Financial Planning

Chandigarh Reality sector assumed prime significance due to the city’s strategic location. The city shares its borders with the states of Haryana in the south and Punjab in the north. It is surrounded by Mohali and Panchkula. The boundary of Himachal Pradesh is also not too far from it, giving a vibrant glow to its real estate sector.

 Indian real estate is passing from a slowdown and the global recession has tighten its claws on the reality sector surrounding Chandigarh, whereas, prices in Chandigarh are on its climax and will remain stable throughout the year without showing any sign of downfall. “Though the properties on the outskirts of Mohali and Panchkula have collapsed up to 15-20% giving rise to the chances of any movement, the properties in the inner sectors have denigrated to 5-7%”, says Vipin Sharma, General Manager, www.propertyvertical.com What can be the reasons of such a trend in this sector and what future course it will take? This article tries to find answers to these questions.

 In real estate sector, housing accounts for a major component and is growing at a fast pace. Remainder consists of commercial office space, industrial space, shopping malls, hotels and h ospitals. Growing nuclear families trend and rising income levels of middle class have contributed towards soaring housing demand. This trend ultimately leads to the rise in property prices in Chandigarh. As the trend of economics, demand is high and so does the prices is high. Also availability of cheaper home loans makes it easier for the buyer to invest in real estate. But, worldwide global recession resulted in the hike in interest rates and this further impacted the plans of salaried class, who was earlier dependent on the home loans, thus, hampering their investment plans.

 According to R.S.Walia, a property consultant in Sec 20, “prices are on an all time high in chandigarh, touching the skyline and are more than the prices in US, Canada and Australia. Due to this factor NRI buyers are stepping back and are more willing to invest in these countries”.

 But the situation in Mohali and Panchkula is exactly opposite as in Chandigarh. Supply is high but the demand is low. Excess availability and unplanned growth leads to supply in abundance. But the government’s move to cut the bank rates has provided some respite to the sector. Government’s encouragement package and RBI’s move allowing banks to provide special treatment to realty companies may provide a breather to the sector. Also with the public sector banks slashing the home loan interest rates to boost the struggling realty sector would prove beneficial for the sector. “The situation is improving after the correction in Government policies and reduction in interest rates and movement in these two districts has been noticed as there are more sales queries these days”, claims B.S.Kohli, consultant in sec 35. Also government should regulate the policy of registration of the consultants in the city, which will indirectly affect the prices, claims an official from the Estate office, Chandigarh.

 Though in the tricity region, one could not find any property in the suggested price range, but it would invigorate movement of property in the suburbs like Kharar, Zirakpur and Derabassi. Residential plots and old constructions are easily available in these areas in the suggested bracket.

 The buyers have adopted a wait and watch approach to grab the best opportunity with the hope of reduction in Loan rates. But the analyst considered this as the right time for the genuine buyer to invest in Chandigarh as there are higher possibility of good negotiations as compared to the outrageous prices in the year 2005-06, and was unimaginable for them to invest in the right property.

Chandigarh Reality sector assumed prime significance due to the city’s strategic location. The city shares its borders with the states of Haryana in the south and Punjab in the north. It is surrounded by Mohali and Panchkula. The boundary of Himachal Pradesh is also not too far from it, giving a vibrant glow to its real estate sector.

 Indian real estate is passing from a slowdown and the global recession has tighten its claws on the reality sector surrounding Chandigarh, whereas, prices in Chandigarh are on its climax and will remain stable throughout the year without showing any sign of downfall. “Though the properties on the outskirts of Mohali and Panchkula have collapsed up to 15-20% giving rise to the chances of any movement, the properties in the inner sectors have denigrated to 5-7%”, says Vipin Sharma, General Manager, www.propertyvertical.com What can be the reasons of such a trend in this sector and what future course it will take? This article tries to find answers to these questions.

 In real estate sector, housing accounts for a major component and is growing at a fast pace. Remainder consists of commercial office space, industrial space, shopping malls, hotels and h ospitals. Growing nuclear families trend and rising income levels of middle class have contributed towards soaring housing demand. This trend ultimately leads to the rise in property prices in Chandigarh. As the trend of economics, demand is high and so does the prices is high. Also availability of cheaper home loans makes it easier for the buyer to invest in real estate. But, worldwide global recession resulted in the hike in interest rates and this further impacted the plans of salaried class, who was earlier dependent on the home loans, thus, hampering their investment plans.

 According to R.S.Walia, a property consultant in Sec 20, “prices are on an all time high in chandigarh, touching the skyline and are more than the prices in US, Canada and Australia. Due to this factor NRI buyers are stepping back and are more willing to invest in these countries”.

 But the situation in Mohali and Panchkula is exactly opposite as in Chandigarh. Supply is high but the demand is low. Excess availability and unplanned growth leads to supply in abundance. But the government’s move to cut the bank rates has provided some respite to the sector. Government’s encouragement package and RBI’s move allowing banks to provide special treatment to realty companies may provide a breather to the sector. Also with the public sector banks slashing the home loan interest rates to boost the struggling realty sector would prove beneficial for the sector. “The situation is improving after the correction in Government policies and reduction in interest rates and movement in these two districts has been noticed as there are more sales queries these days”, claims B.S.Kohli, consultant in sec 35. Also government should regulate the policy of registration of the consultants in the city, which will indirectly affect the prices, claims an official from the Estate office, Chandigarh.

 Though in the tricity region, one could not find any property in the suggested price range, but it would invigorate movement of property in the suburbs like Kharar, Zirakpur and Derabassi. Residential plots and old constructions are easily available in these areas in the suggested bracket.

 The buyers have adopted a wait and watch approach to grab the best opportunity with the hope of reduction in Loan rates. But the analyst considered this as the right time for the genuine buyer to invest in Chandigarh as there are higher possibility of good negotiations as compared to the outrageous prices in the year 2005-06, and was unimaginable for them to invest in the right property.

Everybody is coming to Calgary; not really – it just seems that way. Parts of western Canada have some of the best economic prospects in North America these days, and Calgary is right at the heart of that good news.

We have seen times when it was hard to find a place to live and thought that is no longer the case, really, any assistance a newcomer can get would be welcome. Find out about the Calgary Real Estate Board

So, as you might know, we have seen Calgary in Western Canada rise as a pretty hot commodity over the last few years. Housing prices did skyrocket for a short period, and the market is still healthy, though more balanced these days. It has grown steadily, reaching a million inhabitants in 2007.

For a while, it was quite difficult to find a suitable place to live in Calgary, but we have a few tools around to assist those in need. In Calgary, one will find lots of real estate agents and the Calgary Real Estate Board.

What is the Calgary Real Estate Board? As they say on their own website, “a cooperative association supporting Calgary and area’s 5700 Realtors.”

They help enable property purchases and leases by providing a network and operating the multiple listing services, MLS, for the city. Buyers and sellers need a computerized service where people can share ideas and data regarding property for sale. They use it to provide up-to-date and complete market data.

Naturally, they advocate using the services of a Realtor as opposed to various fsbo (for sale by owner) plans, or any other salespersons. They claim you get better market access, information, assistance in things like due diligence and the sales process and exposure.

Above all they want you to know you are more protected from potential problems than you would be on your own. What kind of problems? They cite things like errors and omissions insurance and other sources of financial losses. Good Idea.

On their website, the Calgary Real Estate Board, the CREB, also provides a group of links for educational opportunites. Do you know someone who wants to pursue a career in real estate? Check out the courses offered there.

The Calgary Real Estate Board has put out a free local magazine called Home to Home for those who like in-depth knowledge about the local market. They also publish the Calgary Real Estate News. What’s that? A newspaper-formatted publication with articles, how-to tips, market information including show homes, listings and more listings.

Naturally they have a few statements: Their Vision statement goes, “To be the core resource provider to our Membership’s continued success.”

The Mission Statement says, “To provide the Members with the highest level of information and services.”

And their Values Statement reads, “To conduct ourselves in the highest ethical, professional, and cooperative manner.”

Calgary has lots of real estate for sale. A prospective buyer just has to find the right help, whether that is in the form of websites or personal attention. The Calgary Real Estate Board is there to help these people.