Gamut Of Factors That Influence The Demand Of Properties In Bellandur

Bellnadur has witnessed a rise in the demand of the real estate in the last few years. According to a report states that on the first quarter of this year there was a massive increase in the demand for properties and among the different hotspots of real estate in the city of Bangalore it was the ninth most sought location. As per the local realtors, there has also been an increase in the queries related to the investment in various properties in this region. A number of factors contribute to make this region a most sought one than the other locations.

Proximity with IT hub

This region is known to be located centrally to that of the IT hub. The eastern and southern parts of the city can be reached easily from this region. THE Electronic City is only 15 to 18 kilometers from this region and if you travel through the Hosur Road, it will take only half an hour. The eastern fringes of the city can be reached easily through Outer Ring Road. So the IT professionals residing in this region finds it easy to reach their office in a short time. Few of the offices can also be reached in less than ten minutes as it is in walking distance. Also know about Emporis Tower Noida and Wave City Center Noida

Emphasis on improving connectivity

The roads are well-developed and via the network of roads, you can reach the different parts of the city easily from Bellandur. The region has a railway station of the same name adjacent to it that is only 5 kilometers from the Bellandur Lake. You can avail the different modes of public transportation when in this area in the form of shared autos and buses. A flyover is proposed to be constructed near the Bellandur junction and this is expected that this will have a positive impact on the traffic movements and also reduce the travel time remarkably.

Percentage of rise in demand

The social infrastructure of this region is highly developed and because of the proximity of the place to the major corporate centers there has been a remarkable surge in the demand of these properties. As per the recent data, by one of the major real estate related website like Globalncr.com, there has been a rise of twenty percent in the demand of the real estate in the last one year. In fact, there has also been a great leap in the prices of the properties in and around this area. You may also like DDA Land Pooling Policy Delhi.

Rate of property

The properties that had priced approximately Rs. 40 lakhs last years now cost almost Rs. 50 lakhs. In comparison to the interior region, the properties adjacent to that of the Outer Ring Road cost more. The plots and the properties that are located around the Bellandur Lake ask for the Preferred Location Charges from the investors. However, this price differs based on the developer that you choose. There are both 2 BHK and 3BHK apartments in this area. The price of the property differs based on the location that you choose. On average, the price of the property is in the range of Rs. 4,100 to Rs. 5,700 per square feet.

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UP Govt Also Planning to Launch Affordable Housing Scheme Approx 3 Lakh Houses by The Year 2016

Since UP govt. aims to cater mainly the middle class group, the govt. declare to be soon launching "Samajwadi Awas Yojna'' and also announced that attempting to cover 3 lakh houses by the year of 2017

The Principal Secretary Housing Sadakant stated"The cabinet has decided to launch 'Samajwadi Awas Yojna ' to benefit medium income group, besides fixing ceiling rates for apartments".

He also mentioned that the construction cost will lie around Rs 15 lakh to Rs 30 lakh under this scheme and it will free have cost, as per the policy the land use conversion is free. Although the maximum limit of construction cost is already fixed by the government along with carpet area of 65 sq mt to 75 sq mt. And the price ceiling will reach 3,000/sq feet as in the National Capital Region, 2,800 in metros and 2,500 in other cities.

He also states, "The government has decided to fix ceiling on per square feet rate of the apartments. It will not exceed Rs 3,000 square feet in national capital region, Rs 2,800 per square feet in metro and Rs 2,500 in other cities."

Under the latest initiative of Samajwadi Party Awas Yojna,this scheme has been launched, in which the UP Govt. has planned to build over and about 2 Lakh affordable houses all over the state.

The scheme could be implemented in rural areas as well as suggested by Sadakant.

He also said that there will be a downfall in the accountability, but the govt. was committed to step ahead once a report received. Answer to the question raised on corruption in housing govt. authorities.

The govt. will stating registrations process for almost 5500 affordable houses in the capital Lucknow under the two different schemes,out of which 3000 flats are under Vrindavan Yojan and other 2500 flats are under Avadh Vihar Yojna both in Lucknow,located near Shaheed Path Nagar extension.

On the other hand, The Housing & Development board Govt. is also preparing to more reduce the construction cost in order to make even cheaper flats.

He said that concessions would also be offered, which include rebate in the stamp duty and single window clearance. He said that the government has also framed bylaws for land use conversion.

"Under this a separate infrastructure fund would be created in which people will know that it will be used for development," he said.

The principal secretary said that the government has also decided to relax provisions under hi-tech township scheme.

On protecting farmer's interest, he said that land acquisition law has become more stringent and under it the farmers are to be made stakeholders.

Regarding illegal colonies, he mentioned that a policy would be brought soon.

On a question regarding corruption in government housing authorities, he said that there has been a drop in the accountability, but the government was committed to take action once a report was received.

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IT Professional Guide to Buying a Home in Chennai

There is a local saying in South India that if you threw a stone in Bangalore, it will fall on an IT professional! The same could be true in Chennai too! Apart from the innumerous Automobile factories and related assembly plants, Chennai has shaped into a heaven for IT companies. The IT corridor which was opened more than a decade back has developed into something beyond comprehension and the OMR is not literally an IT corridor, the entire way!

Apart from the Old Mahabhalipuram Road, there are a number of notable IT parks in the city which house enough job opportunities for thousands of IT professionals under the same roof. The DLF IT park in Porur, the Olympia Tech Park in Guindy and the Ambit in Ambattur are prime examples of how an IT park can change the overall outlook of an area in Chennai. Also know here for related property in Noida like Antriksh Urban Greek and Revanta Surya Homes Dwarka

Being in Chennai as an IT professional gives you the advantage of being able to buy a residence unlike a counterpart in say Mumbai or Delhi where the spiraling property prices make apartment buying out of reach for a common man!

Buying an apartment or a villa in Chennai is not simple. The sheer number of choices would confound many! Which area should you settle for without overshooting your budget remains to be a huge question on everybody's mind? We give you a few points to ponder while trying to finalize your choice of locality.

Access to Job hotspots

Chennai is one of the very few cities where areas demarcate the type of jobs available! For example, the outskirts of the city towards Chengalpet or Ponnamallee have industries which would suit people of such skills set. They can prefer areas like Porur or Mahindra City. IT professionals can clearly stick to Tambaram, Velacherry and the adjoining localities for their property purchases.

 Connectivity

The city is well interlinked by a well-planned network of local suburban railways and now an upcoming metro system. The buses are large in number and the smaller localities are covered by mini-buses and share autos. However, some areas tend to be a bit remote even now so check on the accessibility. Do not go by the builder's claims of being well-connected. Decide for yourself after trying the means of transport available.

Roads/Infrastructure

By majority the roads in Chennai are good. However, they get a heavy lashing during the monsoons. Areas like Global NCR and Perungudi are low-lying and are prone to water logging. This damages roads too and can be troublesome during commute. Check with the locals on how bad the water draining problem is in the area.

Water

Potable water happens to be an issue in Chennai. There are areas like Moggappair where the ground water is rich in iron content which makes it hard to use for domestic purposes unless it is treated. Then there are areas like Alandur where ground water dries up in summer! Make sure you know what you are getting into. Bigger residential complexes deal with water crisis more effectively.

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