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Invest in Tirupati realty to earn good returns
Posted on May 29, 2015

Tirupati, situated at the foot of Indias most powerful and rich God, Sri Venkateshwara, aka Balajis abode, can earn you a rich income! How? Unlike in Tirumala where one needs to spend crores of rupees to own a luxury guest house, in Tirupati you could own a 2 or 3BHK unit at about Rs 35 lakh or own a luxury apartment which can go up to approximately Rs 1 crore and above. Despite of a lull in transactions a couple of years back, things seem to be looking up in 2015.  

The price per sq ft in Tirupati has increased remarkably in the last six months. In November 2014, the average price per sq ft near Chittoor City was about Rs 3,100. By February 2015, the price per sq ft crossed Rs 7,200. With an increase in demand in April 2015 the price range is around Rs 10,000 to Rs 20,000 per sq ft. Gated communities is the most supplied property option in the area.

The most inexpensive property one can own today are plots in the neighbourhood of Ramanujapalli, in Tirupati district where Panchayat land is available at the rate of about Rs 1,000-3,000 per sq ft.

Lands abutting villages on main roads along Papanaidupet, Gajulamandyam, and Yelamandyam around Renigunta Airport near Tirupati are valued at about Rs 2-5 crore per half acre.

Is the proximity to one of the most popular pilgrimage centres the only reason for this sudden boost.? Local experts give other reasons as well for this steep price hike.

ďThere are many areas which did not perform well, especially around Kadapa district and even Chittor in 2013-14. But what has given boost to the property market is the general perception of the economy looking upbeat and the announcement of IIT, IISER and a Central University for Tirupati,Ē says Vanit Kumar, CEO, Websqft a leading property consultant.

The area is also well developed and 'connected' in terms of NRI connections.

"The Chittoor district, of which Tirupati is a part of, has many factories in farm & food processing, textile and metallurgical sectors. It also has a lot of potential for small and medium-scale industries. Unlike many other pilgrimage centers, Tirupati has its own airport. All these factors have helped keep NRI interest in the locality,Ē says Seshasai Rangan, a professor at the local Sri Padmavathi Mahila University.

There is a Chittoor NRI community that is very active and has contributed to the development of the area.

This has given a boost to the rental market in the area. Rental options in the area are rarely annual. Houses are rented out to tourists and pilgrims for a short stay at about Rs 4,000-6,000 for a week.

Clearly, there is profit at the foot of the lord of the seven hills!

Kanchana Dwarakanath is an integrated communications professional with diverse experience in journalism & Marketing Communications. Her current focus areas include real estate, infrastructure, urban management and the skill development market.

IDBI to launch e-huts across India
Posted on May 29, 2015
The bank has also been extending support to medium and small enterprises in the regionIDBI Bank has decided to roll out e-huts to connect with the rural populace, a senior bank official said on Tuesday. "We will be launching e-huts across the country. It's a conceptthat is widely accepted in the West, but in India, it's yet to pick up," IDBI's depu ...

Godrej Properties may raise Rs 200 cr
Posted on May 29, 2015
NEW DELHI/MUMBAI :Godrej Properties may raise around Rs 200 crore through issue of shares to maintain its promoters' stake in the company below statutory threshold of 75% after issuing shares to Godrej Industries.Godrej Properties has already announced that it has approved issuing 1.67 crore shares of the company to Godrej Industries in lieu of the ...

Over 500 projects near Mumbai by end of 2015
Posted on May 29, 2015
Beyond Thane region is today flooded with a range of new residential projects offering buyers a wide gamut of options to choose from. As per Magicbricks data, there are currently more than 500 projects in Beyond Thane region which are available on sale. What make this news more interesting is that majority of the projects available in the sub-regio ...

New gated project in the heart of Hyderabad
Posted on May 29, 2015
Hyderabad-based real estate developer Shanta Sriram Constructions has announced Galaxy, a residential project with a combination of three BHKs and studio apartments. It is coming up in the heart of the city- on Road 13, Banjara Hills in Hyderabad.In all, there would be 66 luxury three-BHKs and 32 studio apartments in a gated community with modern a ...

CHD Developers to invest Rs 350 crore in new project in Gurgaon
Posted on May 27, 2015
NEW DELHI: Realty firm CHD Developers Ltd today said it will invest about Rs 350 crore over the next four years to develop a housing project in Gurgaon.In a filing to the BSE, Delhi-based developer said that the company will come up with a new project in Sohna, Gurgaon."The land is spread over an area of 10.025 acres with a total saleable area of a ...

Home prices hit roof, but affordability near its best: HDFC
Posted on May 27, 2015
NEW DELHI: Housing prices have risen to record high levels, but increase in disposable income of the homebuyers has made the purchase of a house most affordable in over a decade, according to mortgage giant HDFC Ltd.The average property value of housing units has appreciated to an all-time high of over Rs 52 lakh, while the annual income of the hom ...

Essel Finance to deploy Rs600 crore for residential projects
Posted on May 26, 2015
Bengaluru: Essel Finance Advisors and Managers Llp, the private equity (PE) arm of Subhash Chandras Essel Group, is planning to extend Rs.600 crore debt finance to property developers as part of its real estate focus, a top executive said.Essel Finance Advisors, which has already invested around Rs.250 crore in Mumbai, Bengaluru, Pune and the Nati ...

Eden Group Launches New Residential Project - Eden Tolly Signature Plus
Posted on May 26, 2015
Based in Kolkata, Eden Group is a real estate company, committed to delivering great value to their customers in Kolkata. Recently, they have launched their new residential project, Eden Tolly Signature Plus at slashed down prices.This press release was orginally distributed by ReleaseWireKolkata, West Bengal -- (ReleaseWire) -- 05/15/2015 -- Based ...

Nitesh Estates Acquires Pune Shopping Mall for Rs 250 crore
Posted on May 19, 2015
Bangalore based premium property developer; Nitesh Estates announced its entry into the Pune market. With the acquisition of 1 million sq. ft., the Koregaon Park Plaza Centre an A grade shopping mall, spread over 6 acres in prime upscale locale of Koregaon in Pune, Nitesh Estates has achieved yet another milestone in its decade old presence in Indi ...

Property prices rise 10% CAGR in 4 years
Posted on May 19, 2015
According to Reserve Bank of Indias (RBI) All-India Residential Property Price Index, in the past 19 quarters, the housing market has witnessed an upward trend in prices. It was released on 7 May along with the survey, Recent Trends in Residential Property Prices in India: An exploration using housing loan data. The realty index showed a compounde ...

CHD launches CHD Resortico
Posted on May 15, 2015
CHD, one of the leading Real Estate developer in Northern India today announced the launch date of its forthcoming project ďCHD ResorticoĒ on 15th May, 2015. Strategically located with just 10 minutes drive from the thriving city of Gurgaon, CHD Resortico features reasonably priced Smart One Bedroom Serviced Apartments, for the young and agile. The ...

Ishanya: Mall for Home Interiors & Design
Posted on May 15, 2015
Ishanya - India's 1st & largest revolutionary concept destination mall for Home Interiors & design, is an incredible fusion of home, fine dining, entertainment, events, art and culture. Spread over an impressive 6,00,000 sq. ft, Ishanya is truly a work of art in terms of its architecture & structure. With an assortment of over 50 internationally es ...

Prahladnagar: A commercial and residential hub
Posted on May 15, 2015
AhmedabadAhmedabad, traditionally well-known as the educational hub in the country, is now emerging as an ultra-progressive commercial destination in the state.As a result, the real estate of Ahmedabad is certainly on an upswing with the growth of industrial activity in and around the city.Not only the commercial but the residential realty market i ...

Housing price inflation declines to 4-year low: RBI
Posted on May 15, 2015
Housing price inflation has slipped to nearly four-year low to below 4 per cent, a survey by the Reserve Bank said on May 7. It said that housing prices rose by 61 per cent during the last four and half years, with Jaipur recording the highest growth of 78 per cent. These findings are based on a RBI survey covering transaction level data on housing ...

Boom in commercial realty
Posted on May 15, 2015
The commercial segment holds scope for both capital appreciation and regular income through monthly rentals.With a stable central government, outlook for the real estate sector looks positive once again, and has resulted in a renewed sense of confidence. However, escalating residential property prices, low appreciation levels and increasing risk at ...

Home loans business boomed in FY15
Posted on May 15, 2015
CHENNAI: A revival in economic sentiment, rising income levels of borrowers and cooling property prices have resulted in mortgage lenders reporting double-digit growth in disbursements. Take HDFC, India's largest mortgage player. The lender has witnessed 16% growth in individual loan disbursements last fiscal, with the average home loan ticket size ...

Is buying a property in Bhiwadi a good idea?
Posted on May 15, 2015
Though many buyers interest in Bhiwadi comes from Delhi NCR, we cannot say that the entire national capital and its suburban areas are convinced in investing in Bhiwadi. There are many reasons to why making an investment in Bhiwadi seems a good idea.Click here to know what housing options are available in Bhiwadi?The region seems to be capitalisin ...

Mumbaikars prefer Parelís residential properties
Posted on May 15, 2015
MumbaiAny housing locality close to south Mumbai, has become a raging choice of residence for Mumbaikars. Parel is no exception. However, Parel stands out from the other residential areas for its interesting mix of pocket-friendly rental accommodations on offer, new housing options, amenities being provided, good connectivity and an established soc ...

Right time to buy premium houses in Hyderabad is now
Posted on May 14, 2015
Hyderabad is touted to be one city that offers luxury housing within an affordable range. Add to that a healthy stock of premium properties in the market, and it seems a perfect setting to finalise your dream home in the city.Have you been looking for a home in the premium segment in Hyderabad? Well, this might just be a good time to end your wait ...

Recent Articles
Invest in Tirupati realty to earn good returns
IDBI to launch e-huts across India
Godrej Properties may raise Rs 200 cr
Over 500 projects near Mumbai by end of 2015
New gated project in the heart of Hyderabad
CHD Developers to invest Rs 350 crore in new project in Gurgaon
Home prices hit roof, but affordability near its best: HDFC
Essel Finance to deploy Rs600 crore for residential projects
Eden Group Launches New Residential Project - Eden Tolly Signature Plus
Nitesh Estates Acquires Pune Shopping Mall for Rs 250 crore

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