OMR the IT corridor of Chennai is home to several prestigious residential projects including MARG’s Savithanjali. Extending from Madhya Kailash to Siruseri the entire OMR stretch has witnessed the most amazing growth in the last few years.
Near Kelambakkam on OMR Marg’s tech smart homes bring you technology on a platter. Whether inside your apartment or outside in the premises these tech homes make life simple, easy and enjoyable for you.
Features such as security access control for intruder prevention, common area lighting sensors, CCTV stationed at 12 strategic spots, STP monitoring system to keep the environment clean, Boom Barrier Entry Gate to manage vehicular entry not only make life safe but also organized thus saving you time and stress.
CCTV’s to monitor kids, Washbasin Mirror Light Sensor to keep tabs on the electricity bill, burglar alarm proof main doors, Full Premises Intercom, Main Door Sensor, round-the-clock entertainment with 3-DTH Connection are only some of the many comforts that you will enjoy inside aMARG home.
These technology smart homes make living at MARG SAVITHANJALI safe, and pleasant!
The Union Budget for the year 2011, especially in housing sector, the focus is clearly on the affordable and rural segment. In order to enable easier availability of housing loans for the affordable segment, the Government has proposed to create Mortgage Risk Guarantee Fund under Rajiv Awas Yojana scheme which provides guarantee for the loan taken by the Economically Weaker Section (EWS) and Lower Income Group (LIG). For rural housing, allocation of approximately INR 3,000 crores has been made to enable targeted groups in the rural areas to avail housing finance.
The Union Budget has taken cognizance of the growth potential in the residential sector especially in the priority sector and has announced a laudable interest subvention. The budget has redefined the priority housing sector to include property up to Rs. 25 lakhs in urban areas and Rs. 15 lakhs in rural areas granting such properties. This is expected to increase the development momentum in such locations. This will have a positive impact in the smaller towns as well as the distant suburbs of the major metros, and may possibly prompt some of the larger developers and funds to enter these segments. Furthermore, the Budget has also indicated an investment linked deduction to businesses which develop affordable housing under a notified scheme.
Urban India Relying Less on Bank Finance for Housing Needs
Only 25% of urban Indians have used bank finance to invest in a house, government data released on Monday showed. Instead, over 61% of the cost of houses built by families across urban India was financed by themselves. This means India is quite removed from the build-up of sub-prime lending bubble as of now. The figures from the National Sample Survey Organization’s report on Housing Conditions and Amenities in India for the 2008-09 are startling. They confirm the anecdotal evidence of the boom in construction of residential properties in Indian towns unaffected by the changes in the rates of interest for housing loans from banks and housing finance companies.
Developers Worried Over Higher Construction Costs and Low Margins
While higher land prices and raw material costs could put profitability of companies under pressure, a steep rise in borrowing costs is likely to hurt demand. The BSE Realty index fell 11 per cent over the last month and eight per cent over the week as real estate companies reported margin pressures in the September quarter. To add to the problems, the Reserve Bank of India (RBI) toughened stance on rising asset prices. Also, doubts are being expressed about a pick-up in volume due to high prices. “A drop in volumes due to high prices could lead to working capital issues for some players”, said an analyst. The RBI’s measures – lowering the loan to value ratio and higher provisioning for luxury home and teaser loans –are likely to have a minor impact, say analysts. The sector also faces spiraling costs, which have dented the profitability of India’s largest listed players.
Mumbai 4th Most Expensive Office Space Rental Market in World
Mumbai, India’s business capital, has been ranked as the fourth most expensive market in terms of office space rentals in the world by global real estate consultant CB Richard Ellis. New Delhi is placed at the 11th spot in the list, which is topped by London (West End), according to CBRE’s semi-annual Global Office Rents survey.
The Southwest Journal has a nice article about transforming real estate…
Now is not considered a good time to be either a real estate agent or a general contractor. Samantha Strong is both. But despite the continued weakness in
the housing sector, she’s not worried about that fate of her company, Metamorphosis.
As a matter of fact the company, located in the CARAG neighborhood of Uptown, is doing better than ever. Over the past year, it has grown from a one-woman shop to a four-person company and landed Strong occasional guest spots on Minnesota Public Radio, thanks to a unique business model that combines all aspects of the housing business, including real estate services, eco-friendly remodeling and leasing.
After buying her first house at 24, Strong found herself in need of a second job in order to make ends meet. She found work at Home Depot, where she learned “a heck of a lot about how to fix up my own house, and a heck of a lot about how to destroy it.” It was there she learned how much she enjoyed learning about how housing worked, and she found full-time work in the industry working for a remodeling company that specialized in high-end floors.
Here’s a quick roundup of what’s new in real estate business…
Realty cos will now be charged for extra FSI
The local bodies can now charge a fee for granting additional floor space index (FSI), as Maharashtra government has amended the State Regional Town Planning Act (MRTP). The amendment will be implemented with retrospective effect from January 11, 1966, the day MRTP Act came into being, to validate all levies collected in the past four decades, an official from Urban Development Department said. The FSI is the ratio of the total permissible built-up area to the size of the plot it is constructed on.
Homeowners doubt these days of the future home values due to which they plan to put their home up for sale if they see the same conditions prevailing in next six months too.
According to a survey, 33% people believed that home values in their housing market are still above the bottom line while 38% believe that they have already reached a bottom.
28% homeowners expect a decrease in home values in the next six months. However, 30% of them are expecting an increase in their local market.
Interest subvention offer on luxe realty projects comes with riders
MUMBAI: The recent offer by many realty developers for luxury projects that involve 10% upfront payment and interest subvention until possession, has a rider, which may burden a buyer with higher-than-expected liabilities. In the event of a default by developers to pay interest to banks, buyers will have to make good the interest payment that developers had promised to subsidise until the possession of property.
In India, it seems like real estate companies are following a different trend for compensating their top management. During 2009, many company CEOs took massive pay hikes, but now they have chosen to either forego their hikes, or at least take modest ones this year, when the sector is doing much better
