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Massive real estate boom in AP
Posted on Nov 22, 2014

Andhra Pradesh is witnessing a real estate boom post bifurcation, with property registrations doubling in the 13 districts during the last few months as compared to the same period last year. Real estate speculation in the hope of capitalizing on the demand for land and frenzy over the construction of the new capital are said to have contributed to the massive spurt in land transactions.

Expectedly, Krishna and Guntur districts topped the list. According to sources, the 13 districts recorded a revenue of Rs 1,469.95 crore through land registrations between June-October 2014 as compared to Rs 624.83 crore during the same period last year. Krishna district, which was initially tipped to account for the major portion of the new capital region, recorded the highest revenue from land registrations post bifurcation. As against 44,281 registrations between June-October last year, the district reported 91,215 transactions worth Rs 236.5 crore this year.

However, when it comes to the number of transactions, Guntur topped the list. The district, which entered the race after the state government identified Tulluru, Mangalagiri, Tadepalli and Guntur mandals as part of the proposed capital region, reported 99,310 land registrations with a revenue of Rs 202.59 crore during the June-October 2014 period.

“Our officials in the districts are complaining that they need more staff to provide quick service to realtors. In Krishna and Guntur districts, there is heavy rush and people are being told to come back two to three days later to get their document registered. We are planning to send more computers, scanners and give orders to appoint more outsourcing personnel to meet the demand,” explained senior officials in the AP government.

The sudden spurt in land registrations is attributed to the construction of the new capital city in Krishna and Guntur, as realtors in all 13 districts have shifted their focus to these two districts. They have opened their offices in either Vijayawada or Guntur and appointed local people as agents to get information about land for sale.

“Land on the outskirts of Guntur and Vijayawada has recorded the highest price hike during the last one year. For example, land near Vijayawada, which was available for Rs 10 lakh per acre a year ago, is now being quoted at Rs 6 to 10 crore. Land around Guntur city, which was purchased for Rs 10 lakh an acre just one year ago, is being sold for Rs 5 to 6 crore,” said a realtor, who has shifted base from Visakhapatnam to Guntur.

The state governments decision to go for land pooling has jacked up the prices of even those land that will not fall in the capital region. Nuzividu, which is almost 50 km away from the proposed capital region, is also witnessing a spurt in real estate prices. According to sources, the prices of land between Gannavaram, Hanuman Junction and Nuzividu have shot up astronomically during the last six months. “We bought about 500 square yards of land in Nuzividu for Rs 15 lakh at the rate of Rs 3,000 per square yard six months ago. Now, we are seeing people offering Rs 50 lakh for the same 500 sq yards,” said a Nuzividu resident.

A similar boom is being reported in Eluru, Tadepalliguem, Bhimavaram, Machilipatnam, Tenali, Bapatla, Narsaraopet, Chilakaluripet and Sattenapalli towns, all of which, like Nuzividu, are far away from the proposed capital region. “Vijayawada and Guntur are experiencing a rapid real estate boom as was witnessed in Hyderabad about a decade ago. And like it happened there, this region too might witness a bust, but at present, the land prices have shot up beyond the reach of the middle class,” said an official.

High realty prices push down demand, home loan growth
Posted on Nov 22, 2014
At a time when most asset classes, including equities and debt, are on an upswing, the slump in residential demand on account of high real estate prices is now evident in the demand for housing loans from banks. A look at the monthly data released by the Reserve Bank of India shows that in the six-month period between April and September 2014, the ...

Infinity Group to launch 1.25 crore sq ft of affordable housing
Posted on Nov 22, 2014
Kolkata-based Infinity Group known for its iconic green IT office developments is preparing to make its foray into affordable housing with an ambitious plan to launch 1.25 crore sq ft of affordable housing.In an exclusive interview to Realty Plus, Ravinder Chamaria, Chairman, Infinity Group told that the company will launch its first flagship proje ...

Hike in guidance value may hit flat buyers
Posted on Nov 22, 2014
BangaloreThe recent revision of guidance values will increase apartment prices and add to the burden of people who are yet to register properties bought years ago, experts said.Buyers might have to shell out 10%-15% more for buying apartments in newly launched projects as developers will be looking to pass on the hike in guidance value to customers ...

Buying a home next to office is value for money in Hyderabad
Posted on Nov 22, 2014
What is a ‘value for money home in Hyderabad? For most buyers, the ‘right home is one that is at a close distance to their office. In other metros, high property prices within the city force buyers to look for homes in the periphery. In Hyderabad, spacious and affordable properties are easily available within the city and are at a walkable distan ...

Adyar gains back buyers’ preference
Posted on Nov 22, 2014
Re-development and cleaner environs has brought back home buyers to Adyar, which notched up the sixth spot in the Magicbricks list of top 10 preferred localities for sale in the Jul-Sep 2014 quarter.One of the most premium residential pockets of Chennai, Adyar had lost its sheen as a residential address largely due to unavailability of new projects ...

What are ‘value for money’ homes for GenY in Bangalore
Posted on Nov 22, 2014
Imagine paying an EMI for your ‘own home equivalent to the amount of rent you have paid? Such is the story of maximum home buyers in Bangalore. “They see value in saving their rent and owning a property,” says Nadeem Pasha, head marketing sales, Clickhomez.In Bangalore, staying on rent is expensive. You have to pay an advance deposit of 10 months ...

Where to look for penthouses in Pune?
Posted on Nov 22, 2014
Seven new projects in Pune, handing possession, are offering Penthouses in Kharadi, Wakad, Moshi and Baner, while seven others are expected to be delivered in early 2015, as per the data available with Magicbricks. Most of these projects are priced Rs 1 crore and above. Along with new projects, supply in the secondary market is also available in th ...

Kolkata makes a move towards apartments
Posted on Nov 22, 2014
When it comes to buying a home, across India, apartments are known to be the most preferred property type. Kolkata property buyers also prefer apartments over the standalones available in large numbers in Jadavpur locality.“There is a considerable supply of standalone buildings in Jadavpur, but right from enquiries to the final transaction, the bu ...

Realty Players Expect BJP Govt To Boost Property Market In Mumbai & Gurgaon
Posted on Nov 22, 2014
With the BJP taking charge in Maharashtra and Haryana, the real estate industry is expecting revival of the realty market in these states. According to industry players, the revival in the markets will be driven by a rise in the investment inflow in real estate projects through public private partnership (PPP) model."Mumbai and Gurgaon have the lio ...

Realty market cools as buyers wait for positive signs
Posted on Nov 22, 2014
The Bengaluru real estate market has always been buoyant, aggressive and resilient on account of cosmopolitan social infrastructure, supported by physical infrastructure and high absorption rate of apartments and villas. However, buyers are adopting a cautious wait and watch approach since April 2014, on account of supply and demand bottlenecks, an ...

South Pune properties offer gorgeous view, space
Posted on Nov 22, 2014
While localities of Central Pune are known to offer premium properties, localities of South Pune such as Undri, Kondhwa, Katraj and areas along the Sinhagad Road and NIBM Road are also coming up with apartments, houses and villa projects available with a price tag of Rs 1 crore and above. Currently, the city is facing an over-supply of properties i ...

Fixed rate loan is back
Posted on Nov 19, 2014
After a long time, the fixed rate home loan is back in the market. Over the last few years, the interest rates on housing loans have been gradually increasing. Even though they stabilized over the last couple of years, there were not many banks offering a fixed-interest rate loan. In case of a fixed-rate loan, the rate of interest is decided before ...

Bhiwadi: A rising star in NCR real estate
Posted on Nov 19, 2014
New Delhi: Bhiwadi is located is the Alwar district of Rajasthan, and is an emerging industrial destination in the NCR region. Located at just 40 km from Gurgaon, Bhiwadi is witnessing a shift from its erstwhile image as a mere industrial area to destination with full-fledged real estate viability. Being a part of the Delhi-Mumbai Industrial Corrid ...

Now, exchange old apartments for new ones
Posted on Nov 19, 2014
CHENNAI: A city-based developer has come up with an innovative marketing tool to beat the real estate slump. To prospective customers, the developer, Ceebros, has given the option of exchanging their old houses, apartments or residential plots in and around Chennai with new apartments on Montieth Road in the heart of the city. Real estate consultan ...

Credit demand rises for commercial real estate, but eases for companies
Posted on Nov 19, 2014
Loans to commercial real estate grew 20.26% in September over a year ago, higher than the 8.64% growth in non-food creditMumbai: Bank loans to the commercial real estate sector grew strongly over the past one-and-a-half years, recently published figures showed, as developers continued to borrow in a bid to stay afloat amid a shrinking demand for of ...

Increased supply of luxury homes in Ahmedabad
Posted on Nov 19, 2014
If you are searching for a luxury home in Ahmedabad, the city has a new stock of high-end properties to offer. While the city witnessed demand for luxury properties rendering high-end amenities, developers of the city responded to this demand by increasing the supply.Areas such as Prahlad Nagar, Bopal and Satellite recorded high supply of propertie ...

Kompally: An emerging real estate hub
Posted on Nov 08, 2014
HyderabadKompally is located towards the western part of the city. It is 24 km from Hitec city and 15 km from Secunderabad. The connectivity due to the highway and Outer Ring Road (ORR) has escalated the industrial and residential development here. The area is also connected by buses and MMTS service.Many reputed colleges and schools have been esta ...

Where to look for rented property in Bangalore
Posted on Nov 08, 2014
Looking for an apartment to rent in Bangalore? Try HSR Layout, Koramangala and Indiranagar. According to Magicbricks data, these localities offer maximum options for renting and are the most preferred. Here is a quick look at what these localities offer.HSR LayoutThe residential property mix available here includes multi-storey apartments, resident ...

Better to rent a flat than buy one in Mumbai
Posted on Nov 08, 2014
Skyrocketing prices have forced people in the city and the extended suburbs to stay on rent instead of buying houses.dna on Thursday reported that Liasas Foras, the Mumbai-based real estate firm, in its quarterly report said that 52,000 2BHKs in the city and 1.47lakh 2BHKs in the Mumbai Metropolitan region are lying unsold.Why are people going for ...

Recent Articles
Massive real estate boom in AP
High realty prices push down demand, home loan growth
Infinity Group to launch 1.25 crore sq ft of affordable housing
Hike in guidance value may hit flat buyers
Buying a home next to office is value for money in Hyderabad
Adyar gains back buyers’ preference
What are ‘value for money’ homes for GenY in Bangalore
Where to look for penthouses in Pune?
Kolkata makes a move towards apartments
Realty Players Expect BJP Govt To Boost Property Market In Mumbai & Gurgaon

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