Points to consider before investing in a villa

Points to consider before investing in a villa

Chennai

An independent house was what K Sathya Anand was looking for, and hence the villa at Thalambur was his best option.

There are many points to be considered before investing in a house. There is no rulebook dictating these guidelines since it will vary according to the personal choices of a person. For example, a person who loves the company of neighbours and prefers the amenities, which are provided within various apartment complexes, would choose to buy a flat that is located in a building, among other houses.

But for some, like K Sathya Anand, the Vice-President of a global financial technology company, it is essential to have some space around the house. He was not too comfortable with living in an apartment, in a building. So he opted to buy an independent home in Navalur.

He purchased a villa in Thalambur, in December 2017. “We wanted to live in a place that was not too cramped. And we wanted a good amount of space around it, and that’s why this villa perfectly fit the bill. Both, my children and parents now have enough space. Kids have the space to play. The house is well ventilated and well-lit. All these were driving factors behind the investment,” he says.

He wanted to buy a house in a place where there was no water logging. He also ensured that the roads in the particular area were wide. “Besides, this place is a serene spot. There is so much of green cover in the neighbourhood,” he adds.

The 4-BHK house costs approximately Rs 4,000 per sqft. He believes that the decision to buy a home should be well-thought and people should not rush to purchase a property. He advises, “Check and assess your finances, only then purchase a house. Have some savings left in the bank and do not put all your money in one place.”

Ranjitha G, Times Property, The Times of India, Chennai

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TIPS: To enhance positive vibes, good health and usher in prosperity

TIPS: To enhance positive vibes, good health and usher in prosperity

Decorate the southeast part of the house with colours of green or shades of orange. Place green plants like a money plant because it symbolises wealth; Keep the southeast sector of your living room well-lit to enhance your earning power; Focus on the entrance to your home to welcome good energy (Chi) and avoid clutter in this area; place a bamboo plant near your front door, as it will attract good energy and financial security; Place a purple coloured smooth crystal ball or that of amethyst at southeast part to enhance wealth and luck.

A Rose Quartz smooth ball will attract a partner or strengthen your relationship with a loved one; To improve your children’s health and well-being, place small pebbles or stones in the west corner of your living room.

Source: Times Property, The Times of India, Chennai

Affordable housing takes centrestage

Affordable housing takes centrestage

Affordable housing takes centrestage

Affordability, being a relative term, is difficult to determine for a city as dynamic as Bengaluru, says a Vestian report

Over the past one year, the effects of the triple reforms – demonetisation, RERA and GST – resulted in a deceleration of new property launches in Bengaluru. While it dampened market sentiment, it also brought about a fair balance to the market, making it surprisingly end-user friendly, says Vestian, in its half-yearly report on affordable housing titled ‘Real Estate Trends 2018: Bengaluru Residential Market’ .

Furthermore, the government’s ‘Housing for All by 2022’ initiative provided a boost to most developers who were deliberating their entry into the affordable housing segment. Another factor spurring developers to take up affordable housing was the granting of infrastructure status to the segment, thereby opening up a whole gamut of incentives including ease of getting bank loans and a host of tax rebates. Buoyed by the various tax benefits and incentives associated with these policies and schemes, affordable housing is finally on a serious growth curve.

Residential market

Majority of the housing demand observed in Bengaluru has always been in price range of 25 lakh to 60 lakh. While the lower value is considerably sparse, given the rising cost of land in and around the city, the upper range hovering around 45-60 lakh attracts a significant number of buyers. With 2017 proving to be a period of learning for industry stakeholders, the most potent opportunity as deduced by the developer community was pegged in the sub-60 lakh category.

As such, the first half of year 2018 (H1 2018, estimated till mid-June) saw the launch of 13,356 units in the sub-60 lakh category, as compared to just 8,240 units six months earlier, in the second half of 2017 (H2 2017). This depicted a whopping appreciation of 62% in H1 2018 over H2 2017, a significant change in tide.

Out of the total number of new launches, approximately 65% belonged to the ticket size category of sub-60 lakh. On the sales front, H1 2018, estimated till mid-June, saw 3,762 units sold, as compared to 2,183 units sold in H2 2017. Around 72% of the total units sold, of the new launches in H1 2018, were in the ticket size range of sub-60 lakh.

A word of caution

While all seems positive at the moment with demand picking up, some caution needs to be tended to. The government has provided enough policies and incentives to boost the sector but if not treaded with care the glut of relatively cheap housing might potentially create a bubble of artificial demand. The U.S. sub-prime crisis of 2008 serves as an important reminder as to what may go wrong.

Therefore, affordable housing should be treated primarily as a tool to improve the housing situation, rather than create a situation that may spiral out of control. Policy-makers, as much as individual investors, need to tread carefully in the segment.

Outlook

While affordable housing is considered more as a need-based acquisition, it has high prospects of becoming an attractive proposition to an investor as well. Growth corridors in Bengaluru such as Electronics City, Attibele and Chandapura in the south, Tumkur Road in the west, Budigere Cross in the east, and Doddaballapur Road and Devanahalli in the north, that presently offer more of affordable options could potentially become affluent markets in future and yield a substantial return on investment. Additionally, upcoming infrastructure in these peripheral regions portend well for their viability.

For Grade A developers in the city, the segment is no longer looked down upon but has turned into a strong and lucrative avenue for generating profits. Today, the segment holds the key to unlocking inventory, reducing the demand-supply gap and provide for a rewarding business proposition. Besides, the Centre’s recent move to increase the carpet area for residences eligible for interest subsidy under the Credit Linked Subsidy Scheme has come as a boon for the affordable housing sector. The new rule will cover many ongoing projects under the Prime Minister’s Awas Yojana and expand the market size.

Over the next 3-5 years, the momentum for sub-60 lakh housing in Bengaluru is expected to gain ground at a rapid pace, thereby benefiting the long-neglected end-user of affordable housing, as well as work for the betterment of the economy.

With transparency setting in on the industry, on account of the recent reforms, affordable housing is projected to become one of the principal demand drivers of real estate in the near future.

Source : The Hindu

 

 

Imported sand from Malaysia selling briskly in Tamil Nadu

Imported sand from Malaysia selling briskly in Tamil Nadu

Chennai

River sand imported by the state government from Malaysia is selling briskly at the Ennore Port, with 30% of the stock being sold in two weeks. In the wake of rising demand for the construction material, the government has placed an order for a second consignment from the Southeast Asian nation.

Officials at the Kamarajar Port at Ennore said about 15,000 tonnes of river sand had been sold. The sand has been stocked at the port premises where lorry operators who have made bookings arrive to take the loads.

“About 50,000 tonnes of sand have been imported from Malaysia. The number of trucks transporting sand from the port has increased in the last three days,” a port official said.

While 195 lorries carried nearly 460 units of sand on October 19, 182 trucks ferried sand out of the port. On an average, about 2,000 to 2,500 tonnes of sand are being sold per day. “If the sale continues at the same pace, the sand will get exhausted in the next 20 days,” the port official added.

The Public Works Department (PWD) has fixed a price of Rs 10,350 per unit of imported sand weighing 4.5 tonnes.

Apart from sand lorry owners, members of the public can also purchase sand through the web portal of the PWD’s sand operation wing.

Tamil Nadu State Sand Lorry Owner’s Federation S Yuvaraj said the market for river sand sourced from abroad is growing in the city. “There is a strong demand for such sand. The waiting period for getting the imported river sand is just one day,” he said. While the state government’s first consignment of imported sand arrived at the Ennore Port on September 23, the distribution was kick-started on October 8.

PWD officials said around 225 to 275 bookings are made every day to buy the imported sand. “The order for the next consignment of river sand has been made,” a senior PWD official told TOI, adding that it was expected to arrive at the port from Malaysia in the next two to three weeks.

Yogesh Kabirdoss, Economic Times, Chennai

Zip past OMR on metro in six years, grab sea view bonus

Zip past OMR on metro in six years, grab sea view bonus

Chennai

In six years, you could enjoy an uninterrupted aerial view of the city’s coastline from the comfort of an air-conditioned metro train as it snakes through an elevated corridor on Old Mahabalipuram Road.

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Chennai Metro Rail Ltd (CMRL) has started conducting soil tests on OMR, with construction of the line linking the IT hub expected to begin next year. The tests, which CMRL plans to conduct on a 50km stretch, are currently underway along a 10.6km section between Tidel Park and Sholinganallur.

Several portions of OMR, including spots near Tidel Park signal, Taramani and Sholinganallur, have been barricaded to collect soil samples. CMRL plans to build 12 elevated metro stations along this 10.6km stretch. In all, OMR will have 22 elevated metro stations till Siruseri Sipcot.

“Soil test results will be ready in eight to 10 months. This will be crucial for the final design of the corridor,” a metro rail official said.

Once the line becomes operational, it will provide a convenient mode of transport for employees working on OMR, linking major IT parks, including Tidel Park, Tecci Park and Sipcot, besides other top IT companies.

Officials said soil samples are being collected at one location over a period of 24 hours before workers shift their equipment to the next spot 25m-50m away. The samples will then be sent for lab tests to determine the soil type.

The 50km stretch where soil tests will be conducted includes a part of corridor 3 and 5. According to CMRL, the 50km line is expected to be ready in six years.

Officials said they planned an elevated corridor on OMR till Siruseri Sipcot as the road is wider here. This line is also part of the 20% elevated corridor planned in phase-2, as the rest of the stretch will be underground.

Meanwhile, the barricaded portions of OMR have begun to slow down traffic during peak hours. “As it is, driving through OMR during peak hours is hell. I am dreading the day when the actual construction begins on this stretch, though it will be convenient for us to go to work once metro trains start running,” said Jaikiran, a software engineer at an IT company in Navalur.

Source: The Times of India, Chennai