Thursday, 15 November 2018

Why Real Estate is a Highly Flexible and Profitable Investment?



When it comes to investing with an eye on earning a sizeable return in the future - Gold, Equities and Real Estate are generally considered more profitable than others. However, each comes with their own unique set of characteristics, risk factors and advantages. Gold is a stable investment but yields lower returns compared to equities and real estate. Equities, on the other hand, provide higher returns in intermittent periods but are sometimes highly volatile and involve a high amount of risk.

As the old adage goes, “The best investment on earth is earth”. Real estate investment is comparatively safe, and comes with assured returns as long as investors plan their investment astutely. This means carefully considering locational trends, upcoming developments, and establishment of hubs that generate employment and then make an appropriate investment. Real estate as an investment takes time to mature. Real estate can generate a regular rental income and can also generate long term returns, as their value matures with time.

In the year 2011, when the stock market tanked by almost 25%, real estate grew at a steady rate, and prices rose in 9 out of 15 metropolitan cities in India showing how it’s a better investment than equities and even gold. As long as the Indian economy continues to grow, real estate would continue to be valued; therefore property prices are likely to rise. We look at the various ways investors can benefit from investing in the real estate market -

  • Attractive Tax Benefits

Tax benefits are available for investments made in real estate. Section 80EE covers tax rebate on the interest of home loan for ‘first time buyers’. It also provides an additional deduction of Rs. 50,000 over and above the tax deduction of Rs. 2 lakh under Section 24 and Rs. 1.5 lakh under Section 80C

  • Better Sense of Control

Owning real estate property equips one with a greater sense of control over the performance of the real estate asset, to an extent. Investors can decide on furnishing or renovating the property in order to make it an attractive offering if the investor wishes to sell, lease or rent out the property.

  • Convenience of Rental Income

This is one of the safest investments which can generate regular income that gives lifelong returns while simultaneously enhancing the value of the property over time. However, it is important to have a property with the right attributes to be able to avail the desired benefits.

  • Diversified Portfolio

An astute investor is aware of the need for maintaining a diverse portfolio in order to minimise the risks. Real estate, being a palpable asset, works as a trust-establishing factor in the portfolio thus allowing an investor to attract risk-averse investors

  • Economic Growth Enhances Value

Development of any kind of infrastructure, setting up of office or commercial hubs, upgrades in social infrastructure like hospitals, malls, colleges, or public infrastructures like highway, airport, railway or bus stations pushes the value of properties. If an investment is located in a suburb, better connectivity and accessibility will result in profitable returns.

  • Flexibility

Investments in real estate can be made according to one’s need or budget. Options like building a retirement home for long-term capital growth, buying a home in a sought-after location for continuous flow of income are solutions investors could look at. Also, one can always invest in buying an old home and refurbishing the property as per one's requirements which would greatly boost the value of the property.

  • Get Attractive Finance Options

Investment in real estate is often acquired through attractive financial schemes. As interest charged on housing loans in India is much lesser than other loans, developers offer investors a host of interesting and feasible financial schemes such as 80:20, 25:75, 10:90, etc. which reduce the financial burden.

  • Highly Valued Real Estate Fund

There are some managed funds which invest in multiple real estate projects across geographies. Therefore, risk can be diversified, instead of investing in a single project. However, an investor will have to evaluate and select funds as the ticket size is large and includes a larger holding period.


In Conclusion

India's real estate market has been on the rise since the last couple of years. The real estate reforms have greatly increased customer’s trust in developers and have driven sales. There has been a significant rise in the sale of inventories across major metropolises in the country. This is going to increase considerably with time, as more people are in need of housing in the country. We, at House of Hiranandani have built a robust and a diverse portfolio spread across residential, commercial, retail, townships, SEZs and offer a wide variety of options for investors looking to invest in high growth corridors of Bangalore and Chennai. 


For a quick comparison between Real Estate, Gold & Equity as an investment options, head on to our latest newsletter – Long-Standing Realty


Tuesday, 13 November 2018

A Checklist for Investing in the Real Estate Sector



The real estate sector has recently seen better performances in recent times, not only in terms of sales but also in terms of regaining customers’ trust. Just as with any other investment, investing in real estate also requires the investor to do their homework, exhaustive research and background check. This pertains to the location of the property, its surrounding, the general history of the location and its future prospects as well as the background of the company developing the property and documentation relating to the project.

Here’s a ready reckoner or checklist to follow while considering your next investment in property:

Background of Developer
It is imperative to check the track record of the developer - the number of properties developed, locations, execution, and timeliness of delivery of the project. One can also talk to other customers who have invested in the respective developer’s projects and get to know their experience.

Project Location
Location is everything in real estate. A good, thriving location ensures a steady growth in value of the property as well as rental and resale values. A number of sources provide ready data and trends about various locations vis-a-vis their price graphs, rental and resale values, and demand. Studying such data is useful in making a real estate investment decision.

Location’s Growth Prospects
Some areas are in the early stages of their growth with increasing infrastructure and commercial development, while others have seen better days. Where are you investing? Is your location of choice witnessing a phase of growth or decline? Are there plans for upcoming infrastructure or new business districts? For example, the Bangalore International Airport in Devanahalli has boosted the growth prospects of this suburb; more commercial and residential projects have been planned here making it a prospective location.

Location’s Social and Civic Amenities
Proximity of schools, hospitals, markets, business centres and multi-modal transport determine a location’s attractiveness. Check your prospective location for all these basic and necessary amenities which will ascertain how comfortable your life in this place will be. It will also determine the overall value of your investment.

Cost Benefit of Financial Schemes
Many developers enhance the attractiveness of a property by offering potential customers numerous financial schemes which aim to reduce the financial burden of purchase. Evaluate each one to understand its suitability to your individual financial needs. Some may seem more attractive but may be less suitable for you. Understand these differences so you can choose the best scheme suited to you and ensure the most value-based investment.

Read the Fine Print
All project offerings have many details encapsulated in legal language which many of us are not familiar or comfortable with. Some of these include the declaration by the promoters of the project, the stated completion time of the project and the legality of the land holding. Check the documents for these factors and ensure correctness and validity of all declarations.

RERA Registration
RERA has been a game changer in real estate ever since its implementation was enforced on developers. It has empowered customers and ensured their rights. Check the RERA registration of any project you are considering investing in and note the registration number. Projects with RERA certification are considered more attractive to customers as the developer is required to file numerous documents with the respective state RERA authority before receiving the RERA number.

Confirm Little Details
Recently there has been a spate of cases where homebuyers and investors were still waiting to receive possession from the developer. In light of such cases, an investor must be prudent about checking that the affidavit they receive from the developer carries a possession date and the rate of interest you will receive in case of a default by the developer.

The more prudent and astute one is while investing in real estate the better the results. Make the right choices, be patient, invest for long term, and watch as your real estate investment creates value and wealth for you. Read more about long-term investment avenues, their past trends, potential gains and the promising future of realty investment in our latest newsletter - Long-Standing Realty.

Monday, 22 October 2018

Devanahalli - Welcome to the modern, connected and luxurious living



An ‘Aerotropolis’ also known as ‘Airport City’ is defined as a metropolitan sub region where the infrastructure and economy are centered around the airport. The city of Dubai, The Changi Airports International in Singapore, The California Aerotropolis in San Diego, The African Aerotropolis in South Africa and most recently The Kuala Lumpur International Airport in Malaysia are some examples of metropolises that have transcended into airport cities. Devanahalli in Bangalore is not exactly what you would call an Aerotropolis by definition. But, in terms of the function it performs, the economic and infrastructural developments brought about by the inauguration of the Kempegowda International airport, Devanahalli can be considered as an ‘airport town’. Take Devanahalli’s serene and green environment into consideration and you have a potent blend of tranquil living spaces supported by seamless connectivity.

Devanahalli is a town, located 40 km north of Bangalore. The city of Bangalore has gone through a huge boom in the last 2 decades. This economic upturn has resulted in a lot of people travelling to the city for work, business and better opportunities. The old airport was ill-equipped to handle the masses, leading to the development of the new airport. Devanahalli’s awakening from its slumber coincides with the development of the Bangalore International Airport (BIA), also referred to as Kempegowda International Airport (KIA).

Devanahalli’s push towards being an Aerotropolis:

Devanahalli, in the last couple of years, has seen a lot of infrastructural activity. In fact, it has been the focus of real estate projects in the city. Some of the most awaited developments in this region are - the multi-billion dollar Devanahalli business park which is spread across 400-acres and would also include an IT Park. An aerospace park, a science park and a 10 billion dollar financial city, which would rival Gujarat's and Maharashtra’s financial cities, would attract a lot of opportunities and people to this region. Further, the 22 billion dollar, 12000-acre BIAL IT Investment region is also being developed in Devanahalli. These projects once complete would totally transform the landscape of this region. Lastly, a new satellite ring road is being planned in order to connect Devanahalli to the rest of Bangalore and nearby areas like Doddaballapur.

Devanahalli - Blending serenity & modernity to create luxurious spaces of living

Devanahalli’s location gives it the strategic advantage of being able to relish Bangalore’s pleasant weather, its greenery and at the same time avoid the city’s pollution and traffic congestion. It has itself been blessed with an abundance of green spaces like forests, rivers and hills that protect the sanctity of this town. The pristine Nandi Hills is located a short drive-away from here. The biodiversity of these Hills greatly influence Devanahalli’s environment. The forest surrounding the hills acts as a platform for cloud condensation, as a result of which every morning, the trees are covered in water. Therefore, it’s not surprising to see that these hills are rich in birdlife and attracts a lot of birdwatchers and tourists.

Devanahalli is surrounded by some of the most eco-friendly settlements further enhancing the beauty of this sleepy town. Wake up in your abode here to misty mornings and breathe in the fresh morning air. The promise of a surreal view, a breathtaking landscape and breezy afternoons in a burgeoning metropolis is rare but that sums up everything that is true of Devanahalli.

We, at House of Hiranandani, are in a constant search of places that give people a fulfilling sense of living. Our projects are strategically located in growth corridors that offer seamless connectivity, convenience and retain its connection with nature. We therefore believe in the idea that modern living spaces should be adequately balanced with nature, and it has inspired us to create a beautiful community in Devanahalli, Bangalore. A beautiful abode nestling in the serene lap of nature. Take a glimpse of our project in the below video.



Friday, 5 October 2018

Chatbots, AI and Real Estate


Chatbot: “Good Morning! How may I help you?”

Buyer: “Hi! What apartments are available in your new project in Hebbal?”

Chatbot: “We have 2 BHK and 3 BHK apartments.”

Buyer: “What is the price for both?”

Chatbot: “2 BHK starts at Rs. 75 lakhs and 3 BHK at Rs. 90 lakhs. Would you like to see a sample apartment?”

Buyer: “Yes. Can that be arranged?”

Chatbot: “Sure. When would you like to visit?”

Buyer: “Next saturday would be good.”

Chatbot: “Sure. Please type your mobile number and email address and we will follow up with details for the site visit.”

This hypothetical conversation between a prospective homebuyer and a chatbot provides insight into the ease with which customers can explore home buying options without human intervention. Chatbots or intelligent virtual assistants present an opportunity for customers to gather important information and even set up initial project site visits. All this can be done without calling a contact centre, standing in long queues, being put on hold while retrieving important information or call drops. In essence chatbots offer a seamless interaction to the customer at any and all hours of the day, week or year.

Technology’s unbridled advances continue to offer previously unexplored avenues for better customer interactions, data gathering and analysis, improved customer services and much more. Most of us are already familiar with intelligent virtual assistants such as Siri and Alexa on our mobile devices. Chatbots powered by artificial intelligence and machine learning algorithms have the capacity to engage with customers and learn with every interaction, thus enhancing the customer experience.

For customers, chatting with an AI-powered entity may initially seem underwhelming as opposed to speaking with a live customer service executive. However, some of the advantages include:

1)    24x7 access to information via chatbots
2)    Quick and polite responses to questions
3)    Responses to routine queries can be efficiently received
4)    Relevant responses can be expected since the chatbots are powered by algorithms which are based on specific built-in keywords
5)    Chatbots are unaffected by fatigue or irritation from having to provide responses to repeated queries. As a result one receives unwavering quality of responses.

As we make advances in machine learning and artificial intelligence the experience of interacting with chatbots or virtual assistants will improve further.

There are advantages for real estate companies too in adopting such technologies. Data collected from the interactions of customer with chatbots can be processed, analysed and summarised for future use in understanding customer needs better.

Many companies and large businesses are already leaps ahead in implementing this technology in some form or the other. With Indian real estate sector in the post-RERA era it is perhaps the best time for realty companies to also adopt technologies such as chatbots, artificial intelligence and machine learning algorithms. At the end of the home buying spectrum we already have smart homes with IoT powered household devices which residents can manage from their smartphones. Thus, it makes sense to power the first step of home buying - information gathering - through intelligent virtual assistants or chatbots.

At House of Hiranandani, we are already in the process of using technology in a big way so as to improve customer’s experience. Technology is an empowering force and we are empowering our customers.

Thursday, 30 August 2018

Hebbal - One Of Bangalore's Scenic And Well-Connected Suburb



Hebbal was once known for its pristine lake and scenic beauty situated away from Bangalore’s city limits. But now, this suburb has transformed into a residential and commercial hub in the northern quadrant of this thriving city. Hebbal has a vibrant real estate market that is supported by a network of flyovers that enable access to Outer Ring Road and NH-7.

Hebbal has witnessed massive growth and development particularly in the last 15 years because of IT hubs like Kirloskar Business Park and Embassy Manyata Business Park, which are located nearby. This suburb is also only 10.3 km away from central Bangalore (Majestic). If you are looking for a home in a suburb where there is a balance between nature and the city, Hebbal is just the place for you.

Connectivity
When we search for our dream house, we always look at suburbs which have good connectivity to reduce the time spent on the road. The Hebbal flyover is the heart of this locality, with an expansive length of 5.2 km which connects it to two main arterial roads - Outer Ring Road (ORR) and Bellary Road (NH7). The MG Road is also connected to ORR, making Koramangala only 12 km away from Hebbal. This suburb is also just 20 km away from the Kempegowda International Airport, which makes national and international travels easier.
There are many BMTC buses which run to and from Hebbal, and connect it with the rest of the city. These buses are very frequent and reliable and you can find one which goes to almost any locality you want to go. The Hebbal railway station improves the connectivity of this place even further. The proposed Namma Metro Station nearby would give Hebbal’s residents access to places like Banashankari, K.R. Market, M.G. Road, Indiranagar, and many more.
Employment Hub
The boom of IT companies in this locality has put Hebbal on a fast route for development. Hebbal is home to many giants such as Philips Software, Integra Micro Software Services, Electronics Limited, IBM and AstraZeneca. There are prominent employment hubs like Kirloskar Business Park and Embassy Manyata Business Park. This attracts IT professionals from all over the country. Yeshwantpur which is a business hub is only 10 km away from Hebbal. Other important companies located in Hebbal are Shell, BEML, Tyco, Wipro Fixtures, and National Seeds Corporation.

Well-Developed Social Infrastructure
Hebbal has easy access to many prominent schools, colleges, hospitals, shopping centers and several other amenities in close vicinity. Reputed schools in Hebbal include the VidyaNiketan School, Jain Heritage School, VidyaShilp Academy, and MallyaAditi International School. Famous engineering colleges like REVA University, Altria Institute of Technology and NITTE Meenakshi College are also located here. Presidency College, National School for Journalism and Karnataka College are other important colleges situated in this vicinity.

The famous Columbia Asia hospital, Aster CMI Hospital, Bangalore Baptist Hospital, and M.S. Ramaiah Hospital are located in Hebbal. There are numerous shopping centers located in Hebbal such as Elements Mall, Esteem Mall, Orion East Mall and Mantri Square Mall. These shopping malls along with cinemas, restaurants and branded stores cater to more than just daily essentials.

Gateway to Adventure
Hebbal Lake is one of the most desired rejuvenating spots of this suburb. This lake is well known for its park, boating facility and for the bird watching; numerous bird lovers can be seen here regularly watching out for their favourite bird species. Hebbal is close to Jakkur Aerodrome which offers adventurous folks the thrilling experience of parasailing. Soaring through the limitless horizon like a bird provides an unbelievable adrenaline rush. The Jakkurlake is also a popular destination which is located near Hebbal.

At House of Hiranandani we believe in the balance that nature provides. We are developing luxurious residences close to nature in Hebbal. Hiranandani Glen Classic is a 10 acre development which offers homebuyers urban-centric amenities balanced with the grandeur of space and comfort of privacy. Finely crafted 1, 2 and 3 BHK apartments are available which offer unmatched lakeviews. Come, experience a unique home created by House of Hiranandani in a picturesque, emerging suburb of Bangalore.

Wednesday, 29 August 2018

6 Neo-Classical Influences in Modern Indian Architecture



Architecture and culture have been intertwined since the beginning of human existence. In fact, architecture can be considered as the cultural expression of the people of its time. It is the reflection of the challenges faced by our forefathers and their pioneering and thoughtful ways of getting around them with intelligent design. Those solutions are the backbone of modern day architecture. They speak of who existed, their influences and act as anchors of our past.

Indian architecture is rooted in its varied cultures, history, traditions and religions. It is as old as the history of civilization. The earliest remains of recognizable building dates back to the Indus Valley civilisation. Moreover, India’s architecture is an amalgamation of the various influences that stemmed from its global discourse with other countries of the world throughout its millennia-old past - the French, Portuguese, Mughals and Britishers among many others.

Here we take a look at the various neo-classical architectural styles that were inducted into Indian architecture over the centuries. These forms have evolved with time in terms of its aesthetics and functionality but still bear the signature of its influencers.

Balcony



Balcony is derived from an old Italian word ‘balcone’ meaning scaffold. It is a platform or external extension of a floor enclosed up to a certain height by a wall, balustrade or railings. They are generally supported by columns or console brackets. The balcony serves to increase the living space of a house and also ensures adequate amount of sunshine and greater ventilation in the house.

Baluster or Balustrade


A baluster also known as spindle or stair stick is a moulded shaft square or lathe turned form, cut from a square or rectangular plank. It is made of wood, stone or sometimes metal. Multiple balusters are known as balustrades. Balustrades stand on a unified footing and its function is to support the coping of a parapet of a staircase, handrail, balcony or terrace. Throughout history, balustrades can be seen in the architectural creations of a wide variety of cultures like the French - ‘balustre’, Italian - ‘balaustro’, Latin - ‘balaustium’ and Greek - ‘balaustion’.

Canopy


A canopy is an overhead roof or structure over which a fabric or metal covering is attached. Its main function is to provide shade or shelter from external weather conditions, but they can also be constructed for decorative purposes. Modern day canopies may be independent of other structures or may project out from a building, typically providing shelter at an entrance.

Pier


A pier in architecture is a support for a structure or superstructure such as an arch. It acts as a vertical load bearer thereby minimising load on the structure. They are mainly made of concrete. Example of piers can be seen in multiple monuments across India like the India Gate, Gateway of India.

Grillwork


Grillwork or simply grill comes from the Old French word greille. It is a decorative grating of metal, wood or stone or other materials used as screen, divider, barrier, or as a purely decorative element. In Indian homes, grillwork is predominantly featured in windows, verandahs, balconies and main gates.

Pediment


A pediment is an architectural element consisting of a gable of triangular shape, placed above the horizontal structure, typically supported by columns. The pediment is a widely present feature in the architecture of classical Greek temples as well as Renaissance, and Neoclassical architecture.

Architecture is an expression of style and culture. At House of Hiranandani, we have cultivated a unique style of architecture which is expressed in all of our real estate developments. Architectural features such as balustrades, canopies and grillwork sit elegantly alongside contemporary Indian elements such as Mangalore tiles, as seen at our Devanahalli residential project. Piers are a notable feature of the stately towers of our project ‘City by the Sea’ in Egattur. House of Hiranandani celebrates architecture in every project we design and develop, ensuring stylish yet comfortable homes with a signature design.

Friday, 10 August 2018

Evolution of Architectural Elements in Indian Homes: Traditional to Contemporary



The evolution of mankind and architecture has always moved hand-in-hand. Many elements of architecture have developed across eras, civilizations, climate change and geographies such that there evolved an established indigenous style in every part of the world. These elements have metamorphosed in design over time, from traditional to contemporary. The story of Indian architecture, through history till date, has numerous unique architectural elements which are still imbibed in our contemporary structures in interesting ways. Here are a few such elements which have made it to modern Indian homes.

Jaalis
As soon as we hear the names of palaces in Rajasthan and Gujarat, the first thing that comes to our minds are the intricately cut-out patterns on the doors and windows of these structures, known as ‘jaalis’. These patterns allow sunlight to filter through the openings and create an interesting play of light and shadow. Jaalis also prevent direct sunlight from entering the room as they dissipate the light. Also, they enable ventilation in the room and provide privacy for users of the space.

While passing through the jaali holes, the air is compressed and hence the temperature is lowered, thus cooling the home. Jaalis are represented in modern home designs as an external aesthetic feature or in internal partition walls.


L- Traditional Jaali in at Sarkhej Roza; R- Contemporary Jaali style in Brick Curtain House by Design Work Group

Jharokas
A traditional balcony which also acted as a semi-open space is called a ‘jharoka’. This architectural element is generally designed in the form of an overhang with intricately carved railings in stone or wood. Jharokas are also covered on top with domes or other semi-circular styles, usually supported by posts or columns. The original use of these jharokas in palaces or houses was primarily for the female members of the family who preferred to be a part of functions without being visible to the public. Jharokas also have a romantic element involved in the stories from our history, as the princess was generally ‘spotted’ standing in the balcony. Apart from this, jharokas also added to the aesthetic appeal of the structure.

In contemporary structures, jharokas have been imbibed using different materials such as brick, concrete or marble. They add a traditional appeal to the design and also provide a semi-open space in the house which can be an inlet to natural light and ventilation.



Courtyards
Courtyards are open spaces within the structure itself; in India courtyard styles vary based on the climate of the region. Be it the Wadas of Maharashtra, Havelis of Rajasthan, Pols of Gujarat or Nalukettu of Kerala, courtyards played a major role as a functional and aesthetic space of these houses. Courtyards work on the principle of convection currents, where warm air is drawn out and replaced by cool air. Therefore it works in both summer and winter- to keep the house cool and to bring in the winter sun, respectively. These centrally located courtyards also serve as spaces of congregation for family get togethers and other functions. They also act as buffer spaces between public and private areas of the house.

In modern day homes, this architectural element is a mark of luxury where architects use their creative energies to make the space unique and well connected to nature.



Verandah, Pitched Roof and Mangalore Tiles
Pitched roof with Mangalore tiles or red baked tiles are a common sight in Indian villages. Coupled with this, we usually find a verandah or a semi-open space - generally at the entrance or as a buffer between the closed and completely open spaces. Mangalore tiled roofs add to the beauty of a house more than a concrete one. They are also suitable for India’s climatic conditions as they keep the inner spaces of the house cool. Pitched roofs add on to the height of the ceiling of the house as well.

Verandahs, which make the intermediate space- are also a symbol of the Hindu tradition of welcoming guests with an open heart or more precisely- an open and welcoming house.




The wonderful aspect about architecture is its unstagnant nature- it will always change with time. This gives one the chance to keep modifying necessary elements of structures in one’s own creative way. At House of Hiranandani, we explore with design and meld the traditional with the modern. Our residences boast large living spaces with spacious balconies. Our project in Devanahalli boasts roofs with the classic Mangalore tiles. To quote from a movie- ‘we have to take the tradition and decorate it in our own way’.