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News & Article

Unveiling the Latest Real Estate Market Trend & Update
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Indian Residential Real Estate Market

India's real estate sector is primed for significant growth in the coming year, with projections indicating a surge in sales and new property launches and trajectory to reach a US$ 1 trillion market size by 2030, accounting for a significant portion of the nation's GDP. As we navigate through 2024, understanding the factors driving this growth and the implications of recent budget announcements becomes crucial for stakeholders in the real estate market.

Growth Outlook for 2024
The Reserve Bank of India's (RBI) forecast of a 7% GDP growth for FY24 signifies more disposable income in the hands of the populace. This positive economic outlook is expected to fuel the real estate industry, leading to an anticipated 15–25% spike in new property launches and a 10-15% improvement in sales.

Budget 2024: Implications for Real Estate
Realtors have welcomed the budget proposal aimed at assisting the middle class in purchasing or building their own homes. Finance Minister Nirmala Sitharaman's announcement of a scheme to support deserving sections of the middle class, along with the commitment to build additional 2 Crore Homes for the rural poor under PM Awas Yojana, is expected to boost demand for residential properties and drive overall growth in the real estate sector.

Emerging Trends and Predictions

In addition to the budget announcements, several emerging trends shape the Indian property market in 2024:

Optimistic Outlook: Analysts foresee a favourable market environment, backed by pent-up equity seeking housing opportunities.
Attractive Investment Option: India's real estate sector emerges as a favoured investment option, driven by the country's rapid economic growth and diversification of capital.
Sustainable Growth: Experts stress the importance of government initiatives focusing on affordable housing schemes and incentives for banks to offer lower interest rates, ensuring organic and sustainable expansion in the residential market.
Stable Home Loan Rates: Projections suggest stable home loan rates for 2024, with affordability and income outlook playing pivotal roles in influencing residential sales.

Conclusion
As we embark on the journey through 2024, the Indian real estate market presents a landscape brimming with opportunities and potential for growth. With a strong economic outlook, supportive government policies, and evolving consumer preferences, stakeholders in the real estate sector can navigate the dynamic market landscape with confidence. By staying informed about emerging trends, understanding the implications of budget announcements, and embracing sustainable growth strategies, investors and homebuyers alike can capitalize on the promising prospects offered by India's vibrant real estate market.

14-Mar-2024

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Essential Factor for Property Purchace

You're finally ready to buy your first home and you're starting to research the available properties. It's a big decision, so before you commit to anything it's important to take some time and make sure that you have all the information you need.

Government Approval
Check Developers Reputation & Goodwill
Construction Quality of the Property
Location & Neighborhood of the Property
Budget
Rental & Re-sale Value

What Government Approvals Need to Consider Before Buying Property?

You are aware of the property you want to buy but you want to make sure that your purchase is legal because if it is not then there might be big consequences in the future. Well, this article will break down some major government approvals and how they affect the legality of your property purchase.

If you're planning to buy a property in Bangalore, you need to know which government approval you need.

The BMRDA is the planning authority for the Bangalore Metropolitan Region, which includes the city of Bangalore and the surrounding areas like Devanahalli, Hoskote and Nelamangala. The BDA is the planning authority for the city of Bangalore. The BBMP is responsible for properties located in the newly added villages of Anekal, Banashankari, Bommanahalli, KR Puram, Rajarajeshwari Nagar and Yelahanka.

Always check for RERA approval when buying property. RERA, established in 2016, safeguards both buyers and sellers in real estate. RERA approval ensures legal compliance, reducing risks for buyers. It provides peace of mind as government validation backs the project, making it a safer investment..

Under RERA, buyers will also have the option to cancel their booking if the developer fails to start work on the project within the specified time frame. They will also be entitled to a refund with interest if the project is delayed beyond the promised date of completion. So, if you're planning to buy a property in Bangalore, you need to check if it is approved by the BMRDA, BDA or BBMP. The approval process can be complicated and time-consuming, so it's important to get expert help if you're planning on buying a property in Bengaluru.

How to Check Developers' Reputation and Goodwill?

When you're considering buying a new property, it's important to do your due diligence and research the developers behind the project. You want to make sure they have a good reputation and are known for their quality workmanship. Checking developers' reputation and goodwill is a crucial step in the home-buying process.
There are a few ways to research developers and their projects. First, you can ask friends or family members if they've heard anything about the developer or if they have any personal experience with them.
Second, you can read online reviews and testimonials from past customers. Third, you can contact the Better Business Bureau or other consumer protection organizations to see if there have been any complaints filed against the developer.
Finally, you can contact the developers directly and ask them questions about their process and what they would recommend for your situation. This will give you a good idea of their customer service and whether they're truly looking out for your best interests.
Making an informed decision about which developer to work with is an important part of ensuring that your new property is everything you hoped it would be. By taking the time to research your options, you can be confident that you're making a wise investment for yourself and your family.

How to Check Construction Quality of the Property?

It is no secret that the quality of construction is an important factor to consider before buying a property. After all, you want to be sure that your investment is well-built and will last for years to come.

There are a few key things to look for when assessing the quality of construction:

Construction methods: Another important factor to consider is the construction method used. Was the property built using traditional methods or cutting-edge techniques? Traditional methods are often more reliable, but cutting-edge techniques can offer superior quality.
Materials used: Be sure to ask about the materials used in construction. Are they high-quality and durable? Will they stand the test of time?
Foundation: Check the foundation for cracks or other signs of damage. The foundation is the most important part of any structure, so it is crucial that it is in good condition.
Cracks in the exterior finish: Examine the exterior finish for cracks, peeling, or other damage. The finish protects the property from the elements, so it needs to be in good condition.

Make sure all doors and windows open and close properly and that there are no gaps around them. Doors and windows are key points of entry for both weather and pests, so they need to be well-sealed. Take a look at the plumbing and electrical systems to make sure they are up to code and in good working order. These systems are essential for both comfort

Poor drainage: this can lead to flooding and other water damage issues.
Warranties: Finally, don't forget to ask about warranties. What kind of coverage do you have in case something goes wrong? How long does the coverage last?

By taking the time to check these key factors, you can be sure that you're getting a quality property that will serve you well. If you're unsure about the construction quality of a property, it's always best to consult with a professional inspector before making an offer.

Why Important To Check Out "Location" And "Neighborhood" Of The Property? When you're in the market for a new home, it's important to take the time to research both the location and neighborhood of any property you're considering. After all, you're not just buying a house – you're buying into a community.

Here are a few things to keep in mind when considering location and neighborhood:
• Crime rates: Be sure to check out the crime rates for the area you're interested in. No one wants to live in a high-crime area, so this is an important factor to consider.
• Proximity to amenities: You'll want to make sure you're close to the things you need and want, such as shopping, schools, parks, restaurants, hospitals, workplace etc.
• Noise levels: If you're looking for a quiet neighborhood, be sure to check out the noise levels. Things like traffic, construction, and loud neighbors can all make a difference in how comfortable you are in your new home.
• General vibe: Spend some time in the neighborhood and get a feel for the overall vibe. Is it family-friendly? Does it have a lot of nightlife?
• Value: The location of a property can have a big impact on its value also. If a home is located in a desirable area, it will likely be worth more than a comparable home in a less desirable location. When you're thinking about resale value, it's important to consider the location of the property.
Take your time when choosing a new home. It's one of the biggest decisions you'll ever make!

Why You Should Know Your Budget Before Buying A Property?

If you're thinking about buying a property, one of the first things you should do is figure out your budget. After all, you don't want to end up spending more than you can afford.

There are a few different ways to go about creating a budget for your potential purchase.
• The purchase price is just the beginning - There are other costs associated with buying a property, including closing costs, inspections, and potential repairs. Make sure that all of these factors come into your budget.'
• Financing costs can add up - Getting a mortgage is usually necessary to buy a property, and there are associated costs with that as well. Be sure to get pre-approved for a mortgage and compare interest rates before making an offer on a property.
• Don't forget about ongoing costs - Once you own a property, there are still costs associated with it, such as insurance, taxes, and maintenance. Make sure you have an accurate estimate of these costs before making an offer on a property.
• Another method is to calculate your monthly income and expenses, then see how much you have left over each month after paying your other monthly expenses, utilities, and repairs/maintenance. This will give you an idea of how much you can realistically afford to spend on a mortgage payment.

Checking rental and re-sale value before purchasing a property is crucial for several reasons:
Loan Approval: Lenders use these values to assess property risk, making high-value properties more likely to secure loan approval.
Location and Demand: Desirable neighborhoods drive demand, boosting rental and resale potential. Property Size: Larger properties generally command higher values due to increased space.
Age and Condition: Newer & well-maintained properties fetch better prices than older or neglected ones.

In conclusion, when buying residential property, focus on location, budget realistically, inspect thoroughly, research diligently, ask questions, trust instincts, and ensure proper documentation for a successful and satisfying purchase process.

14-Mar-2024

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A Guide to Buying a Residential Properties

Buying a residential property can be an exciting and nerve-racking experience. Make sure you have all the information you need to make an informed decision when buying or selling properties, and read this guide to get started.

What to look for when buying a residential properties

When you are considering purchasing a residential property, there are a few key things to look for.

Location: the property should be in a good location so that you can get the best value for your money. It is also important to consider the surrounding area since it will affect how much you can afford to pay and how easily you can access things like schools and transportation.
Size: make sure the property you are looking at is big enough for your needs. It is also important to take into account any restrictions, like zoning laws, that may apply to the property.
Condition: take note of any damage or issues that may need to be fixed on the property before you make an offer. This will help you get a better idea of what you are getting yourself into.
Features: it is important to be aware of any special features or amenities that are included in the property. This could include parking spaces, pools, gym, gardens etc.
Price: Make sure you have a budget in mind when purchasing a residential property. Always try to find properties that are within your budget range.

The different types of residential properties When it comes to buying a residential property, there are a few things to keep in mind. Whether you’re looking for an investment property or a place to call home, the different types of properties out there can give you some insight into what might be best for you.

Here are three of the most common types of residential properties:
Villa
Plots
Apartments

Villa: If you’re looking for a standalone house or property that comes with world class amenities, Villa is definitely worth checking out. With a private pool, clubhouse, open park and more, this individual property is perfect for you and your family

Plot: Residential plot is a valuable piece of land that can be used for housing. It can also be used for various businesses, such as a grocery store or a pharmacy. A residential plot can also be used for other purposes, such as a park or a school. residential plot is a great investment for your future. It is not only an opportunity to own your own piece of land, but also to be part of a community that shares your interests and goals. There are a number of things you can do with your plot, from building a home on it to using it as a garden space. The possibilities are endless!

Apartment: Apartment complexes offer residents both convenience and security. They are often close to shopping and other amenities, and they are usually well-maintained. There are a number of different types of apartments available in one building. These may includes 1, 2, 3 & 4 bedroom home in each floor of the building.

Benefits owning a residential property

Owing a residential property can be a great investment, as there are many benefits to owning one: Tax breaks: By owning a residential property, you may be eligible for tax breaks such as the Homeowners’ Property Tax relief
Security: Owning your own home gives you security in terms of being able to live in your own place and having access to your own belongings.
Investment potential: If you want to sell your property in the future, it will likely be more valuable than if you rented it out. Plus, rental income can grow over time as the market grows more stable.
Maintenance free living: If you have a bit of knowledge about maintaining things like gardens and heating systems, owning your own home can be less hassle than renting and paying someone else to do it for you. Plus, property taxes are usually lower when property is owned outright rather than leased or rented out, as the landlord is considered an owner.

Conclusion Buying a residential property is an important step in anyone’s life, and it can be even more exciting when you do it with the help of a real estate consultant. When you are ready to start your search for your perfect home, be sure to read this guide so that you know what to look for in a residential property and how to find one that is right for you. Remember, buying a home is an investment and something that should not be taken lightly; choose your consultant wisely so that you can make the most informed decision possible.

16-Mar-2024

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Indian Budget 2024 For Real Estate

In a move aimed at bolstering the real estate sector and addressing housing challenges faced by the middle class and rural poor, the Indian Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, has unveiled significant measures to stimulate growth and affordability.

Empowering the Middle Class:
One of the key highlights of the budget is the introduction of a novel scheme tailored to assist the middle class in purchasing or constructing their own homes. This initiative is poised to inject fresh momentum into the residential property market by fostering increased demand. By extending support to individuals residing in rented accommodations, slums, chawls, and unauthorized colonies, the government aims to facilitate homeownership aspirations and alleviate housing insecurities among this demographic.

Expansion of PM Awas Yojana:
Building upon the success of the Pradhan Mantri Awas Yojana (PMAY), the government has committed to constructing an additional 2 crore homes for the rural poor over the next five years. This ambitious endeavour underscores the administration's unwavering dedication to addressing rural housing needs comprehensively. By expanding the PMAY initiative, which has already made significant strides in providing affordable housing solutions, the government aims to uplift marginalized communities and foster inclusive growth across the country.

Infrastructure Development:
A cornerstone of the budget's agenda is the relentless pursuit of infrastructure development across the nation. Through substantial allocations towards the construction of additional airports, railway corridors, metro lines, and electric vehicle facilities, the government aims to enhance connectivity, mobility, and accessibility. These infrastructure projects not only serve as catalysts for economic growth but also serve to catalyze demand for real estate in surrounding regions, unlocking vast potential for urban and peri-urban development.

Impact on Real Estate Dynamics:
The Budget's emphasis on enhancing homeownership opportunities for the middle class and rural populace is expected to yield multifaceted benefits for the real estate sector. As aspiring homeowners capitalize on the government's support to fulfill their housing dreams, there is bound to be a surge in demand for residential properties. This uptick in demand is poised to spur construction activity, generate employment opportunities, and fuel economic growth in the housing sector.

Moreover, the expansion of the PMAY scheme is poised to create a ripple effect, stimulating demand for construction materials, ancillary services, and infrastructure development in rural areas. The holistic approach adopted by the government in addressing both urban and rural housing needs underscores its commitment to fostering equitable growth and socio-economic development across diverse segments of society.

Conclusion:

The Indian Budget for 2024-25 underscores a proactive approach to rejuvenate the real estate sector while prioritizing inclusive development. Through targeted interventions supporting middle-class homeownership and bolstering rural housing infrastructure, the government aims to catalyze economic growth and enhance social welfare. By empowering individuals with avenues for homeownership and investing in affordable housing for the rural poor, the budget lays the groundwork for a more equitable society. Moreover, the emphasis on infrastructural development and facilitating real estate investment promises to stimulate economic activity and create employment opportunities. Overall, the budget outlines a comprehensive strategy to harness the potential of the real estate sector for driving progress and prosperity across the nation.

14-Mar-2024

Testimonials

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Srikanth .Y
1 month ago

I was very much happy with the service / help given by Mr. Sharath Kumar from Godrej Ananda. He helped me in booking the flat. This will be our biggest life time investment/ dream. Thanks a lot Sharath Kumar for being customer friendly.

Ankit Nagpal
a year ago

Hello team, would like to really appreciate the services and support provided by your team specially PALLAVI from search homes for booking in prestige City Sarjapur. The after sales service is the main what I was looking for and it's really commendable the support and solution provided to my queries is still the same. Looking forward more relation with you guys.. and thanks VIPUL for making me introduce to pallavi and prestige City. 👍

Nikhil Ingale
3 years ago

I'm so grateful to meet Mangesh from search homes India Pvt Ltd in the process of buying first property. I'm so happy with the services recommended by him. First house is dream house for each one of us. Meeting him was really fortunate which helped us to turn our dream come true in purchase of the first property where our majority of the expectations met.
I would definitely recommend 'Search Homes Pvt Ltd' to everyone who are searching to buy dream home.
Thank you so much Mangesh and team for the great service provided by you.
I’m expecting to get same quality support from your end.

Shipra Jain
3 years ago

It was good experience with search homes and they helped us to find the right home. However, some followup was required to get certain things done. I would recommend all to go ahead with them in future.

Subrat Sahoo
3 years ago

I would highly recommend Search Homes to anyone looking to buy a property/land/apartment in Bangalore, they are highly efficient and professional group, Pankaj has always put our interest first and that's what is different from other property consultants, I have also referred them to my friends and they were extremely happy with the entire process, right from prestige, brigade and many others, they have always got fast handover to us and friends, always got referrals on time, couldn't have asked for a better property consultants in Bangalore.

Yogesh Tiwari
3 years ago

There are many consultants in the property market specially in Bangalore but Search homes is definitely one of “the best” because I personally believe that employee drives the company to the next level. I would like to take this opportunity to thanks “Pankaj” for keeping his commitment, passion, and his 24x7 support starting from suggesting PLSH, site visits, floor selection, TDS filling, and seamless handover. His relationship building skills are naturally awesome. I wish him and search homes all the best.

mohammed ashraf
a year ago

Bought an apartment through Search Homes India pvt lmtd, and enjoyed true customer care from Mr Pankaj Sing, he offered 1% cash back at the time of booking and processed the payment immediately after their bill settlement with Prestige group. Highly recommended

manoj manglani
11 months ago

Well it was a nice experience with this team ,, our site visit was with Hanshika and she was excellent with the details , we were not sure to buy but she treat us patiently .

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