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Real Estate Sector Relief may Include Solutions for Stalled Housing Projects for Stressed Home Buyers

There will be solutions on those lines , sources said without divulging if it would be Rs 10,000 crore stress fund as sought

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Real Estate, Housing, Projects
There will be solutions on those lines , sources said without divulging if it would be Rs 10,000 crore stress fund as sought. LifetimeStock

The real estate sector relief expected this week may include solutions for stalled housing projects for the stressed home buyers where projects could not be completed due to funding issues, official sources said,

There have been demand for as stress fund to deal with stalled projects and bail out lakhs of stuck homebuyers from both home buyers and builders side. There will be solutions on those lines , sources said without divulging if it would be Rs 10,000 crore stress fund as sought.

Another official said stressed fund do exist in many countries but owned by private sector adding there are several ways to provide liquidity in the lendings to the sector which is not necessarily through only a stress fund.

Stress funds are a global phenomenon and are present in nearly every mature market. But many of them are private funds.

Real Estate, Housing, Projects
The real estate sector relief expected this week may include solutions for stalled housing projects for the stressed home buyers where projects could not be completed due to funding issues. LifetimeStock

In August government announced more credit support to housing finance companies where it extended additional liquidity support to HFCs by the National Housing Bank, which has been increased from Rs 20,000 crore to Rs 30,000 crore.

In her meeting with the sector representatives, Finance Minister Nirmala SItharaman had met with the two apex realtors’ industry bodies CREDAI and NAREDCO, and the second with homebuyer associations, to discuss the issues concerning the real estate sector and steps to be taken to strengthen the industry.

The government is also likely to make changes to the definition of affordable housing as sought by developers so that more projects can come under the category. Further, bank loans for developers, which have always been an issue as banks try to avoid lending to developers, may witness some favourable changes. Developers and distressed home buyers had suggested to the government that a fund be set up for completion of stalled projects.

Further, the real estate sector also received a shock after the National Housing Bank recently asked housing finance companies to stop funding under the subvention scheme. The government is likely to ease the recent direction in favour of developers.

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Last month industry body NAREDCO had raised the need for a ‘stress fund’ before Sitharaman. If the government agrees to float such a fund, it could become the last-mile capital for large unfinished projects. Home buyers’ body — Forum For People’s Collective Efforts (FPCE) — also wanted Rs 10,000-crore ‘stress fund’ in budget to complete stalled projects. Their view is it is time now to end this problem by creating a ‘stress fund’ to the tune of at least Rs 10,000 crore to complete stuck real estate projects on pan India basis.

The real estate sector is facing multi-year slowdown in demand due to various reasons including tight liquidity situation, default by many builders and elevated level of prices.

The industry is expecting the government to address their concerns regarding liquidity crunch, demand slowdown and stalled projects. Industry bodies have said that the unrest in the sector is due to the of liquidity crunch and poor sales, and demanded that banks and NBFCs should be encouraged to fund projects. The industry fears bad situation during the coming festive season when generally demand is higher. (IANS)

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Premium Real Estate No longer Ruled By Location

Location no longer a key factor in choosing real estate

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Real estate in the face of pandemic doesn't get ruled by location. Pixabay

BY ADITI ROY

The perception of ‘premium’ means in real estate has moved from snob value to define family wellness and health.

As one deals with the global COVID-19 pandemic, developers and buyers are focusing on features in residences which enhance hygiene, wellness and sustainable living which need to be inherent in the design and makeup of housing projects.

“Wellness amenities such as yoga studios, meditation rooms, spas, gymnasiums, tennis courts and jogging tracks became the new rage among urban homebuyers. Such features eventually transcended luxury home projects and came to be expected in mid-range homes, as well. Wellness amenities now deliver a far more convincing ‘premium’ punch than architectural eye-candy. Branded developers were quick to sense the shift and began integrating such features into their projects,”says Prashant Thakur, Director & Head – Research, ANAROCK Property Consultants.

“The world we live in has suddenly been sharply redefined. In times of unprecedented job insecurity, rent is a burdening expense, property ownership is a vastly more attractive investment rationale than reposing faith in volatile financial markets, and the home is a focal point of an entirely new work ethos,” Thakur adds.

“Premium” beyond branding

The current lot of homebuyers are willing to pay extra for premium products and features. For most Indians’ homes are the single-largest lifetime investment they make so it makes sense to secure the best options available within one’s means. While branded builders deliver premium via superior properties and locations, the concept of premium in the backdrop of the severest healthcare crisis is wellness, says a survey by ANAROCK.

Real estate
Real estate doesn’t revolve around location anymore. Pixabay

Wellness as a Project Design Imperative

Real estate that encompasses wellness elements in a building’s design, materials and amenities is a major global trend. Wellness features in a residential (and also commercial) building enhance its desirability as it improves the overall environment and well-being. Among the most popular wellness amenities are gyms, yoga/meditation rooms, roof gardens and enhanced natural lighting and ventilation. As we edge more into the luxury domain, buyers also seek projects with art studios, hobby rooms and Zen gardens where they can unplug and rejuvenate.

The practice to get buildings certified for wellness is being followed by several international developers. This trend, which is being seen in residential, commercial and even avant-garde retail spaces, involves the building receiving a wellness certification based on its design and operational strategies. Similar to the LEED certification program by the U. S. Green Buildings Council, where a building’s ‘green’ features are evaluated and rated, wellness ratings assess the wellness features of a real estate development – how much they contribute to the health and wellbeing of occupiers.

Green Commercial Real Estate

While the residential real estate is gradually catching up to it, this trend is currently more visible in contemporary commercial spaces. Globally, owner-occupied commercial establishments are driving demand for green features and practices. Some of these features include active stairways, biophilia, enhanced air quality, natural sunlight, vertical gardens etc. Such amenities are seen as a way to attract and retain young employees who are highly focused on working in healthier environments.

Even Indian developers are savvy to the trend of tenants placing a high premium on wellness. An increasing number of Indian employees now look for workplaces which help them retain a certain level of fitness and wellness. India Inc is already replete with Grade A office spaces that feature gymnasiums, breakout areas, jogging strips and meditation corners. Coworking spaces, which millennial workers and start-ups favour, have been among the earlier adopters of this trend.

Real estate
Real estate customers and developers focused more on sustainable living. Pixabay

The ‘Premium’ Is High

There is a significant cost attached to incorporating wellness amenities into a building’s architecture, so properties in such buildings cost more than those without any features. The upkeep of such features also adds to the overall maintenance expenditure of the building. However, these features translate into benefits such as improved employee efficiency, performance and retention in office buildings, and a higher happiness and satisfaction quotient in housing projects.

Given that such amenities are in increasing demand, developers now look at including such features in their buildings’ design, over and above providing innovative health-centric amenities. Buildings in India which have wellness baked into their DNA are still a relative rarity, but even a lower saturation of wellness features can be a USP. Definitely, interest in such features in housing projects has never been higher than in COVID-19 era, which has brought the need for complete self-sufficiency in residential real estate front and centre.

Unfortunately, because of the high costs involved, we are unlikely to see this trend percolating down into affordable housing very soon. Such amenities come for a premium, and developers need to keep affordable housing… well, affordable. Nevertheless, some of the latest affordable projects being developed in the less expensive peripheral areas of our major cities do have a degree of basic wellness features.

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These projects are preferred because many buyers are willing to compromise on the conveniences of central locations – but not on the health of their families. Homebuyers with such an orientation can look for internationally recognised wellness ratings such as WELL Building Standard and Fitwel rating, which measure and certify wellness features positively impacting human health and wellbeing. (IANS)

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Tech Giant Apple Suspends All Active Shooting on Projects For Apple TV+ Series Due to Coronavirus Concerns

An additional 13 countries and regions have reported confirmed cases, increasing the number of affected countries and regions globally to 135

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Apple
"The Morning Show" earlier announced that it was shutting down production temporarily in an effort to prevent cast members and crew from catching the coronavirus, and now the temporary halt on production has now expanded to all other Apple TV+ shows that are in the process of filming, The Hollywood Reporter reported. Pixabay

Apple has suspended all active shooting on projects managed by outside studios, including “The Morning Show,” “Foundation,” “See,” “Lisey’s Story,” “Servant” and “For All Mankind” due to coronavirus crisis.

“The Morning Show” earlier announced that it was shutting down production temporarily in an effort to prevent cast members and crew from catching the coronavirus, and now the temporary halt on production has now expanded to all other Apple TV+ shows that are in the process of filming, The Hollywood Reporter reported.

Netflix and Amazon have also shut down all scripted TV and film physical production for two weeks. Television Group, Paramount TV Studios, and the CW have postponed production on all or part of their TV content.

Several late night talk shows, including “The Tonight Show With Jimmy Fallon,” “Late Night With Seth Meyers,” and “The Late Show With Stephen Colbert” are also on hiatus until at least March 30. At least 9,751 new coronavirus cases were reported outside China in the past 24 hours, bringing the global number of infections to 142,539, according to the World Health Organization (WHO).

Apple
Apple has suspended all active shooting on projects managed by outside studios, including “The Morning Show,” “Foundation,” “See,” “Lisey’s Story,” “Servant” and “For All Mankind” due to coronavirus crisis. Wikimedia Commons

Outside China, 61,518 confirmed cases of COVID-19 were reported as of Saturday morning, among which 2,199 patients died, an increase of 424 deaths compared to the previous day, Xinhua news agency quoted the WHO as saying.

An additional 13 countries and regions have reported confirmed cases, increasing the number of affected countries and regions globally to 135.

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The most affected European countries with over 1,000 cases each — Italy, Spain, France, Germany and Switzerland — have seen nearly 30,000 infections in total as of Saturday morning. (IANS)

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Property Investment Tips in Hyderabad and How Should you Choose your Ideal Property

Many people look for a house for sale in Secunderabad,Narsingi, Kukatpally, Kondapur and other pockets

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Property sale
Real estate in Hyderabad has remained a hot spot for property investors at all times, irrespective of the downtrends in the rest of the country. Pixabay

The real estate market in most parts of the country has remained sluggish over the past few years owing to demonetization and other reforms by the Government. But real estate in Hyderabad has remained a hot spot for property investors at all times, irrespective of the downtrends in the rest of the country. The positive outlook of the Government of Telangana in terms of elevated IT corridors, aggressive infrastructure development, strategic road networks, metro rail, etc., has helped the city to keep up with its sustained growth rate.

The Pearl City of India ranks high at the livability chart with its world-class amenities and ample employment opportunities. Hyderabad is also one of the fastest IT and the ITES hubs in the country that houses the top fortune 500 companies. This has, in turn, fueled the real estate growth in and around the city. The city is one of the hottest spots for real estate investment in the country and faces high demands among home buyers and investors to buy a property in Hyderabad.

Property investment
Buying an investment property is one of our country’s most favorite ways to invest. Pixabay

Current property trends in Hyderabad:

Many people look for a house for sale in Secunderabad,Narsingi, Kukatpally, Kondapur and other pockets that attract the maximum buyer inquiries during the recent few years. These suburbs in Hyderabad are the hot housing spots with more than 56.5% inquiries made regarding the availability of houses.  It has also been found that the 3BHK apartments are in high demand in Hyderabad compared with 2 BHK and 4BHK categories. Also, there is an excellent demand for upper mid-level projects in the city. Properties that are in the price range of Rs. 71-80 lakhs are browsed up to 20 times higher than projects that are in the price value of 30-40 lakhs.    

The best destinations for property investments in Hyderabad:

Buying an investment property is one of our country’s most favorite ways to invest. An investment property not only increased one’s wealth but also helps in securing one’s financial future. Some of the top destinations to look for properties in Hyderabad are as follows,

1. Secunderabad:

Secunderabad is one of the hottest destinations in Hyderabad that is filled with luxurious villas, houses, and apartments. It is the prime location in the city and houses a major railwayjunction and bus stand. Thousands of commuters travel across Secunderabad to reach their place of work and study. Buying a property here is not easy and could be highly expensive. People look for a house for sale in Secunderabad as their long term investment or to enjoy a high return on investment through rents. Investors show tremendous interest in booking commercial properties in Secunderabad more than residential plots.

2. Rajendra Nagar:

This is at a prime locality in Hyderabad and features a significant uptrend in the demand for residential spaces in the past few years. This place has many advantages such as, advancements in transportation, connectivity, superior infrastructure and security facilities which attract investors to invest in its diverse properties. It is very close to the Secunderabad railway station and the Rajiv Gandhi International Airport. Rajendra Nagar is connected with some of the business districts in Hyderabad such as Banjara Hills, Begumpet, Hitech city, etc

3. Nacharam:

Investors looking for villas in Hyderabad choose Nacharam as their destination. This is considered a high investment zone in the city and is known for its excellent infrastructure, reputed schools and hospitals and other amenities such as shopping malls, hotels, banks, etc. This place is urbanizing at a rapid pace and properties here are priced lower as it is about 60 km from Hyderabad. But this is the hot investment destination for real estate investors owing to a range of low- priced investment options

4. Kompally:

This place is also referred to as the real estate gem of Hyderabad. Though it is on the outskirts of the city, it is transforming from a suburban district to a thriving destination at a fast rate. It is the new educational, industrial and residential center in the city and is known pretty well among the NRI investors of the country. Though this place lies in the affordable investment segment at present, it has excellent potential for world-class housing. Its social and connectivity infrastructure is also developing at a fast rate.

5. Shankarpalli:

This place, also known as the green belt of the city is the best destination to book villas in Hyderabad. IT is just 11 km from the HITEC city and is the land for world-class educational institutions, health care centers, recreational zones, and resorts. As this place is close to Cyderabad and is easily accessible to other districts of Hyderabad, many NRIs consider this is a risk-free venue for residential investments.

Property Sale
Hyderabad is one of the hottest spots for real estate investment in the country and faces high demands among home buyers and investors to buy a property in the city. (Representational Image)

Some investment tips for prospective investors:

Investing in residential or commercial property has grown to be India’s preferred and favorite ways to invest. A property should always focus on increasing one’s wealth and in securing one’s financial future. But this is possible only when one manages their investment effectively by the following ways and channelize the same in the right way to achieve their financial goals.

  • It is important to choose the right property at the right price
  • It is important to keep a watch on one’s cash flow
  • It is mandatory to choose a property from an efficient property manager
  • Investors should understand the market thoroughly and buy houses, apartments or villas in Hyderabad from trusted parties
  • It is good to check the age and the condition of the property thoroughly before making an investment.
  • Before investing in a property it is mandatory to foresee its long term view and manage the risks accordingly.

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Final words:

There are abundant and ample residential units available in Hyderabad and Secunderabad to meet the housing needs of its existent and immigrant population. But finding the right property at the right place is the challenge in choosing the ideal investment. This is where housing.com helps investors in choosing the best property at different locations of Hyderabad. It is possible to pick Hyderabad properties at housing.com according to one’s budget and investment portfolio.