Located on outskirts of Maharashtra, Pune is fast emerging as one of a common hunting ground for the multinational companies. This has made the city a hot commercial property market for the past few years. Indeed, several factors are there accountable for bringing Pune real estate investment in the limelight. The list includes low rate of interests in banks, fixed deposits, falling returns on mutual funds.
Pune property market possesses immense potential which is further evident by its comprehensive growth that is believed to shoot up more in approaching years. Despite being a small city, it’s not at all rare to spend a day in Pune viewing at a series of big malls and array of big buildings which showcases the fast development taking place.
Also known as the Queen of Deccan, Pune features an ideal blend of climatic conditions and infrastructure which is conducive for the growth of the industries, which, further gives a boost to residential property values here. Property prices at most important locations of Pune are firming up in the wake of demand from the information technology sector. Many big names in the automobile, IT and BPO sector have set-up there operating centers here.
What adds to the advantages for the Pune city is its proximity to Mumbai, the financial capital of the country. This also stands as one of the major reasons for the property market in Pune witnessing new heights and grabbing the attention of the real estate developers.
Saturday, October 30, 2010
Wednesday, October 27, 2010
Blog
Condominium
A condominium, or condo, is a form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece. Colloquially, the term is often used to refer to the unit itself in place of the word "apartment". A condominium may be simply defined as an "apartment" that the tenant "owns" as opposed to rents.
"Condominium" is the legal term used in the United States and in most provinces of Canada. In Australia and the Canadian province of British Columbia it is referred to as strata title. In Quebec the term "syndicate of co-ownership" is used. In England and Wales the equivalent is commonhold, a form of ownership introduced in 2004 and still uncommon in most places.
Technically, a condominium is a collection of individual home units along with the land upon which they sit. Individual home ownership within a condominium is construed as ownership of only the air space confining the boundaries of the home "(Anglo-Saxon law systems; different elsewhere)". The boundaries of that space are specified by a legal document known as a Declaration, filed of record with the local governing authority. Typically these boundaries will include the drywall surrounding a room, allowing the homeowner to make some interior modifications without impacting the common area. Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium’s creation. The corporation holds this property in trust on behalf of the homeowners as a group–-it may not have ownership itself.
The primary attraction to this type of ownership is the ability to obtain affordable housing in a highly desirable area that typically is beyond economic reach. Additionally, such properties benefit from having restrictions that maintain and enhance value, providing control over blight that plagues some neighborhoods. Big cities, including San Francisco, Chicago, New York City, Los Angeles, Miami, Atlanta, Calgary, Seattle, Mississauga, Edmonton, Vancouver, and Toronto, are major condo users.
Overview
Typically, a condominium consists of multi-unit dwellings (i.e., an apartment or a development) where each unit is individually owned and the common areas, such as hallways and recreational facilities, are jointly owned (usually as "tenants in common") by all the unit owners in the building. It is also possible for condominiums to consist of single family dwellings: so-called "detached condominiums" where homeowners do not maintain the exteriors of the dwellings, yards, etc. or "site condominiums" where the owner has more control and possible ownership (as in a "whole lot" or "lot line" condominium) over the exterior appearance. These structures are preferred by some planned neighborhoods and gated communities.
A homeowners association, consisting of all the members, manages the condominium through a board of directors elected by the membership. The same concept exists under different names depending on the jurisdiction, such as "unit title", "sectional title", "commonhold," "strata council," or "tenant-owner's association", "body corporate", "Owners Corporation", "condominium corporation" or "condominium association." Another variation of this concept is the "time share" although not all time shares are condominiums, and not all time shares involve actual ownership of (i.e., deeded title to) real property. Condominiums may be found in both civil law and common law legal systems as it is purely a creation of statute.
The restrictions for condominium usage are established in a document commonly called a "Declaration of Condominium". Rules of governance are usually covered under a separate set of Bylaws. Finally, a set of Rules and Regulations providing specific details of restrictions and conduct are established by the Board and are more readily amendable than the Declaration or Bylaws. Typical rules include mandatory maintenance fees (perhaps collected monthly), pet restrictions, and color/design choices visible from the exterior of the units. Condominiums are usually owned in fee simple title, but can be owned in ways that other real estate can be owned, such as title held in trust. In some jurisdictions, such as Ontario, Canada or Hawaii USA, there are "leasehold condominiums" where the development is built on leased land.
In general, condominium unit owners can rent their home to tenants, similar to renting out other real estate, although leasing rights may be subject to conditions or restrictions set forth in the declaration (such as a rental cap for the total number of units in a community that can be leased at one time) or otherwise as permitted by local law.
India
Condominiums are more commonly known as "flats" in India. This type of housing is very common in big cities like Mumbai (Bombay) but not very popular in rural India.Actually, they are registered as "co-operative housing society" rather than condominiums in that the owners actually have a share of the co-op and not the actual real estate itself.Owners can sell the "share" in the open market, but they have to get the approval of the co-op to complete the transaction.
A condominium, or condo, is a form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece. Colloquially, the term is often used to refer to the unit itself in place of the word "apartment". A condominium may be simply defined as an "apartment" that the tenant "owns" as opposed to rents.
"Condominium" is the legal term used in the United States and in most provinces of Canada. In Australia and the Canadian province of British Columbia it is referred to as strata title. In Quebec the term "syndicate of co-ownership" is used. In England and Wales the equivalent is commonhold, a form of ownership introduced in 2004 and still uncommon in most places.
Technically, a condominium is a collection of individual home units along with the land upon which they sit. Individual home ownership within a condominium is construed as ownership of only the air space confining the boundaries of the home "(Anglo-Saxon law systems; different elsewhere)". The boundaries of that space are specified by a legal document known as a Declaration, filed of record with the local governing authority. Typically these boundaries will include the drywall surrounding a room, allowing the homeowner to make some interior modifications without impacting the common area. Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium’s creation. The corporation holds this property in trust on behalf of the homeowners as a group–-it may not have ownership itself.
The primary attraction to this type of ownership is the ability to obtain affordable housing in a highly desirable area that typically is beyond economic reach. Additionally, such properties benefit from having restrictions that maintain and enhance value, providing control over blight that plagues some neighborhoods. Big cities, including San Francisco, Chicago, New York City, Los Angeles, Miami, Atlanta, Calgary, Seattle, Mississauga, Edmonton, Vancouver, and Toronto, are major condo users.
Overview
Typically, a condominium consists of multi-unit dwellings (i.e., an apartment or a development) where each unit is individually owned and the common areas, such as hallways and recreational facilities, are jointly owned (usually as "tenants in common") by all the unit owners in the building. It is also possible for condominiums to consist of single family dwellings: so-called "detached condominiums" where homeowners do not maintain the exteriors of the dwellings, yards, etc. or "site condominiums" where the owner has more control and possible ownership (as in a "whole lot" or "lot line" condominium) over the exterior appearance. These structures are preferred by some planned neighborhoods and gated communities.
A homeowners association, consisting of all the members, manages the condominium through a board of directors elected by the membership. The same concept exists under different names depending on the jurisdiction, such as "unit title", "sectional title", "commonhold," "strata council," or "tenant-owner's association", "body corporate", "Owners Corporation", "condominium corporation" or "condominium association." Another variation of this concept is the "time share" although not all time shares are condominiums, and not all time shares involve actual ownership of (i.e., deeded title to) real property. Condominiums may be found in both civil law and common law legal systems as it is purely a creation of statute.
The restrictions for condominium usage are established in a document commonly called a "Declaration of Condominium". Rules of governance are usually covered under a separate set of Bylaws. Finally, a set of Rules and Regulations providing specific details of restrictions and conduct are established by the Board and are more readily amendable than the Declaration or Bylaws. Typical rules include mandatory maintenance fees (perhaps collected monthly), pet restrictions, and color/design choices visible from the exterior of the units. Condominiums are usually owned in fee simple title, but can be owned in ways that other real estate can be owned, such as title held in trust. In some jurisdictions, such as Ontario, Canada or Hawaii USA, there are "leasehold condominiums" where the development is built on leased land.
In general, condominium unit owners can rent their home to tenants, similar to renting out other real estate, although leasing rights may be subject to conditions or restrictions set forth in the declaration (such as a rental cap for the total number of units in a community that can be leased at one time) or otherwise as permitted by local law.
India
Condominiums are more commonly known as "flats" in India. This type of housing is very common in big cities like Mumbai (Bombay) but not very popular in rural India.Actually, they are registered as "co-operative housing society" rather than condominiums in that the owners actually have a share of the co-op and not the actual real estate itself.Owners can sell the "share" in the open market, but they have to get the approval of the co-op to complete the transaction.
Tuesday, October 26, 2010
Sale 2 Bhk and 1 BHK at Konark Campus Viman Nagar
Sale 2 BHK 1047 sft at Konark Campus
Rs 44 Lacs KL
Sale 2 BHK Front facing at Konark Campus
Rs 47 Lacs AM
Sale 2 BHK front facing 2nd floor at Konark Campus
Rs 48 Lacs KL
Sale large 1 BHK Konark Campus Rs 32 Lacs AM
Rs 44 Lacs KL
Sale 2 BHK Front facing at Konark Campus
Rs 47 Lacs AM
Sale 2 BHK front facing 2nd floor at Konark Campus
Rs 48 Lacs KL
Sale large 1 BHK Konark Campus Rs 32 Lacs AM
Requirements from My Clients
1 For Purchase Outright - 2500 to 3500 sft for Doctors
Consulting Clinic in Viman Nagar.Nagar Road
2. For Lease 2 or 3 Bhk for Service Apts in Viman Nagar
Consulting Clinic in Viman Nagar.
2. For Lease 2 or 3 Bhk for Service Apts in Viman Nagar
3 On Lease for Car Automobile Showroom
5,000 sft + 4,000 sft workshop
4 Any JV Proposals anywhere in Pune for Land
5 Any Outright Flat in Lunkad Orchids or Lunkad
GoldCoast or Lunkad Amazon
5,000 sft + 4,000 sft workshop
4 Any JV Proposals anywhere in Pune for Land
5 Any Outright Flat in Lunkad Orchids or Lunkad
GoldCoast or Lunkad Amazon
6 Any Outright Flats in Konark Campus or Clover Acropolis
Ganga Satelite Wanowrie 3 BHK Apartments for sale
Ganga Satelite For Sale
Price 75 Lacs
Price 75 Lacs
Beuna Vista at Viman Nagar
Beuna Vista 3rd floor 2 BHK or Sale in Viman Nagar
Scenic View Area 1150 sft Rs 45 Lacs
Scenic View Area 1150 sft Rs 45 Lacs
Sophronia 3 BHK for Sale at Kalyani Nagar Price Rs 90 Lacs
Sophronia 3 BHK for Sale
Price Rs 90 Lacs
Price Rs 90 Lacs
2 BHK Furnished Rental Flats in Kalyani nagar and Viman Nagar
Viman Nagar
1, Viman Nagar 2 BHK Furnished - 20,000 / - Lunkad Colonade SN
2, Viman Nagar 2 BHK Furnished - 17,000 /- Konark Campus AM
3, Viman Nagar 2 BHK Furnsihed - 19,000 / -Neco Gardens
3, Viman Nagar 2 BHK Furnsihed - 19,000 / -
Kalyani Nagar
1 Kalyani Nagar 2 BHK Furnished - 22,000 / Silver Oak JD
2 Kalyani Nagar 2 BHK Furnished - 25,000 / Fortaleza AA
3 Kalyani Nagar 2 BHK Furnished - 25,000 / Kumar Sophronia JD 9th floor
4 Kalyani Nagar 2 BHK Furnished - 22,000 / Kumar Kruti JD
5 Kalyani Nagar 2 BHK Furnished - 38,000 / Lunkad Sky Lounge AZ
The Real Estate Market of Pune
Unlike other major cities, Pune’s realty sector has seen a steady rise both in residential and commercial market. The Pune realty developers believe since the city initially not being a major realty destination, it doesn’t go with the forcast to experience fall in realty values. Instead the demand will outgo supply in coming times.
With rise in IT and BPO hubs , the areas closer to Kalyani Nagar and Baner have a huge space for concept development and advertising which is attracting more investors by day .
For more on Pune Real Estate please click here
Property seen in India
The housing demand in top 30 cities was estimated at 4.9 lakh units during 2009 which projected a growth of 17% in 2010 to 5.8 units aided by economic growth, investments, customer confidence and increased affordability. This simply rules in that demand for housing is only going to grow in coming times at a steady pace until 2014.
Forcasted demand is seen at 6.8 lakh units in 2011 (18% growth over 2010), about 8.1 lakh units in 2012 (19%), 9.8 lakh units in 2013 (near 20%), and 11.8 lakh units in 2014 (about 20.6% growth).
The 30 cities include large macro markets such as NCR, Mumbai, Bangalore , Chennai, Pune, Hyderabad and Kolkata as well as smaller cities such as Ahmedabad, Jaipur , Cochin and Nagpur
As per Global real estate consultant, “The pan-India residential demand for the period 2010-2014 is estimated to be about 4.25 million units (cumulative), of which mid-range and affordable sectors continue to capture a significant share of 70%“
For more information on latest report ,please click here
Subscribe to:
Posts (Atom)