Land prices in Chennai suburbs
Most suburban regions of Chennai are struggling to recover from the 2008 slump even as land prices in the city continue to rise upwards. In most part of Mahabalipuram Road, GST Road and the Chennai-Bangalore highway, land transactions are very few and land rates are below 2007 level. Many new residential projects were launched along these corridors over the past three years and received good response from buyers. But that has not translated into an increase in land prices along these stretches.
Kolkata Property Prices move up
During the last six months prices of residential properties have softened across Mumbai, Delhi and Bangalore. But the only metro to go away from this trend is Kolkata, where prices have moved up by 6 to 12 percent. Apartments in the posh Ballygunj and Alipore areas prices are hovering in the ranges of Rs. 12000-17000 per square feet while in New Town, Rajarhat area on the outskirts of Kolkata is commanding a price tag of Rs. 3500 to 6000 per square feet. In the upcoming area of the E M Bypass, persons are there to buy between 5000 to 8000 square feet. In the last six months realty prices have increased by 6 percent but input costs have also increased. The properties either ready built or with better amenities are fetching good transactions at high records.
Real estate may feel connectivity pinch in Delhi
Metro connectivity and property rates in the Capital run on parallel tracks. According to property experts, right from the announcement of Metro projects to their completion, property rates follow an upward movement. With Delhi Metro Rail Corporation is all set to go ahead with Phase III construction that will cover areas such as Dhaula Kuan, Munirka, Kalkaji, Lajpat Nagar, Botanical Garden (Noida) and Vasant Vihar, real estate prices are expected to see a substantial jump. Metro rail certainly affects real estate. Connectivity is a major factor since it provides a safe and comfortable mode of transport. People prefer homes situated near the metro stations. However, since the prices have already risen so much over past few years, it will be difficult to say how much impact the new railway lines will have now. Anyhow, the properties situated near Metro stations see the maximum hike in real estate rates.
Builders home in out of Mumbai city
Most of the developers have forced to shift their focus out of the Mumbai city limit owing to exorbitant land prices and red tape. There is hardly any vacant land available in the city. Even if land is available, the rates are so high that developers cannot undertake housing projects because the common man would not be able to afford the flats. Moreover developers face a number of hurdles for approvals. In Thane and Raigad districts land is cheap and there is less red tape. Developers could construct smaller and affordable buildings for the masses there within a short period of one year.
