Why is Chennai’s realty situation looking up?

The real estate situation in the country has been evident to everyone for the past couple of years. The sales volumes have been coming down and there isn’t much growth happening with the sector. Prices have been steadily creeping up with no hint of a let down. This has forced end users to abandon their dreams of owning a property of their own. This is especially true of lower and mid income groups.

One of the markets which held strong despite the slowdown was the southern city of Chennai. This is because of the fact that this city was considered to be market driven by end users. When a city remains end user driven, speculation plays next to no role in where the place stands real estate wise. The growth experienced by the market will be organic and not forced. Prices rise will be a natural one when a market is end user driven as opposed to the artificial one seen in the cities where speculation has played a role. The latter does more harm than good as these artificially inflated prices will find next to no takers in the long run.

Even though Chennai was a strong real estate market, it was not strong enough to survive the lean patch that the country was going through. There have been a few reasons which had slowed down the market.

The floods which took place on December 1st, 2015 is one of the main reasons for the slowdown being seen in the real estate sector here. The death and destruction brought on by this unprecedented natural calamity had shaken buyer confidence in the city. It showed the city in a bad light in terms of preparedness to face such disasters. The lack of infrastructure really hit home. Buyers stayed away from low lying markets especially as these were the worst affected during the floods.

Another reason cited for the slowdown was the political instability being witnessed in the state. When such situations occur there won’t be a lot of confidence in the state. Many investors who can create jobs and wealth for the region might wait till the situation clears up might choose to relocate their project to another state which shows more stability. This in turn will have an impact on realty.

But things seem to be looking up for realty in the city. The sales numbers coming out of this region have given those in the sector hope. There has been a marginal increase in the number of homes being sold in the city. The inventory overhang also has come down. Villas in Madambakkam and more other such properties across the city are getting a new lease of life.

It seems affordable homes are driving this resurgence. Many of the homes which are being sold are in the below INR 50 lakhs range.  Besides this there are a whole bunch of governmental level policy changes which are aiding the real estate sector. Taking all these factors in, now might be a good time to purchase villas in Madambakkam or any other project you have been thinking about buying in Chennai.

Rising locality for perfect abodes – Medavakkam

One of the hottest hubs for residential properties in Chennai is Medavakkam. This is due to the closeness of localities like Sholinganallur, Madipakkam, Velachery , Tambaram etc. Further, the area is under South Chennai Constituency which has endless IT corridors. Its consistent accessibility, transportation has made home buyers swarm like bees to this locality.

The apartments in Medavakkam, are quiet reasonable and within budgets than other localities in the city. The properties here have state-of-art amenities and ambiance which reflects a piece of heaven of earth. Some of the moving areas for apartments in Medavakkam are Babu Nagar, Vimala Nagar, VGP pushpa nagar, Aishwarya Garden, Soumya Nagar, BHEL Nagar, Royal Garden, RG Nagar, Iyyapa Nagar and so on. Apart from this some of the neighbourhoods of Medavakkam are Chrompet, Pallavaram, and St. Thomas Mount etc. Moreover, Medavakkam has soar to 6th largest place in reality out of 13 ideal residential spaces in the whole country as per a study taken in 2012 -2017.

Besides, the locality is best known for its ace and serenity. Adequate and fresh water, 24 hrs power supply and sanitation are the other adding advantage in these residences. The emerging metro is a major advantage for people living in that area. Further it is CDMA approved. Developers have started to excite investors and buyers with varied offers such as holiday packages, discounts on loans, no EMI’s and so on.

There are 1, 2, 3 and 4 BHK apartments at reliable cost. It comes in a minimum of 561 Sq.ft at Rs. 27 lakhs for 1 BHK and 750 sq. ft at Rs. 27 lakhs for 2 BHK apartments and 3 BHK flats at 1242 Sq.ft for Rs. 56 Lakhs. Apart from buying you can avail apartments in Medavakkam for rent within preferred prices.  The minimum price for rentals can be availed from Rs. 14,000 – Rs.21, 000 for 3 BHK with 1269 Sq.ft – 1418 Sq.ft, and 2 BHK from Rs.8000 – Rs. 20,000 with 700 Sq.ft – 1200 Sq.ft.

Apart from this, prominent schools such as Bharathi Vidyalaya Senior Secondary School, BS Matriculation School, Ravindra Bharathi Global School, Velammal New Gen School etc are there and for foodies out there, there are a chain of sumptuous restaurants such as AGS Restaurant, Anjappar , Cascade, Dindigul Thalappakatti, Grand Sweets and Snacks, Gupta Bhavan, Hotel Sri Raj Bhavan, Namma Veedu Vasantha Bhavan and so on. When it comes to healthcare, there many prominent hospitals like Vcure, Global hospitals, KP hospital, Annai Teresa etc. are present.

Other than this you can avail all top banks and atm’s 24/7, cineplexes, malls, etc are available to spend your leisure time and for shopaholics all branded retail stores, and other showrooms etc are just minutes away from the locality.

With these facilities and environment, Medavakkam stands tall amidst other locales when it comes to real estate. It has become a driving factor for people who look to invest in the south of Chennai. This has helped it growing and you can witness more ventures that are yet to come.

Kanakpura Road fueling the real estate growth of Bangalore

Kanakapura is the hottest investment destinations in Bengaluru today, with the Kanakapura Road real estate market growing, due to its seamless connectivity to the major business zones in the city. Kanakapura is a town located 55 km away from Bangalore. The Kanakapura road is a part of the NH 209 which connects Kanakapura to Bangalore. Kanakapura Road has become active on the real estate especially in the residential sector, thanks to infrastructure developments such as the establishment of NICE (Bangalore-Mysore Infrastructure Corridor) Road which has enhanced connectivity to Electronics City, Bannerghatta Road and Mysore Road. Bangalore Metro Phase 1 till Puttenahalli. There are various reasons for the demand of this area. One of the chief reasons is the advancement of Bangalore attracts people from all over the country to settle in the city. But the city is almost saturated and property rates have also sky-rocketed. So people are slowly moving to the sub

urbs in search of homes. Kanakapura road is hence becoming a one of the most sought after localities. It is also famous for its green reserve, being situated in amidst forest.

The development of the airport opened doors for offices and mixed-use developments along NH-7, connecting Yelahanka and the airport. Availability of large land parcels for big projects and good rail and road connectivity with the core of Bengaluru were also driving the investment sentiments in Yelahanka. Kanakapura road is a key arterial road that starts in Basavangudi and runs through posh localities in south.  Infrastructure in the region is also among the best in the City due to the elevated expressway, monorail, excellent connectivity to prime locations. Another major factor that transformed Kanakapura into one of the sought-after areas in the city is the Bangalore-Mysore Infrastructure corridor project that envisages a 106 Km six lane super highway. The connectivity to different places through NICE ring road and extension of metro has made the area as a real estate hot-spot. The road has transit points that give you several options of connectivity to different locations.

While thinking to invest, one can consider plots and sites, flats, villas in Kanakapura Road, commercial buildings, commercial sites and lands in and around Kanakapura Road for investment purposes. As far as the property appreciation is concerned, the real estate investments will fetch good returns in short time in Kanakapura Road. Increase in demand for properties in Kanakapura Road with directly proportional increase in number of dwelling units has also paved way for a great rental market yielding an average of Rs 15,000 for a reg

ular 2 BHK apartment. The present rates are pretty competitive and there are housing options for every budget. The proposed developments in the area, are bound to ensure good appreciation, while social infrastructure is also rapidly being developed. These points more than evidently prove that Kanakapura Road is a perfect destination to invest and park their funds, these not only will yield good returns, but will also make a wise investment choice.

A look at some of Andhra’s top realty hubs

Andhra Pradesh is one of the leading states in the country in terms of job opportunities and providing a great quality of life. Here is a look at some of the cities in state and their real estate scenarios.

Tirupati

While most know Tirupati as the temple city that draws lakhs of pilgrims every years, not many would know that it is also a major educational hub with several universities and colleges including state government and Tirumala Tirupati Devasthanam sponsored medical, pharmacy, agricultural and engineering colleges in the city.

Tirupati’s road and rail connectivity coupled with its accessibility to Chennai, Bangalore and other nearby districts. It is being groomed as one of the commercial hubs of the state with an Information Technology Investment Region (ITIR) being planned in the city.

Real Estate Scenario

According to sources, with the government announcing an IIT, IISER (Indian Institute of Science Education and Research) and a Central University for Tirupati, real estate prices are expected to rise by 10 per cent over the next few months.

Visakhapatnam

Vishakapatnam, also known as Vizag has all the qualities to become the financial capital, IT hub, cinema center and tourism center of Andhra Pradesh.  Besides Hyderabad, it is the only city with two ports, an international airport as well as good railway connectivity. Over the past few years, Vizag has already established itself as a strong IT hub with the government planning an IT incubation center, and an ITIR spread over 12,000 acres. Besides this Vizag is also considered a hub for education with many state-run schools, private institutions, missionary schools and colleges.  Plans are further afoot to set up an IIM and an IIT in the city. With a well-developed retail and hospitality sector, Vizag is witnessing unprecedented growth. The city has a good cosmopolitan crowd, with a mix of all communities and hence is considered a good option by the migrant community as well.

Real Estate Scenario

Real estate prices in this port city have been zooming northward with prices increasing by 10 to 15% during the last couple of months. Properties are becoming popular here by the day.

Vijayawada

Known as the ‘commercial capital’ and also ‘political capital’ Vijayawada is also has great economic prospects and is famous for agro products processing, automobile body building, hardware, textile, consumer goods and small scale industries.

With good quality schools and colleges, Vijayawada is also an educational hub. The city is well-connected by railways and is the vital south-north link. It is the only city in residuary Andhra Pradesh state with rail, road, air and water links with the rest of the state and country. Trains connecting all metros in India pass through.

Real Estate Scenario

This with developed infrastructure and superior connectivity, Vijayawada has everything that a developed city needs. However the real estate sector in the city is reaching a saturation point with skyrocketing prices making buying properties here unaffordable for the common man. According to the Greater Vijayawada Builder’s Association, the quoted price of a square yard of land in in Vijayawada city limits used to be Rs. 15,000 to Rs. 18,000 has grown to a staggering Rs. 1 lakh.

How to pick an area rug perfect for spring and summer

Buying a rug can be kinda overwhelming, there are a lot of factors to consider. How to choose the right rug size for your space is difficult, especially when rugs are notoriously kinda expensive and therefore intimidating. In general people buy rugs that are too small because 5×7 and 6x9s are so much cheaper than 8x10s or 9x12s, but its often going to make the whole space look chopped up and accidental so in a way you’ve just wasted that money. Measure the size of your seating area before shopping and get the closest size up from that. If your budget is tight and your room is small you can have a smaller rug that floats in front of all the furniture this is especially ok if your sofa is backed up against the wall you don’t need to waste the rug real estate under the sofa if you can’t even see that its there. But if your furniture is floating or if your room is big, get a larger rug or else it will make the room look smaller, chopped up and totally out of proportion. One of the main functions of a rug is to pull the room together, not chop it up.

How to pick an area rug perfect for spring and summer

Orient the rug to the room if you have a long rug, orient it length wise. If you have more of a chubby fat room, orient it horizontally.  This is not always the case so its a very nuanced situation. Often if you have a really long and skinny room then you might have two different seating areas and two rugs that are oriented with those seating areas, but the rugs need to cover up a certain amount of real estate on the floor in proportion to the room, so if you are orienting the rug to your sofa, not your room then often you are cutting off huge portions of the room and again, making it look smaller.  So when in doubt, go with the orientation of the room. Square rugs are for square rooms.  That is all.  Round rugs are for foyers/entries or kids room/family rooms that are more playful.

If you have a rug that is too small but you love it, then buy a large sisal that fits the whole seating area and layer your favorite rug on top . Sisal, jutes, seagrass rugs are cheapish so buying a 9×12 is more doable than a 9×12 antique kilim. Make sure that your rug is has at least 6-10″ on either side of the sofa. This is crucial. If the width of the rug is the same as the width of the sofa then you are in trouble – it will look too small and create a bowling alley effect for the property. If you have to choose which legs should be on, then choose the ones that are the least obvious. That is, if your sofa is low and closer to the wall then you are less likely to see under it and reveal the fact that its not fully on the rug.

Advantages and Disadvantages of building Vertical gardens in residential areas

The trend of vertical gardens is growing globally. With limited area and high real estate cost plants are hardly seen in urban homes. Even if they find space in our homes they are limited to few pots and plants. Building vertical gardens is believed to be an innovative solution to stay close to greenery without compromising on horizontal space in high valued real estate in cities.

Plants are known to have a soothing effect on humans and help us stay in touch with nature and landscape. On one hand many believe that as they can be maintained better they are apt for areas with human habitation, while there are many who believe that vertical gardens are better for public spaces. Below are some of the advantages and disadvantages of having vertical gardens in residential areas.

With limited availability of horizontal space in cities, vertical gardens seem to be a perfect fit to cover depleting green zones in urban areas. It is a cost effective solution as real estate cost is negligible here. Even though the price of installing vertical gardens is currently high, but with increasing demand the price is expected to go down.

Besides its real estate feasibility, vertical gardens have many other benefits of creating such biodiversity in cities. a) reduction in urban heat island effect, b) reduction in smog, c) act as sound barrier and help in reducing sound pollution d) improve quality of air we breathe e) creates healthy eco system for living organisms like birds and insects f) makes our cities look beautiful and green g) helps in reducing dust, h) in homes the soil quality and plant quality can be maintained i) residents can easily make sure proper hydration for plants j) residents can grow vegetables and herbs for their daily use.

Vertical gardens is a flexible solution and can be installed anywhere from a blank wall or a column to patios to balconies to boundary wall to railings. Even the height of the garden can be adjusted depending on the space and convenience of the residents. These days these gardens have become more advanced and can be installed with an automated drip system for irrigation.

Now if we come to disadvantages or few things we need to be careful about while opting for vertical gardens are – a) construction of vertical gardens are financially and technologically challenging b) they require high maintenance compared to horizontal green spaces c) not all plants can be grown using this format d) limited to small plants and herbs e) one needs to be careful while choosing plant species as the ones with deep roots can affect building structure f) these plants would attract unwanted insects into residential premises g) plants will emit carbon di oxide in the night, so placement of plants needs to be planned carefully.

Vertical gardens have many positives and they are becoming a contemporary and innovative element of urban green infrastructure. Even though they cost more and require maintenance, they are still a better option than having no plants in urban spaces.