Ahmedabad + Indore + Bhopal - Reviews

The following projects meet our guidelines for recommendation and are also affordable :-)

Ahmedabad:
Bakeri Sanatan Residency Vejalpur 1,900
Bakeri Sulay Deluxe Row Houses Vejalpur 2,450

Indore:
DLF Garden city near bypass 1,850
Emaar Indore Greens (Plots) near Airport 800
Ansal Ansal Town near Agra Mumbai Rd 1,500

Bhopal:
Unitech Unihomes Kolar Road 1,360

Bhubaneshwar:
Vipul Vipul Gardens Kalinga Nagar 2,250

Bangalore + Chennai - Housing Reviews

Here are the latest Housing Projects that are available in Bangalore and Chennai for Home buyers. All prices are in INR / sft as quoted by the Developer directly.

DLF New Town Bangalore, BTM Ext. 2,100
Puravankara Purva Venezia Bangalore, Yehalanka 2,800
Puravankara Provident Welworth City Bangalore, Yehalanka 1,800

DLF Garden City Chennai, OMR 2,550
Puravankara Purva Swan Lake Chennai, OMR 2,590
Puravankara Provident Cosmo City Chennai, Near Siruseri IT Park 1,940
Sobha Sunscape Bangalore, Off Kanakpura Rd 1,978 - 2,128
Sobha Sunbeam I & II Bangalore, Off Kanakpura Rd 2,254
Unitech Ananda - North Town Chennai, Perambur 3,100
Unitech Brahma - North Town Chennai, Perambur 3,100
Unitech Unihomes Chennai, Nallambakkam, OMR 1,845

Kindly negotiate and try to get a Deal. Reviews on Indian Real Estate can be logged on here.

Kochi Housing Review

Kochi Housing Market has gained lot of visibility from all the leading developers of India. In our research, we have gathered the prices for various projects quoted directly by the Developer to us. Kindly negotiate for your Deal.

DLF New Town Heights Kakkanad INR 2,500
Puravanakara Moonreach Kakkanad INR 3,090
Puravanakara Eternity Kakkanad INR 2,290
Puravanakara Grandbay Marine Drive INR 4,590

Hot Housing Projects in Pune

Well they are sort of a affordable housing projects, though we wouldn't classify them as Purely Affordable which enjoy incentives from the Govrnment of India on various Loan products.

All prices in INR / sft, unless otherwise specifically mentioned

Kumar Builders 45 Nirvana Hills Paud Phata, Karve Road INR 4,900 for a bare shell unit is 4,500 psf
Kumar Builders Kubera Sankul Hadapsar INR 2,750
Kumar Builders Sublime Kondwa INR 3,225
K Raheja Vistas Kondwa INR 3,000
Sobha Sobha Carnation Kondwa INR 3,555
Mahindra Lifespace Royale Pimpri INR 2950-3050
Magarpatta Trillium Magarpatta City INR 3,250
Magarpatta Sylvania Magarpatta City INR 3,250
Magarpatta Laburnum Park Magarpatta City INR 4,000
Sobha Sobha Carnation Pune, Kondwa INR 3,555

Key projcts in Chandigarh - Mohali

Larger players are gradually expanding to new city markets (Tier II/III) to strengthen their pan-India positioning. Here are the key projects in Chandigarh - Mohali region worth looking at.

All prices in INR / sft

Unitech Unihomes Sector 107 INR 2000-2400
Unitech Executive Floors Sector 97 INR 2500-3000
Emaar Terraces Sector 108 INR 2400-3000
Emaar Bungalows Sector 108-109 6.6 mln for For G+2 units with GF built-up area of 1700sf and roof right for 1st and 2nd floors
Ansal Club Class Floors Sector 114 INR 2000-2300

Do let us know your views as this will help other readers make their choice for their dream home.

12 Months - Fall and Rise

Here is what happened in the past 12 months in the Indian Real Estate Space.

Bad to Worse Market Conditions 20-Oct-08
First Official Price Cut in the Sector 23-Nov-08
Price Softening Becomes More Widespread 7-Dec-08
Price Cuts Accelerating, Land Bank Contraction Begins 19-Feb-09
Price Cut Party Getting Bigger; New Launch Pickup 6-Mar-09
Lo-Behold, Oversupply Coming In Mumbai, Gurgaon 8-Apr-09
Price Correction Sets In Central Mumbai, Volumes Modest 10-May-09
Vol Trends In New Launch Surge 15-Jun-09
Commercial/Retail Demand Remains Subdued 2-Jul-09
Mumbai And NCR Update Plus Contours of Recovery 5-Aug-09
Price Cuts Barely Lifting Volumes in Metros (BCHK) 27-Aug-09
Tier II/III Cities: New Launch Pickup but Modest Volumes 16-Sep-09

The study takes into account real estate market in 7-8 key Tier II/III cities including Pune, Chandigarh, Kochi, Indore, and Bhubaneshwar.

Omaxe into a MoU with Bulandshahar Development Authority

Omaxe’s subsidiary Rivaj Infratech – a private limited company – has entered into a Memorandum of Understanding with Bulandshahar Development Authority for the development of a Hi-Tech Township in Bulandshahar, Uttar Pradesh.

The Hi-Tech Township will be built on land area of 3601.19 acres.

The proposed Hi-Tech Township is well connected to Delhi, located in the NCR Region adjoining Greater Noida adjacent to proposed Eastern Peripheral Expressway and North-East Railway Freight Corridor.

The revenue out of this project is estimated over Rs 7,500 crore and will be executed in phases over a period of five to seven years.

Land registration + approvals - Reforms

Real estate developers in India spend on average 1.5-2 years in obtaining all necessary approvals. In contrast, developers in Thailand and Malaysia receive all their approvals in 6 and 9 months respectively. Thus, by the time a developer in Thailand obtains all the relevant permits/approvals, its Indian counterpart would still be awaiting its building plan approval. An Indian developer interacts with more than 30 agencies to receive the required (50-70) approvals.

A developer in India needs 12-18 months from the time it commences work on a new launch to open the project for bookings. If the approval process is rationalized, many more projects could get approved within that time frame, increasing supply manifold, leading to a drop in real estate prices. The labyrinthine approval process ensures that supply lags demand during up-cycles, keeping prices elevated.

A developer needs to finance land cost for 18-24 months before it can launch the project. This financing cost is passed on to the consumer. Developers take longer to bring in enough supply in the up-cycle and cannot cut back supply quickly in a down-cycle. This leads to sharp run-ups in prices during up-cycles, followed by sharp falls during down-cycles. Forecasting quarterly revenues is also tricky, as revenue recognition from pre-sold projects could get delayed for want of approvals.