Showing posts with label Mumbai. Show all posts
Showing posts with label Mumbai. Show all posts

Monday, August 10, 2020

Think Once Should Buy or Lease a House is Better In India?

Buying or leasing a home depends on various factors. As real estate prices rise and fall in India, it becomes difficult for home buyers to decide whether to buy or rent a property. It is necessary to do a thorough research of the city's property trends and decide whether to buy or rent a property. The decision also depends on the financial status of the person.

A wrong decision will lead to huge debt or illiterate assets. Many factors will help you decide whether to buy or rent a house in India:

High property prices: Property rates are skyrocketing in cities like Mumbai, Delhi, Chennai, Ahmedabad. So it becomes difficult for buyers to buy a house. Renting a house is a wise decision. Due to the rise in property prices, Mumbai is witnessing high demand for rental properties. The rental rate in Ahmedabad is quite stable, so renting is better than buying a property.

Low or stable property prices: Cities like Pune and Hyderabad have stable property prices, so buying a house in these cities is convenient. These are neutral cities for property investment. You can buy or rent property as per your convenience. Although Bangalore is a metropolitan city, properties prices are significantly lower than other Tier I cities. Therefore it is advisable to invest in property. In fact rental rates in Bangalore are very high compared to property prices. Even Hyderabad has cheap property prices and remains an ideal property to purchase destination.

Financial condition: Buying or leasing a property also depends on the financial condition of a person. If a person is financially strong, he can buy property even if the prices are high. Investors in cities like Chennai, Delhi, Gurgaon, Faridabad, Pune can take decisions based on their financial condition.

Duration of your stay: One of the factors to consider when buying or renting a property is how long you are going to stay in that place. If you are transferred to a particular place for a job or educational purpose then it is advisable to plan and decide the duration of your stay. If you are living for a short period of time then you rent a property instead of buying and paying a home loan. If you are looking for a long term plan then you can buy property.

Inactivity: Since large amounts of capital are invested, disposing of the house is difficult. Invest in an area that has strong infrastructure facilities such as connectivity, schools, parks, etc. Rather, it is better to rent a house, being stuck with an illegal property that is not easy to dispose of. Therefore it can be concluded that, if property prices are high, it makes sense to rent instead of buying property. Buying or renting a property depends on the person's choice and the above factors.

Wednesday, April 22, 2020

How to disinfect furniture during the outbreak of COVID-19


According to the latest studies corona virus can remain on metal surfaces such as door handles and wood for 4 days to 5 days. Although experts are of the opinion that it does not call for nervousness, proper cleaning is required to remove various types of germs.

Proper use of thorough hand washing, masks and hand sanitizers ensures personal safety. However, if you are wondering what you can do to keep your home furniture free from viruses, here are some tips that may help.

Start with vacuum-cleaning upholstered surfaces. Do not take the cushions out of your cover as they may shrink in the wash and do not sit on the pillow. To disinfect them, use a spray-on, homemade disinfectant that includes a 60 to 90 percent rub - isopropyl - 2-to-1 ratio from alcohol to water. You can also add 7 grams of bleaching powder to 1 liter of water to make it an effective disinfectant. Spray your disinfectant solution on all surfaces of your mattress, including the top, bottom and sides.

Hold the bottle 6 to 8 inches from the furniture, spray it until it is covered with a light mist. For metal surfaces such as door handles, security locks, keys, etc. 70% alcohol can be used to wipe surfaces where the use of bleach is not appropriate. Do not wipe the disinfectant solution from the surface, let it dry by itself

Wipe the tabletop, end table, wooden arms and other hard surfaces of your furniture with a cloth to soak them in your homemade disinfected clothes. The surface should remain wet for at least 1 minute to disinfect the piece completely. Trick should be done once or twice a day to remove germs, but if someone is ill in your house, you may want to wipe the surfaces frequently.

Furniture with multiple coats of finish can be damaged by repeated use of harsh detergents or alcohol-based disinfectants. Therefore make sure that you will not back down from disinfecting such sensitive surfaces.

No studies have proven that sunlight can kill corona virus, however, sunshine and clean air are miracles of work, and ultraviolet rays kill a lot of other bacteria and germs. Keep your movable furniture in the sun for a few hours to make them feel fresh and get rid of any odor. Make sure that you do not keep the wooden furniture in the sun for a long time to avoid any fading or discouragement.

SUGANTA REALTY SERVICES LLP

Tuesday, April 21, 2020

How Real Estate Affected by COVID-19


COVID-19 affects real estate in the market 

The corona virus scare is infecting people worldwide and affecting the real estate market, as it is spreading rapidly at lightning speed. According to the economist the rate of the economy will decrease as most people have reduced or reduced their income to overcome the current global disease.

Due to the global disease affecting the world, many people are trying to keep away the social disturbances and save their belongings and savings which can come to the rescue in the event of being affected. As per the security measures, the government has implemented mandatory lock-downs, which has led to a slowdown in the economy and a huge gap in the exchange of funds.

Impact on Real Estate: The current situation will affect the economy as it will have serious long-term consequences that can last for months, years or decades and have targeted the market and economy. Currently the real estate is still stalled due to the lockdown as sales and marketing efforts have been halted, with no interaction between buyer and seller. Both customers are thinking twice before trying to exchange money. Even if a buyer does not decide to buy the property or a seller is not selling his property or the investor decides not to invest the money of the property thinking what will happen next in the market, it will hurt the economy. And real estate will decline. As people fear what will happen next due to global illness, there will be less demand from buyers, this will freeze finances and this will have a huge impact in the real estate industry. Construction of projects has been delayed due to travel restrictions. Precautionary measures have also led to a decrease in construction activities.

Real estate mainly relies on project listings, as listings bring in sellers and buyers, it will make money, as long as listings occur, there will be buyers who can put themselves at risk for investment. Since no new inventory is being created on new projects due to the lockdown, there is less advertising on the assets being exposed in the market. Due to the impact of Corona, the global economy has declined and has already impacted the market and businesses in the country which have affected the decline in property prices. The demand for housing is going to be affected as people are trying to save their cash due to salary cuts and may face it if the situation deteriorates, as hiring in the area has been completely halted.

Predictions

According to the survey published by Economic Times, India Bar, on 2 April 2020, there is a huge impact on Indian real estate as it stands still due to the nationwide lock down. Housing sales have been reduced by 25 to 35% and office locations by 13 to 30%. In 2019 residential sales in the top 7 cities (Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Pune and Hyderabad) are about 2.61 lakh units, which can fall from 1.70 lakh to 1.96 lakh units. Similarly, new launches can see a 25 to 30% drop according to ANAROCK Property Consultant. About 4.66 lakh units in the top 7 cities were earlier scheduled for completion in 2020, there may be a risk of delay. The nationwide lockdown has completely halted construction activity, project delays and may last several months until the epidemic arrives and this will cause demand to fall in supply.

Talking about non-residential areas, corporate businessmen are delaying their leasing decisions as many multinationals and businesses are testing the Work from Home option, which, if proven successful, will allow it to be leased in the future.

One positive thing to note is that this is the best time for investors who want to invest in real estate during lock down as it will be a passive income with low investment and high returns, attractive prices for them, Affects sellers financially. Sell ​​your property, good financing options as home loan rates are reduced and use your time in search of better properties.

To conclude how long the corona virus will last, no one knows, if it goes away in two months things may not fully recover or return to normalcy. The spread of the corona virus depends on the weather and how long it lasts, the flu season and it does not like the warm climate that disappears. As it has become a major epidemic and is spreading soon. In the end how long the corona virus will affect the market or economy depends on us and how we are ready to fight against it.

Friday, April 3, 2020

COVID-19 Impact: Extends the full timeframe of MahaRERA projects by 3 months


Mumbai: Maharashtra Real Estate Regulatory Authority (MahaRERA) has extended the validity of registration of projects for which completion date, revised completion date and extended completion date is expiring on or after March 15, 2020.

With this, realty developers will get a three-month extension to complete their projects. Developers are asking for time to complete the project and the exemption from penalty fees can be extended for up to one year.

The authority has extended the date after considering the government declared Covid-19 pandemic, lockdown, its impact on material procurement and construction stagnation.

It has also extended the deadline for all statutory compliance as per the Real Estate (Regulation and Development) Act, 2016 which were in force from March, April and May to June 30, 2020.

Since mid-March, the Maharashtra government has announced a controlled lockdown as a precaution in a way that a partial workforce has been able to participate in work and construction sites in the state.

From 24 March, a complete lockdown was declared for 21 days across the country, allowing only the operation of essential services. In view of these partial lockdowns and recently completed lockdowns, construction work has been affected in MahaRERA registered projects.

“Due to the aforesaid lockdown, the supply chain to obtain construction material was disrupted and the labor force moved back to their home states. Due to these circumstances, real estate projects across Maharashtra will take some time to resume work,” the authority said in a statement.

SuGanta Realty Services llp


Monday, December 16, 2019

Why are 2 BHK apartments ideal for investment? 2 BHK - Best Real Estate Investment


The Indian residential real estate market has grown at a rapid pace over the past few years. With revised government policies, today every person can afford a household expenditure whether it is single or family. However, when it comes to acquiring a property, most buyers get confused about whether to invest in a 1 BHK apartment or a 2 BHK.


A 1 BHK is priced significantly higher than a 2 BHK, but if we evaluate market trends and other factors, a 2 BHK is more pocket-friendly and cost-effective. So, have a look at some of the benefits that a home buyer can enjoy while buying or investing in a 2 BHK flat:

Cost-effectiveness: If you go by market value, a 1 BHK apartment costs a lot less, but doing a little bit of market research will help you understand that buying a 2 BHK flat will be more cost effective than a 1 BHK.

For example, an A1 BHK apartment in Noida Expressway is somewhere between Rs 22 to 25 lakhs, while a 2 BHK cost starts at Rs 30 lakhs. So, just by applying some money, you can get more space, room space and a better unit for your family. The price chart is similar in cities like Hyderabad, Bangalore and Chennai.

However, if you take a little more out of your pocket and move to other cities like Gurgaon or Mumbai, you can get a luxury 2 BHK unit with unique features. Because of this, many potential property buyers wait and save enough money to save their money.

Market Availability: With the implementation of new policies such as affordable housing in the real estate market, a mid-segment working professional can think of buying a 2 BHK apartment at an affordable price. Apart from this, developers are also launching 2 BHK units as the demand is more than 1 BHK in the market

Spacious: A 2 BHK is roomier than a single BHK apartment. You have larger rooms and more outdoor space. Many times, many developers combine a child's room or a study room to give the 2 BHK unit a big boost. It becomes easy for you to adjust the furniture and plan the home decoration items accordingly.

Future plans: Most individuals want to buy a home when they settle down with their family or plan to have one. At this time, buying 2 BHK is always measured as a decent alternative as it is in the future. As your family grows, you need a bigger place to live. A solo BHK is good for a single person who has just started his professional career.

Returns and Profit: 2 BHK apartments are ideal investment options considered by medium-sized families or nuclear families. Philosophically, for a long-term objective, investing in a 2 BHK property is definitely the best thing you can do to get a better return on investment (ROI)



2 BHK can be easily rented or sold due to its affordability. Therefore, with these benefits, it is always better to buy a 2 BHK apartment from SuGanta Realty Services llp.