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Rent vs Buy : Should you buy a new home or just keep renting in 2017? [Infographic]

The common question that the first time home buyer poses is should he buy his own or stay on rent? The choice between buying a new home and keep renting is always among the biggest financial decisions an individual make. To help you answer this question, here we simplify which is a better deal.

For the years, becoming a house owner has been an essential part of an individual dream. Most of the young professions at the age of 20’s and early 30’s wish to have their own house now. So, it is very clear that owing a home is usually a smart decision, particularly when you are going to stay in an area nearby workplace. But it has everything to do with your own financial situation. Sometimes, buying a new home is the smart thing to do; other times, it really isn’t. Whether or not it’s smart for you will depend on a few different factors. Let us understand this through infographics taking you to the real situation and decide which one is ideal.

Meet Pallavi and Rishi who are on two different life paths but they keep same fate for real estate segment. Pallavi decides to stay with parents, so that she can buy own home. She thinks, It might take a couple of years. On the other hand, Rishi thinks that the process of buying home is tedious affair, so, I will keep renting. After five years Pallavi checks her financial situation and the true cost of HOME OWNERSHIP at happykyes and estimated her buying capability through Rent Vs. Buy Calculator….

rent vs buy should you buy a new home-or just keep renting in 2017
rent vs buy


Bengaluru’s trending property markets

Check out Bengaluru’s trending property markets

Bengaluru- the IT capital of India – is proving to be a bright destination for real estate investors. Most new home settlers find this city a perfect place to live and retire later.

It is a good time for the Bengaluru real estate market. In a recent report released by Colliers International, India for Q2 2016; Bengaluru stood first in terms of new residential launches and office space absorption. In April-June quarter of current financial year 24,000 fresh residential units were launched in top six metro cities with Bengaluru witnessing the maximum new launches.

This has changed the sentiments of new home buyers and the demand for residential units is on the rise and will remain consistent for coming years, say property experts. The property prices witnessed an increase as the supply and demand ratio has been neck to neck in the city.

According to the latest report released by real estate consultancy firm JLL India also, Bangalore and Pune would be the two markets which would see a favourable price rise over a period of time.

Om Chaudhry, founder and chief executive officer of the FIRE Capital Fund, says, “Bangalore is a rapidly developing with improved social and civic infrastructure and employment opportunities. The residential property market in Bangalore, has observed a stable phase as compared to other metro cities. Realty market here is comparatively mature than other regions of our country. Some of the key infrastructure projects like the elevated expressway, Bangalore-Mysore Infrastructure Corridor (BMIC), Metro Rail and proposed Peripheral Ring Road will come out to be positive and supportive of Bengaluru real estate market. There are many areas which have emerged across the city and are good for both end-users as well as for investors. Whitefield in Bangalore is such as a remarkable area, becoming an apt locality due to good connectivity, infrastructure and propinquity to work places. Electronic City is another good option for residential properties as the region is infused with world class facilities and is housing number of IT companies. Surajpur road is a booming realty destination with closeness to established IT hubs like Koramangala, Electronic city, Whitefield etc. This locality is emerging as a rental hub with great connectivity options. Areas such as Bannerghatta Road, Bellary Road, Hennur Road, HSR Layout are also promising for home buyers and investors who are eyeing for next big story in Bengaluru”.

Top localities by price

Bengalur trending property markets

According to Happykeys data, the top localities Bengaluru are Electronic City, Whitefield, Sarjapur Road, Hennur Road, HSR Layout and Bellary Road. Though Sarjapur Road has the highest average price (Rs. 4,000 – Rs. 7,000) per sq ft , Electronic City has witnessed the steepest rise with 25 per cent hike in property prices in last two  years.

All these localities are in high demand among new home buyers and investors due to high supply of all kinds of property. It is noticeable that Electronic City is one of the most happening real estate market of Bengaluru and has lower average price (Rs. 2,900 – Rs. 5,000) per sq ft.

Locality profile

All six localities have been given good ranking in terms of key livability parameters. The civic infrastructure of these areas are almost well developed. All daily needs of residents are available in proximity to the locality. Shopping complexes, entertainment hubs, schools, educational institutions, health centers, restaurants are established within the locality itself. The railway station is easily accessible from these areas.

They offer an ideal ambiance for IT professionals, families, senior citizens and young couples. A good location is important when buyimh a home. New home buyers should check thoroughly for discounts also. Real estate builders are offering good deal around this festive season.

Residential inventory available

Here’s is a summary of residential units available with their prices. In Electronic City, a 1 BHK flat will cost between Rs 15 – 40 lakh. In Whitefield, the same will cost Rs 25 – 42 lakh and in Sarjapur you need to pay Rs. 19 – 60 lakh.

A 2 BHK flat will cost between Rs 25 lakh – 1 crore in Electronic City, Rs 45 lakh – 1.5 crore in HSR layout and Rs 21 – 90 lakh in Bellary Road.

While on the other hand 3 BHK apartments are bit more expensive in these areas. In Electronic City a villa and 3 BHK flat costs around Rs 70- 80 lakh.

Real estate market trends

Experts say, Bengaluru has been always a star performer in terms of new residential launches and inventory absorption. The balance between demand and supply of the housing unit in the city remains balanced. The real estate market of Bengaluru is stable and has steady prices. The city has neither experienced violent ups and down nor a recession which could generate negative sentiment in home buyers or investors.

A high proportion of new launches was concentrated in the peripheral areas of existing commercial hubs in the city. In terms of location, Devanahalli, Budigere Cross and extensions of Kanakpura Road comprised a significant share of total new launches”, says Chaudhary.

real estate hotspots across India to buy homes

Top 3 real estate hotspots across India to buy homes

Experts believe that the realty market of India can be a promising destination for investors.

If you are planning to own a house this year, one that fits your pocket and holds a great scope for price appreciation; check out our list of top 3 real estate destinations in India where one could buy property for investment or end usage purposes. Happykeys identified these realty hubs based on connectivity and infrastructure, integrated model township, proximity to commercial hub and relatively affordable prices. These hotspots are ranked based on the high livability index and number of available inventories –

  1. South of Gurugram (Sohna), NCR

South of Gurugram is fast emerging as a prime residential location. According to a report by Cushman & Wakefield – the areas of south Gurugram such as Sohna have shown promising improvement on many key livability parameters.

Happykeys micro-market report reveals that the locality has potential for future urbanisation. The report is based on assessment of key parameters such as existing and potential connectivity with emerging commercial hub, health care infrastructures and educational facilities, rail and road connectivity etc.

Gitamber Anand, President, CREDAI says, “Sohnais an upcoming location with great potential for the future. We are looking at it very keenly especially to see the support the government initiatives are providing to this location. We are seeing definite interest from end users and investors for the currently underway projects.”

Major factors favouring Sohna:-

  • Excellent connectivity
  • Integrated model township (as per new city master plan)
  • Rail Corridor along Kundali-Manesar-Palwal Expressway
  • Mumbai – Delhi corridor
  1. Horamavu, Bengaluru

Horamavu is strategically located centrally between Whitefield and Manyata Tech Park. And these two suburb areas cater major chunk of young IT professionals. Horamavu- the sub-city of Bengaluru has become an important realty market of India.

According to R. Rohit who runs a property brokerage service in Chikkanna Line, Horamavu, “Strong connectivity with the rest of the city and even suburb areas make Horamavu a preferred choice of investment for many. The locality is surrounded by KR Puram, Hebbal, Ramamurthy Nagar, Banaswadi and Kalyan Nagar. The area is witnessing massive construction that leads to creation of affordable homes. In and around commercial area pushing the demand for homes in the locality. The locality is well connected through Outer Ring Road (ORR) and Commercial Street such as MG Road. It is also in proximity to HAL Airport. It is also known for housing IT giants and multinational companies, thus, witnessing a rising demand for real estate from professionals working in and around”.

Major factors favouring Horamavu:-

  • Close to ORR
  • IT hubs at Whitefield


  1. Magadi Road, Bengaluru

Located towards west of Bengaluru, Magadi is another location that has a huge potential in terms of real estate development. The popularity of this location is largely based on its smooth connectivity and easy access to Bengaluru airport.

Magadi is located at a distance of 42 km from the Bengaluru East Railway Station. The International Airport- Kempegowda is 80 kilometres away via National Highway 07.

The real estate market of Magadi is driven by its proximity with the BengaluruAirport. The flat built-up area in Magadi ranges from 1,200 – 2,400 sq. ft.

Major factors favouring Magadi:

  • Good connectivity via Nice Road
  • Outer Ring Road make easy access to other parts of the city
Gurugram Sector 83

Gurugram Sector 83: An emerging residential hub

Real estate market of Gurugram has always been promising. We take you through a popular location- sector 83 and understand how realty market is moving there.

This new emerging sector is witnessing a buzz in property market with ample housing options to choose from –  luxurious flats, row houses, villas and townships. When the realty market in other places of Delhi-NCR nearing stagnation, the property prospects of this region are still considered favourable. This is also visible in the significant increase in property prices in the sector.

According to the Happykeys Property Price Tracker Report – the realty prices in sector 83 was Rs 6,800 per sq ft in January 2016 which rose to Rs 7,000 per sq ft in September later. This scenario validates the high demand for flats in Gurugram’s sector 83 has been increasing. This rising demand for apartments in the area is backed by the establishments of IT and BPOs offices in locality.

Happykeys takes a look and describes why demand for flats in the area has been rising in Gurugram’s sector 83:

Growing commercial hub in the vicinity –

The improved civic infrastructure and excellent connectivity via nice road in sector 83 increases the scope for commercial real estate market in the locality. The infrastructure of the area is good, hence inviting more and more companies to set up their offices.  The giant multinational IT companies such as HCL and Adapt software Ltd. have already established their offices in sector 83. This scenario has led to an increase in demand for open plots in the sector.

Buzzing with residential estate activity –

The sector 83 residential market is mainly dominated by end-users, due to high supply of flats and apartments. The demand for high-end luxury apartments in the area is driven by working professionals in the locality which are mainly IT class with handsome source of income.

Some key developers who have their ongoing projects in sector 83 include Emaar MGF, Vatika and V Square. Some of the real estate projects lined up by these builders include Lifestyle Home and City Homes by Vatika Group, Paradise by Mapsko etc.

The average price of an apartment in Sector 83 is Rs 5,100 per sq ft with built up area ranging from 500 – 3,745 sqft. Currently, there are 6 projects in progress in and around Sector 83.

Shopping malls & entertainment –

Popular shopping centres around Sector 83 include Mega Mall and Central Mall. Recreational spots around the locality include Appu Ghar, Sultanpur Bird Sanctuary, Tau Devi Lal Bio Diversity Park and 32nd Milestone.

Rera notification

Home buyers’ sentiments upbeat as RERA gets notified

Home buying sentiments in Noida is on an upswing. A combination of pre-Diwali sales coupled with responses on the implementation of the Real Estate Regulatory Act show people in the city are ready to buy.

Home buying sentiments in Noida is on an upswing. A combination of pre-Diwali sales coupled with responses on the implementation of the Real Estate Regulatory Act (Rera) show people in the city are ready to buy and those who want to own a house are going to increasingly choose Noida over other parts of NCR.

With the Rera notified by the Union government and now being implemented at state level, the buyer’s sentiment in NCR seems to be on a recovery. It has been notified by all Union territories, and is set to be adapted by state government over next few months. The act will come into force all over the country from May 1, 2017. All constructions which have not yet procured completion certificates will now fall under Rera.

The builder community and real estate experts indicate the implementation of Rera will impact buyers in Noida and Greater Noida more than anywhere else in NCR as it hosts maximum end users. The key point of the Rera which makes all builders to keep 70% of the funds in an escrow account to ensure completion is the highlight of the Act, which ensures builders will have to complete the project for which they are securing funds from the buyers.

“Over last one month, builders in Noida have experienced a sales hike of over 15% as compared to pre-festival sales of 2015. This has taken place as many builders have secured completions from Noida Authority. Now buyers are interested in ready to move in apartments and Noida has a lot to offer in that segment. With Rera all set to be notified, we expect the buyer’s regaining faith in the industry further. Over the next couple of months, we expect more sales to pick up in Noida region, specifically,” Manoj Gaur, president, Confederation of Real Estate Developers authority of India (Credai), said.

According to experts, the sales would now largely increase in the affordable segment. “It is over all good news for Noida real estate. National level players, like Godrej and TATA, have launched their projects here. The pre-Diwali sales saw an upswing. The implementation of Rera will now instill more faith in the industry. Most apartments in Noida are in the affordable range, which is below Rs 4000 per square feet, so we predict sales to pick up in Noida market further. There are also new launches lined up along the Expressway,” Surabhi Arora, senior associate director, research, Colliers International, India, told TOI.

Meanwhile, home buyers of Noida welcomed the implementation of Rera. “It is a big relief for buyers. Now that the Central government has implemented it, the UP government should set up the regulatory as soon as possible. The entire industry is set to gain from it and it will help attract more buyers as well,” Abhishek Kumar, president, Noida Extension Flat Owners Welfare Association (Nefowa), said. Nefowa has been one of the core teams that had organized the ‘fight for Rera’ campaign by home buyers all over the country.

“The builders’ community welcome Rera, but we are yet to understand the finer points of the act like how the escrow account will be implemented for projects that are almost complete. We hope to get more clarity on the same in the days to come,” Gaur further added.

Source: TOI

Noida Sector 137

Why Noida sector 137 is safe real estate bet

Noida sector 137 is one of the fastest growing real estate locations in the NCR circuit and has emerged as realty hotspot for all income groups. Take a look at what the locality has to offer.

With slew of new infrastructure, smooth connectivity and huge available inventory make Noida an ideal place for new home settlers and investors. The real estate market of Noida is dotted with some of quality commercial and residential projects launched by major realty builders. Sector 137 is one such locality in Noida which has created buzz in the real estate sector as the construction of new launched flats are in full swing here. The fast developing locality has been the favourite destination of IT companies and BPOs. In addition to this, the area offers exotic living options for home buyers through multiple housing options.

Here’s a snapshot of locality profile which describes how the demand for residential flats in sector 137 Noida has increased:

Proximity to Delhi

Location is the first decision making factor for new home buyer. Sector 137 is easily approachable from key major localities of central Delhi. The area like New Ashok Nagar, Mayur Vihar, Laxmi Nagar and Connaught place are easily accessible via metro route. These localities are accessible via road within a drive of 20-25 minutes. The Indira Gandhi International Airport is located 35 kilometer away.

Commercial hub in the vicinity

In addition to the availability of huge land parcel for residential purpose, the locality has the presence of giant commercial ventures. Major software companies such as Wipro, Accenture, HCL and other commercial ventures like Metlife, KPMG and Sterai have set up their corporate office in the sector.

Proposed metro connectivity

According to proposed metro line by the Noida Metro Rail Corporation (NMRC) – 29 –Kilometre Noida-Greater Noida metro line which will have 22 metro stations. The new line will start from sector 71 hub station and will pass through sectors 50, 51, 78, 101, 81, 83, 85, 137, 142, 143, 144, 147, 149 and 153; after this it will enter Greater Noida and will go through Knowledge Park-II, Pari Chowk, Alpha-1 and Alpha-2 before terminating in Knowledge Park-IV.

Finest civic infrastructure

Sector 137 is located along the red light free Noida-Greater Noida Expressway which leaves a vast scope for the realty growth of this locality. Due to boost in local infrastructure development and improvement in transport connectivity, the property prospects of Sector 137 have improved considerably and demand for housing apartment is constantly rising.

  • Top hospitals: Felix HealthCare, ESIC Dispensary, CGHS Wellness Center (Sector 82, Noida), Raj Poly clinic nagli Wazidpur (sec 135), J.S. Memorial Hospital and Life Care Hospital.
  • Schools: Shiv Nadar School Noida, Indraprastha Global School Noida, Shanti International School, Amity school, The Shriram Millennium School and educational institutions like Indian Institute of Finance.
  • Banks situated in the vicinity: Shivalik Mercantile Co-Operative Bank Limited, HDFC Bank, Commercial Co-operative Bank Limited(Sikandarpur village, Noida) and State Bank of India
  • Shopping malls: The mall of India – DLF and the Great India Place mall is located at just 15 km away from sector 137.

Top 4 popular projects that are worth investing in sector 137 –

Paramount Floraville: This brand new residential projects is sprawl over an area of 14 acres. These are 1530 units of apartments in 2 and 3 BHK between the size range from 1,045 – 1,685 sq. ft.

Logix Blossom County: This project is developed by one of the reputed builder of Delhi-NCR. Spread over 25 acres of land, the venture offers 2-4 BHK flats between the size range  from 9,00 -2,375 sq ft.

Gulshan Vivante: This residential venture is sprawl over 40 acres of land and offer 2, 3 and 4 BHK flats with size ranging from 1,080 sq ft. 2,645 sq ft.

Exotica Fresco: This township project is sprawl over 7 acres of residential complex which offers 800 units of 2, 3 and 4 BHK homes.

New Exit Policy to help realtors, buyers

Update: New exit policy to help realtors, buyers

The new Exit Policy, when implemented, will provide relief to thousands of homeowners who are unable to get possession or register their properties.

Update as on October 22:

Taking serious note on the growing problem of NCR buyers, the three development authorities of Gautam Budh Nagar shared a common agenda on timely delivery of projects to help buyers. This good news came when three board together agreed upon the new rule and cleared the long-awaited Exit Policy for realtors those who are struggling to complete under-construction projects in Noida Greater Noida.

The authorities (Noida, Greater Noida and Yamuna Expressway) have approved a series of measures under this new policy in an attempt to protect the interest of homebuyers and bring new hope in the real estate sector.

The implementation of Escrow Account is primary among all rules that will be monitored by the Noida and Greater Noida Authorities. The account will will be used to finish housing projects running behind schedule. The project settlement policy is remaining, has been sent to state government for approval and will come into force once it gets the green signal.

Update as on September 12:

Exit Policy to be Discuss by UP Government

The New Exit Policy rules were on September 12 put up for discussions and he UP government is likely to discuss an exit policy proposed by the Noida, Greater Noida and Yamuna Expressway authorities for allottees defaulting on their payment towards property.

The state government is likely to hold a meeting in Lucknow to discuss an ‘Exit Policy’ proposed by the Noida, Greater Noida and Yamuna expressway authorities for allottees defaulting on their payment towards property owned by them. According to officials, the proposal was forwarded to the government after a joint board meeting of the three authorities cleared it in June this year.

Update as on June 06:

New exit policy to help realtors, buyers

The three development authorities of NCR may soon bring new exit policy for realtors. As per new policy, builders those who have acquired land for a group housing project and not able to execute it for any such financial reason, may quit and get their deposit back, if they want to move out from the project.

Builders can surrender surplus land that is unused to the authority. This has been decided jointly in a board meetings and proposal on this is being prepared and will sent to Uttar Pradesh government for further approval.

Prashant Tiwari, Chairman, Prateek Group says, “At present, real estate is recovering from the slowdown phase and there are various factors due to which developers are unable to deliver their projects. Most adverse amongst them is slump in realty sales which is cutting down the developers funds. Due to such circumstances, developers have not been able to launch the new phases of their projects too. In many cases they have defaulted land payments to authorities also. The developers are happy with this exit policy as this will help them clear their financial liabilities and allow them to complete their existing projects.”

This new move has been welcomed by developers and home buyers. Exit Policy will put positive shadow in real estate market, say realtors.

The new exit policy chiefly entails that:

  • Suppose realtors bought hundred acres of land to construct a group housing project and they may have completed one or two phase of their approved projects, but current market situation is not favouring and they may not willing to take risk to launch another phase. The policy allows him to surrender the rest of the parcel of land to the authority and get back deposits.
  • For instance, realtors owe dues of Rs 3,000 crore. If the new policy is implemented, developers can get rid of unused land can use the refunded capital in completion of their existing projects.
  • Money will be refunded to the developers at land allotment rates only.
  • The authority will refund 70 per cent of the deposit.

How will this move benefit builders and home buyers?

Big relief for realtors: After the sluggish real estate market in the national capital region what comes as consolation for realtors, if they are allowed to surrender these land parcels, they will be able to use the refunded money in a more productive manner to complete the sick projects. Even they can utilise the cash on their market planning to sell inventory.

Home buyers benefit: In the past, there have been several cases when the buyers who have invested in housing project in NCR and possession dates have been delayed by the developer. In some cases, the builder fails to deliver the project in specified timeline due to financial stress. This has nearly affected lakhs of home buyers who booked flat in Noida. Now with the enforcement of exit policy, builder can complete the project which is nearing completion and can give possession of flats on time.