There are cities in India, such as Mumbai, Delhi, and Bangalore which are known as well developed. Per capita income as well as prices of properties is very high in these cities. Residents of these cities don’t mind spending money in properties these days as they find good future prospects in these apartments. Capitalizing on this human sentiment different small and large development companies are building their projects in and around the city. People from different parts of the country flock in the cities as good income prospects are quite evident.
Across the country the average prices of real estate housing projects have gone down by 15% to 20% in last 18 months. On last 9th December, CREDAI has clearly said that there’s no scope of further reduction in prices.
To enhance its offered facilities in real estate space, Quikr has acquired the much required real estate platform Realtycompass. The decision also has lot to do in complementing QuikrHomes as well.
This is truly a nice initiative taken by the industrialists of Kolkata. Their concern is very clear. They want a platform where entrepreneurs can buy and sell land properties online. They want innovative portal of that kind from the West Bengal Government. This will not only add the much required transparency in land deals but also industrialists would get a chance to monetise land tracts of factories which have been declared closed or have their shutters down.
The real estate platform, introduced by Snapdeal at the time of Dhanteras has received an overwhelming response from the targeted audience. According to Snapdeal 10,000 registrations were recorded during 3rd to 9th November, 2015.
If we compare the September quarter this year and of the previous year, it’s 17% rise in home space sales in 8 metro cities, according to the renowned property research firm, Liases Foras. The improving economic sentiment shows that the individual buyers now assume that the market has bottomed out.
In India it’s a common phenomenon to buy property during festive season. Diwali is a big festival in Kolkata, India. Real estate property buyers take pleasure in signing the papers during this festive time. It’s an investment that is being cherished by the buyers. Big construction companies in Kolkata capitalize on this huge opportunity to improve their customer base. To increase sell, construction companies come up with a range of Diwali offers for their customers. They work on different plans to make customers book their flats very quickly. This diwali will not be an exception as well as property developers will also try to add more customers to the list. In this Diwali property developers are trying to recover on the slackness over the preceding months as far as the residential flats are concerned.
Now the main question is whether these freebies make real sense to the property investors? In fact irrespective of these offers investors have to look at the real value of the property in which they want to invest. Investors and buyers have to look at the actual value considering all the relevant associated factors rather than only focusing at the freebies. No amount of freebies can compensate on low quality construction materials, bad location of the projects, old elevation style and over price. Buyers of real estate in Kolkata have to make sure that the property they are buying is good for long run. An overpriced property can’t do justice to the hard earned money of the customers, even though the property developer offers a car with the particular flat.
Buyers can actually look for some value for money incentives such as discounts on down payment, stamp duty waiver, low clubhouse membership charges, discounts on smart home features etc. There’s no point getting incentives in form of cars, vacations etc.
In the last couple of years, India has made a drastic growth in the IT sector. The enormous expansion in the IT sector has contributed to the high industrial as well as the economic growth. Several industries have also benefited from this growth. But one industry that benefited the most is the real estate sector of India. And to fulfil this demand, the property developers are increasingly developing residential and commercial space in the metros across India. The cities like Delhi, Mumbai, Kolkata, Chennai are considered as favourable options for residential and commercial activities. People from other parts of the country throng to these cities in search of better employment opportunities, a better lifestyle that has lead to the high demand for residential property in these places.
Real estate in Kolkata is undergoing industrial and commercial development since long. Trying to catch up with the trends in other metro cities this city has also closed in. People buying apartments in Kolkata are now looking for premium lifestyle options. If you talk about central Kolkata, the demand for houses and properties there too has increased by leaps and bounds. Moreover, the metros and flyovers have improved the transport system for which they have become hot choices for the investors as well.
With time, real estate has become one of the most promising arenas for investment in India. While many experts would agree to this situation, some would still keep their their hands off from an investment like this as they perceive it to be quite risky for them to handle! But people need to keep in mind that every investment involves certain amount of risks that cannot be avoided.