metro has not experienced any delay in construction or cost over- run, the Rajya Sabha was informed on August 2.

Replying to supplementaries during the Question Hour, Minister of State for Housing and Urban Development Hardeep Singh Puri said the third phase of Delhi Metro involved construction of 190 km rail tracks.

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“The third phase of Delhi Metro which currently involves a total of 190 kms is not experiencing any delay in the construction or cost over-runs,” he told the members.

He said the first two phases of Delhi Metro that started in 1997 and 2011, involved construction of a 190 kms over a 14-year period.

Delhi Metro’s Phase 2 which commenced in 2011 and is due to be completed this year involved construction of 180 kms, but is being constructed in half the time, he said.

In a written reply, he said the “Delhi Metro Rail Corporation (DMRC) has informed that due to non-availability of land in time, the progress of work in some stretches of Phase III of Delhi Metro has been hampered.”

“At present, the central government has not received any proposal of enhanced cost of project of Phase III of Delhi Metro,” he said.

Maintaining that Phase III, which is currently being implemented, was started in stages in December 2011, he said “out of a total of 150 kms, 98 kms has been made operational, another 4 kms will be commissioned by June 2019, and balance 3 Kms by December 2020.”

Source: Economic Times, Delhi/NCR

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The best places to stay on rent in Delhi-NCR

The market for rental accommodation in the Delhi-National Capital Region (NCR), has remained strong, especially along the outskirts. With the government’s demonetisation drive affecting real estate sales, the rental market has gained momentum. Consequently, people should carefully weigh the advantages and disadvantages of renting, to arrive at the best choice. While renting a house, it is important to consider the rental price, as much as the real benefits of living on rent.

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Gurugram

Gurugram and its new sectors in particular, continue to be favorite destinations, for prospective tenants. The metro system, which covers the millennium city, makes it fairly easy to travel within Gurugram.

“Golf Course Extension and Sectors 47, 50, 55 and 56, are the most-preferred rental destinations in Gurugram, owing to their proximity to established social infrastructure, such as educational institutions, healthcare centres, entertainment zones, commercial hubs and connectivity by metro and other modes of transport,” says Geetanjali Anand, director, Andy Home.

Faridabad

Another workable option is Faridabad, which is finally getting its due. It has turned into a hub for buying property in India.

The uniform level of occupancy, makes Faridabad a very affordable option to rent a house, as well. The area enjoys good connectivity with Noida, Gurugram and Delhi.

The metro connects the satellite town to Noida and Delhi. The Gurugram-Faridabad Expressway also helps commuters to cover the distance between the two towns swiftly.

Delhi

If you still long for a rental house in Delhi, Dwarka offers a wide range of affordable choices, among other options. This sub-city is connected through the Delhi Metro and is at a close distance to Gurugram and the airport.

According to Anand, “The best locations for rental accommodation in Delhi-NCR include Saket, Vasant Kunj, Lajpat Nagar and Freedom Fighter Enclave in the south, Palam Vihar and Dwarka in the west and Mayur Vihar Phase I in the east.”

Jitendra Parmar, PR associate at PR Grid, adds that in west Delhi, people can also consider Rajouri Ganden, Punjabi Bagh, east Patel Nagar or Janakpuri B and C Blocks and Krishna Park.

“The best places to stay on rent in south Delhi are Katwaria Sarai, Munirka, Vasant Vihar, Anand Lok, Lajpat Nagar III and IV, as these areas have good connectivity with the rest of Delhi. In east Delhi, the areas are Preet Vihar, Vivek Vihar, Karkardooma and Rajdhani Enclave and in north Delhi, Model Town, Shalimar Bagh, Rohini and Pitampura and Palam Vihar near Gurgaon, are viable locations for rental space,” says Parmar.

Noida

Low rentals and employment opportunities, make this region an attractive option for living on rent.

“In Noida, sectors 74 and 78 are the ideal places to live on rent, due to its proximity to employment hubs in Noida and Greater Noida,” explains Parmar. Other sectors that have large demand for rental accommodation in Noida, include sectors 137 and 144. “In the luxury segment that many diplomats and expatriates look for, Diplomatic Enclave, Golf Links, Sundar Nagar, Prithvi Raj Road and Jor Bag, are some options,” adds Parmar.

Checklist for tenants, before finalising a rental house

While tenants have numerous options for renting properties in Delhi-NCR, the process is often not so simple due to different factors. Prospective tenants should prepare a checklist and consider the following factors, before arriving at a final decision:

• Commuting distance and time, especially traffic.
• Public transport network even if you are dependent on your car, for last mile connectivity.
• Occupancy in the society you choose to live in.
• Safety and security in your neighborhood.
• Availability of basic amenities in the area.
• Paperwork to be done, including studying of rights of tenants and landlords.
• Check the rent agreement format and make sure you are not paying an annual rent for a benami property.

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