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Bengaluru: Top investment bets in 2017

Bengaluru: Top investment bets in 2017

At a time when property experts are anticipating good times ahead in Indian real estate, Bengaluru property market will remain the top investment choice in 2017.

Bengaluru has recently been ranked number one based on investment prospects in a report prepared jointly by Urban Land Institute (ULI), along with PricewaterhouseCoopers (PwC). The report stated a strong shift towards two emerging Indian cities (Bengaluru and Mumbai) in the entire Asia Pacific region. In 2016, Bengaluru ranked 12th in ‘Historical Investment Prospect Rankings report’*.

Property analysts also predict that Bengaluru – the IT capital of India – is proving to be a bright destination for real estate investors. It is positive sign for Indian real estate that Bengaluru has emerged first in investment and development parameters for 2017. This is a big story for realty developers and end-users too.

According to R Rohit of brokerage firm RR Real Estates, “All thanks to booming civic infrastructures, new residential projects launch, establishment of Information Technology Services at large scale, BPO sectors that have been driving the Bengaluru residential as well as commercial property market for long”.

“We are very hopeful and happy that Bengaluru property market is gaining more prominence at the onset of New Year. This positive data will attract more and more investors as well as new home buyers to the market,” Rohit says.

Roundup 2016 for Bengaluru property market:

In a report released by real estate consultancy firm JLL India indicated that retail and commercial space are buzzing with many real estate activities while residential space is seeing less buyers. Bengaluru and Pune realty markets have emerged as new realty hotspot which will see price appreciation over time.

According to the report – retail spaces, especially malls are experiencing healthy rate of takeoff and occupancy, just because of favourable policies that have boosted the market after three years of drought. Policies such as 100 per cent FDI in single brand retail, relaxation for multi brand retailers and revised Model Shop and Establishment Act (that allows shops to remain open 24X7) have attributed for the rise in space offtake. The demand for retail space has picked up really well but there is a shortage from supply side. Market stature is experiencing robust demand but not many new malls are being built.

The real estate market of Bengaluru has been always the star performer in terms of highest counts residential units as well as office space absorption. In April-June quarter too, the city performed exceedingly well. About 48 per cent of the total units is accounted for Bengaluru, followed by Pune 21 per cent and Mumbai 16 per cent in this current quarter.

According to the report by Colliers International, India, The high volume of new launches during the second quarter was primarily driven by top six metro cities – Bengaluru, Pune, Mumbai, Chennai, Gurugram  and Noida.

According to the latest report released by real estate consultancy firm JLL India also, Bengaluru and Pune would be the two markets which would see a favourable price rise over a period of time. Bengaluru’s performance is noticeable as new launches have almost doubled from first quarter at nearly 11,500 units at the end of April-June quarter.

Bengaluru Metro Phase II to boost realty

Taking another step towards hassle free connectivity within Bengaluru city, Bangalore Metro Rail Corporation (BMRC) is working on expanding the proposed Namma metro network through phase II. The new phase of metro is likely to be completed by December 2020. Ahead of this, the real estate fraternity looking forward and say investment in property along the route will pay rich dividends. The demand for both residential and commercial property in the region is likely to increase.

*As quoted in http://www.pwc.com/sg/en/publications/assets/aprealestemerging_2017.pdf

Faridabad-Noida-Ghaziabad Eway driving realty

Faridabad-Noida-Ghaziabad Eway driving realty

Faridabad-Noida-Ghaziabad Expressway or FNG Expressway is making new property destinations in the NCR.  This expressway will pass through Noida, Ghaziabad, Faridabad and Gurugram to boost connectivity between these prominent cities. Thus, the localities along this Eway have emerged as property hotspot.

It is smart move that will offer safe and fast transport

Experts who are tracking this property market believe that the property aspects along the expressway corridors are promising. FNG expressway will offer direct connectivity between Noida and Faridabad. Once this long stretch is operational, people can travel between this stretch within half an hour.

FNG expressway is around 56 kilometer long stretch with 19-km stretch falls in Noida, 8 kilometers in Ghaziabad and the remaining 28 kilometers in Faridabad. Once this entire stretch is operational, it will alter the urban infrastructure of the region. This National Highway Project will not only accelerate the sale of land parcels in these areas, but also bring chance for mid-income class to buy budget houses in NCR. It is expected that this Eway  will be stretched up to Sohna Road Gurgaon that will further boost property market around Sohna Road.

Real estate developers are hoping big property market to emerge

Real estate developers of the NCR are very much optimistic about this locality, even prior to its completion.

According to Harmit Chawla, MD of real estate firm HCorp Realty Pvt. Ltd., “The national highway project is to benefit major chunk of people and will be an alternative route for commuters coming from from Meerut, Ghaziabad, Noida, Greater Noida, Gurugram and Hapur who wish to go to Faridabad and Agra. The expressway will cut travel time from two hours to 40 minutes and smoothen traffic pressure on the areas of NH-24, NH-58 and NH-2 that fall in the Delhi region. At present, people coming from Ghaziabad, Meerut and Hapur take these roads to reach Faridabad and Agra”.

Easy connectivity wins

Presently Ghaziabad, Noida and Greater Noida are accessible to Faridabad through NH-24 and NH-2 and these are much crowded roads of NCR. Experts say that, FNG expressway will ease connectivity to major hosing segments of NCR regions including Ghaziabad, Noida, Greater Noida, Faridabad and Gurugram and will transform the locality which leads high demand for residential property in near future. People can travel easily for work. The expressway will stimulate the growth of these locality through good network connectivity and will emerge as a hot property destinations.

Noida to digitise all property records

Noida to digitise all property records

The Noida Authority digitised 16,300 institutional, industrial and commercial properties. The digital services for these properties will be available from January 2, 2017 at www.noidaauthorityonline.com.

The Noida Authority digitised 16,300 institutional, industrial and commercial properties. According to officials, while the first phase of the project was soft-launched, digital services for these properties will be available from January 2, 2017.

With the digitisation of properties, a host of services, including permissions for mortgage, mutation of land, transfer of memorandum, completion and functional certificates, lease rent deposit, water bill payment, etc., will be a smooth affair for allottees in Noida, a senior official said.

“Within the next five months, we plan to digitise all Noida’s properties. The aim is to achieve minimum interface with the allottees but provide them with maximum transparency besides doing away with red tape,” said Deepak Agarwal, Noida Authority CEO.

“The services can be accessed from Noida’s website www.noidaauthorityonline.com. Each allottee will be provided with a unique user ID and password,” Agarwal explained.

“With the industrial application going online, investors and entrepreneurs will be able to view all available land for industries. While payments will be done online, the portal will also allow electronic communication. In future, GIS-based plot search and visibility will be added,” he explained.

“We are also working on Online Building Map Approval Process System (OBMAPS to speed up the process of building plan compliance check, in accordance with building by-laws,” Agarwal said.

Source: TOI