NRI’s Driving Bangalore Real Estate Market
Jun21

NRI’s Driving Bangalore Real Estate Market

Over the past few decades, Bangalore has been one of the fastest growing cities of India. The booming Information Technology sector has helped Bangalore to earn reputation as Silicon Valley of India and thereby led to, multi-cultural population, improved infrastructure, featuring exceptional educational institutions, and par above social setup. All this in turn has contributed towards aggressive development of Bangalore’s real estate market, making the city one of the most lucrative investment destinations for Non Resident Indians. Favorable currency exchange rate, availability of a wide range of real estate investment options, flexible payment and repayment options, professional property management services, and lucrative pricing are all influencing NRI techies from the West to consider Bangalore as a preferred destination for investing in property market. A radical development is that second and third generation Persons of Indian Origin (PIO) are also evincing keen interest in real estate investments unlike in the past. This clearly indicates that Bangalore is poised for revolutionary turnaround in economic development in the years to come. Another key factor is that in addition to NRI IT professionals, those in the service sector and businessmen are also considering investing in Bangalore’s real estate market. Currently, the most popular residential micro-markets are Sarjapur Road, Outer Ring Road, North Bangalore, and Whitefield. It is the 3rd largest hub of real estate investment for High Net Worth Individuals and also tops in terms of investment from Non Resident Indians who are considering settling down in India in coming years. What Makes Bangalore a Top Real Estate Investment Hub for NRIs? Owing to its cosmopolitan culture and potential for rapid development, Bangalore attracts NRIs from different corners of the world, particularly the United States of America. It is the home to more than 10,000 individual dollar millionaires, making it one of the largest bases of expatriates employed and living in the city. One of the major factors that drive NRIs to invest in Bangalore’s property market is the booming IT sector. It has the largest concentration of leading IT and ITeS companies. According to an estimate, there are 2,116 IT companies, over 664 MNCs, 183 biotechnology companies, and 248 BPOs operating in Bangalore today. The city currently employs more than 8.50 lakhs IT and ITeS employees, and also offers one of the highest CTC salaries to professionals as compared to other cities in India. A growing number of IT/ITES companies in Bangalore provide lucrative job opportunities to NRIs who are considering settling in India. Moreover, exponential growth in infrastructure and real estate sector also contributes positively towards influencing NRIs to invest in the property market. Furthermore, with depreciation in Rupee reaching peak...

Read More
Emergence of Dwarka Expressway
May28

Emergence of Dwarka Expressway

With the growing urban population across the National Capital Region and increasing preference of consumers to stay closer to work places as well as opt for hassle free & faster routes to work places, prompted Haryana Urban Development Authority (HUDA) to commission  an eight-lane expressway, known as Dwarka Expressway also known as the Northern Peripheral Road. The Dwarka Expressway Corridor starting at Dwarka, New Delhi and terminates at Kherki Dhaula on NH-8, Gurgaon has turned out to be a big attraction for real estate developers, investors and end users alike in the last 4-5 years. The entire Expressway stretch will act as an alternate link road between Delhi and Gurgaon. The biggest influential role the expressway is expected to play is to ease the traffic situation on the Delhi-Gurgaon Expressway. The entire 18 km long expressway project is being developed by India bulls Group under public private partnership (PPP). Backed by powerful infrastructure development plan for the stretch, Dwarka-Gurgaon Expressway is now registering the biggest real estate development. The eight lanes, 150 meter wide and 18 km long Dwarka Expressway will play an important role for the daily commuters from Delhi to Gurgaon and vice versa. The expressway will be providing them a congestion free travel especially when the Delhi- Gurgaon Expressway has witnessed highest number in traffic volume growth. Once finished, Dwarka Expressway is expected to be one of the best motorways to journey from Delhi to Manesar. Real Estate Developers with their projects in Dwarka, Gurgaon and along the Expressway are depending on the completion of the Expressway project to get them the desired return on investment (ROI). More than 33,000 houses are under construction along different sectors of Dwarka-Gurgaon Expressway. Around 50% of the expected houses will be ready for possession in the next 12-18 months period. Proximity to the IGI airport, the Delhi Aero City, and the forthcoming Diplomatic Enclave in Dwarka, the Dwarka Expressway has achieved similar growth rate curve as premium Gurgaon locations like Golf Course Extension Road and National Highway (NH)-8. With the increasing number of corporates & MNC’s operating out of Gurgaon, coupled with the locational advantages, Dwarka-Gurgaon Expressway has emerged as an attractive alternative destination for residential users eyeing either Dwarka or Gurgaon. Dwarka Expressway, a boon to real estate The completion of Dwarka-Gurgaon Expressway will give huge boost to the real estate development in this area. As a number of properties start getting completed on this expressway, more and more end users will be interested to moving here. Over the period of time, Dwarka Expressway will evolve into a seamlessly prime real estate destination for variety of end users...

Read More
Nice Corridor Bangalore
May21

Nice Corridor Bangalore

The addition of NICE corridor to the city of Bangalore symbolizes rapid development of infrastructure to the city and ensures to support the growth opportunities in the IT hub of the country. The Bangalore-Mysore Expressway as it is known otherwise is a proposed 4 to 6 lane private tolled expressway. It forms an important link between the two cities in Karnataka, Mysore and Bangalore. The entire project is being developed by Nandi Infrastructure Corridor Enterprise (NICE). The plan is to build and develop a 6 lane expressway between Bangalore city and Mysore city. The expressway is planned to be 111 km long with a 9.1km link road into downtown Bangalore. NICE will collect toll and maintain the expressway after its completion. The six-lane expressways will consist of the following parts: The outer peripheral road of Bangalore is 109km long. The southern section of the outer peripheral road which is almost 41km is already completed and developed by NICE. This part of the road runs in between the NH-7, also known as the Hosur Road which provides connectivity to Chennai and NH-4, also known as the Tumkur Road which provides connectivity to Mumbai. The link road which is 9km long connects the outer peripheral road to Bangalore city at Outer Ring Road near Banashankri Phase 6 also known as Hoskeralli presently and further down will merge with  State Highway SH-17 also known as Mysore Road. A 3km stretch of elevated link road would connect the existing link road to downtown Bangalore at Town Hall / MG Road. This section of the road is yet to commence work. 111km of Bangalore-Mysore expressway, connecting, Mysore city and Bangalore city at the outer peripheral road. The work is still in progress and will be completed in the next two to three years.  Features: Some of the features of the expressway and the NICE project include an integrated Real Estate Development Master Plan. Five townships have been proposed to south of Mysore Road (SH17) which are to subsidize the expressway costs. The nature of the townships proposed include some of the best facility centers: Corporate Centre Commercial Centre Industrial Centre Heritage Centre Eco-Tourism Centre The addition of infrastructure to the city of Bangalore, will help to decongest the over populating city. With a slew of growth opportunities planned along the corridor, the end users will be focusing on the new areas, thereby reducing pressure on the existing city. The futuristic infrastructure planned and developed along the corridor is sufficient to support the demand pressure of the population growth for next 2-3 decades. It is estimated that the proposed townships will accommodate approximately 2mn people...

Read More
Top-up Loan – A Blessing for Existing Home Loan Customers
Apr23

Top-up Loan – A Blessing for Existing Home Loan Customers

Planning to buy a house or apartment, or planning to renovate or refurnish a recently bought house? Well, if you are an existing home loan borrower with a bank, you have a great facility to support your plan.  It’s the top up loan. A top up loan can help you meet some of your big expense- be it home renovation, education, marriage  or any such expense at a relatively lower interest rate than a personal loan. It is available only to an existing home loan customer. A top up loan is an additional amount of loan that you can borrow on your existing loan facility with a bank to meet some major expense. You can avail this loan only if you are an ‘existing home loan borrower’. As the name suggests, this loan is meant to top-up your existing home loan amount and it can be availed only after a few years of having taken the home loan. For instance, some banks give you a top up loan only after you have repaid your loan diligently for at least one year; whereas some banks give this loan 1-2 years after the possession or completion of the property financed. The bank will analyse the market value of your property, the amount of outstanding loan, your loan repayment history, and your present financial condition before approving your top up loan. The tenure of a top up loan can go up to 15 to 20 years, depending on what’s the term of your home loan, maximum tenure being as same as the balance repayment period. Since the tenure of this loan is usually long, you can have the benefit of easy EMIs that can be comfortably adjusted in your monthly budget However, it is the bank which, after doing its own evaluation, decides the amount and the maximum tenure of a top up loan a customer can avail. Eligibility – Who can Avail and How Much You can take a top up only when you have a home loan to top up on. The conditions for availing a top up loan varies from bank to bank. Sometimes, you have the option of taking a top up loan from the same bank which had initially facilitated your home loan. However, there is no guarantee that the same bank will support your application for a top up loan. But, there is nothing to worry as an alternate way is also there if that’s the case. You can always shift the home loan from the previous bank to a different bank, a bank that is willing to give you a top up loan. However, the...

Read More
Top Realty Destinations in and around Delhi NCR
Mar26

Top Realty Destinations in and around Delhi NCR

Looking for a home in a metro city? But it isn’t in your budget right now? Yes that’s the situation many home buyers are facing right now due to the rise in prices of residential property due to the impact of inflation. Add to that, the rise in home loan interest rates makes it even more difficult for people to buy homes within their budget. People are ready to stretch their budget a little bit, but nobody would like to go too much beyond their budget, as that can jeopardize their other financial goals. So, what is option for people looking for good residential accommodation in metro cities on budget? Well, here’s a tempting solution to the problems of finding affordable homes in and around the metros. If you can’t find an affordable home within the metro cities, then the next best option is to look for houses around metro cities.  For the builders, at the moment the top realty destinations are not the metro cities, but places around metro cities. In this article, however, we will focus on realty destinations in and around the National Capital Region. In this region places such as Greater Noida, Gurgaon, Manesar, Bhiwadi, Neemrana are the top destinations for builders and buyers today. The reasons are obvious – close proximity to the main city (Delhi), affordable apartments and plots and much greener and open spaces as compared to the city. Another important benefit of these alternate realty destinations such as Delhi NCR is that those who wish to buy houses from investment purpose can buy homes at low prices and be assured of high returns in future. Many people find investing in suburban residential property a good way to support their future plans of dream realty investment. The so called “alternate realty destinations” are slowly emerging as the best places to live in. Some of the important factors that are luring the builders and buyers to these top realty destinations are: improved road and metro connectivity with main city, excellent infrastructure of these suburban cities, lots of open green spaces, broad roads and availability of good quality houses at affordable prices. Real estate developers have come up with large housing and township projects in these regions as they find these places favourable for developing wide range of projects. Developers are now offering long term schemes that will excite both the investors as well as the buyers to buy homes at such destinations. Some of these destinations in NCR have already been witnessing around 25 to 30 percent annual appreciation which is a good return for investors. Delhi NCR is a major destination for developers...

Read More