Thursday, March 29, 2012

Residential rentals moved up by 15% in Q1-12 in Delhi, NCR

•Localities of South Delhi witnessed rental rates appreciate between 10% and 18% in Q1-12 over Q1-11

•Improved residential facilities and booming IT and ITES sectors has resulted in increased rentals in the Gurgaon, Noida and Ghaziabad region

New Delhi: A study by 99acres.coml showed that rentals for the Delhi and NCR region have seen an appreciation if we compare rents of a 3BHK residential apartment in Q1-12(Jan-Feb-Mar 2012) over Q1-11(Jan-Feb-Mar 2011). All localities in the Delhi-NCR region have witnessed rental values appreciate on an annual basis.
Commenting on the same Vineet Singh, Business Head, 99acres.com said “The residential rentals values in Delhi are likely to show a further upward trend in the medium term. This is largely due to Delhi being a highly supply constrained market where the demand for dwelling unit outstrips the supply by a huge margin. The policy environment is currently not conducive for a immediate increase in the supply and thus the demand pressure is likely to continue. Further, due to a high cost of units, the rental returns not very attractive”
A look at the rental prices of a 3BHK house in key localities of Delhi shows that the residential areas of Vikaspuri and Safdarjung witnessed the maximum appreciation. Both these areas have respectively witnessed 25% and 19% rise in rentals in Q1-12 over Q1-11. Green Park, Kalkaji, Sarita Vihar and Mayur Vihar-I witnessed 17%, 14%, 12% and11% rise in rental values respectively over the same time period. IP Extension saw steady rental values , while Patparganj and East of Kailash saw approximately saw 10% rise in rental prices.
The NCR region has seen an appreciation of rental values across localities. Key localities of Noida like Sector 61, Sector 18, and Sector 82 have seen rentals escalating within the range of 8% to 18% over a period of one year. Localities in the Ghaziabad region have also seen major rental value appreciation. Vaishali and Indrapuram saw 22% and 13% rise in rentals in Q2-11 when compared to Q1-11.
Prime areas of Gurgaon like Palam Vihar, Golf Course Road, Vatika City, and DLF Phase 1 have seen 25%, 24%, 23% and 20% rise in their rentals in Q2-11 as compared to Q1-12. All the other localities also witnessed appreciation within the range of 7% and 17% respectively during the same time period.




Posted: 28 Mar 2012 05:46 AM PDT

By Accommodation Times Bureau


Vijay Rana |Founder | vijay@lpcurry.com|

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Sunday, March 25, 2012

Festival special home loan schemes still continue

In the festival season housing finance companies have started the home loan schemes, but still haven’t withdrawn with those schemes such as fixed-cum-floating rate home loan due to upsurge in demand.

In the previous year’s September month the Housing Development Finance Corporation (HDFC) has introduced dual-rate product Fixed First and also has mentioned the deadline till 31st Oct but later on date extended to 31st March 2012. For loans up to `30 lakh, HDFC has fixed the interest rate at 10.75% for three years and 11.25% for five; for loans between `30 lakh and `75 lakh, the rate is 11.25% for three years and 11.5% for five; and for loans above `75 lakh, the rate is 11.75%.
Recently money lender Company’s higher authority came out with the announcement that the future of the product would be taken based on the Reserve Bank of India’s decision on lending rates. Following to foot steps of HDFC the nation’s second largest money lender ICICI Bank also not yet discontinued the special fixed rate product launched in the previous year’s August month. According to the scheme customers will get an option to lock in with a fixed rate for the first one or two years of the loan duration and then move to a floating rate. According to the authentic sources the product will remain in the market for more upcoming months. For loans up to `25 lakh, ICICI charges a fixed rate of 10.5% under the one-year option and 10.75% under the two-year option; for loans up to `25-75 lakh the rate is 11% for one year and 11.25% for two years; loans amounting to `75 lakh and above are charged at 11.5% in both cases.



Posted: 24 Mar 2012 05:00 AM PDT
By Accommodation Time

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Wednesday, March 21, 2012

Property prices will increase by 2% as service tax go up

New Delhi:

National Real Estate Development Council said that, “property rates will rise approx by 2% as in the union budget excise duty and service tax has been increased from 10 percent to 12 percent.”
In a media conclave National Real Estate Development Council (NAREDCO) President Navin M Raheja said that, “Property prices are surely going to rise. Now we have to see who will rise how much. However, it will increase by at least two per cent.”
The raising of service tax from 10% to 12% is going to negate the growth of the housing sector, already burdened and in dire need of sops from the government. The interest subsidy on home loans is not enough and will not help the low income group segment, realty player said.
Market players suggested that, government to announce some special packages for affordable housing segment, but that did not happen. The housing industry which contributes nearly 6.5% of GDP has been ignored once again by the government and not given its due status in the economy of the country.





Posted: 20 Mar 2012 05:16 AM PDT

 Accommodation Time

Thursday, March 1, 2012

5 mistakes to avoid while buying online insurance

Submitting incorrect information in form

Just because there's no agent to oversee the filling up of the form, do not submit incorrect information. The insurance company can reject a claim if it discovers that certain key facts are wrong or have been deliberately hidden by the policyholder. The main objective of the policy would go up in thin air if a claim is rejected. If a close relative has suffered from any of the specified ailments (diabetes, heart problem, hypertension), say so in the form. If you are a heavy smoker, don't categorise yourself as a casual smoker. This would be tantamount to suppression of a key fact. Keep in mind that the nicotine levels can show up in your blood tests.

"Also, medical tests vary widely from company to company. Some may be lenient, while others could be very strict. It is important that you disclose the facts because later your dependants will have a tough time handling the claim. As it is an online policy, they won't have any agent to argue their case," says Jayant Pai, vice-president, Parag Parikh Financial Advisory Services.

How you can avoid it: Obtain all information about your family's medical history before you fill up the form. Disclose all facts about your social habits and lifestyle.

Not comparing all the available options

Unlike other, more complex and sophisticated insurance products, a term plan is a commodity. By and large, its features do not vary across insurers and it all boils down to the lowest premium. However, zeroing in on the cheapest plan is possible only if you have done adequate window shopping and compared the  premiums of all the 8-9 companies that offer online term plans. Some buyers believe that a certain company with a higher claims ratio is a better option, but this may not be true. "Comparing term plans is not difficult as most policies have the same features, but it becomes difficult with health policies, as you need to dig out more information, such as hospital network and exclusion clauses," says Deepak Yohannan, CEO, MyInsuranceClub.com.

How you can avoid it: Evaluate and compare plans before you buy. Use an aggregator site to go through the premiums of other plans.

Buying too big a cover for too long a term

Ironically, the biggest advantage of online policies may also prove to be a drawback. The low premium may entice you into taking a cover that is bigger than what you need. "Do not buy a big cover just because the premium is low. Do so only if you need it," says Gopal Kumar, principal consultant, Allons Insurance Research. You may need a Rs 1 crore cover that costs Rs 12,500 a year, but since a `2 crore cover can be bought for an additional payment of Rs 5,000, you jump at the offer. "It may seem like a good deal, but if you do not require that much insurance, you are actually wasting Rs 5,000," explains Pai.

The other problem is that you may take a cover for a tenure that extends well after you stop earning. Some companies offer covers till the age of 75. However, there is no compulsion to pick one that lasts longer than your earning years.

How to avoid it: Though low premium may seem attractive, it should not be the guiding factor while buying a policy. Once you decide that you need a certain level of cover, look for the options that are available online as well as offline. Depending on your affordability, choose plans that offer suitable premiums. "Assess your need and asset-liability situation while buying insurance," says Kumar.

Opting for too short a tenure or low insurance cover

The flip side of the above mistake is taking too small a cover or doing so for too short a term. A life cover of Rs 50 lakh might seem enough right now, but even 6% nominal inflation will reduce its value to about Rs 28 lakh in 10 years. Buy a cover that is big enough to take inflation into account. The bigger mistake is buying a cover for a short tenure. A policy that ends when you are in your 40s is a big waste of money. You are effectively insuring yourself during the low-risk years, but when the risks and liabilities are at a peak, you are without cover. Buying a fresh cover at that age will cost a bomb. What's more, you could be denied insurance if you have developed a medical condition.




Sakina Babwani, ET Bureau Jan 30, 2012, 08.00AM IST



Vijay Rana | CMD & Co-Founder | vijay@lpcurry.com|

Loans & Property Curry
116-B, 1st Floor, Shahpur Jat, Khelgaon Marg | New Delhi | 110049 | India |

Work: +91-11-4175 2512 | Mob: +91- 9873 3333 48 | www.lpcurry.com |

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