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Classifieds: Real Estate | | NRI Property Chandigarh | | Posted By: Ashok Kumar Jain Jain at: 5, Jun 2010 4:44:54 PM IST | About Chandigarh Property:
Chandigarh''s planned development has always been hailed as a model for other north-Indian cities. Like any other city, Chandigarh too is faced with the constant expansion of the city limits. However, this expansion doesn''t come at the cost of present infrastructure. Hence the real estate prospects of the city have never been affected by these developments. Now, the Union Territory is bracing up its infrastructure to keep pace with the changing times.
The city has witnessed some promising projects from leading real estate developers like DLF, Parsvnath, Omaxe, Ansals API and Emaar MGF. The consumer base for most of the private builders is the urban-rich population or the NRIs. However, this situation is changing now. The Chandigarh Housing Board (CHB), the chief civic authority responsible for all the housing related activities in the region, is concentrating on mass housing projects. This is in consortium with the new housing policy which lays emphasis on providing affordable housing, considering the middle-income group as the potential user base. The Board recently announced the construction of around 13,000 new housing units under different categories in the city. The CHB has started construction of 160 houses in Sector-26 East (Bapu Dham) for low-income households. About 8,000 houses will be built in Dhanas and Maloya-I for the middle income group. Another 2,260 houses have been planned on 42 acres in Sector 63 under a general housing scheme. Besides this, 4,700 houses have been announced on 90 acres of land in Sectors 53, 54 and 55.
Property Values and Rentals:
With the foray of IT and ITeS majors in Chandigarh, commercial properties offering Grade A office space to the clients are in demand. At present, rentals at Sector 19 are floating at Rs 90 per sq. ft a month, while the same hovers from Rs 20 to Rs 35 at Sector no. 17 and 22. The capital values at Sector 17 and 19 are recorded at Rs 10-11,000 per sq. ft. the same, however, are quite moderate at Rs 6-7 per sq. ft, at Sector 22.
NRI Real Estate Investment has been on a sharp rise in the recent few years. This can duly be attributed to the tremendous growth in the Indian realty sector with an average of 30% last year. India being the fifth largest economy in the world and the second largest among rising nations has shown a potential growth in investments destination for the NRI population.
Special NRI quota is also provided for various land sales by Government. Special Grants and services are also provided to the NRI population to lure more and more foreign investment. All the leading banks and financial institutions have separate NRI dealing services that cover NRE, NRO bank accounts, housing loans and other home loan related products. You can also refer to the different bank websites to find out further details about the NRI investment procedures and the help available.
NRI Real Estate in India:
The real estate bubble is blooming with huge investments from all sides, the Government of India (GOI), individual builders, infrastructure developers, large conglomerates and NRI''s or the Global Indians. The contribution of the Indian Government and other factors to the attraction for NRI investments in realty sector of India includes:
• Sale of land for residential, commercial and industrial development.
• Liberalization of rules by GOI and RBI regarding NRI property and NRI homes investment.
• Infrastructure support for the realty development all across the country
• Policies for transparency and facilitation of real estate transactions
• No restriction on the maximum number of properties that can be bought
• Easy finance availability
• Simpler repayment processes like normal inward remittances or debit in their NRE or NRO bank account.
Contact at: 9216886888
For Booking Property and More Information Contact:
AFFINITY SOLUTIONS (P) LTD (The Real Estate Consultants)
Mr. Rajeev Shaini – 9216886888 (Chandigarh Office)
Mr. A. K. Jain – 09811159064 (Delhi Office)
16469150050 (US) | 442030516831 (UK)
http://www.affinityconsultant.com
rajiv@affinityconsultant.com
info@affinityconsultant.com
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