Low cost housing is expected to get the infrastructure status in BJP’s 2014 election manifesto and making it easy for leading developers to obtain finance from renowned banks and for longer tenures and finally growing the huge supply of luxury houses. While leading developers are in the favor of an infrastructure tag to the residential sector as a whole, the government is expected to grant it only to the low cost sector, said a senior from government official source.

According to government sources, low cost homes are those with an area of up to forty square meters. BJP’S policy is gainful and positive for possible home buyers for a low cost housing programme by the time the country completes 75 years of its freedom and each family will have a dream home of its own. It talks about a creatively designed scheme that unites different existing programmes and also encourages the residential sector by applicable policy interferences, where compulsory.

According to the latest report by National Housing Bank, the lack of housing in the inner-city areas is around 18.78 million residential units. Almost 95% is in the low income group and economically weaker sector. At instant, housing takes a high risk weight and banks are more concerned when lending to the residential sector. With the infrastructure status in the place, the risk weight will decrease and well known banks will become more luxurious and comfortable giving the loans to leading builders, “said by the official source. The right decision is expected to be made soon by Venkaiah Naidu, new minister for inner-city development, town and lodging poverty improvement.

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Important tips to keep in mind before buying a home

                                                                   

Purchasing  a house may be a difficult task. It is a daunting affair for the property seekers, who are in the search of lavish properties. Before buying any type of property, there are some certain key aspects required. To make the procedure very easy and simple, we have brought some certain aspects from the realty experts & researchers. These factors must be checked before buying a lavish asset. When you are planning to purchase a lavish property, you must ensure that the property should be away at least 500 meters away from sewage canals, sea shore, lakes, ponds, bus stand, national highways, railway lines & railway stations and nuclear power stations.

Splendid locality, Vaastu & geographical beliefs, Eco friendly features, convenient accessibility, environment and many other factors are very essential for a buyer, hence all these factors should be kept in the mind. In addition, we must know location advantage and project features, while looking for a secure investment. Hyderabad is one of the most emerging places of the country. It is also an affordable destination for fulfilling a dream of a luxury house. It is very cheap and best place where people can hope for a cheerful life.

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Chennai Is A Hot Property Market For Speculation Objective

Chennai Is one of the fastest growing destinations in the country. This city has become as the largest place for commercial & residential place in all over the country. Going by the latest & modern trends, the real estate sector is now come back to action again. The success of each venture depends on its locality, rate and final product. When we discuss intensely about the residential development, it is certainly in the great demand. Every Builder has a good line of high end ventures coming up.  People prefer to invest in the suburbs because of affordability and steadfastness.  Rapidly Growing Suburbs are speedily developing with the development of the social & infrastructure development . Thereby, Chennai is a hot spot for buying the lavish assets reasonably.

A major factor that lures the potential buyers to the real estate market in Chennai is steadiness. This realty market is very stable market compared to the other markets in the country, wherein the residential property rates move with the line to the actual sales. Price instability due to these factors has been barred in this high rising market.  Although, the residential market in the country has remained very slow-moving over the past years, it has shown the sharp gains in the hot cities and Chennai listed as the top city among major cities, according to the recent report of National housing Bank.

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Four Lakhs Accommodations Required by 2034 but the rates may not fall

The draft development plan 2034 predicts that the total population of the city will grow by 16 lakh over next two decades and an essential need for four lakh houses to accommodate the rapid increase. According to the draft development document, “ There will no enough space left for the affordable accommodations as the rates of the real estate sector are expected to remain very high.”

There will be very scope for affordable housing in the draft development plan and it will be very difficult for salaried common man or low income buyers to buy the luxury homes in the city. DP planners expect that the population will be nearly 1.4 crore by 2034 year. It has been observed that a family of four members can live under a roof and they have calculated that there is the need of 4 lakhs houses for them to live.

It is sure that the rising population is looking for the luxurious accommodations, it has been predicted by the realty experts & researchers that there is the requirement of 4 lakhs by 2034 year but the rates of the houses may not fall.

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Latest Trends in Chennai Real Estate Sector

                                                        

The residential market of Chennai was badly impacted in the starting of the year due to the poor market sentiment, budgeting needs and predictable fiscal sops by the way of lending rate decline, says by some realty sources. This property market has not picked up till the first week of the March month 2015. Chennai is a good city from the point of view of residential purposes. It is a hottest property market in all over the country and it is blossoming rapidly in term of the infrastructure and industrial developments. There is the healthy demand for 2BHK residential units in the range of 30-40 lakhs and there is also huge supply of housing units. So it is really a good city for residential purposes.

                                                   

Till now, the demand for luxurious apartments in the price ranges of 45-70 lakhs is now increasing day by day. Well known builders are also offering the special offers, attractive packages, big discounts and special freebies for potential home buyers. There are so many latest trends in the real estate sector of Chennai, so buyers are luring attractively towards the city. Therefore, it is an affordable place but it is very beautiful city for living with new ambitions.

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The Scenario of Property Market Will Improve Till March 2016

Global rating agency said in the statement that likely upturn in the country’s speculation climate and decline in the interest rates will improve the property market by the end of the march 2016 and provide the relief to the debt ridden builders. Agency declared that the property development sector will be a key beneficiary of the decline in the housing loan interest rated by many domestic banks in the month of April 2015.

Apart from this, the Reserve Bank has reduced the attractive & encouraging policy rate by 0.50% since the January month and encouraging the commercial banks to cut the interest rates for home loan and other debtors. We observe sensibly and precisely well-known builders with a larger exposure to the lower and middle income segments to benefit more from lower domestic interest rates. Developers like Lodha and Indiabulls with higher income clients are not benefited because their clients are less sensitive to the market interest rates.

The rating agency observed that the procedure  of reducing the leverage stalled in 2014 year due to weak sales and slower cash assortments on the lavish assets that were sold towards the end of 2014 year and in early 2015 year, as the developers announced the attractive and lucrative payment schemes to the stoke demand.

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Residential Homes Are Easily Available In West Chennai

From July- September 2014 Quarter to January-March 2015 Quarter, the huge supply of the luxury residential homes has been observed as the double in the splendid localities of West Chennai as per the latest surveys. These splendid areas like Porur, Valasaravakkam, Ambattur and Ayapakkam are luring a large number of buyers, so choosing these hot locations are the perfect areas for a splendid living.

Although the robust demand for luxurious houses has always been surviving in the national capital region, few city based builders have recently entered the market or have given the possession time and rising rapidly overall the supply, says in the recent surveys. Although the apartment culture living has grasping Chennai with south and central zones observing the robust demand for such type of lavish properties.

To meet the high rising demand, admirably and actively based builders have approached here with some housing plans, announces by the some realty sources. These lavish properties are priced almost at same price at which ultra-luxury apartments are being offered in the some hot locations in the urban, so those who prefer more privacy and security or want to live in the most lavish property can select for them, says by the realty sources.

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The Rental Values Observe 10 % Rise Porur and Chromepet

Chennai’s rental market is attracting a large number of people from various parts of the country. It is very good in the facilities and prices. It is the cheap and best market that is luring the people from different parts of the city. Nearly 75 % of the splendid localities in the city observed high rise in the average rental values. On other hand, nearly 43 % hot localities witnessed a surge in the average sale price of the assets. 

The preceding trends and strategies show that the rental markets observing low transaction volumes normally push rental demand for the lavish properties. It has a positive impact on the rental return on the speculation. The potential investors who are planning to purchase ready to move in the property on loan and rent it out would advantage in such type of scenarios where rental values goes up and sale price endures.

Porur in the suburban part and Chromepet in South Chennai of the urban are the perfect examples, which have observed the maximum rise in the average rental values by 10 % in the previous one year. On other hand, average sale price has not observed any notable rise during the period. Steady demand for the lavish properties on the rent in Chromepet is majorly attributed to its splendid location along the GST and regular demand from working and IT professionals.

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The Characteristics Of A Smart City

The top qualities of a smart city are normally attributed to a smart city which is very stylish, neat and elegant in the appearance. It is easily and conveniently accessible by any mode of transport and is environmentally friendly. Smart cities are integrated, efficient, effective, attractive and adaptive, so living in the smart city is very amusing and enjoyable in itself.

In all over the country, the rapid expansion of a smart city is a big challenge especially for the city planners to contemplate over the innovative concepts and churn out logical and convincing ideas which may be debated amongst development authorities, philosophers, realty experts and governments.

Each state has its own peculiar ethos, traditions & beliefs, culture, matchless architecture and therefore to carve out a model city that is a daunting task for the city planners.

Before developing the smart cities, the planners have to obviously understand its qualities, which are broadly explained below:-

• To make a smarty city as modern city, the sharpen digital technologies will be used to decrease the costs and resource consumption. 

• It can respond quickly and conveniently. 

• It can be implemented by the most important factors including climate varying, ageing populations, monetary restructuring and burdens on the public funds.

• It encompasses the effective transportation, regional competitiveness, and improved communication technologies, the top quality of the life and involvement of the citizens in the governance of the cities.

• It is one that has the latest digital technology entrenched across all city functions.

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