It is common knowledge that the earliest civilisations sprang up by the rivers; a phenomenon noticed the world over irrespective of geographical locations. As opposed to the proximity and availability of the precious resource in older times, living next to a water source today has more to do with aesthetics than resource availability.
Pushkara, the latest offering from MARG, takes the luxury elements of a waterfront lifestyle to discerning property buyers in Chennai. It is ideally located at Kazhipattur, a mere 2 kms from the Siruseri Sipcot IT park, overlooking the tranquil waters of the Muttukadu lake.
The project has been envisaged to offer Chennaites luxury living at an affordable price point. Keeping the natural balance in mind, 30 per cent of the 3.84 acres has been crafted into one, two and three bedroom apartments with prices ranging from 21.6 lacs to 56 lacs.
True to its name, the vaastu compliant apartment complex brings out the beauty of the blue lotus, in its natural surroundings. The prime feature of the Pushkara development is the deck, ideal for the family to unwind and relax, with its pergola, swings, amphitheatre, gardens and barbeque corner all overlooking the lake.
Pushkara is located a short drive away from all the amenities that a family needs; eight schools, twenty colleges and four hospitals lie within a 30 minute drive radius. The project comes with the regular strengths of a MARG development; back-up power in the common areas and utilities, preferred tie ups with banks, a club house and gym, 24/7 security, a swimming pool and landscaped gardens.
The complete details of the Pushkara project are available here.
We are now having a look at why PROPERTY INVESTMENT can be a GOOD OPPORTUNITY for the NRI.
The generally liberal policies of the Government have been very helpful for the NRI investor subject to the compliance of FEMA.
That there is no restriction on the number of properties they can purchase in India is a great advantage.
Besides, they do not require the RBI permission as is wanted in several other spheres.
Banks have been willing contributors to the NRI’s who wanted to add such an asset treating them on par with Resident Indians.
Payments for purchase can be made through funds remitted from abroad or out of balances in their NRE NRO FCNR accounts.
In case of the NRI’s inability to travel to India in the course of a sale, the facility of Power of Attorney given to a close relative is very helpful.
Stamp duty and Registrations processes are quite easy to understand and friendly.
Loan Repayments are permissible from in he NRI’s FCNR / NRO / or NRE a/c or a relative can be deputed to repay the same.
The Rental advantage is always there in that the rental returns have been steady and worthwhile.
Investment in India makes sense because of a disciplined stock market and its professional regulation.
The feel-good feeling given by the Indian economy is a shawl of security.
Stabilization of markets , earlier on , have been helpful to the cause of providing trust.
The proposed single window investment promotion council planned by the Government looks a good promise to remove the red tape.
To an NRI, a base in the homeland is an added security.
The revision in investor laws has allowed a surge of investment.
NRI‘s can set up family trusts abroad for education of his children/ maintenance of his family members. Such trusts can also be Asset Protection Trusts( including property ) where the assets held by the trust are free from attachment by the creditors.
Compared to times by-gone where the NRI was confronted from the Local Panchayat /Municipal /Corporation levels and was struggling to set foothold with property laws,income tax laws,wealth tax issues, succession legislation,land ceilings and others times have changed to welcoming the NRI’s with a red carpet and they in turn giving such an extraordinary response.
And lastly, the depreciating Indian Rupee has proved a great advantage in that the NRI gets “so much more for less”.
After a long hiatus, the scenario at the Indian Real Estate sector has slowly started to liven up. The real estate sector in India has been struggling to make an impact with the people for quite some time now after a year long period of stagnation and declining transactional activity. However, in recent months, there has been noticeable development in the real estate front. Things are looking positive in the realty market as both property investors and property developers are coming out in numbers to revive the industry.
Simultaneously, the demand for housing and commercial space in India among the NRI’s is on the rise. The growing consumer demands has made the real estate builders think fresh and innovatively. The real estate developers are working hard towards meeting the expectations of the NRI’s who return to India for settling down. They are taking into consideration their tastes and upgrading the trends for the year 2012 so as to cater to the needs of all the classes by creating global standards of living at an affordable pricing.
The Real Estate trends that will be most sought-after by NRI home buyers in the coming year 2012 will be as follows:
• NRI home buyers are going to be thinking long-term as they basically looking to settle down here. It must be noted that NRI’s home buyers are thinking advance for the 1st time in a decade ie; homeowners are simply planning on staying longer.
• Markets reveal that the prices will drop. Foreclosures increase will visible anywhere between 7-10%. Pricing competitively, yet in a reasonable manner will make the customer to take notice of the property over the gazillion other choices existing in the market.
• It is common knowledge that no matter how low the mortgage rates are, they are bound to increase over a period of time. In order for governments to recover from their own debt loads, rates will eventually start to rise up. Long term rates are expected to rise sometime around mid to late 2012. However, keeping the mortgage rates low will help both the property seller and the home buyer.
• All new construction concerns need to be as early as possible. The most common issue being housing shortages has been an impending issue since early 2011. This needs to be given due attention so as NRI’s don’t feel the pinch or any hardships while looking for a suitable luxury apartment in the coming year.
MARG Ltd., one of India’s leading infrastructure companies, made a lasting impression at the EPC World 2011 Awards by winning the esteemed award for its exceptional contribution towards the development of port sector projects. The award ceremony was a grand affair held at Bangalore and was attended by the elite in the industry.
EPC World Awards is considered as one of India’s first recognition awards for industries, which recognizes and rewards the companies and individuals who have performed exceptionally well towards national development and outwitting competition from all around the globe.
GRK Reddy, Chairman and Managing Director, MARG Group, while speaking on the occasion quoted, “With over two decades, MARG Group has a built a reputation of reliability and quality in the infrastructure space across the country. With technological innovation as a focus, MARG’s EPC division brings in the best of technology and knowledge partners for all our projects and is a major driver towards our goal to be a billion dollar company by 2014. MARG’s domain expertise in port, marine infrastructure, industrial EPC and other infrastructure projects will add value for the successful completion and on-time delivery of the project. This award reaffirms our faith in the pioneering spirit that inspires us to create inclusive and sustainable infrastructure projects that benefit the society as a whole.”
MARG EPC has had the coveted opportunity of building MARG Karaikal port, today considered as one of the finest private sector ports in the country. Master Planning, Engineering, Design, On and Off shore construction, Project Management and Value Engineering has completely transformed the landscape of marine architecture.
MARG Group, it must be noted, is currently one of the top-ranked real-estate houses in the country with offices spread across India, Singapore and China. Their projects are estimated to be of net worth than Rs. 3000 crores under execution with global partners in the Infra space. MARG’s businesses are structured under 4 specific business divisions – Marine Infrastructure & Services, Urban & Industrial Infrastructure, EPC and Real Estate.
Consolidating on the MoU signed for developing of the Bellary and Bijapur airports, real estate developer MARG has entered into another MoU in Karnataka, this time with the State Government to develop and operate several infrastructural projects in agriculture, agri-industry and rural infrastructural domains totalling an investment of Rs 40 billion spread over the next 5 – 7 years.
The Global Agri-businesses and Food Processing Summit 2011 which witnessed the signing of this MoU seeks to extend urban amenities to the rural areas of the state and also foray into the cold storage, supply chain management and warehouses according to MARG’s report filed with the stock exchanges.
Land , water, pipelines, roads, power at prevailing rates will be the chip in contributions of the Governement of Karnataka as per existing Government policies, once the formalities for this is approved and processes set in motion.
The implementation and investment plan scheduling the commencement of commercial production by MARG will open up employment and job opportunities fulfilling promises made by the Karnataka Industrial Policy 2009-2012 and will in addition help in the procurement of components and raw materials thereby benefiting local vendors.
The markets have welcomed the above developments and showed its appreciation in the 1.05% increase to end the day at Rs.81.70 at the Bombay Stock Exchange.
