There are certain aspects that one must keep in mind while investing in property to gain maximum benefits. The size or configuration of the house is something that you should be careful while investing. Take the case of Karun Gautham, an engineer with TCS. Five years ago, Gautham bought a 3BHK from a reputed developer for Rs 70 lakh. Three years ago, he had to move outside India for a better opportunity within the company.
“I haven't been able to sell my property in the last two years but because of the location (near Adyar) I could make some good quick money in terms of rental returns. When it comes to selling, a smaller configuration is easier to sell, especially when the market is slow,” says Gautham.
In Chennai, the size range of a 2BHK unit would be anywhere between 750-1200 sq ft. In areas where property values are higher, it may be tougher to get hold of a 2BHK unit because unlike a bigger configuration, it is relatively affordably priced and moves faster in the market. Such units are ideal to be rented out too because most tenants are either single professionals or have small families. By the time a family expands, tenants turn into potential investors and opt for home buying.
The last two years has been the slowest in terms of real estate. However, the market has picked up when it comes to 2 and 3BHK units. According to PropIndex (Apr-Jun 2015), an India Apartment Index, consumers preference for 2BHK units recorded 53 per cent share followed by 37 per cent share of 3BHK. The relatively smaller built-up area (sq ft) of 2BHK category helps to keep the acquisition cost low and allows consumers to seek options as per their budget range and locality preference.
How are you reaching out to prospective buyers?
Is it through local brokers or word of mouth? Have you considered real estate portals that have far wider reach than any other medium? When you list your property online, make sure you are putting up genuine information in terms of exact location, configuration and size of the house, distance from other strategic locations such as job hubs, commercial areas, etc.
Do not overvalue your property. When buyers research online they have a benchmark in mind. An informed buyer will always use of such platforms to understand the existing rates and values in a particular locality and hence misguiding them may not be a fair route.
Source From: http://content.magicbricks.com/industry-news/chennai-real-estate-news/growth-track---earning-capital-returns/82797.html
Mantri Developers Reviews, Mantri Developers Reviews, Mantri Tranquil Review, Mantri Espana Review, Mantri Serenity Review and Mantri Developers Reviews. .
“I haven't been able to sell my property in the last two years but because of the location (near Adyar) I could make some good quick money in terms of rental returns. When it comes to selling, a smaller configuration is easier to sell, especially when the market is slow,” says Gautham.
In Chennai, the size range of a 2BHK unit would be anywhere between 750-1200 sq ft. In areas where property values are higher, it may be tougher to get hold of a 2BHK unit because unlike a bigger configuration, it is relatively affordably priced and moves faster in the market. Such units are ideal to be rented out too because most tenants are either single professionals or have small families. By the time a family expands, tenants turn into potential investors and opt for home buying.
The last two years has been the slowest in terms of real estate. However, the market has picked up when it comes to 2 and 3BHK units. According to PropIndex (Apr-Jun 2015), an India Apartment Index, consumers preference for 2BHK units recorded 53 per cent share followed by 37 per cent share of 3BHK. The relatively smaller built-up area (sq ft) of 2BHK category helps to keep the acquisition cost low and allows consumers to seek options as per their budget range and locality preference.
How are you reaching out to prospective buyers?
Is it through local brokers or word of mouth? Have you considered real estate portals that have far wider reach than any other medium? When you list your property online, make sure you are putting up genuine information in terms of exact location, configuration and size of the house, distance from other strategic locations such as job hubs, commercial areas, etc.
Do not overvalue your property. When buyers research online they have a benchmark in mind. An informed buyer will always use of such platforms to understand the existing rates and values in a particular locality and hence misguiding them may not be a fair route.
Source From: http://content.magicbricks.com/industry-news/chennai-real-estate-news/growth-track---earning-capital-returns/82797.html
Mantri Developers Reviews, Mantri Developers Reviews, Mantri Tranquil Review, Mantri Espana Review, Mantri Serenity Review and Mantri Developers Reviews. .
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