PropLadder Real Estate News

Hyderabad

Hyderabad
  • Tips for Buying a Home in Online June 30, 2015
    propladder.com

    Tips for Buying a Home in Online

    Before buying home many of us will follow traditional methods that are hiring a real estate agent, and through that agent they will know where the properties are, cost of those properties and everything. Agent will be the moderator between the buyers and builders.

    Everyone wants a trustworthy agent because we are going to spend our hard earned money on buying home, but hiring an agent is not a simple thing, we just work out for that. But internet makes it as an easy process.

    Here there are some suggestions from us finding your home in online.

    Buying a home in online is tad various than the traditional, here you can take suggestions from others those who have already experienced in buying home in online, you can share your views with others too, and you can keep in update with the price trends in real estate by signing in real estate forums.

     

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  • Telangana has big plans to hike registration fee for flats July 13, 2015
    Telangana has big plans to hike registration fee for flats

    Telangana has big plans to hike registration fee for flats

    Hyderabad: Property buyers in Telangana will soon have to pay more with the Telangana government finalising proposals to hike registration values after a gap of two years.
    The increase in property registration values in posh residential areas like Manikonda, Nanakramguda, Tellapur etc., where a large number of residential apartments and multistoried buildings are coming up, will be higher as the Telangana government is devising proposals to fix area-specific registration values based on the demand of the location. The new registration values are expected to come into force from August this year.
    Though the state government had planned to increase registration values in August last year, it was put off at the last minute as Chief Minister K. Chandrasekhar Rao was averse to a hike since it had been just two months since the state was formed. The government, however, feels that now is the time for revising registration values and has asked the Stamps and Registration department to submit proposals at the earliest.
  • Real estate in TS still sluggish July 20, 2015

    Real estate in TS still sluggish

    Real estate in TS still sluggish


    As Telangana reached its one-year milestone, the real estate sector in Hyderabad appears to have given up hopes of a quick recovery of fortunes and instead remains content with slow and incremental growth.

    Real estate activity, which relished the boom period of 2005 to 2008 with large scale construction work in and around the city, was left with a bitter taste during the global recession followed by the agitation for a separate State. Construction activity almost came to a grinding halt and builders were left with unsold inventories piling up in large numbers.

    The coming of Telangana last year was seen by most in the building community as ushering in a new dawn for the construction industry and hopes were pinned on a quick revival being just a matter of months. Most predicted real estate activity to start flourishing by December 2014. However, that was not to be so.

    But then, the builders do not really seem perturbed at their calculations having gone awry and express satisfaction at the slow growth that has been registered in the last one year. “Agreed that business for us is not in the fast mode but at least we are slowly moving out of standstill status,” says P. Dasarath Reddy, president, Telangana Real Estate Developers Association (TREDA).

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  • Real estate in TS still sluggish July 27, 2015

    As Telangana reached its one-year milestone, the real estate sector in Hyderabad appears to have given up hopes of a quick recovery of fortunes and instead remains content with slow and incremental growth.

    Real estate activity, which relished the boom period of 2005 to 2008 with large scale construction work in and around the city, was left with a bitter taste during the global recession followed by the agitation for a separate State. Construction activity almost came to a grinding halt and builders were left with unsold inventories piling up in large numbers.

    The coming of Telangana last year was seen by most in the building community as ushering in a new dawn for the construction industry and hopes were pinned on a quick revival being just a matter of months. Most predicted real estate activity to start flourishing by December 2014. However, that was not to be so.

    But then, the builders do not really seem perturbed at their calculations having gone awry and express satisfaction at the slow growth that has been registered in the last one year. “Agreed that business for us is not in the fast mode but at least we are slowly moving out of standstill status,” says P. Dasarath Reddy, president, Telangana Real Estate Developers Association (TREDA).

    According to city builders and developers, there has been a steady, albeit incremental growth in enquiries and footfall at project sites, particularly in the last six months. “If not euphoric, the mood is definitely optimistic. Unlike earlier years, enquiries are converting into sales but the conversion rate has to go up,” observes Anand Reddy, co-founder, PBEL-INCOR.

    Real estate in TS still sluggish

    Real estate in TS still sluggish

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  • NTR Invests In Real Estate July 30, 2015

    Hyderabad: Narne Srinivasa Rao and his father Narne Ranga Rao are people with rich experience in real-estate sector. ‘East City’ located in Bibinagar, Hyderabad belongs to them. Narne Srinivas Rao is the father-in-law of Junior NTR. Apparently, Junior is also now following in the footsteps of his father-in-law.

    NTR Invests In Real Estate

    NTR Invests In Real Estate

    NTR is believed to have invested in some commercial and domestic flats which are now giving him good rents. Tollywood biggies investing in real-estate is not a new phenomenon. Shobhan Babu, Murali Mohan, Nagarjuna, Chiranjeevi have always been active in this sector with good results.


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  • ISRO successfully launches PSLV-C28 carrying 5 UK satellites July 11, 2015

    SRIHARIKOTA: Heralding a new era, India tonight launched its heaviest commercial space mission ever with its polar rocket successfully putting five British satellites into the intended orbit after a flawless takeoff.

    Indian Space Research Organisation(ISRO) workhorse 44.4 metre tall Polar Satellite Launch Vehicle PSLV-C28–a PSLV-XL version–hurtled towards the night skies with a rich orange flame at its tail and a plume of white fume and placed the five satellites in sun synchronous o .. 

  • Is real estate really the best investment? July 25, 2015

    Last decade’s housing bubble is becoming a distant memory. Mortgage rates are near historic lows, interest-only loans are back and everyone loves real estate as an investment again.

    More than 1 in 4 Americans (27 percent) said real estate was the best investment for money they would not need for at least a decade, according to a new Bankrate.com survey of 1,000 investors. Cash came in second with 23 percent of investors, only 17 percent said the stock market is their preferred place for long-term money and just 5 percent said they would put their long-term money in bonds.

    It is the first time real estate has taken the top spot in the three years Bankrate has been conducting the survey. Cash was investors’ favorite in 2013 and 2014. “It begs the questions if more Americans are once again viewing real estate as a golden ticket,” said Greg McBride, chief financial analyst for Bankrate.

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  • IKEA buyes 13 Acre land near Hitec City, Hyderabad for 250 Crore July 20, 2015

    According to reliable sources 13 Acre land parcel was bought at 250 Crore by IKEA from the Telangana Government, to build its first retail store in India.

    The strategically-located, 13 acre site is close to HITEC City, the IT hub, is within easy access to public transport and next to an upcoming metro line, the company said in a statement.

    The company is in parallel evaluating suitable sites in the cities of Bengaluru, Mumbai, and Delhi NCR to open 25 stores in the long term.
    IKEA had last year signed an MoU with the Telangana government for opening the store.
    According to a statement then released by the government, IKEA retail outlets have a standard design and each location entails an investment of $100 million (Rs 500-600 crore). Headquartered in Sweden, IKEA is one of the world”s largest and recognizable international furniture, household goods and textiles retail company. It has been sourcing from India for the last 28 years and it plans to double its sourcing volumes in the country by 2020.

    Around 45,000 people work directly for 50 IKEA suppliers in India and about 4,00,000 in the extended supply chain. IKEA has recently organized three “Make more in India” campaigns, including one in Telangana, to look for new suppliers, said the statement on Friday.

    Telangana chief minister K Chandrashekar Rao said IKEA will bring best business practices, great employment opportunities and contribute to the overall development of the city. He assured all necessary support to IKEA for its future expansion plans in the state.

    IKEA India CEO Juvencio Maeztu said, India was a very promising market for IKEA as it offers them the opportunity to source, retail, conduct CSR initiatives through IKEA Foundation and empower social entrepreneurs through next generation projects.

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  • Foreign investors add Indian online property portals to shopping cart January 12, 2015

    Indian businessman Navin Bhartia’s Internet habits make him a dream customer for billionaire foreign media moguls like Rupert Murdoch.

    The 45-year-old from Kolkata likes to buy homes online, sometimes without visiting them. In the last four years, he has bought five properties for 40 million rupees ($641,900) on Proptiger.com, partly owned by Murdoch’s News Corp.

    Foreign investors like Murdoch have already put more than $200 million into portals that help people like Bhartia buy homes. Spurring the interest is Prime Minister Narendra Modi’s vow to provide a house to every Indian family by 2022 as the country’s growing army of Internet users embrace e-commerce.

  • Five Questions For Home Buyers July 20, 2015

    No loans to repay, modest aspirations and not a very ambitious retirement target. For Mumbai-based bank executive Alpesh Mehta and his schoolteacher wife Deepali, saving for their child’s education and marriage, as well as their own retirement, will be a breeze. But this could change if they go ahead with their plan to buy a house. In Mumbai, the minimum price of a 800-1,000 sq ft house is Rs 1 crore. They will have to liquidate all their existing investments to raise about Rs 20 lakh for the downpayment. The balance Rs 80 lakh, if borrowed at 10% for 20 years, will mean an EMI of Rs 77,200, which is roughly 60% of their combined monthly income of Rs 1.3 lakh. Either the Mehtas will have to stop saving for their child’s goals or their retirement will have to be pushed back.

    The Mehtas are not the only ones entering this minefield. Across the country, a number of people are firming up plans to buy a new house. The New Home Index of Zyfin Research, an indicator of home buying plans of 3,000 households across 11 cities, has inched up in the past 12 months (see graphic). Though it is still in pessimistic territory, buyers are less pessimistic now than they were in May 2014. “The decline in pessimism has more to do with increased optimism about future income and job security than lower borrowing costs,” says Debopam Chaudhuri, Chief Economist and VP-Research, ZyFin Research.

    Despite the surge in buyer sentiment, real estate is still not a good investment in most parts of the country. Property price are still very high and despite the recent interest rate cuts, the cost of borrowing has not come down significantly. Before they take the plunge, potential borrowers need to ask themselves 10 questions. Your answers will tell you whether you should save more for a bigger down payment, buy a smaller house, invest in a cheaper city or not buy at all.

    1. Can you afford the home loan EMI?

    It might sound a no-brainer, but many home buyers get this wrong and bite off more than they can chew. The home loan EMI should be around 40% of your net household income. But that is if you don’t have other loans. A high EMI outgo can put your house-hold budget under pressure. If the home loan EMI accounts for more than 50% of the net household income, other goals will have to be downsized or junked altogether. Don’t be fooled into thinking that the recent cut in home loan rates have made property a viable investment. It will have a marginal im-pact on the total EMI. A 25 basis point cut will reduce the EMI of a Rs 50 lakh loan for 20 years by Rs 826.

    It’s easy to get ambitious and go for a bigger loan if you are expecting generous increments in the coming years. Don’t make the mistake of leveraging on future income. While your income would certainly rise, but so would your expenses and financial commitments.

    2. Have you factored in the other costs?

    The advertised price is usually the base price of the property. The add-ons are usually kept hidden till you sit down with your cheque book. Many builders will slip in charges for facilities that you thought were free with the property. Others will keep certain charges hidden from the buyer by tucking them away in the fine print. These apart, there are other big-ticket add-ons such as the legal costs. The stamp duty and registration charges payable to the authorities add up a neat 7-8% to the overall price of the property. In all, these charges can push up the property price by 20-25%. Make sure you have factored in these additional costs.

    3. Have you considered renting?

    The high property prices means that renting is a better option in most cities. A 2-BHK house in Mumbai will cost close to Rs 1.2 crore. If a buyer puts in Rs 40 lakh as downpayment and takes a loan of Rs 80 lakh, the EMI for 20 years comes to about Rs 76,500. He also loses around Rs 23,500 in interest that the Rs 40 lakh downpayment could have potentially earned. The total cost per month comes to Rs 1 lakh while he can easily get a similar house on rent in Mumbai for about Rs 40,000-45,000 a month.

    Don’t go by hypothetical examples.

    Instead, use an online rent-or-buy calculator to find which is is better for you.

    The one developed by Bigdecisions.com is a sophisticated online tool that takes into account several things, including the cost of the house, the amount of downpayment, the rate of interest of the home loan, the expected appreciation in the house price, the rent payable for a similar accommodation in the area and even the expected hike in the rent every year.

    4. Will house value rise faster than the interest on loan?

    In the early 2000s, when home loans were available at 6-7% and property prices were galloping at 20-25%, it made eminent sense to invest in an upcoming apartment project. Now, property prices are appreciating at a slower pace. In some markets, such as Noida and Greater Noida in the NCR, prices have even come down in the past 12-18 months.

    If you are buying property as an investment with a loan, first assess whether its price will appreciate at a rate higher than what you are paying on the loan. “If you are payings 10% on the loan and the property price is expected to appreciate by 5-6%, then it is a bad buy,” says Manish Shah, Cofounder and Chief Executive of Bigdecisions.com. Shah says the expected rate of appreciation is the single biggest determinant in their rent-or-buy calculator. “It makes the biggest difference in the decisions,” he says.

    5. Will this purchase force you to postpone other major goals?

    Stagnant property prices and high EMIs are not the only problems that potential home buyers should be wary of. Their home buying plans can have serious implications on other financial goals, such as saving for their children’s education and marriage and their retirement. If the home loan EMI is too big, it will push other goals out of the financial plan. Worse, buyers like the Mehtas might have to liquidate existing investments to raise money for the downpayment. Though parents are unlikely to surrender child insurance plans and education related investments, retirement planning is easily sacrificed. “Younger people tend to think that retirement is an old age problem and defer the investment,” says Shah of Bigdecisions.com. It is easy for investors to raid their retirement savings to fund their real estate dreams. You can take loans from the Provident Fund or the NPS for buying a house. Buy a house only if the purchase will not impact other goals. Otherwise, be ready for an asset-rich but cash poor retirement. Or not having enough money to send your child to a good college.

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