Indian-Real-Estate

With more than 6, 00,000 units of inventory in India’s top cities, the situation is alarming. One in three houses constructed is unsold, despite builders, agents, online broking houses and now even e-commerce websites trying to allure consumers with lucrative schemes and offers.

Urbanization as a trend has just touched the tip of the iceberg and India has a huge demand for houses. Industry experts anticipate this number at 50 million houses in next 10 years. Strangely, over supply of inventory in the second most populous country in the world is an irony.

Unlike some European countries where the population growth is in the red, India is experiencing a very high rate of population growth and selling of ready houses really should not be a problem. More people are getting more liquid money to invest and a good number of immigrants moving in and out of major cities are some of the factors that drive real estate demand in the country. It is indeed paradoxical that there is supply and there is demand, yet no transactions.

What is driving this ironic situation is a market that is going through a transition – from high-growth expectations of the past to a mature market that will see rational returns.

Builders are still reminiscing on the hay days which were driven by a high growth rate economy where projects used to get sold in a jiffy and give big returns in a short time. Some ambitious developers still working on similar lines; they launch one project, and use the capital from initial sale to start a second project, then use the proceeds from the second project to start a third and then a fourth and sometimes even a fifth. They entwine cash-flows and spread themselves thin. However, they fail to realize that this strategy would not work in a slow economy; projects do not sell as fast, spelling doom on all subsequent projects.

Developers must focus on delivering as delays not only impact returns but also impinge on the investor sentiment in general. On the whole, the market experiences a downward curve and gets caught in the cycle of price stagnation, rising unsold inventory, incomplete projects, resulting in poorer returns on investment.

Builders, in their enthusiasm have gone way outwards than currently supported by the market. Moreover, with inadequate and restricted alternatives of structured financing, they raise funds from small time real estate investors who demand quick and hefty returns. Developers have no option but to artificially inflate the basic cost of the property. The markets have reached a point where these prices have gone beyond the affordability of end consumers. They would however, not reduce the prices as this will break their investor network. Whether the inventory remains unsold or is in the hands of speculative real estate investors, there is a desperate search for end-customers and real users – who remain elusive.

The Indian real estate industry is transitioning from a “pre-launch” to a “build and sell” model like developed markets which are the signs of a maturing industry. From traditionally a seller’s market, real estate in India is now a buyer’s market. Each buyer has lots of similar options to choose from. If buyers start dictating the markets, ask for transparency in the real estate pricing, a paradigm shift is bound to take place. Existing online players will struggle and will be forced to reinvent themselves. We’ll see transaction-oriented models vs simple listing-based models that will bring transparency that consumers so want today.

Home selling tips

These days many real estate investors are looking for buyers to leverage their investments through flat sales. Here are some tips which will help you to get the maximum price of flat, when you sale them in buyer’s market;

Property Guide:

In present, our country is witnessing huge growth in buyers market and it’s just because of slow economy in which buyers are trying to leverage their real estate investments. According to estimates of real estate experts, it can take many months for brokers to offload the current inventory. Normally, any property takes more than two months to crack sale and in that scenario if home owner want to sale his property in very less time, so sellers can find it difficult to get the good price for property. But as home seller you should not be disappointed because still there are some tricks through which you can get good deal for your property. Here are few important suggestions in an order to make a deal at good price;

1. Take a help from real estate agent:

Buyers market and sellers market is totally different and its real estate agents who can help you perfectly in this situation.  Help from real estate agents will be very useful because they are the person in market who constantly receives inquiries about residential and commercial properties. Apart from that you can also list your property on real estate portals because in present these real estate portals are accessible from large number of audience. While listing your property on real estate portals make sure that you are adding good quality images of your property from different angles because it will allow buyer to sneak peek into the property. If you are not good in clicking images than you can also hire a professional to click the photos and this property pictures will be good enough to flatter the buyers. It’s strongly recommended to not touch the images because it can provide false impression of your property. However; real estate agent will change some fee on their service.

2. Quote your home at right price:

It’s very important to quote your property at right price as per latest market trends because to earn more profit if you will set your home price higher than the market trends so there are chances that you will find it difficult to get the buyer in stipulated time. It’s recommended to consult with your real estate agents and select correct price with some elasticity, so that buyer can also negotiate till some extent. If you want to sale your property soon, so you can fix your property price little lower than the properties of your neighborhood.

3. Be ready for negotiations:

In the country like; India, every buyer prefer to leverage the situation and negotiate on the price no matter they are buying properties in lakhs or electricity gadget in thousands rupees. Never hesitate to negotiate with prospective buyer, who is ready to offer little low prices than your demand. If there are any taxes due on the property, so you should discount the price and tell the buyer that you will clear these dues before settling a deal.

4. Try to be flexible:

Whenever buyer asked you to show your home, so try to offer them visit because most of the time during weekends and daytime buyers love to visit the property and on that time you should be there, so that you can represent your property in good manner.

5. Fix –up issues:

If you have any issue at property location or in building so try to fix that issue because if you will keep your property in tip-top condition so it will impress your prospective buyer. If you are sure that you are going to sale your property, so you can get the fresh coat of paint at your home and it will enhance the valuation of property.

real estate developers in mumbai

We all know that Mumbai is the financial capital of the country and it is the city where most of the leading real estate developers have their head offices. According to recent survey Bengaluru based real estate firms are well impressed with the skills of those who are working in the Mumbai based real estate firms and due to that most of the Bengaluru based leading real estate developers are approaching to Sr. executives and consultants for the top position who are working for Mumbai based developers.

In last, one year more than 15 Sr. executives from the real estate firms of Mumbai have moved to Bengaluru. In the latest moves, Om Ahuja, CEO of residential services at Jones Lang LaSalle in Mumbai head office, joined Brigade group as the CEO of residential services in Bengaluru. However; 8 months before Ozone group hired the Srinivasan Gopalan on the position of CEO whereas; earlier he was the COO and CFO of Wadhwa group, a Mumbai based real estate firm. Bhavesh Kamdar was earlier with L&T Realty, but recently he joined Embassy group as the head of leasing department.

Om Ahuja, who recently joined Brigade group as the CEO of residential services stated that “In Bengaluru the prospect of joining new company and getting more exposure in real estate sector is much more and due to that I joined Brigade group, which has very good track record in building the best quality integrated townships. Apart from that Brigade group has been recently rated as the great place to work and due to these mentioned reasons I decided to move to Bengaluru and it was easy for me even after spending 20 years in Mumbai.”

Why real estate market of Bengaluru is attracting real estate professional?

In present, Bengaluru is witnessing huge growth in terms of property development as well as price of real estate market and due to that in past eight months of duration the city has witness the sales of more than nine million square feet in commercial space. These days Mumbai based real estate developers are focusing on the luxury residential and commercial development, whereas; in Bengaluru there is demand for office space and city has fuelled the demand for homes buyers as well. However; the city has accounted more than 49 per cent office space absorption in 2014.

According to the reports of Colliers International, Bengaluru has absorbed 13.77 million sq ft of office space in 2014. The Gopalan added that Bengaluru based real estate developers are transparent, professionals and they willing to share project ownership with other private equity firms. In Mumbai, CFO’s of the organizations run the whole show, but in Bengaluru it is the CEO who is responsible to call the shots with the focused operation.

Professionals are running Bengaluru based real estate developers and due to that they are interested in hiring the professionals on frontline. As per the real estate experts, the houses in Bengaluru are listed with the respected names such as; Prestige, Brigade, Puravankara and Sobha as well as some of the unlisted real estate developers such as; Embassy group, RMZ and more. Apart from all these as per the real estate experts companies in Bengaluru are offering better career and growth.

gold vs property vs shares

Recently, in an interview with CNBC-TV18, Manishi Raychaudhuri of BNP Paribas stated that recent weakness in the prices of property and gold can be the main reason why domestic investors are flocking towards the stock market and it could be bounty for equity investors in the long term.

In present, it’s difficult to make any prediction because market is still uncertain. These days Indian public sector banks like Bank of Baroda and other banks are recording little small increase in non-performing loans (NPLs). Now in India market seems to be volatile as China and government is expecting to act as the backstop for their equities. According to experts, for short term India will continue to outperform because these days investors are appreciating as still it is one of the best markets with a good options and choice of stocks. As an investor we all like to invest in private sector banks because they are able to raise their capital and asset quality, which is very much alive. However; retail clients love to deal exclusively with institutional clients, but if you will analyze the performance of gold and property, so you will understand that they are used to occupy the lion’s share in the asset allocation when it comes to middle class. It means in the developing country like India most of the people are investing their more than half of the saving in real estate and gold. Apart from that now people also prefer to invest in the alternative asset classes and it seems to be pretty relative attractiveness of equities and unattractiveness of the alternative asset classes.

The saving rate of India is 30 to 40 per cent and it is a USD 2 trillion economies out of half comes from financial assets which is about USD 350 billion and if 10 per cent will go to the equities, so it will become the 30 to 40 billion per year. And it will be larger than the FII inflow in country, which India has received ever. These days financial experts are targeting a Sensex on 30,300 by the end of this calendar year and it will approximately 8 to 10 per cent from the present level. However; the appreciation of US dollar would obviously be another tailwind for this sector. There are few commodities such as; oil and gas or energy, and they all are refining the margins. With the performance of NIFTY at last Friday its clear that it was surprising as the entire rise are for short volume as well as momentum support. Nifty is closing in decisive manner and for August month we can expect certainly positive response.

residential_property

With appropriate budget and clarity on location, you can easily select the best residential property for yourself. At some point of time in our life, we all dream to have perfect home, but it’s not an easy task to find the perfect residential properties which synergize your all requirements and needs. If you are planning to buy residential property, so it may take to plugging into lifetime savings with countless and long iteration of property search as well as discussions and negotiations after identifying the correct property. But there are few factors which can simplify your over all property search as well as it can help the end users to identify the best residential property.

While selecting any property, budget plays an important role as it is social and economic identity of humans in society. However; basic and most fundamental step towards property selection exercise is budget and location and no one can underestimate the importance of them. Its helps in the management of one’s financial resources and effective utilization of them. However; it also helps in the filtration of right kind of property from wide range of property options to selected properties. While deciding the budget you should be careful, because if you are running with lower budget, so you might end with the selection of poor property which can cause inconvenience and dissatisfaction in future. Since each and every property needs high amount of investment, so sometimes you find it difficult to revise the decision after compromising with quality, location and budget of the property. In the same way fixing an overall budget which falls off the threshold limit of one’s financial capacity will result into the waste of time with unwanted property search exercises. International quality, beautiful landscaping, wide range of state of the art facilities with correct combination of amenities can dazzle the buyer, but high property prices will not take these things anywhere. Whereas; if you are looking for lavish homes and you already have certain expectation which is very high, so in later stages of property selection it will be tough for you to pull down the expectations.

Location of property:

Location is the vital element in any kind of property search and selection. It serves many objectives, as we all have to fix the set of  needs and requirements like; distance from office, schools, market and availability of malls and other social amenities such as; hospitals, banks, and more in the nearby vicinity. So it’s recommended for the end users to do a proper calculation with these parameters before making the final decision about property selection at key locations. In the same way you should keep in mind that significance of residential property purchase in respect to the property investment objectives should matters a lot because it help to decide the ROI. It is advisable to select the appropriate location to robust social infrastructure in the form of colleges, schools, hospitals and restaurant. Locations connectivity is key in commercial markets that are crucial to get the high ROI through higher demand.

Facilities and amenities:

As per the need and requirements, the configuration of facilities and amenities can alter, based on the personal and family needs, you can select the right number of bedrooms and home size. However; its recommended to analyze the exact size of the home in respect to that family size. While choosing the size of home make sure that you are analyzing the property size with carpet area because it defines the exact area within the walls of a house however; other specifications such as; most of the time floor area and built up area can give the misleading results. However; the buyers should understand that available range of amenities and significance f property matters a lot. These days apartments are coming up with large range of amenities such as; swimming pools, gymnasium, 24*7 electronic surveillance, Health zones, Yoga center, food joint and more.

Credibility of real estate developers:

Before buying property its your responsibility to confirm the credibility of real estate developers in the form of past construction work, experience, financial strength and ability to manage the multiple projects as well as track record of past projects. Because of economic uncertainties in past, as smart buyer you should emphasis on purchasing a property from top quality real estate builders. It will ensure you that you will get better ROI in future.

Time for final decision:

If you are doe with property selection at right location and within your budget range, so the next step is to estimate the desired time to move in the property. Every time you will find different property at different levels such as; pre launch, under construction, ready to move and more. So its recommended for you to know the correct status of project and consult with the real estate developers to know the desired time to move in property.

Property selection and financial angle:

In present, more than 80 per cent of the property price can be found by home loans, and its great alternative to finance someone’s dream home. But you should choose the home loan option carefully as it comes with certain limitations so you should try to minimize the cost and the risk of home loan. Before applying for home loan, as buyer you should check your credit score if you are loan defaulter and according to that you should apply for home loan. Most of the time banks and financial institutions provide hassle free borrowing and for that all you need to showcase your stable employment track record to make sure that you are able to pay the monthly installments.

As a buyer it’s your responsibility to select the type of interest such as; fixed or floating interest. The rate of interest plays an important role in the calculation of EMI and it also important for the financial planning of the buyer. In 90 per cent cases, latter is preferred as it is perceived to be cheaper.

PropTiger.com acquires Makaan.com

PropTiger.com realty portal, which is backed by News Corp through its own Singapore based firm Elara Technologies has recently acquired India’s leading online property listings platform which is Makaan.com. It offers perfect platform to end users and real estate investors for property listing as well as transactions in India.  Now this acquisition will bring the PropTiger.com and Makaan.com on the same online real estate platform to provide end-to-end services to those who are interested in property buying no matter they are property brokers, property agents, end users or investors, real estate developers, banks and even private equity investors.

In less than one month time its second acquisition by PropTiger.com as earlier it has acquired OoBI (Out of Box Interaction), which was Bangalore-based digital interaction design company. According to the Co-founder & CEO of Proptiger.com, Dhruv Agarwala, “In present we are working on business expansion and integration with a sole purpose to bring out synergies immediately, but for next few months we will operate both companies PropTiger.com and Makaan.com separately”.  However, at PropTiger.com our main strength is the end to end services for primary segment whereas; with Makaan.com, now we are able to develop the personal relation with more than 40,000 brokers in more than 50 major cities of country and it also has control over the secondary market in real estate sector.

In November, Rupert Murdoch’s News Corp, which is media baron had acquired about 25 per cent stake in Elara Technologies which is Singapore based company and it is the parent company of PropTiger.com, which is Noida based online real estate marketing platform with the valuation of $ 30 million or Rs 186 crore whereas; it has real valuation at $ 120 million, or Rs 744 crore. In this round of acquisition the existing investors such as; Horizen Ventures, SAIF Partners and Accel Partners had infused more than $ 7 million or Rs 43 crore into the company.

Housing.com buys online discussion forum IREF

Recently, a real estate portal Housing.com buys online discussion forum IREF (Indian Real Estate Forum) with a aim to provide and improve the content which can help the real estate investors and home buyers to make choices which and retain or attract the first time buyers in the retail real estate market.

This Mumbai-based real estate portal is financially backed by Japan’s SoftBank and after the deal it is expected that Housing.com will pay Rs 8 crore to acquire Indian Real Estate Forum that have a base of more than 1.5 lakh active users. Apart from that the first two acquisitions of company is expected to close in next one to two months.

In December 2014, Housing.com has  received a funding of about $ 90 million or Rs 560 crore from Japan’s SoftBank and after that they has set apart a corpus of Rs 200 crore for acquisitions. According to the officials of Housing.com, after the acquisition IREF will function  independently under the charge of Ravish Naresh who is a cofounder at Housing.com.

The forum is well known real estate platform for its unbiased and transparent project information’s, developers information’s, localities information’s, agents or brokers information’s, and plots information’s. According to officials of Housing.com we are in the last stage to acquire PropEquity and the deal is of Rs. 80 crore, but executive of PropEquity are saying that they have declined the deal.

While coming to desired changes in IREF, it is expected that there will be few changes in the section of IREF as Housing.com is planning to answer each and every query related to the builders, projects, brokers and agents. Whereas;, the Housing.com also planning to buy PropEquity, so that it can attract more and more business users as it is well known fact that PropEquity is a real estate data it its most of the clients are PE developers,investors and financial services who love to spot the market trends to generate the insights about real estate market.

Real estate investment

In present location issue is keeping the buyers away; but better ROI, an incentive, benefits of tax breaks are still attracting the investors as well as end users towards the real estate market. In India, affordable segment are finding buyers but most are investors not those who are planning to stay in those homes because of the location issue as the home is located too far away from offices and have little support infrastructure, analysts and trade experts said. Peoples are making the attempt to invest in real estate sector because government have increase the accessibility of housing through tax breaks and other incentives or benefits, which are therefore going towards those more interested in turning a profit.

Almost 50 per cent of the total housing stock of 293 million sq. ft sold in the last fiscal year, which was ended on March 2014 and the prices of those property was less than Rs.50 lakh, as per the data of real estate research firm Liases Foras. Flats which cost Rs.25-50 lakh accounted for 37 per cent of the total housing stock sold in the same period, while those below Rs.25 lakh had a 13 per cent share. Mumbai is the city which known for its high property prices as well as ROI, accounted for 13 per cent of the sale of houses priced below Rs.25 lakh and 28 per cent of houses in the Rs.25-50 lakh range. According to Pankaj Kapoor, The Managing Director of Liases Foras, “Most new launches in the last three quarters are in the affordable category”. The more he added that the rise in sales in part to state government regulations which have been favorable for both real estate developers and buyers in the relatively more affordable segment.

In December 2014, the Apex Bank (Reserve Bank of India) allowed real estate developers and housing finance companies to raise up-to $1 billion through external commercial borrowings to promote housing projects, which also referred to as low-cost because they are cheaper than more upscale properties. The budget of 2013, proposed a Rs.2.5 lakh deduction on the total taxable income on home loans of less than Rs.25 lakh, applicable to loans from banks and non-banking financial companies (NBFCs). Such housing projects are profitable business for real estate developers as in Mumbai, they provides an internal rate of return (IRR) of 45 per cent with gross margin of 24 per cent. According to report of Monitor Deloitte in 2010, a consulting firm, “Most of the flats are being bought by investors rather than genuine low-income end-users despite the low prices and interest rates, since these flats are being built in far-flung places with poor connectivity and social infrastructure, real estate and analysts”.

For example, If person buys such a home in Karjat, which is one of the last stops on Mumbai’s suburban Central line,  will have to travel about 85 km if his/her office is in the central business district of Nariman Point. That’s about two hours by train each way. According to Kapoor, “Trans Harbour Link have easy connectivity between the the mainland and the island city and provided a much-needed boost for affordable housing”. The Trans Harbour Link have 22 km road across the sea which will connect the island city and Navi Mumbai. It is expected that, Trans Harbour Link will be operational by 2018-19. Now investors are looking to it as excellent opportunity as it has connectivity and support of infrastructure. According to Om Ahuja, the chief executive, “Most projects are not affordable in terms of living and these projects are bought by investors who park their money. If it is a wrong product, their investment gets stuck”.

According to Brotin Banerjee, MD and CEO of  Tata Housing, “Tata Housing sells these homes under two different national banners; Shubh Griha (Rs.4-13 lakh) and New Haven (Rs.25-40 lakh). It plans to launch more affordable projects across different consumer segments in Mumbai, Bangalore, Gurgaon, Bhubaneswar and Kolkata.” VBHC (Value and Budget Housing Corp.), has many affordable housing projects, which are in Delhi, Chennai, Mumbai and two in Bangalore. It’s planning to launch one more in Delhi and Mumbai in the next few months, according to Vivin Mathew, chief executive, western region. On March 2014, GPL (Mumbai-based Godrej Properties Ltd), the realty arm of the Godrej group, launched an affordable housing scheme at its Godrej Garden City township project in Ahmedabad. In real estate market some of the real estate developers are using finance and marketing techniques to attract genuine home buyers or investors in the Rs.6-25 lakh range.

Poddar Developers Ltd, a Mumbai based real estate developer has 25 per cent of the apartments in one of its project to families availing loans from NBFCs such as Gruh Finance Ltd, Mahindra and Mahindra Financial Services Ltd and Muthoot Fincorp Ltd. NBFCs offer rates that are slightly higher than that of commercial banks, but have an easier documentation process, making it a better option for low-income borrowers. According to Rohit Poddar, MD of Poddar Developers Ltd., “We don’t sell more than one flat to a single buyer. We have a 75:25 mix of actual home buyers and investors”. In last two years, Poddar Developers has sold more than 2,500 apartments in Badlapur in Thane district and Karjat in Raigad district, in the range of Rs.3.5-12 lakh each. Recently they have launched the similar project at Atgaon in Thane and is planning 40,000 sq. ft of land by the end of this financial year.

According to Rashmi Housing Pvt. Ltd, “It’s also giving a loan to home buyers without interest to drum up interest in homes that cost below Rs.25 lakh. According to Yogesh Bosmiya, Director of Rashmi Housing, “Around 30 per cent of our home buyers or invetors they are availing this loan facility and we are mostly getting the end users”. Rashmi Housing Pvt. Ltd, said that they has sold more than 3,000 units in the Mira-Bhayander area of  Thane district since 1999 and is developing another 4,000 units in the same area. Bosmiya said the profit margin is 20-25 per cent. Whereas; some of the real estate developers are constructing the hospitals and schools to improve the existing public schools, to create social infrastructure in a bid to attract families.

Indian investors investing in US

Indian real estate market is lucrative for investment and attracting the investors, but now Indian investors are also investing in the US real estate market, which is emerging as an attractive investment destination. Indians are showing a lot of interest to buy properties in US, according to property consultant Jones Lang LaSalle (JLL)

As per the report published by the US National Association of Realtors, Indian buyers have purchased the residential properties in US, of worth $5.8 billion in last one year period ending March 2014. This investment magnitude recorded a growth of around 6 per cent over 2013. According to recent reports, Indians have spend $459,028 or Rs 2.81 crore on an average to buy properties in the cities of US such as; Las Vegas, Chicago, Dallas, Los Angeles and New York..

The most interesting finding is, that Indian High Net worth Individuals (HNIs), who have obtained American citizenship and are settled there have several reasons for investing in properties in US. Apart from the love of Indians to country, most of Indians who have become naturalized as US citizens have family interests and as well as they have their business in major American cities, as per the statement of JLL Chairman and Country Head Anuj Puri. He also added that after the steep post-Lehman downturn, several countless investors have been able to snap up properties in American cities at unbelievably low prices as these investments are seeing good ROI because now US real estate market is reviving.

The Reserve Bank of India (RBI), has recently increased the ceiling on outward remittances for those who are buying the overseas property under the (LRS) Liberalised Remittances Scheme to $1, 25,000 from $75,000. This enhanced investment limit is a small, but it’s an important window. For example, Now a married couple can together buy a small property in a US suburb only if they have the inclination to do so., whereas; earlier real estate as an option was entirely withdrawn from the LRS scheme and the limit purview, according to Puri.

Puri, further added that, since a few apartments in the US are currently held by institutional investors who had bought them during crisis from distressed sellers, so for foreign buyers it’s easy to deals with such institutions rather than with individual US house owners.

CREDAI in Nashik

CREDAI (Confederation of Real Estate Developers’ Association of India), is organizing Shelter 2014, which is 7th Property Expo. This event will bring all the properties of Nashik under one umbrella to encourage individuals to purchase a property of their decision on one stage. It is the event of four days, which will display residential as well as commercial properties at one place. This is the 7th release of Shelter as the biggest land display in north Maharashtra. The venue for event is Dongre Hostel ground in the city with the sum of 300 stalls and the timing is from 11am to 9pm. This event is attracting the end users, investors, real estate builders, agents and as well as financial institutions or banks for the mutual benefit.

According to the President of CREDAI Nashik, Jayesh Thakkar, “This 7th biennial show being held in the city by CREDAI, Nashik at one stop destination to showcase the properties over the city under one umbrella to help individuals hunting down their fantasy homes to get houses inside their financial plan and in the area of their decision. This will save their time as well as cash of purchasers. These safe houses have a sum of 300 stalls in which 180 have been booked by developers and engineers. The property ranges from Rs 15 lakh to Rs 2 crore”. Comparing to Mumbai, Pune and Thane, the rates of properties in Nashik are very reasonable, and this expo will be beneficial for those who are interested in buying homes or plots as here all the potential buyers or investors get the latest info about duplexes, house, flats, pent houses, row houses, non-agricultural plots, farm houses, bungalows, and agricultural lands. It is expected that in next few years CREDAI will organize Nashik property exhibition in all over the country and as well as abroad. The rates vary between 2,700 per Sq. Ft. & 6,000 per Sq.Ft. depending on the area. Naturally, there are comparatively lower in localities like Adgaon, Makhmalabad, Pathardi, Ambad and Satpur which is on the city outskirts. They begin rising as one moves to up-market areas like College Road, Mahatma Nagar & Gangapur Road.

The infrastructure in city is seeing a mammoth change & with an all round development, Nashik is set to soar. The added advantage of city is excellent water supply, good road & rail connectivity; soon city will get the air connectivity which will be boon of scenic beauty. According to reports, around 1,500 to 1,250 residential properties worth around Rs.300 Crore have been sold during the festive period this year, the real estate developers in Nashik are expecting good realty business during the event, “CREDAI Nashik Property Show 2014”. In past two years the gap between demand & supply has increased a lot in Nashik and no new projects is being launched. But it is expected that scenario will change for better sooner or later.

This expo is the best opportunity for prospective home buyers; here buyers will get the competitive rates and a lot of options. In short customers have the choice to buy affordable to luxurious apartments in different parts of the city. The rates are reasonable and good amenities are being offered.