Ahmedabad Real Estate Still Has The Charm

Ahmedabad is a beautiful city slumping in the state of Gujarat. Giving haven to a considerable population and also providing them profuse opportunity to earn a living and have a quality lifestyle, Ahmedabad induces many real estate investors to come and invest here. From past few years, investors both Indian and NRIs are getting attracted to the city like bees get attracted to the honey. People looking for homes in and around city are opting to buy residential properties in Ahmedabad, since the homes are very affordable here.

Overview of Residential Properties in Ahmedabad

The homes in Ahmedabad are contrived to have all basic and modern amenities like electricity, water supply, swimming pools, good security system, etc. The homes are also near to parks, playgrounds, and health clubs.

The potential buyers yenning to purchase properties here can choose according to their budget. Whether one needs an affordable accommodation or the most luxurious one, there is a perfect property for everyone here.

Budget friendly properties include 2 and 3 BHK flats and apartments. And if one is looking for an elite and stupendous sort of a residence, then one can choose from the astoundingly impressive villas and condos.

Buying a residential property here does not involve any intricacies and hassles. Most of the sellers accept payment by installments.

Ahmedabad is the hybrid of clean and fresh environment and pompousness of an urban life. Many dream to have a home in a place like this which has nature coexisting peacefully with the concrete. In the past few years the prices of the residential properties straggling on the peripheries of Ahmedabad has skyrocketed. The real estate investors looking for a worthwhile deal can think about investing in the properties here for good returns. Whether one is coveting to invest in 3 BHK property or a 4 BHK property, one can find a suitable property without much effort. Start searching for your favorite property through local registered Ahmedabad real estate agents or other sources like web portals, magazines etc.

5 Factors That Affect The Market Value Of Your Home

A house is made of walls and beams; a home is made of love and dreams. In fact, we spend our lifetime savings to buy the best house for our family. A home is, indeed, a lifetime investment and if by any chance, we have to put it out in the listings for sale, we leave no stone unturned to ensure that it fetches the best possible price. There are many factors that can affect the price of your home. From the location and connectivity to the basic amenities and the upgrades made, anything can affect the market value of your home. That said; here are the 5 major factors that can appreciate or depreciate your home value.

To get this, before analyzing the property trends and rushing to property agents the first thing you should do is to identify the major factors that affect the market value of your home.

#1 House Age And Renovation

The age of your house is also instrumental in affecting the price of your house. We’re not talking about the historic-type old houses here, they undoubtedly fetch a big sum; what we’re talking about are the houses that are three to five decades old. Such houses can be a hard sell. However, if the timely renovation have been done and the house is decked up with all the latest amenities and interiors like a modular kitchen, well-tiled modern bathroom, and other necessary upgrades, it will definitely appreciate the value of your home a notch higher.

#2 Location

The top factor that can be decisive in determining the value of your house is the location. Where your house is located, whether it is nearby schools and higher education institutes or not, what are the nearby medical facilities and how connected the area is in terms of transportation; all these play an important role in raising or dropping the market value of your house. Proximity to local markets, shopping complexes and, recreational centers also plays an important role in determining the value of your home.

#3 History Of The Place

If your home has had some history like getting flooded, pest attack or fire incident, it may attract fewer buyers as they may doubt the strength of the foundation. Other negative events like a suicide, criminal activity or sudden death may also be a reason for buyers to put a low price for your property. Any negative event in the history of the house can make your home a hard sell and depreciate its value.

#4 Parking Space

Lack of parking spaces is increasingly becoming an important issue in metropolitans as well as in cities and towns. According to a recent study, having a single parking space added to the house can increase the property value by up to 5%. The reason being that 90% of the populace today has a vehicle of their own and would certainly show more interest in a property where they can park their vehicles safely than the ones that do not offer this facility. No wonder that parking space availability act as a major decisive factor for the price rise or drop for residential & commercial properties for sale.

#5 Distance From Commercial Hubs And Industries

A house located near a commercial hub attracts more buyers than one that is at a located far away. Buyers seek a house in a location that is easy to commute from their offices, and if your house is near a commercial hub, more buyers would be interested in the property. So, if your house is near an IT hub or any other business and commercial hub, your house value would certainly increase. Contrary to that, if your house is located near an industry, chances are, it may have a negative effect on the property price. Industries give away toxic pollutants in the surrounding and even make a lot of noise; therefore, buyers tend to stay away from houses near an industry which depreciates the value.

How Home Automation Makes for an Easy Way of Life

Home automation happens to be one of the multitude of tasks that are becoming easy thanks to the internet. This process to explain simply would be to automate the inner workings of a house using technology. All the gadgets that we use inside our homes to ensure that our day to day lives go on without a hitch contribute to this process. The coming together of various technologies and gadgets to help us finish tasks which were previously time consuming is just one facet of home automation.

Home automation has made science fiction of the yesteryears the reality of today. What one thought was just an idea on the pages of a book or a movie a few decades have become something that we can’t do without today. A fine example of that would be the touch screen technology. No one would have thought this was possible about a decade or so ago. But this technology has really changed the way we live our lives today.

Touch screens aren’t the only things to come out of the human imagination. Many other technologies have become an integral part of our lives and have invaded our house. One such thing is the internet. It is very hard to imagine life without the internet. We watch movies, communicate with one another and carry out a multitude of tasks thanks to this technology.

The Internet of Things is making a whole bunch of things possible within the house. This technological advancement can mean a lot of things for the home owner. It allows all the gadgets inside a home to communicate with each other to ensure that you have a smooth living situation. This means that a wide variety of gadgets can come together and be programmed to ensure your comfort. It could be as simple as turning on the lights and air conditioning before you enter your apartment after a long day at work so that you get greeted with the right indoor temperature to ensuring that your property and belongings are being constantly monitored and protected from robbers.

Security and constant vigilance are an integral part of home automation. There are home security systems which can constantly monitor your living space to ensure that you don’t fall prey to those who are bound by greed and covet what is not theirs. A wide range of gadgets from CCTV cameras to digital safes and locks can make your home a safe haven for your family. These full blown security systems can alert the police if there is a break in among other things. It has become a necessity to install these systems rather than a luxury. You need not blow up a lot of money on these and go for budget friendly options if money is a problem.

Home automation is all about making your home smart so that you can uncomplicated your life. If you make smart choices you can rest assured that your time and energy can be saved and focused on things that matter.

The Beginning of A New Era In Indian Real Estate

With three revolutionary reforms, GST (Goods and Services Tax), Real Estate (Regulations and Development) Act and Pradhan Mantri Awas Yojana, favoring the interests of the common man, the sun seems to have finally risen on the Indian real estate. All these reforms, acts, and policies launched by the government in the past 2 years point in the direction of a new era that would mark the transformation of real estate from a developers’ market to a buyer-driven marketplace. A more empowered buyer would be born and property market would be focused in his interest. Houses would become affordable, transactions would become transparent and trust in real estate would be rebuilt in the buyer’s mind in this new era; all because of the three reformative acts. Let’s have a glimpse at them to understand how they would change the face of Indian real estate.

Goods And Services Tax

Goods and Services Tax aka GST is a ground-breaking tax reform that has been enforced in India on 1st July 2017. It would subsume around half a dozen indirect taxation levied by the Center and the State like VAT, Service Tax, Stamp Duty etc., that used to lead to cascading or doubling of tax. The government has put the under-construction projects under the 12% GST slab that would be a sigh of relief for all the prospective homebuyers. The anti-profiteering clause in GST law would ensure that the benefit of the tax reduction because of GST is passed on to the buyers at all costs. The elimination of ‘tax on tax’ or tax cascading would be one of the biggest benefits of GST on Indian real estate that would gradually lead to lowering of property price in India.

Excluding stamp duty, a homebuyer, before GST implementation, had to pay a total of 11% tax; the actual tax might have increased by less than 1% but the homebuyers are rejoicing because of the clarity and transparency brought in by this tax reform. “GST itself is expected to add about two per cent to India’s gross domestic product (GDP). That is a substantial boost to the economy. If the economy does well, obviously, there will be more demand for real estate, and it will be a boost for the sector,” says Ankur Dhawan, Chief Business Officer, PropTiger.com.

Real Estate (Regulations and Development) Act

Real Estate (Regulations and Development) Act aka RERA has been implemented in the Indian real estate on 1st May 2017. As per this new regulatory law, all the builders and developers would have to register themselves with the State Regulatory Authority and those who fail to do so would face cancellation of their real estate license. The Real Estate Act is to empower the property seekers and homebuyers to raise a voice against the unscrupulous builders or developers.

This Act would bring transparency in the real estate in India and enable the aggrieved buyers to seek redressal from the builders. Builders who delay the project, use one project’s money into another project or even drop the project would have to pay interest to the buyers owing to this revolutionary act. Timely completion of projects, ease of inquiring, complaint registration and the transparency brought in by the RERA Act would rebuild the trust of people in the real estate sector.

Pradhan Mantri Awas Yojana

The Pradhan Mantri Awas Yojana aka PMAY is the torch-bearer of PM Narendra Modi’s dream of “Affordable Housing For All By 2022”. This mission came into force on 25th June 2015 and seeks to provide affordable housing to all the citizens of India by the end of 2022. To fulfill this mission, the Indian government is coming up with new and affordable housing schemes so the people of India, especially the low and middle income group of the society, would be able to have a roof over their heads.

The government has decreased the home loan interest to 6% for those who want to take a loan for up to INR 9 lakhs and for those desiring a loan of up to INR 12 lakhs, can now get it at a 3% interest rebate. If the homebuyer complies with all the conditions put forward by the government, he/she can avail these attractively affordable offers and have a roof over their head in no time. A trigger in the home buying process would be seen gradually and people would now be investing their money on cheaper EMIs instead of paying house rents.

These three reformative acts, i.e., RERA, GST, and PMAY are bringing transparency and building trust of people in real estate India. They have opened the doors to a new era where homebuyers could get homes at an affordable price and would not hesitate from making any purchase decision.

Interior Design Ideas to Make a Room Looks Smarter

It’s always been a difficult task to keep small living space organized. But, there are several smart interior decor ways to make a tiny room look bigger. Here are some of the best residential interior design ideas and tips that can transform your living room.

Finding a spacious home to either rent or buy within city limits would be more expensive. Thus, many home seekers with limited budget prefer small homes or studio apartments. With increasing real estate prices in cities and reduced homes sizes, it has become even more critical to follow smart interior design ideas to make your home look nice and chic.

Avoid Luxury Window Treatments

For small sized rooms don’t use window treatments that are too heavy and ornate. These luxury widow treatments add beauty to the room, but these drapes and curtains that are made of heavy materials will restrict the room from getting natural light. So it’s better to make use of the window in a small room to bring in light to every corner. Especially, light-coloured walls along with the sunlight would make your tiny living space look larger. Sheer lace curtains, slatted window blinds, or bamboo shades are ideal for uplifting your interior décor of the room.

Prefer Light Colours

Always say a big ‘No’ to darker colours in interior spaces for walls and other dominant room features like curtains, sofas etc., if the size of your room is small. According to interior design experts, lighter colours would bring in the illusion of a larger area. Though dark colour themes are more trendy and design-friendly, it best suits the spacious rooms. If you use a dark colour in a space-challenged room, it will make it look even smaller.

Wall with Stripes

When it comes to wall decoration in small indoor spaces, adding either vertical or horizontal stripes to the interior design can generate the illusion of larger space. To make your living room look wider, it’s best to use horizontal stripes. And, vertical stripes help to make your look larger in an upward direction. Also, ensure the colour that you use matches the rest of the furniture and fabrics in your room.

Choose Furniture with Legs

While buying indoor furniture for your home, always prefer the ones which have legs, as it opens up a small space. When it comes to large furniture without legs that rests directly on the floor, it will consume more space and would make the room interior look even smaller. On the other hand, furniture with legs showing will make your small room look brighter with more light. Alternately the room is easy to clean and also small things can be pushed under the furniture like foot wear when you are sitting in the room, low tables and stools.

Use Multifunctional Furniture

When you live in a small living space, it’s always ideal to use multifunctional furniture to utilize space in a tiny room. You can prefer sofa with storage facility or a fainting couch that opens for storage. To create more space in a small living room, it’s better to downsize the furniture in your room.

Ahmedabad: Top Corporate Realty Market of India

Ahmedabad has emerged as the biggest commercial real estate market in India. According to the latest CB Richard Ellis (CBRE) report, this city has been a leader for the past five years in terms of office space stock and office space absorption trends.

“Ahmedabad’s investment grade office stock grew exponentially from less than 20 million square feet in the early 2000s to 127 million square feet in 2015-at a compound annual growth rate (CAGR) of 13 per cent over the last 15 years. This has placed the city well ahead of other leading Indian office hubs”, CBRE said in a statement.

Top Corporate Realty Market of India

A combination of factors are responsible for making Ahmedabad the most sought after corporate realty destination. Some of the most critical factors have been discussed below:

IT/ITES sector:

Known as the Silicon Valley of India, Ahmedabad has witnessed phenomenal growth in the IT/ITES sector since the early Y2K controversies. Home to more than 40% of the total IT companies in India, the city still continues to attract foreign investment because of supportive government policies, conducive to growth culture and exceptional talent pool. This trend has created a huge demand for commercial real estate spaces in the city for constructing retail spaces, commercial office spaces, IT city centres and IT parks.

Connectivity:

Another reason why this city is considered as a preferred base for corporates is its excellent connectivity. Ahmedabad is home to the third largest airport in India, it is a major railway hub, and has convenient access to major economic centres of India – Mumbai-Pune region, Hyderabad, Chennai and the West Coast. In addition, the city’s local transportation network is superior to that of most other cities in India.

Growth of E-commerce and Global Captive Centres (GCCs):

Off late, major demand for commercial real estate in Ahmedabad is coming from e-commerce players and on-demand car-sharing players. Also, this city plays host to the largest number of GCCs in India, contributing to increasing demand of commercial real estate.

Breeding Ground for Start-Ups:

The booming technology sector, availability of a huge talent pool and stable government has made Ahmedabad a fertile base for starting and running successful businesses. This flourishing start-up culture is also responsible for boosting the demand for commercial realty in Ahmedabad.

Talent Pool:

Ahmedabad is home to many internationally renowned management, medical and engineering colleges. The availability of highly qualified skill pool has been one of the major reasons why corporates prefer to establish their operations in this city.

Therefore, it is evident that Ahmedabad has all the potential to sustain its position as a leader in corporate realty market in India.

Residential Apartments In Ahmedabad Good Investment Option

Ahmedabad, the town of dreams should be visited at least once in your life span. Ahmedabad is developing extremely fast as people constantly look to stay in Ahmedabad with the aim of follow a good career, and several people come just to visit it as a traveler’s place. Regularly, the population is quickly growing and residential properties in Ahmedabad are developing to give safe haven to the upcoming age group.

With the growing employment prospects people are rushing to purchase the apartment for sale in Ahmedabad so that they have their personal permanent safe house. The increasing population these days is evenly supported by the increased buying power that’s why the public are in a rush to purchase apartment for sale in India. As per this existing trend you can say that India is certainly experiencing an apartment boom.

The real estate companies of Ahmedabad are trying tougher to fulfill the ever augmenting demand of Real Estate Properties in Ahmedabad. Really with the growing industries and the development of different types of industry people are coming to live in these big cities for practiced purposes and this trend make them search a good living place for themselves through their family.

So it becomes necessary to have a decent flat or house where they can stay and live their life quietly. But at the same time they require to think regarding their budget too. That is why they search a support that could help them in getting the right home or flats in Ahmedabad without crossing their budget. Hence the major motto of the Ahmedabad real estate is not just to offer their customers a good home or flat, but to offer them a reasonable one which they can simply pay for.

Furnished flats in Ahmedabad differ a lot in the cost range because of the quality and advantage every suburb provides. While several suburbs offer transport benefits, some have a great comfortable lifestyle.

Here are several of the reasons why the city tops the list of sought-after asset destinations:

  • Ahmedabad offers a good confined market for absorbing resale actions.
  • An increasing number of builders are currently offering transparent exit options. As there is ease of exit, investors choose such markets.
  • The market provides good-looking discounts and schemes.
  • In 2017, the residential record piled up in Ahmedabad & this gave investors a possibility to get good bargains.

Another motive is the introduction of global companies to Ahmedabad that has impacted the assets values. Their arrival, of Multinationals, Information technology giant and further big companies in Ahmedabad has spurred the latent demand for high-end and luxury properties. The expert employed with these companies has high salaries and hence opt to buy 2 bhk flats in Ahmedabad instead of renting them out.

Residential property in Ahmedabad is although a grand investment and numerous people who love to invest in flats as numerous find it necessary to purchase several Luxurious flats in Ahmedabad due to the forever growing property rates. Also, with the large accessibility of flats in and around Ahmedabad, several of them either tend to purchase it or take it on rent if buying tends to be costly.

Even though the charge of flats and New Projects in Ahmedabad has been on the increase in the past 4 5 years, there has still been a rise of real estate in Ahmedabad as increasingly people still purchase the flats seeking potential investment.

Crucial Tips for NRIs Investing in Indian Real Estate

Non Residential Indians (NRI’s) holding Indian passports, unlike foreign origin people, hold similar rights as Indian residents in property ownership norms under FEMA rules. They can invest and own Land in the form of Residential and Commercial units, except forests, or agricultural land. Smart NRI’s have taken advantage of these rights and favourable exchange rate differentials to buy properties for their investment potential and sometimes a future retirement home.

However, it’s not always smooth sailing for them. Stories are around of NRI’s falling prey to wrong property investment decisions including fraudulent ones. Real estate, like all financial investments require proper due diligence on the part of the buyer. Here are some tips for the discerning NRI investor who wants to invest in the Indian Real Estate Market:

Purpose: NRI’s are advised to understand their risk appetite and invest in Indian Real Estate with a clear purpose. If its returns that they are interested in, they can get direct exposure by buying real estate units in a developed area and then renting it out. They could also buy equity shares of listed real estate developers which could give them an indirect exposure. NRI buyers sometimes also look for a future retirement home, and this could lead them to investing in a developing area.

Location: Like any real estate deal the world over, location is important. In a country like India where infrastructure lags demand, a location closer to better infrastructure would yield greater long term returns.

Reputation of developer: It is imperative for any customer to do a thorough check of the track record of the developer if it’s a primary sale. Past delays in project implementation and history of complying with laws will give a good indication of the reliability of the developer.

Government policies: Real estate in India is susceptible to changing government regulations. Investment in forest, plantation and agricultural areas are a no-go for NRI’s. Policies related to leasehold, freehold, zoning areas require careful understanding in addition to future plans of the government for that location.

Legal title/document checks: It would be advisable for the NRI buyer to also check the legality of the property. Confirmation should be sought about current owner, past history, any legal disputes, and local regulatory approvals before any deal.

Tax implications: NRI’s should also think through the tax implications including withholding taxes, TDS at the time of a purchase, rental taxes and property taxes should be properly understood with the help of a tax attorney. For NRI’s looking for capital appreciation, it is recommended to stay invested for at least three years to avoid short-term capital gain tax.

Finally, property management is crucial. NRI’s would do well to hire a good property manager or a broker as they may not be in the country all the time. This combined with a sound exit strategy at the appropriate time with good returns will provide the peace of mind every deserving NRI should get when they invest in the Indian Real Estate market.

Six Things to Remember When Applying for a Home Loan

Nowadays, buying homes is no longer an impossible feat. Financial and Non-financial institutions readily provide home loans at attractive rates to prospective buyers. However, there are certain aspects that need to be taken into account before applying for a home loan.

Know your Loan Eligibility:

Typically, Banks can sanction up to 80% of the property value as loan amount subject to your past history in paying credit card dues, home loans, if any, and your current income. Another point to note here; while calculating your net income, banks usually exclude heads like Leave Travel Allowance (LTA) and medical allowances as employees are expected to use them for personal consumption. Only that part of your income will be considered which can actually be utilized to pay off the loan amount.

Know your CIBIL Score:

Your home loan eligibility also depends on your credit score. The Credit Information Bureau India Limited (CIBIL) scores every individual on a scale of 300 to 900 depending on his/her past credit history, management of accounts, management of previous loans, if any, history of any bounced checks, etc. Usually a score of above 700 is considered acceptable for sanctioning of home loans. All financial and non-financial institutions make it a point to check the CIBIL score before sanctioning a loan.

Types of Interest Rates:

There are two types of interest rates – fixed and floating. It is important to understand the difference between the two as these will have a profound impact on your monthly EMI amount. Fixed interest rates are immune to changes in the market conditions and will stay stable throughout the loan tenure, and hence are advisable if interest rates are likely to increase. The floating interest rates change in response to fluctuations in the markets. Therefore, it would be sensible to choose this option if interest rates are predicted to fall.

Loan Tenure:

The calculation of monthly EMI on home loans is based on the loan amount, the interest rate on loans and the tenure. There is an inverse relationship between the EMI and the loan tenure. That is to say, if the loan tenure is long, then the EMI amount will be less on a monthly basis and vice versa. However, it is also to be noted that there is a direct relationship between the tenure of the loan and its interest rates. So, if you opt for a longer tenure, then the amount you pay as interest will be much higher than if you opt for a short tenure period. Hence, careful analysis of different permutations and combinations are needed before you make a decision.

Choose the Lender With Care:

Do careful research before settling on a lender. Look for things such as terms and conditions of offering a loan, the interest rates, loan repayment options, customer service, charges for termination, etc., and go for the one that offers you the best package.

Read the Agreement Documents with Care:

Make sure you read the loan contract carefully with special attention to the small print before signing it off.

These tips can go a long way in simplifying the loan approval process and bringing you a step closer to possessing your dream home.

The Ever Rising Demand of Flats in Ahmedabad

Ahmedabad is the dream city of many. Be it for educational purpose to find that dream job, we often find many people moving to this city to fulfill their dreams. If you are one of those who have moved this ever active city and are looking out for flats to buy in Ahmedabad, then you certainly wouldn’t be disappointed for sure.

People who are looking for homes to buy in the city of Ahmedabad can choose flat located at various locations. A number of people often look for luxurious options that are also affordable at the same time. You can find a number of 2 BHK or 3 BHK options in Ahmedabad and this is due to the launch of a number of small sized projects due to the ever rising demand.

The real estate market can be expensive for the community of middle class. This is due to the reason that the city of Ahmedabad is the most sought after locations when it comes to investments in real estate. A number of people also prefer to buy the flats in Ahmedabad as they provide all the basic amenities and a very organized infrastructure.

There are a number of factors that are considered by a number of middle class home buyers. The most important of this is the budget and there are a number of Residential projects in Ahmedabad that are launched to meet up the expectations of the middle income group. A number of property developers too are coming up with all new projects that are affordable and these are mostly located at the Ahmedabad Pune Expressway. The rise in demand for a smaller house which suits the budget is the prime reason for the launch of these projects. This is indeed a win win situation for a home buyer as well as property developer. The builders need not lose out on their profits and even the home buyers get a flat that suits their requirement and budget.

A number of builders are also coming up with ultra modern and luxurious projects that suit the upper middle class and the rich community. Businessmen do not shy away from spending huge sums of money to own their dream property and they also prefer houses that are located very much near to the commercial hubs.

Buying a property in Ahmedabad is indeed a good investment. The money that gets invested in a good property never goes wasted. All one needs to make sure is to take an advice and choose the right property located at a prime location. With time, the price of the property only gets appreciated and you are good to earn some profits.

So, if you are one of those looking to rent or buy a property in Ahmedabad, do not hesitate. Instead, look out for some of the best properties located in this ever busy city and blend in with its busy lifestyle. With the properties offering the best of amenities at the best prices ever, you as a home seeker will never get disappointed.