eal estate in India is queuing up at the banks for a
booming, and how. You can home loan to fund their dream
see it in the billboards of house!
new real estate projects being
promoted by builders. You can see Gurgaon and NOIDA have witnessed
it in the upsurge of home loans an unprecedented surge in real
being given by banks, both estate prices, and the spillover
national and multi-national. You effect has been felt in
can see it in the smile of Faridabad, Indirapuram and
investors, who are seeing the Vaishali in Ghaziabad. Demand in
price of their property shoot up these places has grown, thanks to
in a matter of weeks. their proximity to
well-established locations in the
This is the Real Estate NCR. Even within Delhi, Mayur
revolution, the likes of which Vihar, IP Extension, Rohini are
India has never seen before. the next real estate boom towns.
In Dwarka, where the Metro
Capital values in residential and service to Connaught Place is
commercial real estate have more expected to begin by the end of
than doubled in some locations in 2005, capital values have gone up
the five metros over the past 2-3 by 50 per cent. Experts opine a
years. In Delhi, the metro, malls 6-8 per cent appreciation in the
and the Commonwealth Games are inner city and about 10-12 per
driving up land prices. So even cent appreciation in the suburbs
though the work on NH8 is taking in the future.
an inordinately long time, no one
is complaining in Gurgaon. Ask Mumbai continues to be the most
the 4000 people who invested in expensive residential real estate
Unitech Apartments over the past in the country, even though it
one year, or the scores who are has not shown the kind of upswing
in prices that the Capital has.
Property values have moved up by Investing in real estate in
approximately 30 per cent in the Kolkata would have been inviting
past two years. Demand for places disaster even 5 years ago. Well,
like Lower Parel and Byculla have no longer. With interest shown by
gone up due to their proximity to IT companies like Wipro, IBM and
south Mumbai and relatively low Satyam and the Bengal Ambuja
prices, with values surging 14-19 venture taking off, the city is
per cent last year. And the suddenly showing a new lease of
trends forecast a continued real-estate life. Places to look
demand by end users in the real at are Rajarghat, EM bypass and
estate market. Gariahat.
Bangalore is still fighting the The commercial Property market
problems of a small city turning has been fairly stable with the
into a super metro but that's not primary driver being IT/ITES
stopping the real estate boom which accounts for 70-80 per cent
down south. According to Knight of all transactions. Retail real
Frank India Research, the city estate is still nascent. Although
has a huge untapped potential for malls have mushroomed in all the
bungalows and villas, and metros, the business models needs
builders who have done just that to be looked at as the footfalls
are reaping the rewards in areas have been increasing but sales
like Whitefield, Brookefield, Old have been disappointing. Though
Madras Road and Bellary Road. The the consumer is enjoying the mall
trend here is not to invest in culture, one can't really ring
the traffic- congested town the death knell on them as yet.
centre but to move towards
townships that are likely to The question however plaguing
develop in the outskirts. every real estate industry
participant is "when will the be interest rates. If inflation
bubble burst?" The good news is is kept under check, interest
not just yet. rates will stay stable. You can
then expect a surge in demand for
Given the wild climb real estate housing and in values of
prices have been on, it is property.
inevitable that they will
plateau. So, if you have been longing for
a dream house, stop dreaming and
Almost all property experts agree buy one now. Believe us, there's
that it does not mean they will only one way your investment can
slide. Prices will climb, but the go, and it's up.
rise will be far more sedate in
the future. The key to this will
About the Author:
Mrs. Deepali Srivastav,Business Head,99acres.com
For buying, selling or renting Property in India log on to http://www.99acres.com
Source: www.isnare.com
