Trustworthy Real Estate Consultant- Bharat And Company

Friday 26 September 2014

New Gurgaon: Uncertain future

As the city of Gurgaon grew and expanded its boundaries, newer areas needed to be brought under the development umbrella. The new upcoming sectors in Gurgaon encompass the region surrounding the under-construction Dwarka-Gurgaon Expressway (also called the Northern Peripheral Road). Most of these sectors are approved for group housing projects, with a handful of commercial projects also approved for development.
The Next Development Hub
The two main clusters are along the upcoming Dwarka-Gurgaon Expressway in New Gurgaon's Sectors 102 to 113 and Sectors 76 to 95 along the NH-8 connecting Gurgaon to Manesar. Both these clusters were predominantly marketed as affordable and mid-income housing catchments.
A host of projects were launched in these locations over 2009 and 2010. The peak of these areas' popularity was in mid-2010; however, as with most developments, a generic price rise of between 15-20 per cent dampened demand with price-sensitive buyers.
Although still favoured by budget home seekers, these areas have also seen recent launches in the premium segment by bigger developers like Sobha, ATS and Puri Constructions.
This phenomenon has attracted high net-worth buyers and investors who are looking for capital appreciation opportunities. In comparison to projects in the Dwarka - Gurgaon Expressway precinct, the developments along the NH-8 — spanning sectors 76 to 95 — are selling at lower price points.
Connectivity to these areas is expected to improve further with the development of the Northern Peripheral Road and the arterial sector roads.

Sector-114, which lies near the upcoming Dwarka Expressway, is designated for commercial use. Due to its proximity to Delhi and the airport, commercial development here is expected to witness good demand levels. However, the demand for commercial office space would depend on the completion of the Dwarka Expressway, the internal sector roads and other infrastructure improvements. Currently, connectivity is through a 24-metre sector road.

High Potential Meets Uncertainty In Gurgaon’s Emerging Residential Areas

As the city of Gurgaon grew and expanded its boundaries, newer areas needed to be brought under the development umbrella. The new upcoming sectors in Gurgaon encompass the region surrounding the under-construction Dwarka-Gurgaon Expressway (also called the Northern Peripheral Road). Most of these sectors are approved for group housing projects, with a handful of commercial projects also approved for development.

The Next Development Hub



The two main clusters are along the upcoming Dwarka-Gurgaon Expressway in New Gurgaon’s Sectors 102 to 113 and Sectors 76 to 95 along the NH-8 connecting Gurgaon to Manesar. Both these clusters were predominantly marketed as affordable and mid-income housing catchments. A host of projects were launched in these locations over 2009 and 2010. The peak of these areas’ popularity was in mid-2010; however, as with most developments, a generic price rise of between 15-20% dampened demand with price-sensitive buyers.
Though still favoured by budget home seekers, these areas have also seen recent launches in the premium segment by bigger developers like Sobha, ATS and Puri Constructions. This phenomenon has attracted HNI buyers and residential property investors who are looking for capital appreciation opportunities. In comparison to projects in the Dwarka-Gurgaon Expressway precinct, the developments along the NH-8 – spanning sectors 76 to 95 – are selling at lower price points. Connectivity to these areas is expected to improve further with the development of the Northern Peripheral Road and the arterial sector roads.
Sector-114, which lies near the upcoming Dwarka Expressway, is designated for commercial use. Due to its proximity to Delhi and the airport, commercial development here is expected to witness good demand levels. However, the demand for commercial office space would depend on the completion of the Dwarka Expressway, the internal sector roads and other infrastructure improvements. Currently, connectivity is through a 24-meter sector road.
Demand for commercial office properties in this part of Gurgaon is likely to pick up over the next 3-5 years, when certain projects will show visible signs of construction progress and this will provide a clearer vision of the completion timelines for the Dwarka Expressway. Apart from its proximity to the airport, this region will also benefit from the planned Metro connectivity, which will further fuel demand for office space.
However, the, bottom line remains that only complete clarity on the timelines for the infrastructure developments in this part of New Gurgaon will finally boost commercial office space demand in this sector. Its proximity to Delhi and the development of the Expressway and the Metro will definitely prove advantageous to this sector over the medium to long term.
Most of residential property demand for mid-segment housing is concentrated around the upcoming residential corridors around the Northern Peripheral Road and other sectors around NH-8. Prices in these projects have appreciated steadily over the second half of 2010 and the whole of 2011. This is an indicator of the healthy demand in these clusters.
The Southern Peripheral Road is close to the established residential corridor of Sohna Road. A host of residential projects have been launched here by Unitech, Tata Housing, Today’s Group, BPTP and Tulip, among others. Residential prices on the Southern Peripheral Road are closer to those of projects on Sohna Road and vary between Rs. 4600-7200/sq.ft. Both these upcoming residential real estate corridors in Gurgaon offer a host of options by reputed developers, at and prices which allow for a potential capital appreciation.
Struggling With Challenges
On a more somber note, a lot of the proposed infrastructure in these clusters is still being put in place. For instance, the Southern Periphery Road and the last stretch between Sohna Road and the NH-8 are still incomplete. No clue is yet available on the issue that is delaying the completion. The contract for the Dwarka Expressway has been awarded to Indiabulls, and construction is slated to finish over the next 12-16 months. The concern going forward is two-fold:
1.    The support infrastructure – specifically the arterial and sector roads, traffic management, civic services, etc.
2.    The developers’ ability to finish their projects, adhere to schedule and delivery quality
Also still to be demonstrated is the ability of the civic authorities to create and maintain infrastructure which will be able to sustain the pressure of a sizable addition to the population over the next 4-5 years.
Physical infrastructure like roads, power and sewage disposal are developing at a slower pace than what working at optimum capacity would deliver.
o    The road infrastructure, in particular, has struggled to cope with the increase in vehicular traffic.
o    The sector roads in upcoming clusters need to be fast-tracked (the current state of existing roads does not inspire much confidence)
o    Gurgaon has been plagued with inadequate power generation; with power requirements increasing rapidly, concrete steps need to be taken in this regard.
In short, infrastructure development in Gurgaon has definitely not kept pace with the speed of real estate development. The Millennium City is already challenged in providing the right quality of life to its citizens, and the upcoming developments there are going to exert further pressure even as capacity building remains at sub-par levels.


Friday 19 September 2014

Things to consider when buying property in Delhi (NCR)

Buying property is always a big moment in anyone's life and when buying property in a foreign country, it becomes an even more momentous happening. For a very long time, buying property in United Arab Emirates was something that only the bravest did. However today, especially in Delhi (NCR), buying property is as easy as it is anywhere in Europe or US.



In fact, thanks to a number of factors, buying property in Delhi (NCR) is today one of the smartest and most lucrative investments. That being said, there are still a number of things that you need to consider when you decide to buy property in the city of future.

1. Location
Location is always an important factor when buyingproperty and in Delhi (NCR) it is perhaps even more important than in some other global cities. There are still parts of this great city that are considered to be unattractive for someone from abroad, while there are also those which are extremely popular and where the property value is on the rise for years, with a constant trend of going upwards. These locations involve the Delhi (NCR) Marina, Palm Jumeirah, Jumeirah Lake Towers and Downtown Delhi (NCR). One area that is rapidly growing in popularity is the Delhi (NCR).

2. Developer's and contractor's reputation
For the most part, when they buy property in Delhi (NCR), people buy unfinished property that is being developed at the time of purchasing. Because of this, it is absolutely essential to first check the reputability of the developer, check their track record and their previous developments. If there are any signs that not everything is above board, it is best to go with someone else.
It is just as important to check the building contractor who is doing the construction work on the property. The quality of construction work can vary greatly and it is absolutely crucial that you can check their past work and that you can talk to someone who will give you an objective assessment of their expertise.

3. Potential ROI
The potential return on investment is exquisite for Delhi (NCR) today and it seems that the realty market is only going to expand and grow in the years to come. The demand for property is growing daily and the same goes for rent demand. More and more expats are moving to Delhi (NCR) as it grows as a regional and global center and the vast majority of experts agree that there is currently no danger of anything negative happening on the Delhi (NCR) real estate market.

4. Monthly costs
The costs of monthly utility bills and maintenance can vary to a great extent in Delhi (NCR) depending on a number of factors and it is a good idea to check what you can expect in terms of electricity and service charges, water bills, and so on. There are areas where this can be a more-than-a-slight problem while there are places where you will find some great deals in this respect.

Once you have bought your new property in this incredible city, it is time to start decorating and moving in. It is always a good idea to find the most reputable Delhi (NCR) movers who will help you with your moving process and make your new move the easiest one ever.


Why Loans Are Still Hard to Get

In the early days, if you wanted a mortgage loan, you had to have a job, some down payment money and good credit. While that's still true today, loans are more difficult to get.
Lenders look for more information about you,  making the process take longer than it used to. If you're wondering why, the reason is buy backs. A buy back is a loan that the lender originally issued and then sold to another lender, mortgage servicing company or to Fannie Mae or Freddie Mac.



If the borrower defaults on their loan, lenders want to know why.  Fannie and Freddie look to see if there was a problem in underwriting or something fraudulent about the loan that contributed to the borrower's default. If so, the lender could be forced to buy the loan back.

Explains David Reed, author of Mortgages 101, "When a mortgage company makes a home loan, it doesn't pull money out of its savings accounts, but instead utilizes a credit line from which it draws. The lender approves a loan, draws down its credit line by $300,000 to issue the mortgage. If a lender does this several times a day pretty soon that credit line would start to look a little thin. When a lender needs to replenish its mortgage coffers, it sells the loans it has already made to other lenders."
There are specific purchase agreements between lenders who buy and sell loans. These are called conforming loans, because the loan must meet certain criteria to be eligible for purchase by a secondary party. It can't exceed a certain amount, may require a minimum down payment and the credit scores of the borrowers may not be below 620, for example. That way lenders who buy loans don't have to re-underwrite a loan that's been certified by the original lender as a "sellable" mortgage, says Reed.

To avoid any potential buy back, lenders today are asking for more documentation than previously required, or asking that borrowers meet stricter credit terms than those required for conforming loans. The result is that lenders are taking more time to close loans.

Reed points out that if one were self-employed, the underwriter would ask for maybe one year's tax return. "Now, two years returns are required, and even three years, if the underwriter feels uncomfortable with a loan," he says.

The bottom line for borrowers is be prepared to offer more documentation and for the purchase transaction to take longer. That doesn't mean the lender is going to decline the loan.
In fact, one way to look at the situation is that it's an advantage for borrowers. It may be tougher to get a loan, but it's also going to be tougher to default.

Real Estate Marketing Strategies: How To Thrive In Today's Rising Market

Here are the 3 stumbling blocks that almost every real estate agent has:
  • Procrastination
  • Prospecting
  • Disorganization
These can prevent you from thriving in today's rising market. Here are some techniques to help you overcome these obstacles.



Procrastination
If you have suffered from procrastination for years, you are not alone. 99% of all Americans report being held back by their procrastination patterns.
While there is no "quick fix" to get rid of procrastination, there are some powerful steps you can begin to implement right away.

Step 1- Stop beating yourself up. If you keep beating yourself up, you only lower your energy, drive and motivation and start creating a vicious circle of negativity, which leads to more procrastination. Whenever you hear your mind beginning to put you down or beat you up, just say the word STOP, either out loud or inside. Take a DEEP BREATH. Put in a positive new thought such as,
  • "I love and approve of myself 100% of the time."
  • "I refuse to judge or criticize myself when I make a mistake."
  • "I accomplish all tasks in a timely manner.”
Don't hesitate to intervene on your own behalf. In fact, be very vigilant about it.

Step 2- Become aware of the Self-Limiting Beliefs that cause your procrastination. These could be subconscious beliefs about yourself, such as "I'm not good enough.", beliefs about money, such as Tthere is never enough money." or beliefs about success, such as "If I'm successful I won't have balance in my life".
Remember these are not facts, they are just beliefs, and beliefs can be changed.

Step 3- Replace Self-Limiting Beliefs with Empowered Beliefs. Make it a point to say these empowered beliefs to yourself every morning and every evening. This creates a new groove in your subconscious mind, leading to an increase in confidence and a boost your self-esteem:
  • "I have all I need to succeed.”
  • "I am perfectly imperfect like everybody else.”
  • "It's safe to me to be as visible as I want to be.”
  • "I give myself permission to ask for what I want."
  • "I have a valuable service to offer and people are happy to hear from me.”
Here's a BONUS TIP: The next time you get an idea, trust yourself, don't hesitate, just take action. If you take action right away, you will be riding the wave of energy that created that idea in the first place. The action will seem easy and effortless. That's called Inspired Action.
It requires that you Trust yourself, instead of second-guessing yourself.

Prospecting
If you have the mindset that says prospecting means you are begging or you are asking for business, then you will hate it and avoid it. On the other hand, if you have the mindset that prospecting is about offering your gifts and talents to people who really need you, then you will begin to have a positive feeling about prospecting. You will see it as an opportunity to be of service and to give your gifts and your expertise to people who really need it.
The most common self-limiting beliefs, that stop you from prospecting are:
  • "If I prospect, I'm bothering people."
  • "It's not okay to reach out and ask for what I want."
  • "If I prospect, I won't know what to say."
The good news is that the power to change a belief is in the present moment. No matter how many decades you've had a belief, you can change it. You are not stuck with it.
Change your mindset to one of making a contribution. When you wake up in the morning ask yourself, "Who can I help today?” People will sense this and will be immediately attracted to you.
Self-limiting beliefs can be replaced with these updated Empowering Beliefs:
  • "I now realize I did is perfectly safe to be visible.”
  • "I attract my Ideal Clients.”
  • "I have a valuable service to offer and people are happy to hear from me.”
If your offer matches what another person needs then you have a client. If not, then go onto the next. Always remember, there's no such thing as REJECTION.

Disorganization
Most people who are disorganized just think that they were born that way and they can't do anything about it. The truth is that our beliefs create our reality, and if you believe that disorganization is a sign of success, then you will create that. Take a moment to think about what deep-seated subconscious self-limiting beliefs might be causing you to feel stuck about that part of your life.
Ask yourself, "Do I always, 100% of the time, feel that I DESERVE it"?
If you want to thrive in today's Rising Market, you need to feel deserving of having an abundance of all good. Check inside yourself and see if you have picked up any old self-limiting beliefs such as: "I don't deserve a lot of money” or "I don't deserve to have it all”. If you look deeply enough, if very likely be picked up a belief like that in your conditioning.
When you release and reprogram your old Self-limiting Beliefs, you leave room to install updated empowered beliefs. Procrastination, fear of prospecting and disorganization will then become things of the past. You'll be operating from a Pro-Success Mindset which makes you "unstoppable".


Real Estate Transactions Go Green

It's easier than ever to put a green spin on housing, but not always quite how you may think.

"Green" real estate often refers to planet-friendly construction materials, energy efficiency and sustainability in both form and function for new and existing homes.




The sense that Earth's resources aren't limitless is finally starting to hit home with many housing consumers. That can extend to real estate transactions as well, by eliminating paperwork and accomplishing more electronically.

With virtually everyone equipped with a smartphone, there's no end to what can be achieved in a green way, especially in the real estate arena.
Smartphones have streamlined almost everything we do, putting us in constant contact with friends and family, colleagues, and nearly limitless information.
With the ability to research anything right at our fingertips, it's easier than ever to access and aggregate information while on the go - and with less paper waste.

From apps designed to help us get the most out of a house hunt to immediate document turnaround via mobile email and communications with a real estate agent, the process of buying a house has never been more convenient, efficient and effective.

Green real estate transactions
 
Gone are the days of slogging through the big book of paper listings in an agent's office before heading out for the home search.

Instead of sifting through reams of fliers and handouts, you get instant property details, including photos, videos and information from your agent sent right to your phone.
Once you've found your dream house, your agent can communicate your interest immediately to the seller's agent and get the ball rolling on a sale.

Because paperless transactions require less time, negotiations get a boost and there's less waiting. Technology allows the convenience of digitally initialing and signing off on multiple forms and documents rather than relying upon a plethora of printouts.

National Association of REALTOR®, designated ePro certified agents and similar real estate company designations are trained and experienced to be more conversant in the high-tech approach to real estate transaction.

Eliminating paperwork gives your agent more time to spend focusing on you, your housing needs and your home search or home sale.

You likely are already mobile ready for your home buy or sale.
To learn how technologically "green" your agent is, talk to him or her about the various ways he or she deploys technology to benefit you.


Big Or Small: Which Size Home Is Best For You?

This can be a tricky question to answer. Partly because our needs change over the years and decades. After kids leave home, maybe smaller is better but prior to that, maybe a bigger home is what you're seeking–room for the kids, dog, and tons of the kids' sleepover friends.


The trends reflect our indecisiveness too. Sometimes McMansions are on the rise and then there's the complete opposite: tiny, tiny homes. In fact, you can watch fascinating shows online about families of four with a couple of dogs moving into these tiny well-designed homes or homes on wheels.
While that small may be far too small, size is a big consideration. It's also something you should think about before you go house-hunting for that perfect home.
Of course,while there are many personal reasons involved in choosing which size home is the best fit, there are also some very important considerations that can help you decide.
Here are few things to help you weigh your options.
The bigger the home, usually the higher the mortgage. You pay for what you get. It's likely the mortgage payments will be more. However, a smaller home with more amenities is sometimes not that far off in price from a larger home that gives you a bit more square footage.
Think about if you are planning to stay in the home a long time. If so, getting a bit more square footage now might be better than having to move again in a short period of time when you may outgrow the home.
Decide how much home you're willing to maintain. For instance, do you want the responsibility of a big back yard or do you want to have something in a planned development, such as a town home, where there is limited yard space to decorate and maintain. That reduced yard size can give you a lot more freedom and leave you with more money in your bank account as opposed to paying for landscaping maintenance.
Do you work from home or might you someday? This is really important these days as more and more people are working from home and setting up desk space on the dining room table is not optimal. If you think you might be working from home someday, look for a home that will have enough space for you to work, even it it's just a screened-off nook somewhere in the house. No doubt, you'll find a good use for the space, whether or not you actually work from home.
If you want a bigger home but aren't sure you can afford it, consider your options. Can you get a roommate? Increase your income? Decrease your debt? Or maybe you can wait a little bit longer and save more to get into the home you really want.
The important thing is to think about the size and style of home you want before you start your house-hunting. This will help you target homes that are most suitable for your needs. Be sure to consult with experts to get the best advice and find out how much home you can really afford.