AMIGO CASA Apartments Area Range 1230 - 1620 sq.ft., Located in Rammurthi Nagar, Bangalore available with 2BHK Apartments and 3BHK Apartments.
Description:
AMIGO CASA planned to be compact for judicious space utilization and yet open ebough to allow maximum fresh air and ventilation. The flats are designed like independent houses with three sides open and no common walls. Also, care is taken to present the best view of the landscaped gardens and the surrounding panoramas.
Here is an atmosphere which ensures that my world will always remain as peaceful, secure and private as on the day I found it.
This is the gift of a lifetime. This is the lifestyle I've dreamt of all my life. This is eliteness personfied and this is my abode.
Difficult times ahead for Realtors
There has been attention grabbing double page ad spreads by real estate developers in newspapers, aggressively marketing their new projects. With large advertising budgets, real estate companies are going all out to reach out to potential buyers through billboards, newspapers and real estate websites to announce their latest offerings.
Indrajit Sen, CEO, Laqshya Media, opined that the realty sector has contributed Rs.150 crore in HI of 2010, with 80 per cent of spends concentrated in the top nine metros. "The real estate industry is one of the biggest advertisers. Earlier, marketing efforts were primarily aimed at engaging prospective buyers for projects; now the focus is on brand enhancement, reinforcing consumer confidence and to stand out from the clutter.
Developers like Indiabulls and Lodha developers have created a buzz in the market with their 10:90 finance scheme offers. As a part of this offer, developers offer buyers the booking of a house by making a down payment of 1 0 per cent of cost and the remaining 90 per cent on possession of the house. The response to this offer has been phenomenal. Both Indiabulls and Lodha have been flooded with queries and have managed to garner quick sales.
Developers are certainly up for some difficult times going ahead. Most of the developers in Mumbai have launched premium residential projects in anticipation of boosting their margins. However, these projects have not been able to generate enough buyers. Critics have expressed their apprehension about a slew of projects being launched in a short span of time. More so since a large number of projects are confined to a much smaller spread.
Oversupply scenario As per an estimate, around 7,000 high end apartments (Rs.5-15 crore) are likely to hit the small stretch of Worli, Lower Plarel and Prabhadevi in the next two to three years. Most of these properties are coming up in Central Mumbai's mill lands, where a small piece ofland can command exorbitant rates. Pranay Vakil, Chairman, Knight Frank, who believes that often developers go overboard and add to the supply side with such products that have limited buyers, says that we see an oversupply kind of scenario once these properties come into market over a period of two to three years.
Most of these developments are of a similar nature and confined to a particular location. Such an approach may lead them to a tough situation where we may see some level of desperation, he adds. There are others who believe that developers who purchased these land parcels in the erstwhile textile hub of central Mumbai are recently forced to build premium properties on these land pieces in order to justify the high prices at which these lands were purchased in the past. In fact, most of these lands were originally purchased at high prices for development of commercial properties.
However, since the market for commercial real estate is facing severe over supply, these developers have no option but to build these high-end properties in the residential market. Ramesh Jogani, CEO, IndiaRelt, who point out how the glut of supply of commercial properties in recent times has taken toll on the market dynamics in the commercial capital, said that a big chunk of development in this location is coming up out of default. Everybody is jumping on to the bandwagon and this in no way augurs well for the overall market. Developers of these commercial properties are under severe pressure on account of weak offtake.
A property exhibition in Mumbai by the Maharashtra Chamber of Housing Industry saw a weak response from prospective buyers as more than 60 per cent of the properties exhibited at the venue were priced in excess of Rs. 70 lakh. Experts feel that unless the builders come up with the right kind of properties, considering market dynamics, they may not evoke enough demand. Residential property prices that have gone up by more than 15 per cent in the last six months are likely to see some correction in the future and it is only then that we may see movement in transactions - which has declined by over 30 per cent.
Buying a house is likely to be a costly affair. The government has cancelled sops for land developers, when they enter into an agreement with land owner. The stamps and registration department imposes 1 % stamp duty on the joint development agreement [JDA] and power of attorney [POA] entered between land owner and developer. Owing to huge revenue loss and pilferage, the JDA was withdrawn from the Stamps Act. This means, any agreement entered between land owner and developer will ensure payment of 6% stamp duty under the sale agreement. Once this amendment is introduced the developers are sure to pass on the burden to consumers.
There has been attention grabbing double page ad spreads by real estate developers in newspapers, aggressively marketing their new projects. With large advertising budgets, real estate companies are going all out to reach out to potential buyers through billboards, newspapers and real estate websites to announce their latest offerings.
Indrajit Sen, CEO, Laqshya Media, opined that the realty sector has contributed Rs.150 crore in HI of 2010, with 80 per cent of spends concentrated in the top nine metros. "The real estate industry is one of the biggest advertisers. Earlier, marketing efforts were primarily aimed at engaging prospective buyers for projects; now the focus is on brand enhancement, reinforcing consumer confidence and to stand out from the clutter.
Developers like Indiabulls and Lodha developers have created a buzz in the market with their 10:90 finance scheme offers. As a part of this offer, developers offer buyers the booking of a house by making a down payment of 1 0 per cent of cost and the remaining 90 per cent on possession of the house. The response to this offer has been phenomenal. Both Indiabulls and Lodha have been flooded with queries and have managed to garner quick sales.
Developers are certainly up for some difficult times going ahead. Most of the developers in Mumbai have launched premium residential projects in anticipation of boosting their margins. However, these projects have not been able to generate enough buyers. Critics have expressed their apprehension about a slew of projects being launched in a short span of time. More so since a large number of projects are confined to a much smaller spread.
Oversupply scenario As per an estimate, around 7,000 high end apartments (Rs.5-15 crore) are likely to hit the small stretch of Worli, Lower Plarel and Prabhadevi in the next two to three years. Most of these properties are coming up in Central Mumbai's mill lands, where a small piece ofland can command exorbitant rates. Pranay Vakil, Chairman, Knight Frank, who believes that often developers go overboard and add to the supply side with such products that have limited buyers, says that we see an oversupply kind of scenario once these properties come into market over a period of two to three years.
Most of these developments are of a similar nature and confined to a particular location. Such an approach may lead them to a tough situation where we may see some level of desperation, he adds. There are others who believe that developers who purchased these land parcels in the erstwhile textile hub of central Mumbai are recently forced to build premium properties on these land pieces in order to justify the high prices at which these lands were purchased in the past. In fact, most of these lands were originally purchased at high prices for development of commercial properties.
However, since the market for commercial real estate is facing severe over supply, these developers have no option but to build these high-end properties in the residential market. Ramesh Jogani, CEO, IndiaRelt, who point out how the glut of supply of commercial properties in recent times has taken toll on the market dynamics in the commercial capital, said that a big chunk of development in this location is coming up out of default. Everybody is jumping on to the bandwagon and this in no way augurs well for the overall market. Developers of these commercial properties are under severe pressure on account of weak offtake.
A property exhibition in Mumbai by the Maharashtra Chamber of Housing Industry saw a weak response from prospective buyers as more than 60 per cent of the properties exhibited at the venue were priced in excess of Rs. 70 lakh. Experts feel that unless the builders come up with the right kind of properties, considering market dynamics, they may not evoke enough demand. Residential property prices that have gone up by more than 15 per cent in the last six months are likely to see some correction in the future and it is only then that we may see movement in transactions - which has declined by over 30 per cent.
Buying a house is likely to be a costly affair. The government has cancelled sops for land developers, when they enter into an agreement with land owner. The stamps and registration department imposes 1 % stamp duty on the joint development agreement [JDA] and power of attorney [POA] entered between land owner and developer. Owing to huge revenue loss and pilferage, the JDA was withdrawn from the Stamps Act. This means, any agreement entered between land owner and developer will ensure payment of 6% stamp duty under the sale agreement. Once this amendment is introduced the developers are sure to pass on the burden to consumers.
In yet another initiative, aiming at minimizing civil disputes between the individuals, the government will insist that registration of property will be done only if RTC [registration, tenancy and crop certificate] contains the owner's name. The RTC has to be attached with valid pre-mutation sketches. Expressing unhappiness over the land record management system, Chief Minister B.S.Yeddyurappa stated that many a time transactions are registered on properties by people who are not the owners. "A system will be put in place to ensure registration of transaction only by the owners of the properties as per RTC's records with valid pre-mutation sketches. This system will be gradually implemented." He said. In the new scheme, the Bhoomi project will be linked to stamps and registration. Once this is done, the fake registration of properties will be avoided.
No comments:
Post a Comment
Your Comment on this box