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The real estate market of Pune is going steady and smooth if compared to other cities, where both residential and commercial property graph is going downwards. While everywhere the experts are expecting a doom in realty, Pune seems to be confronting the forecast. Perhaps, as Pune was never a mainstream real estate destination, it never saw a huge decline in realty prices. The slump was there in the city but it was only for a small period of time. There are various reasons why Pune has now emerged a preferred real estate destination.  As the IT industry drives the real estate demand in the city, first home sales constitute a major chunk of transactions happening in Pune. In this city, there is always a steady demand for property in Kalyani Nagar and Baner, which are close to two major IT hubs in the city. Besides the IT and BPO industry, the student population living outside their campuses are also responsible for fueling demand for housing in Pune. Renowned real estate developers in Pune are of a view that the Pune property prices are on the go for a sharp drop. But real estate agents and the local industry experts in the city don’t reckon that there will be any recession in Pune real estate industry at least in the next 10 years. And Pune real estate developers also assert that the demand is stable and exceeding supply.

At present, Pune real estate market is one of the most active segments in Western India. Private realty players as well as local property builders and civic authorities are pouring in more investments in the city.

According to the latest realty market reports, commercial realty in Pune fetches about 20-25% returns on investment. This makes the city the most favorite and a preferred destination of investors.

The residential property segment is equally upbeat at this point of time. The buzz has not only been made by the commercial real estate market of Pune but also by the residential realty market. In the residential front, the focus of real estate developers is on affordable housing. Major real estate developers like Kolte-Patil, Gera Properties have announced the launch of affordable housing projects in the city. These developers are plotting to build one-room set and two-room set accommodation that costs between Rs 10-15 lakh. Real estate developers in Pune are now also focusing on the bordering areas of Pune. The city centre boasts of high capital and rental values. Therefore, most of the buyers are now looking for affordable accommodation in the suburban and bordering areas. And, real estate developers are trying to cash in on this behaviour of the property seekers. Property in areas like Kothrud, Vanwadi, Oundh are high in demand. All these areas were earlier the extension of villages but are now they are the hub of property development.

 

Now, the residential real estate market of Pune is all set to reach newer heights. As per the industry estimates, the city needs nearly 40,000 residential properties every year to match the housing demands of its citizens.Considering that, the Maharashtra government has now given a green signal to private real estate players for setting up fully integrated townships in Pune, under the Public Private Participation (PPP) model.To cash-in on this opportunity, Pune-based developer, City Group has come forward with its township project ‘Amanora Park Town’, the first project after the government’s declaration. Under this project, the land would be provided to the developer by the government, who would then build up all the infrastructure comprising residential units and commercial properties. The developer will also be responsible for developing the social infrastructure encompassing healthcare centres, educational institutions, and entertainment facilities within the city. The Amanora Park Town would be developed in the area of about 400 acres at Hadapsar with all the aforementioned infrastructure and facilities.

According to the real estate agents, demand for medium budget residential properties in Pune is continuously increasing. Some other real estaet projects coming up in Pune:

 

The first step to annually appealing your property taxes is to send a written notice to the appraisal review board (ARB) for the county in which your home is located. Even if you have not received a notice of assessed value from the appraisal district, file a notice of appeal by May 31st.

You can file a notice of appeal by utilizing the Comptroller’s form or by sending a letter to the ARB. The letter to the ARB simply needs to identify the property being appealed and the basis for your appeal. You should always appeal on both market value and unequal appraisal.

Comparable sales are the cornerstone of a market value appeal for a home. Sources of comparable sales data can be found in the House Bill 201 package obtained from the appraisal district and MLS sites. To develop a market value appeal consider the following factors:

New-home discounts – Recently bought homes in subdivisions where builders are active, or near subdivisions where builders are still active, often sell for 5% to 15% less than their initial buy price. Researching data for recently sold homes sold by the initial owner (versus the builder) will document this discount.

Livable versus sellable – When preparing to sell a home, homeowners will be advised by their realtors to perform cosmetic upgrades. If your home has deferred maintenance problems (rotten wood, foundation problems, etc.) these would be vital factors to document when preparing for your property tax appeal hearing. Livable versus sellable for a two-year-ancient home – A discount may be appropriate for the cost to prepare a home for sale and for the differential for new homes versus slightly used homes (in areas where builders are still active).

Unequal appraisal is an effective tool in appealing property taxes annually to minimize your property taxes. Vital components of an unequal appraisal appeal include a reasonable number of comparable properties (about two to 10) that are appropriately adjusted. Comparable properties are usually considered to be properties that are similar in regard to the quality and quantity of improvements. For homes, you should focus on properties within the same subdivision, provided comparable properties are available within the subdivision. Prepare your own unequal appraisal analysis based on researching assessment comparables on the appraisal district’s web site. (An unequal appraisal analysis compares your assessed value to the value for nearby properties.)

Questions? E-mail O’Connor & Associates, or call 1-800-856-REAL.

Don’t pay more than your honest share of property taxes. Let O’Connor & Associates reduce your property tax. Oconnor & associates can represent you at the office Space Rent.

If compared to other cities, where both residential and commercial property graph is going downwards, Pune real estate is going steady. While industry experts have anticipated a major decline in the real estate values, Pune seems to be confronting the forecast. Probably because Pune was never a mainstream real estate destination, so, it never saw a huge drop in real estate prices. The slump was there but it was only for a small period of time. There are many reasons why Pune is now a preferred real estate destination.  As the IT industry drives the property demand in the city, first home sales form a major chunk of transactions happening in Pune. There is always a steady demand for property in areas like Kalyani Nagar and Baner, which are close by two major IT hubs in the city. Besides the IT and BPO industry, the student population living outside their campuses continue to fuel demand for housing in Pune. Renowned Pune real estate developers are of the view that the Pune property prices are on the go for a sharp drop. Pune real estate agents and the local industry experts don’t reckon that there will be any recession in Pune Real Estate industry at least in the next 10 years. And Pune real estate builders affirm that the demand is stable and outstripping supply.

Currently, Pune property market is one of the most active segments in Western India. Private property developers as well as local property builders and civic authorities are pouring in more investments in the city.

According to the market reports, commercial property in Pune fetches about 20-25% returns on investment. This makes Pune a favorite and a preferred destination of investors.

The residential property segment is equally buoyant It’s not only commercial property market in Pune, which has made all the buzz but also the residential property segment. These days, real estate developers in Pune are focusing on affordable houses. Prominent real estate builders like Kolte-Patil, Gera Properties have announced affordable housing project in the city. Their plot is to build one-room set and two-room set accommodation that costs between Rs 10-15 lakh. Real estate developers are now also focusing on the bordering areas of Pune. The city centre boasts of premium capital and rental values. So, most of the users are now looking for affordable accommodation in suburban and bordering areas. And, property builders are trying to cash in on this behaviour of the property seekers. Property in areas like Kothrud, Vanwadi, Oundh are very much in demand. These areas were earlier the extension of villages but are now the hub of property development.

 

Residential real estate at Pune is all set to shoot high. According to the industry estimates, Pune needs nearly 40,000 residential properties every year to meet the housing demands of its citizens.Keeping this in mind, the Maharashtra government has now given a green signal to private players for setting up fully integrated townships in Pune, under the Public Private Participation (PPP) model.To take advantage of this opportunity, Pune-based builders developer, City Group has come forward with its township project ‘Amanora Park Town’, the first one after the government’s declaration. Under the project, the government would be providing land to the developer, who would then build up all the infrastructure comprising residential units and commercial properties. The developer will also be responsible for erecting the social infrastructure encompassing healthcare centres, educational institutions, and entertainment facilities. Meanwhile, the Amanora Park Town would be spread in the area of about 400 acres at Hadapsar with all the abovementioned infrastructure and facilities.

As per the real estate agents, demand for medium budget residential properties in Pune is constantly increasing.

Demand for a house on rent in Pune is equally shared by employees as well as students, who come to pursue studies at this city flooded with brilliant educational institutions.Some other projects coming up in Pune:

 

Whether you’re a real estate agent trying to go some inert inventory, a homeowner trying to sell your house, or a landlord trying to fill your rental property, it’s hard to go real estate right now. Supply (your house and the fifteen others available on your street) is high, demand is low, so you need an edge over the competition. Without further ado, allow me to introduce your edge:
Trick 1: The Kitchen & Bathrooms are King
If you’re on a limited budget (HA!), you need to prioritize and spend your limited cash well. If you only have the money to improve two rooms in the house, make sure they’re the kitchen and master bathroom, because these are consistently the most vital rooms to buyers and tenants. People may ooh and aah over the new carpet in the living room, but the kitchen and bathrooms strike a more primal desire for cleanliness and comfort. Final note: if you don’t have any budget for improvement whatsoever, then at least make sure they’re spotlessly clean.
Trick 2: Don’t Forget the Exterior
What do people see first? The outside of the house, which means making sure the paint isn’t cracking, the exterior is in excellent condition, and the simplest thing to let slide, the landscaping is clean. Make sure the lawn is cut, the bushes are trimmed, and if you can, add additional touches like flowers or gardens. First impressions affect everything prospective tenants or buyers see afterward, so make a excellent first impression and ride it hard.
Trick 3: Stylish Bribery
Incentives, seller concessions, gimmicks, whatever you want to call them, need to stand out if they’re to have any effect whatsoever. Offering a seller concession makes small difference to a buyer; they’ll just subtract it from the price of the house and calculate a net price. So if you’re going to bribe your buyers or rental applicants, do it with style: a new flat screen TV, a shiny stainless steel appliance set, a Wusthof knife block, or anything that conveys a sense of status. People want to feel classy, so send the message that if they buy your house or go into your rental, they’ll suddenly become upper crust.
Trick 4: Sell Them on the Neighborhood
A gorgeous villa on a slum block is still a slum property, period. So if your rental property or home is in an area where people may have a reservation or two about moving, you need to sell them on more than just your house; you need to sell the neighborhood. This is not as hard as it sounds, if you know the neighborhood well. The trick is generate excitement, so tell them all about the quirky small café down the street that makes an authentic Italian café breve, and the bakery on the corner that fills the block with the smell of chocolate croissants. It’s the details that sell neighborhoods, so fill their head with perfect images of neighborhood charm, and they’ll be all over your property.
Selling your home or filling your rental is harder than ever before right now, so get aggressive, and with the right combination of attention and finesse you can sell or rent anything.

Of all the various markets that have been hit by the recession, few have been as really and utterly decimated as the property and mortgage markets. Of course, with the benefit of hindsight and intense scrutiny by everyone from politicians to journalists to local shopkeepers as to the reasons for the economic collapse, it is far from a new theory to suggest that it was the unrealistic borrowing and lending in relation to, particularly, the property and mortgage markets that led to the recession. Broadly speaking, that can be taken as simple fact. But, whilst many are still debating the nuances of the economic collapse we experienced the rest of us have simply picked ourselves up and tried to cope with it as best we can. The excellent news is that, according to many in the property and mortgage industries, the first signs are recovery are now in sight. Although the recession is far from over – and the effects of it will certainly be felt for many years to come – there are some particular indications and trends in the housing market that show promising things, and some argue that one of these indications is the increase in renting. Whilst certain studies that have been recently published show that there is still plenty of interest in buying houses – viewing figures, for example, are increasing at a steady pace – it is no longer the buyer’s market it once was. This is generally because there is still a vast deficiency in mortgage credit, which in turn means far less sales. As a result of this many more properties are being place on the market for rent. London, which is often a reliable indicator of what is happening in other cities around the country, has seen an increase of one hundred and twenty eight percent (128%) in owners who are renting out their homes. For those unable to sell, letting out a house at least provides an income whilst the housing market takes its time to get back on its feet. One of the consequences of this increase in property available to rent means that rents have gone down nearly across the board. The implications of this can be seen on a top property website, which has shown that the average amount in weekly rents in London can be seen to have steadily decreased over thirteen months, with each month showing a lower average than before. Whilst this is fantastic news for renters wanting to negotiate a lower price with landlords, some economists say that this increase in rental property does not necessary mean that such activity levels will help to stabilise the house prices in the coming months. Unfortunately, a mixture of high unemployment levels and reluctance on behalf of buyers to buy property seem to back up this notion. Other economists, but, are more positive and insist there are signs to show improvement. There have been, for example, steady rises in the number of house buy loans approved since the end of winter, and, equally importantly, a number of banks are beginning to boost the mortgage market with new ranges of mortgages. The increase in renting, on the other hand, means small to most in the property market except for the fact that the journey back to the heights loved just over a ago by the property and mortgage markets is going to be a very slow and arduous one. This article is free to republish provided the authors resource box below remains intact.

Sometimes the process of locating a private property to buy or rent is very frustrating. There are 2 mediums that I always depend on to look for my ideal property and they are the Internet and newspaper. If you want to successfully locate your ideal private property, you need to effectively make use of both Internet and newspaper. But, Internet is slowly becoming the better choice to look for property when compared to newspaper.
Nowadays, searching for information on the Internet is so simple due to the wonderful search technology provided by Google. If you are looking for property, there are tons of property listing directories and information available on the Internet.
Although searching for a property through newspaper is still useful and sometime effective, it is a very time-consuming process. You have to read through many pages of listing and sort them out yourself. Then you still need to call up the agent one by one and arrange an appointment to view the property. With online property listing, you can browse through hundreds of listing easily and have all the necessary information including pictures in a single listing page. Once you find the one you like, you can contact the agent directly through the listing and he or she will call you back.
Moreover, newspapers usually update their property listings weekly when compared to daily updates by some of the more well loved online property directories. With this, if there is a deal happening in the meanwhile, you will not miss out on it.
To find some useful and well loved property directories, you can go to Google and type in “property directories” or “property listings” in the search query box. You can also choose to add the name of a city or country at the back of the query like this: “property directories Singapore”, so as to make Google returns a more relevant search result based on your preference. Listings on the Internet are updated everyday which ensures that you will not miss out on the latest deals available.
So, if you are currently only using newspaper to source out for your ideal property, give Internet a try and see the difference it makes to your sourcing process. Furthermore, with Internet listings, you will not need to go through all the different property listings. You can just use the site’s internal search function to locate a property either by its address or target area. This will really help quicken your sourcing process.
Once you have found your ideal property, call the agent by getting his or her phone number directly from the website. Then, print out the listing to take note of the address and you are ready to go shopping. How simple can it get?

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Do you want to have your own property in a prime location of India and which must be away from the hassles of metropolitan cities? If yes, then you are most welcome to buy or rent properties in Faridabad that is a NCR city.

Faridabad is most commonly known for its base of industries, but it is emerging out to be one of the hottest property destinations in the NCR as well. It is one of the emerging cities of India that is why properties are selling at a quick speed.  Last one year has also seen it emerge as the favorite destination of property investors

Due to affordable property in Faridabad and simple availability, the real estate of the region is booming. Proximity to Delhi and Gurgaon has also raised the value of properties in Faridabad among working professionals, and the corporate world has also shown interest in Faridabad real estate.

As the research reveals, Faridabad is going to be a most happening city in NCR region so, the asset’s prices and rents of property are gradually on the rise. It is a suitable time to invest in properties of Faridabad because; the prices are constantly rising.

Residential properties, rental properties in Faridabad; real estate or commercial properties in Faridabad are the perfect place to invest. Asides these, the construction quality of real estates in Faridabad are also very excellent. Residential Projects like ‘The Forest’ by Omaxe Real Estate Developers is a prime example of posh residential development in Faridabad.

If you are keen to invest in properties in Faridabad, then you can search through Internet for finding world class builders, constructors, promoters, real estate agents and brokers for availing you the ultimate real estate solution and best property deals at affordable rate. According to a report, because of affordable housing projects one can witness huge absorption of the same.

Also With the approval of metro linkage to Faridabad from Badarpur and the building up of Taj Expressway, the connectivity of the area will certainly improve and it is going to be one of the most affordable and preferable destinations in near future. Another highway is plotted which will start from Kalindi Kunj, run parallel to Mathura Road, and bypass the city.

Residential real estate values have increased in the posh sectors of Faridabad especially Sector 14, 15, 16, and 17, in the range of 20-40 per cent in the last ten months, according to reports. For instance, the residential plot capital values in Sector 14 have increased from Rs 25,000 per sq. ft, in May 2007 to Rs 35,000/sq yard in February 2008.

Brokers attribute the increase in these values to the fact that the occupancy levels are high at 70-80 per cent and these sectors are buoyant with many transactions in real estate happening, and the values increasing at regular intervals. Plus these areas are better provided with infrastructure facilities like water, electricity, drainage, sewerage etc as compared to other sectors. Co-operative Group Housing Society (CGHS) values have been more or less stable in Faridabad from August 2007 to February 2008 with the average apartment capital values being in the range of Rs 2600 – Rs 3600/ sq ft. These CGHS allotted apartments and are under various phases of construction. Values are expected to rise after completion of construction, once these are ready for possession within a year. Property values have been stable at Sector 55, 64 and 65 with the average plot capital values being in the range of Rs 15,000 – Rs 20,000/ sq yard. These all are HUDA sectors where development is very high.

Rental values have increased marginally in the last ten months but there has been no significant transformation. Rental values are more or less same in the previous months and fall in the range of Rs 7,000- 12,000. This is because most of the people are renting residential apartments and plots rather then taking home

The city has been targeted by some well-known developers like Omaxe, BPTP, Ansal, Uppal, API, and DLF Group, who are coming up with commercial office space in Faridabad. Ansal ‘Crown Plaza Mall’ located in Sector 15 is a well loved shopping mall. It houses PVR Cinemas and has multiple-brand showrooms.

The capital prices of residential and commercial properties in prime areas have reportedly gone up by 25 per cent in the past 18 months, although the same have been stabilizing for quite some time now. Owing to incredible growth in Indian economy; economic development, infrastructure, foreign investments and related business opportunities concerning real estate in India is experiencing the roar.

This boom in real estate is further built up by the relaxation of FDI in various sectors that include real estate, construction sector and also retail which has unlocked the doors for the commercial real estate sector in Faridabad.

Apart from manufacturing industries, BPO and ITes companies have found a niche in Faridabad. Property in Faridabad offers manifold business opportunities. There are about 15000 small, medium and large industries in this complex providing direct and indirect employment to nearly half a million people. The combined turnover is estimated to Rs1500 billions in Faridabad itself.

Nothing could be better than renting commercial property in Faridabad. Not only one of the main and highly established cities of Haryana, Faridabad is also one of the most developed cities in the NCR of Delhi. Commercial scenario in Faridabad has developed at a unbelievable rate and is still on the moving ahead.

There are a lot of Commercial projects that are under progress in Faridabad. Local as well as national realtors are investing in the commercial property in Faridabad. These commercial projects are as huge and as elegant as the residential projects that are coming in the city. There are many shopping arcades and malls, which are functional now and many are in the pipeline. All this makes Faridabad, a city with unbeatable style of living and also a very favorable destination for buying a property.

Faridabad always had the potential of being an vital centre for real estate activity and with so many attractive residential and commercial projects coming up; it is soon going to be one of the most promising investment destinations of India.

There has been no secret made of the fact that UK house prices have risen over recent years, and many home owners have benefited significantly from this. The rise in home values has meant many people have been able to free up cash tied up in their properties whilst sill owning a significant amount of equity to make them comfortable with this. Combined with the relatively low interest rates this has been a dream come right for home owners. The boom has even meant record numbers of people borrowing against their homes to lay down deposits against holiday homes or buy-to-let properties, gaining doubly from the rising market, and having the effect of further fuelling price increases.
Although industry experts don’t seem to be able to choose whether the boom is over or not, and the case can be argued differently depending upon different geographical areas. It would certainly appear that over the last 12 months or so, the growth has in general slowed.
Whilst the boom may have been the best thing that has ever happened financially for existing homeowners and those lucky enough to have bought first and second homes at the right times, it is not so excellent news for first time buyers. The overall increase in prices has not only increased the average house price in the UK significantly, but it has dragged the bottom end of the market in particular to new heights making that first step on to the property ladder as hard as ever for first time buyers. The burden is especially hard for University Graduates who not only face the likelihood of having to go towards the cities to find the right sort of employment, meaning that in many cases they can’t even seek the solstice of a family home for a while whilst they find their feet, they are carrying the millstone of student debt around their necks whilst they do so.
The above statements, I believe are a honest summary of the state of the UK housing market and the problems faced particularly with first time buyers today, but let’s now analyse the facts to see where people really stand in 2007.
Year Average Salary Average Salary
(Population) (22-29)
1997 £16,250.00 £14,336.40
1998 £16,842.80 £16,286.40
1999 £17,503.20 £17,071.60
2000 £18,189.60 £17,799.60
2001 £19,182.80 £19,026.80
2002 £20,004.40 £19,827.60
2003 £20,467.20 £20,098.00
2004 £21,507.20 £18,652.40
2005 £21,985.60 £18,834.40
2006 £22,926.80 £19,224.40
Year Average House Multiple Multiple
Price (Population) (22-29)
1997 £78,199.00 4.81 5.45
1998 £84,396.25 5.01 5.18
1999 £93,609.00 5.35 5.48
2000 £106,960.00 5.88 6.01
2001 £118,604.50 6.18 6.23
2002 £136,635.25 6.83 6.89
2003 £155,226.25 7.58 7.72
2004 £178,136.25 8.28 9.55
2005 £188,565.75 8.58 10.01
2006 £192,831.33 8.41 10.03
Source:
Average salary figures taken from www.statistics.gov.uk
Average house price figures 1997-2005 taken from www.proviser.com and 2006 figures from www.communities.gov.uk (figures are averages of all completed sales during the stated time period).
In 1997 the average house price in the UK was just over £78,000 with an average salary of £16,250 for the general population, and £14,336 for 22-29 year olds – typical first time buyers. The average house price in 1997 was therefore 4.81 times the national average salary and 5.45 times the average salary of a 22-29 year ancient. A 10% deposit for a 22-29 year ancient on the average salary buying an average house in the UK would have represented 54.5% of a year’s yucky pay. Although clearly a struggle, the prospects of couples in particular finding their way onto the housing market was excellent.
Looking at the same comparison for 2006, the average UK house prices was just under £193,000 – an increase in 10 years of 147%. The average salary for the UK population had also increase to just under £23,000, and increase of 41% and to just over £19,000 for our 22-29 year ancient demographic – an increase of 34%. Incredibly, the average house price in 2006 was 8.41 times the average salary of the UK population, and over 10 times the average salary for our 22-29 year olds. A 10% deposit now represents nearly exactly one whole year’s salary on average.
These figures clearly demonstrate that the lifestyle and expectations of the UK population has had change forced upon it. Being able to afford a house on a graduate salary straight out of University is a pipedream only possible for the very luck few.
Where does this lead everybody else?
One of the catalysts behind the increase in prices in the housing market as previously mentioned is the increasing number of ‘buy-to-let’ properties bought by those lucky enough to see the values of their own properties increase. It would seem logical that the rental demand for these properties has also increased as the would be first time buyers can now in general only afford to rent and often to seek out suitable housemates to share their rented house or flat with.
A excellent source of housemates can be found at sites such as www.abodewithme.com which has grown as an aide to home seekers who in today’s economy simply cannot afford the luxury of their own place.
Another option for would be ‘first time buyers’ is to get on the property ladder by purchasing part of a property. At least in paying a mortgage instead of rent, even though a property is not entirely in an individuals name, will at least allow them to benefit from any further rises in the property market, leaving them lagging further behind in their rental properties.
There are several ways of purchasing part of a property and renting the other part with an option to buy in the future, although these such arrangements often mean paying a mortgage and rent, which will cost nearly as much as a mortgage to cover the full value of the property.
I read recently of a leading high street bank offering joint tenancy mortgages for up to four applicants. This means it is possible to buy a property with three others all contributing their earnings towards the total borrowing, and each taking an agreed share of the value – and the increase in value of the property. This seems incredible, given that most of us find it hard enough finding one person that we are pleased to make the commitment of marriage to, and as they say, marriages are simpler to get out of than mortgages.
Again, it raises the question as to how to find suitable candidates that you would be willing to take the plunge of buying a property with. Some people will be lucky enough to have long standing friendships, or perhaps relatives, brothers, sisters, etc., who are also looking to get onto the property ladder but cannot afford to do so alone. Small of this, highly recommended would be a website such as who has profiles of all sorts of people with varying budgets, all over the UK, and equally as importantly wanting to enter into the same type of partnerships.
Regardless of the route that individuals choose to take, whether to rent or buy, the state of the property market compared to average salaries as we have seen means more and more people will be living in house shares for many, many years.
If you want to find out more about candidates looking for house or flat share companions, please visit .