Blog

Benchmark's Blog

Pune’s real estate market is expanding towards its emerging economic hub Hinjewadi.

 No Comments

Mar12

Hinjewadi-Pune-IT-hubs-drive-demand-for-residential-properties-FB-1200x700-compressed

 

Hinjewadi, Pune: IT hubs drive demand for residential properties

We look at the factors fuelling the demand for residential properties in Pune’s Hinjewadi and whether it makes sense for buyers to invest here

Pune’s real estate market is expanding towards its emerging economic hubs. This includes Hinjewadi, which has properties for all types of home buyers. Owing to the diversity of home buyers in Hinjewadi, who come from different economic categories and working segments, even when there is a slowdown in one real estate segment, it is compensated by growth in other segments. Hence, the real estate market in Hinjewadi has witnessed consistent growth. If you are planning to buy a house in Hinjewadi as an end-user or as an investor, it would be crucial to understand the demographic structure of buyers and growth trend in this market.

Properties in Hinjewadi

“Hinjewadi is one of the major IT/ITeS hubs of Pune and with an estimated stock of close to 17 million sq ft, it provides employment to more than two lakh people. With the IT/ITeS sector being the major employer, the home buyers here are typically those working in these companies and are people in the range of 30 to 40 years. Apart from IT/ITeS, there is a significant amount of migrant population working across sectors like biotechnology, manufacturing, pharmaceuticals and automobiles,” says Divya Seth Maggu, director, valuation and advisory (mid-India) at Colliers International. People who move to Hinjewadi, initially tend to stay on rent. However, those who foresee a continuance in the city and find properties that are pricing to their liking, opt for home purchases.

Hinjewadi real estate overview

Hinjewadi-realty-market

Physical and social infrastructure in Hinjewadi

Hinjewadi is located close to the National Highway 4 (NH4) in the western suburbs of Pune. Being the focal point of the IT/ITeS revolution in Pune, it has a well-developed physical infrastructure, offering excellent connectivity to other parts of the city, as well as to Mumbai. “Apart from the 300+ companies already operating from Hinjewadi, there is an upcoming supply of 4.5 million sq ft of office space over the next few years, in and around Hinjewadi, thus, providing good employment opportunities for professionals,” adds Maggu. Pune airport is located at a distance of about 20 kms, while the nearest railway stations are Pimpri and Pune Junction at 11 kms and 21 kms, respectively.

“The metro rail work is going on in full throttle and once Line-3 starts, there will be direct connectivity from Hinjewadi to Shivajinagar. It will provide pollution-free and traffic-free connectivity to Pune city. Other major infrastructure developments include the high capacity mass transit route corridor, bypasses on the Mumbai-Pune Expressway and Pune-Bengaluru Highway, the proposed Pune ring road, etc. Hinjewadi has all the necessary civic amenities for people living here. International schools, good hospitals, shopping mall, multiplexes and recreational facilities are also available,” explains Raj Shah, director of the Namrata Group.

Hinjewadi real estate price trends

Year 2013 2014 2015 2016 2017 2018 2019
Number of units launched 1,661 1,309 993 4,967 2,494 6,090 4,510
Number of units sold 2,101 1,281 1,202 1,805 2,535 4,375 4,258
Weighted average price on year end (Rs per sq ft) 4,742 4,987 4,944 4,894 4,845 5,186 5,282

Source: Proptiger DataLabs, December 2019

The difference between the number of units launched and the number of units sold, has narrowed down in 2019. Property prices have remained stable in the last five years and at the same time, sales have increased gradually, indicating consistent growth in demand. Any drop in supply, may result in a spike in property rates in the near future.

Hinjewadi-Pune-IT-hubs-drive-demand-for-residential-properties

Why is Hinjewadi a good investment

Lifestyle: From social to civic amenities, Hinjewadi is able to cater to all needs of a family. Proximity to work, educational institutes, hospitals and entertainment zones, add to the attractiveness of the micro-market.

Rental demand: The continuous rise in demand for commercial properties, has also led to the influx of people to this region, thereby, boosting the demand for properties for rent in Hinjewadi.

Growth prospects: Hinjewadi already has three operational phases with a proposed phase-4, as well. As the office market grows and generates more employment opportunities, it will lead to more migration and demand for homes. Consequently, capital values of good properties are likely to appreciate.

Overall, the saturation of the core areas of Pune, along with growing employment opportunities in the region, have been the main drivers for the demand for residential housing in Hinjewadi.

 

60% women prefer buying homes from branded property developers

 No Comments

Mar05

women prefer buying homes

 

The survey found that 60 per cent women prefer buying homes from branded developers, while the male participants’ preference is equally divided between branded and non-branded developers, i.e., 50 per cent each.

Men and women are extremely different – be it when it comes to their spending habits, how they invest and so on. And now, a recent survey by property consultants, ANAROCK, ANAROCK’s latest Consumer Sentiment survey indicates that as many as 77 per cent women home seekers are looking to buy property for end-use; merely 23 per cent will buy homes as investments. Compared to this, about 62 per cent men are looking to buy property for end-use and 38 per cent for investment purpose. For 87 per cent women end-user homebuyers, these will be their first homes.

Another interesting find is that women more brand conscious than men. The survey found that 60 per cent women prefer buying homes from branded developers, while the male participants’ preference is equally divided between branded and non-branded developers, i.e., 50 per cent each.

The online survey was conducted in the second half of 2019 where 2,602 participants (including NRIs) took part. Here are few other findings from the survey.

Young women property seekers

Trends reveal that more young women buyers are now coming forward to buy a property. About 47 per cent women property seekers polled in the survey were in the age bracket of 25-35 years, followed by 41 per cent in the 35-45 age bracket. Interestingly, 5 per cent women property seekers were also aged within 25 years. In contrast, 47 per cent male home seekers were in the 35-45 years age bracket, while 34 per cent were aged between 25 years and 35 years.

Anuj Puri, Chairman, ANAROCK Property Consultants said, “The growing dominance of women homebuyers has been an ongoing phenomenon over the last few years, especially in urban centres. Now, their preferences are also distinctly shaping newer trends. While ‘proximity to workplace’ was the top priority for both male and female survey participants looking to buy homes, 35 per cent of the polled women consider suitable amenities within a housing project the second-most important factor. For men, the second-most important factor was the largest size they can afford.”

Property price
At least 40 per cent women home seekers prefer a property in the mid-segment price bracket with ticket sizes between Rs 45 lakh and Rs 90 lakh, followed by 35 per cent preferring the affordable segment priced within Rs 45 lakh. Only 3 per cent women will consider buying luxury properties priced over Rs 1.5 crore, as against 12 per cent men who prefer to buy within this category.

Most preferred city
At least 26 per cent of the polled women voted for Mumbai Metropolitan Region (MMR) as the top choice among all cities, followed by 22 per cent preferring the National Capital Region (NCR), and 20 per cent stating Bengaluru as their primary choice. About 5 per cent women prefer to invest in tier 2 and 3 cities.

Major motivators
Women across urban India are buying property either to diversify their investment portfolios and/or to avail multiple benefits exclusive to women. These range from tax benefits to reduced home loan interest rates by some banks, and also reduced stamp duty and registration charges across different states.
Type of property
At least 56 per cent women will only consider buying such homes, followed by 26 per cent open to buying properties that will be completed within a year. Merely 18 per cent preferred newly-launched projects.
Click here for all the information and analysis you need for tax-saving this financial year

Pune Ring Road Update

 No Comments

Jun11

Pune Ring Road update from TOI dated 04-Jun-2019

Real estate investment vs stock market

 No Comments

May11

real estate vs stock market

 

Now talking about the investments. I would like to discuss some of the differentiation that makes one of the options better than the other. Read on and find out which would suit you the best.

Investing in Real Estate:

Real estate among the metros is the main target of investment option for at least a decade now. This might be due to the increasing demand to accommodate IT sector people in the cities. With this influx of people, there is a huge expansion of the metros that happened and is happening. There is a huge increase in the number of construction of ready to occupy Land in Pune and in every metro in India. This would go on further as far as the IT sector flourishes. They would be ready to invest in the real estate and this would be fruitful for the builders who would benefit by making many construction projects. Eventually, there would be many best Land in Pune and every metro that could yield the best of returns as well. There would not be a chance for a concept called loss in this sector since this would just serve as a housing option if not used for investment. On the other side, the resale value also serves as the best option for those investing in real estate.

Investing in the Stock Market:

The stock market, on the other hand, has the maximum number of risks and it is insecure to settle down on investing in the stock market. There is not a single day we hear about the ups and downs of the stocks in the market. This is not in the case of buying any Land in Pune or in any metros.

Though both the investments as their own pros and cons, the real estate industry stands up with few bonus points. Take your decisions wise while it comes to decision making that involves huge capital.

Investments require a great deal of analysis and research be it any kind of investment option.

Benchmark Developers is one of the best land developers in Pune. We offer 100% clear title Agriculture and NA lands near Hinjewadi with very attractive rates. Feel free to call us on +91 866 999 44 99 or 77 20 935 551 anytime between 8 am to 8 pm.

Benchmark Developers

Sales@benchmark-developers.in

www.benchmark-developers.in

Akshaya Tritiya is the best time to buy property

 No Comments

May04

akshaya trituya

People believe that investing in asset on the holy day of Akshaya Tritiya will come with ample advantages. The term ‘Akshaya’ defines ‘eternal’ and the day is pondered prosperous when it comes to purchasing assets like property or jewelry. In short, this auspicious day is a good time for making an investment. It is believed that on this day, Kuber, the God of Wealth, prayed to Maa Laxmi. And he was offered eternal wealth and opportune by Devi Laxmi. From that day, it is said that people who invest in homes or any other assets, get eternal prosperity and wealth. Since people believe that buying an asset on this day brings luck, they go for purchasing a home with an expectation to reap more benefits in the future.

Let’s check out top reasons for purchasing property at Akshaya Tritiya:

Less risk ratio – In maximum places in India, the property prices go down for some reasons instead of increasing. This helps property buyers own a home to purchase on this day. In fact, the deal becomes reasonable by 30% in comparison with the prices all over the year.

Lucky day for special offers – In India, many real estate builders offer new schemes and special offers associating with payment plans on this day. Hence, this is an ideal time for property buyers to save cash as the property becomes more cost-effective for them.

property loans at cheaper rates – You can borrow property loans at cheaper prices this day and this is another purpose why people opt for buying a home on this prosperous day. Furthermore, this helps you receive better returns on investment. It’s a highly advantageous deal.

Constant cash flow through rental income – Houses becoming cost-effective for the buyers with offers, property buyers can afford it as it makes the best passive earning source. The strategy of producing a steady income, in the form of rent can be implemented

Benchmark Developers is one of the best land developers in Pune. We offer 100% clear title Agriculture and NA lands near Hinjewadi with very attractive rates. Feel free to call us on +91 866 999 44 99 or 77 20 935 551 anytime between 8 am to 8 pm.

Benchmark Developers

Sales@benchmark-developers.in

www.benchmark-developers.in

 

 

Hinjewadi Pune Real Estate Growth

 No Comments

May02

Hinjewadi growth

Hinjewadi, a part of growing West Pune Real Estate Growth, does not only boast of being the IT hub but also does present baggage full of well established educational institutions furnishing playgroups, crèches, to higher studies, burgeoning hospitality sector to Commercial complexes. Its nearness to the Pune-Mumbai expressway and Mumbai-Bengaluru national highway is a vantage point for the Globetrotters. Consequently, the synonymous appeasing weekend getaways like Mulsi, Lonavala, Mahabaleshwar, Goa, and Imagica are also bound to enthrall the senses of denizens looking for rustic charm, vivacity and a much-needed relief and change from their hectic, sedentary routine life.

Benchmark Developers is one of the best land developers in Pune. We offer 100% clear title Agriculture and NA lands near Hinjewadi with very attractive rates. Feel free to call us on +91 866 999 44 99 or 77 20 935 551 anytime between 8 am to 8 pm.

Benchmark Developers

Sales@benchmark-developers.in

www.benchmark-developers.in

 

Why Invest in Pune Real Estate

 No Comments

Apr29

Why Invest in Pune Real Estate

In this article, we will do the analysis on why to invest in Pune real estate.

Pune is very well known as the “Queen of Deccan” owing to its abundant natural resources and scenic beauty. Located in western Maharashtra, it is well known for its historical and religious places. It has a rich culture and is popular worldwide for its education and research sector. The cosmopolitan city of Pune has emerged as one of the most favorable destinations for investing in real estates. With its popular education institutions, improved infrastructure, pleasant weather, charming localities and much more, the city is now a great and fantastic place to live in and that one more big reason Why invest in Pune Real Estate.

Additionally, increased employment opportunities are one of the many good reasons to invest in Pune. It is known as one of the best cities for education, academically oriented with four universities, more than 20 engineering colleges, more than two hundred other colleges and other nationally and internationally accredited institutions. Needless to mention, foreign institutes are now setting up their own institutes or tying up with the existing ones in Pune to establish a base in India. Not only an educational hub but also Pune is now a thriving commercial city with abundant employment opportunities especially in IT and ITes companies.

The areas like Hinjewadi, Marunji, Kharadi, etc. have witnessed a positive trend with giant companies such as Infosys, TCS, Accenture, Wipro, Cognizant, Capgemini, etc. located in the corridors of these areas. And as a matter of fact, most of the developments and growths are taking place in the western zone of the city. Under the Special Township Policy, many new residential projects are coming up in Pune. People who have invested in Properties earlier are getting good returns by investing in Real Estate close to Hinjewadi. The trend continues for the upcoming projects located at Marunji, Nere, Kasarsai, and Chandkhed. They will definitely see the Big return on investment in the coming years.

Land in Pune is developing as fast as the city itself!

Portions of the city that were considered as the edges, a couple of years prior, are presently flourishing territories with new choices for eating and shopping, springing up in all respects as often as possible. While the older parts of the city boast of beautiful old family homes, the newer areas are perfect for students, young professionals, and families looking for flats in Pune. Investors are reaping generous rewards for intelligent plays in the city’s growth pockets, and the city’s boundaries are constantly expanding to bring in more such pockets. But a factor to watch out for is the illegal construction happening on the outskirts. Like any other property market, Pune will also not yield returns, if not intelligently pursued. Therefore investors need to plan and research properly before investing.

Another question that comes to an investor’s mind – Why invest in Pune Real Estate and what makes Pune such an attractive investment destination, in spite of the fact that Mumbai- India’s incredible land second to none is directly nearby. Well, despite their proximity to each other, Mumbai and Pune are two very different markets. Mumbai’s legendary space demand has made property there, exorbitantly costly pushing more and more aspiring middle-income home buyers to the out fringes. Whereas Pune’s residential property market has maintained its momentum even in a challenging economic environment. The middle- level managers based out of Mumbai can’t afford to buy a second home in that city. Whereas, they can buy a decent property in a plush Pune neighborhood, in the same amount. Pune is an upmarket city with good education options, good weather, and virtually no crime rate.  Many research agencies have confirmed that Pune has prevailed as one of the best performing residential real estate market over the past few years. Pune’s developers are now actively discouraging the mass purchase of units to speculative investors so that the market retains its rationality.

More and more Puneris are now spurning the chaotic existence of inner city life and embracing the privileges of living in less congested areas. Hinjewadi, Baner, Wakad, Undri, Wagholi, and Dhanori are attracting serious demand from home buyers who have had enough of traffic snarls, unacceptable air, and noise pollution. Designers in the previously mentioned regions pursue the refreshed city arranging outline, which guarantees open spaces, green spread, dynamic social and metro framework and the wide street which implies that they are in no danger of becoming clones of the inner city. Properties in Pune’s brand new suburbs offer a healthy, less stressful and more

Benchmark Developers is one of the best land developers in Pune. We offer 100% clear title Agriculture and NA lands near Hinjewadi with very attractive rates. Feel free to call us on +91 866 999 44 99 or

77 20 935 551 anytime between 8 am to 8 pm.

 

Benchmark Developers

Sales@benchmark-developers.in

www.benchmark-developers.in

Plot vs Flat

 No Comments

Apr25

Plot Vs Land

Which is the best investment for the long term?

A most heard question usually found among investors and home buyers is, what would be the right option for investing, plots or apartments? The favorable answer is a plot. There is no belonging more beneficial in the long run than investing in a plot.

The plot is one of the popular investment choices for its better resale value when contrasted with other residential properties. Although, investments in the plot has its own merit and demerit.

Is it a Good Investment Option?

After gold, investing in a plot is the first choice of any Indian. Through many generations, we have been taught that land is the real gold and its value never decreases over time. Nowadays, when everyone is searching for a variety of investment, the land is the only one which stays for a long run and priced higher.

On the other hand, share market and gold prices are reliant on the factors afar our control but when you have landed in a prime location, its price will rise higher exponentially.

Plot vs Flat

As the question arises while investing in a property, you get an option of either a plot or a flat. Rural areas have large acres of land which are used for the farming purpose or kept barren. Plot owners generally keep it unsullied until the need to sell arise and price of the plot rise up. Although, when investing in the urban area, apartments are the best option that can yield profitable return once the land price of locality skewers up.

Purchasing an independent plot is all about the choice if planning to build a house for future settlement and has the liberty to resize, change the construction.

When it comes to investing in a property, you get an option of either a plot or a flat. Undoubtedly, it’s a big dilemma which every property investor goes through, as both carry pros and cons. Investing in a plot or a flat come with their own set of challenges and benefits which every investor should educate with. Indian rural areas have large acres of land which are used for the farming purpose or kept barren. Plot owners usually keep it untouched until the need to sell arise and price the plot rise up. However, when investing in the city area, apartments are the best option that can yield good return once the real estate price of locality spikes up. Flat always score high when it comes to comparing with the plot for investment.

Buying an independent plot is all about the choice if planning to build a house for future settlement and has the freedom to resize, change the construction. Level, then again, has certain impediments on the span of the development.

A comparison between flat and plot:

  • Value of Appreciation:

Plot– With the lack of space in the city and low occupancy for the future, it is expected to appreciate very quickly. The flexibility of the option to build the house as per the choice and future requirement helps to use the plot accordingly.

Flat– A flat, compared to the plot has a limited lifespan. The value may increase or decrease over the course of the period. Lack of flexibility for modification and number of social rules makes flat least choice to invest.

  • Possession:

Plot: The entire plot belongs to you and there is no delay in getting the possession once sold out to the buyer.

Flat: In case of flat, a delay in possession of getting the flat key is evident. There are cases where the projects get delayed to certain objection from the local body or financial issues. This makes flat a risky investment. However, if buying a resale flat, then there is no delay in possession case.

  • Tax:

Plot: It’s a challenge to get a loan for the plot investment. However, few banks like HDFC Plot loans and SBI Realty offer loans to purchase a plot. Moreover, the tax benefit is subjective as it is allowed during the time of construction.

  • Flat:

Getting a home loan in lowest possible interest is now easy. Many real estate developers have a tie-up with reputed banks for an easy loan application. Moreover, you can avail for deduction of up to Rs 1.5 lakh for the interest you paid for the loan. Additionally, you can claim Rs 1 lakh deduction for repayment of the principal amount.

Conclusion:

To make a decision on whether to invest in a plot or flat, it is important to focus on your need. Do proper research and plan according to the future benefit you will earn by investing on any of the property

What is the best age to buy your first property

 No Comments

Apr19

Right Time To buy

 

 

In the event that you plan your investment carefully, at that point you can undoubtedly and orchestrate the imperative requisite funds for your first home.

Purchasing your first home is a passionate choice and accompanies numerous monetary duties. Arranging funds from different sources is no easy feat. Albeit, the home advance can be a stepping stool to satisfy your fantasy owning a home, however you need to orchestrate assets for the upfront installment, which is a significant sum… For example, the property that you have picked is INR 50 lakhs. As a rule, banks may offer 65%-75% of the property cost.

Regardless of whether the bank offers 80% of the property estimation then despite everything you need to mastermind 20% of the assets for example. 10 lakhs (20% of INR 50 lakhs) as token money from your own sources. The home credit will begin once all the property papers are affirmed by the bank and the underlying installment is finished. Referenced beneath are a portion of the venture subsidizes that can enable you to mastermind reserves admirably:

Invest Early

Putting resources into the beginning period of your vocation isn’t just a shrewd choice however can help in collecting riches for the initial installment of the property. There is likewise leeway to purchase property in beginning periods of your profession as bank can give long installment timetable to pay your home credit for example up to 30 years. Subsequently, it will assist you with reducing your EMI load amid the underlying years. Additionally, the intensity of exacerbating in your 20s or 30s can enable you to assemble a corpus without going out on a limb.

Investing in Mutual Funds

Mutual funds are long-term investments, typically 5-7 years. You should start a SIP in 20s to enjoy the power of compounding. This amount can also help you to pay the down payment. You can achieve a return up to 15% if the portfolio has been diversified among various schemes offered by mutual funds. For instance, if you are investing INR 16,000 via SIP in equity mutual funds every month and the return is of 15%, then you can accumulate a corpus of INR 9.2 lakhs.

 

Benchmark Developers is one of the best land developers in Pune. We offer 100% clear title Agriculture and NA lands near Hinjewadi with very attractive rates. Feel free to call us on +91 866 999 44 99 or

77 20 935 551 anytime between 8 am to 8 pm.

 

Benchmark Developers

Sales@benchmark-developers.in

www.benchmark-developers.in

 

Things You Need to Know when you buying a New Land

 No Comments

Apr07

land investment

Purchasing a new Land can be an extremely exciting moment in your life. Not only is it the place where you will relax and enjoy life, it’s also potentially the largest investment you’ll ever make financially. With any investment comes a certain degree of risk and a Land is no different. Life is always going to throw curve balls but there are things we can do to mitigate the risk. Below are some items to consider in order avoiding being hit by a pitch!

Affordability

Before you run out and start looking for a Land the best thing you can, and should do, is crunch some numbers to see what you can afford. Not only does this help you financially, it also narrows down your search by eliminating houses outside your budget. In my previous post Is a Land a Wise Investment? I posted a link to a great calculator that helps determine a comfortable budget for a Land given your situation.

My assessment is most Land purchases are based on “how much can you afford?” rather than “how much do you need?”. The typical pattern is to buy a starter Land, then buy a bigger Land, and then buy your dream home. This is all predicated on the thought that because we have increased earning power, we should buy bigger and better. Make sure when considering your budget you keep in mind your needs.

Closing Costs

I had heard stories that I would be encountering closing costs at 2%-3% of the land purchase price when I bought my first Land and it came in right around the 3% mark. The main costs were legal fees, followed by property taxes (the seller had prepaid them for the year). There is also a land transfer tax of 1%-2% of the Land value that is assessed, but if it’s your first time buying a Land most of this tax can be waived before you.

Benchmark Developers is one of the best land developers in Pune. We offer 100% clear title Agriculture and NA lands near Hinjewadi with very attractive rates. Feel free to call us on +91 866 999 44 99 or

77 20 935 551 anytime between 8 am to 8 pm.

 

Benchmark Developers

Sales@benchmark-developers.in

www.benchmark-developers.in