Challenges Ahead for Indian Real Estate Sector

The Indian Real Estate Sector is one of the sectors with the greatest potential to carve a niche for itself in the global market. It is today the second largest employer next only to agricultural and has linkages with over 250 associated industries. Even though the sector today stands much more organized than what it was a decade back, it has to face numerous challenges in the near future mostly due to the increasing urbanization.

The nature of population growth, personal and national incomes are the driving forces for all the industries. And, real estate sector is no different.  The industry has evolved quite well in the past few years, while also witnessing a period of recession but there are future challenges to face -  be it interest rate hike or pricing trends  - so that the estate sector becomes much more stabilized and organized in the coming future. 

Having attained maturity, the real estate sector is today attracting huge investments, especially FDI.  The Indian real estate boom has also been partly backed by the revolution brought about by private banks in the Home Loans business as it has proved to be the most lucrative segment for the Indian banking industry.  Besides these, favorable reforms ensuring easy project financing, increased fiscal incentives to developers and simplification of Government procedures are the few of the bottom factors that have catapulted the growth in this sector. In pursuance of the expected growth that this sector will take, the future is full of challenges. 

In the commercial office segment, in spite of the huge demand, the developers may have to face heat from the ups and down of other sectors since this segment, in particular, is highly dependent on the performance of the Indian IT/ITES.  While in the residential segment, there is still shortage of housing units which is bound to escalate. The most deterring challenge that would come on the way would be the product differentiation and correct understanding of the consumer needs. 

With property boom spreading in all directions, real estate in India is touching new heights. However, the growth also depends on the policies adopted by the government to facilitate investments mainly in the economic and industrial sector. The real estate industry cannot sustain growth in isolation, it requires supporting infrastructure.

In the current business environment, real estate developers face many obstacles to their pursuit for growth. Yet, industry leaders are largely optimistic about their business prospects, as they strategically plan for higher revenues and profits in 2012.

For more Indian property updates visit online to Orimark Properties Pvt Ltd. one of the leading property portal in Bhubaneswar, Odisha.

Real Estate Investment Can Be Challenging

Real estate investing can reap many benefits. Fortunes have been made in real estate.  The advantages of investing in real estate include high returns, leverage, tax benefits and personal control over capital invested. However, such an investment can be challenging and needs a lot of market updates and research.

Real estate investing comprises buying, renting out and/or selling of real estate properties to make profits. But any investing in real estate, even if it is in a city like Bhubaneswar where the real estate market has been booming for a long time, would require the presence of experienced mentor at least to guide during the initial stages. Certain guidelines should be kept in mind before investing in real estate.

More than anything, the first thing that one must keep in mind when looking at a piece of property to invest in is whether that property will generate a good income at some indefinite point in the future. As a result, location is one of the keys to successful money-making in real estate property investment. Proper location means you will be able to easily get tenants and they will also be willing to pay a higher rent. Properties located in prime areas of Bhubaneswar will be lot easier to sell and you can quickly finish a deal and make handsome gains.

It is therefore very important to do proper market research and an in-depth analysis on the property before investing in it or negotiating for it.  Deciding on the capital amount to be invested is yet another important step in the direction. If funds fall short for some reason, one can even think of investment partners. It is also equally important to know your seller well. Make sure his credentials are genuine and you are not being taken for a ride. Run a background check before you get too excited and pay through the nose for the property of your dreams. Learning the art of negotiation is also essential to crack a good deal. 

However, the most important thing is to find a good real estate agent and build a good rapport with him so that he can guide you through the entire process and keep you updated about market reports. Bhubaneswar has a couple of renowned real estate agents like Orimark Properties, who can be consulted to finalize a safe, secure and profitable investment.

To get updated Bhubaneswar property news browse to Orimark Properties one of the leading property portal in Odisha. 

Does Hiring a Broker Help Buyers?

With real estate on a high in Bhubaneswar, the demand for accommodation has gone up considerably in the recent times and brokers are cashing in on the situation. A lot of people, particularly, those new to the city, generally find it a daunting task to hunt for a house and for them, brokers come as a blessing in disguise. But the million dollar question still remains is it always a great idea for home buyers to hire a real esate broker while looking for a house? While there are several advantages of approaching a broker, one cannot ignore the pitfalls either.

THE BENEFITS:

The broker has an in-depth knowledge of a locality and can offer a buyer more suitable choices within the budget which is the biggest advantage of hiring a broker. As the broker knows the seller, he can also assist in the ice-breaking process, which may not always be possible when a buyer directly approaches the owner as not every seller is comfortable entertaining a complete stranger. 

 

This apart, due to the extensive research carried out by the broker for any locality, it becomes much easier for him to warn buyers about any problems they may face while staying in a particular area, for example regarding water shortage or water logging problem or any other issue.  So, the broker can also contribute in a big way towards the decision-making process of a buyer.

Besides, since a broker can earn a commission only if he manages to sell the house, he will provide a realistic picture of the price of the house to the seller as well as inform the buyer of any problems to ensure a smooth sale. 

However, the role of a broker is not limited to selection and purchase of a property alone. Brokers understand the legal process and can provide guidance and assistance in the registration process even after the house is bought. They can also help  with the kind of documents a buyer would require and format an agreement with the seller that will be in the favour of the buyer. This apart, brokers of good repute also know bank representatives, legal experts and other people related in the field, which can ensure that the work gets processed faster.

THE DISADVANTAGES:

The biggest disadvantage of hiring a broker is the cost. A property agent usually charges 2-3% of the value of the transaction as his fee.  As the commission is dependent on the value of the transaction, he could try to keep the sale price high instead of helping a buyer get a discount on it. However, a buyer can always try his best to negotiate with the broker on the commission part.

While making an effort to ensure a smooth sale, there is also a possibility that the property agent may try to whitewash over some issues or conceal certain information like some defects in the property, or pressurize the buyer into a quick sale by distorting facts about the locality or stating that the price could go up further soon.

As a result, it is always advisable to do some homework on one’s own and have a set of queries ready before approaching a seller, even if through a broker. This apart, a buyer should always go for a reputed broker as that fairly eliminates the chances of being duped into a bad deal. 

For more information about residential and commercial properties in Bhubaneswar, rush to Orimark Properties  one of the leading property portal in Odisha, India.

Eco-friendly Flooring For Your Apartments

The flooring in a building breathes life in terms of décor and aesthetics. A new class of external flooring materials is revolutionising the construction sector. This is the super world of exclusive eco-friendly external flooring blocks and tiles from many leading companies available in the market. The green consciousness in housing has now permeated the flooring industry and changed the perspective on this essential element of a home.

With Bhubaneswar touted as the real estate hub of eastern India, a lot of builders and designers are going the eco-friendly way. Choosing a green floor can decrease your environmental footprint, as well as reduce levels of toxicity and increase energy efficiency. And, ceramic tiles available in an unending array of colors, finishes and designs are the best choice in this regard. As due to their long life span, tiles need to be replaced less often which means less waste in landfills as well as reduced energy requirements for new product manufacturing, transportation and installation.

Besides, ceramic tiles today are also manufactured using anti-bacterial technology, which kills germs and significantly cuts on some of the most polluting agents present in the air, reducing odour and giving a germ-free environment.

There are several other advantages associated with ceramic tiles in fact apart from their aesthetic appeal and durability. Ceramic tiles provide better traction than most stone tiles and are resistant to water and stains in most cases. Moreover, these tiles are waterproof and not very porous, making them easy to clean thoroughly.

Besides, in contrast to other flooring materials, ceramic tiles do not contain toxic chemicals or coatings and doesn't harbor harmful, dust or dust mites like carpets, besides if laid with VOC (volatile organic compound) free mortars and grouts it offers a green flooring alternative. Also tiles unlike wood, carpet or natural stone flooring do not require high maintenance or chemical protective finishes such as polishing, shampooing, stripping or waxing. In fact ceramic, porcelain or higher grade vitrified tiles are all made from natural clay usually found in close proximity to the factories, eliminating destruction of natural resources like wood or hard mining for natural stones thereby preserving environment.

Besides their long life span, another advantage is that in the event of irreparable damage to part of the floor, one does not have to replace the whole floor but only the damaged tiles, which makes ceramic tiles even more economical. 

For more details about Bhubaneswar property rush to Orimark Properties, one of the leading property portal in Bhubaneswar, Odisha.

Subhadra Palace – Your Comfort is Your Priority

With new builders and developers entering the real estate market in Bhubaneswar, while the home buyers have a plenty to choose from, the competition has become tough over the years.  In such a scenario, Ajiban Construction has emerged as a trusted brand pioneering the business of building, promoting and developing high-rise apartments and commercial buildings in the city for the last few years. And, the group has now added two more feathers to its cap by coming with two new projects – Subhadra Palace and Subhadra View – for the people of Bhubaneswar. 

Subhadra Palace promises to be the home every common man wishes to have.  With sophisticated amenities, facilities and services, Ajiban Construction has come up with a project that can make dreams come true. With all perfect specifications from the interiors to the exteriors, the flooring, walls, doors and windows, Subhadra Palace is expected to stand out from the rest. The amenities being offered at Subhadra Palace are the other added attraction. 

From a gymnasium to a jogging track, Subhadra Palace has everything to keep its residents healthy and fit.  Club House and a terrace garden are some other highlights of the project. That apart, facilities like 24 X7 water supply, top security, society office, adequate parking space and two passenger lifts make Subhadra Palace a destination to settle down in. 

Similarly, Subhadra View is yet another attractive project from Ajiban Construction. Located strategically, the project is just 10 mins drive away from the Airport and 8 minutes from the Lingaraj Railway Station. It is surrounded by many educational institutes with plenty of free air, light and greenery all around making it an enviable property. 

One of the major attractions for Subhadra View is the fact that is located in a high land area which is designed as per Vaastu, which has come to play an important role in real estate. Again, the specifications have been designed in such a way so as to give a classy look to each apartment. Vitrified tiles, marble flooring for every room, the staircase, anti-skid ceramic tiles in bathroom and utility areas, ceramic tiles for bathrooms and flush doors with teak finish – all this beautify each and every apartment in Subhadra View.

This apart, superb facility like 24 hr power back up for common area, 24 hr water supply, swimming pool, club house, society room, 24 hr security, jogging track and gymnasium room make the project a must choice for home buyers.