The Hot Picks From Bangalore Realty

Who hasn’t heard the name of India’s Silicon Valley? Being the country’s paramount information technology exporter, Bangalore ranks amongst the top ten entrepreneurial destinations, thanks to its multifarious job opportunities and perennial pleasant climatic conditions. These factors further contribute in making Bangalore a favourable realty hub with outstanding IT infrastructure. And even though the general sentiment in the Indian real estate market is that of gloom, certain areas of Bangalore are bustling with real estate expansionary activities. This growth can be affiliated to the growing IT infrastructure, the upcoming metro projects, new international airport and construction of roads, flyovers and underpasses which are proving to be a catalyst in the realty development of these regions.

It is an incontestable fact that wherever infrastructure development occurs, rapid real estate development follows in its wake, bringing with it lucrative investment opportunities. And undeniably, real estate investment is all about ‘right timing’. This article will explore some hot realty spots in Bangalore that are buzzing with swift infrastructure development, rapid rise of residential and commercial projects and are showing huge potential for a realty upswing.

The measures that have been taken to revamp Bangalore focus on improving connectivity to central business districts and physical and social infrastructure that have enabled many regions to emerge as self-reliant micro markets. Prominent among them are Whitefield, Electronic City and Old Madras Road, which despite the depreciating prices, have managed to stay afloat owing to their promising infrastructure, high-end realty ventures and proximity to reputed IT firms.

The coming of International Tech Park in Whitefield initiated the evolution of realty infrastructure in this region spearheading development in East Bangalore for over a decade now. The presence of many IT parks, shopping destinations and high end residential projects make Whitefield a highly preferred destination of investors and home buyers. Moreover, the completion of Outer Ring Road (ORR) providing a signal-free stretch from Silk Board Junction to Hebbal via Electronic City to Whitefield has increased the connectivity in Eastern Bangalore. Both Whitefield and Electronic City boast of major IT companies, finest dining restaurants and hotels, well known schools, colleges and hospitals and close vicinity to SEZs.

When it comes to the residential segment, both Whitefield and Electronic City have witnessed momentous progress over the years. The rising rentals and prices and the fast paced city life has forced many people in Bangalore to move to the outskirts, their preference being Whitefield due to its affordable prices. Following is a brief discussion of some flagship projects in Whitefield and Electronic City that are in great demand. Republic of Whitefield comprises of lavish 2 and 3 BHK apartments sprawled across the urbane suburban landscape of Whitefield right behind Divyasree Techno Park, EPIP, Kundalahalli. Assetz Marq is another significant residential venture in Whitefield that offers elegant 2 and 3 BHK residences varying in area from 1245 sq. ft. to 1639 sq. ft., covering 28 acres of vast green expanse. Godrej United is a residential marvel by Godrej Properties offering 1, 2, 2.5, 3 and 4 BHK housing units that are surrounded by 80 per cent open spaces and enjoy smooth connectivity and proximity to important social utilities. Another sought after project in Whitefield is Serene Town, a joint venture between VBHC and Axis Spaces that consists of 220 extravagant apartments in 2 and 3 BHK options offering tranquil and comfortable surroundings to home buyers.

In the case of Electronic City, Godrej E City is in popular demand owing to its carefully crafted 1, 2, 2.5 and 3 BHK apartment units, world class facilities and infrastructure and 70 per cent open green spaces. VBHC Vaibhava is another flagship residential project located at Chandapura-Anekal Main Road comprising of 2 and 3 BHK residences with area ranging from 614 sq. ft. to 989 sq. ft. available at affordable rates.

This realty buzz is also spilling over to areas near Whitefield and Electronic City. One such region is Old Madras Road (OMR), an arterial road connecting Whitefield, Outer Ring Road and Indiranagar to the city. OMR, previously an industrial area, has now been converted for residential use, experiencing rapid urban growth in the process. Its connectivity to Ring Road, RMZ Infinity and Bagmane Tech Park, MG Road, Byapanahalli Metro Station and the airport has caught the attention of some major realty developers. Salarpuria Sattva has launched a premium residential project called East Crest near Budigere Cross on Old Madras Road which consists of 1, 2 and 3 BHK apartments ranging from 598 sq. ft. to 1530 sq. ft. The project is very close to the upcoming SEZ zones and the International Airport. Nitesh Virgin Island is another sough after project offering premium and exquisite condominiums that have within a 10 km radius schools, colleges, malls, hospitals and IT Parks.

Other areas that one can look out for in Bangalore are the settlements around Ring Roads and Bidadi in South-West Bangalore. The improved connectivity between Bangalore and Mysore owing to the four-lane State Highway and the upcoming Bangalore Mysore Infrastructure Corridor has pushed the realty development in the region of Bidadi. In case of North Bangalore, the Devanahalli International Airport has played a major role in transforming the landscape of localities like Bellary Road, Devanahalli and Yelahanka.

The ever increasing IT companies have made Bangalore an ideal location to live in. Ranked as the fourth best IT hub globally and the fifth fastest growing city in Asia, Bangalore is not only a favourite of domestic buyers but has also managed to capture the attention of NRIs, becoming the top most choice of Indian investors, both at home as well as abroad.

Reserve Studies – Remaining Life

The reserve study consists of a number of estimates and assumptions. All of them are important, but one stands out as having significant impact upon the calculation of needed reserves – remaining life of components. As an example, if your previous reserve study indicated that the remaining life of the roof was 15 years and it is now determined to be only 10 years, then you have much less time to accumulate the needed funds, which translates into higher assessments. That is considered a change in estimated remaining life.

So how is remaining life calculated? First of all, recognize that it is an estimate. Unless the major repair or replacement is imminent and the date is known, the remaining life is an estimate. The actual remaining life may be shorter or longer than what is estimated in the reserve study. In more than 20 years of reserve study experience, we have seen components that have lasted only a small percentage of their original estimated life, and others that have lasted multiples of their original estimated life. One of the purposes of the reserve study is to attempt to predict the remaining life as closely as possible.

When a component is placed into service, the first estimate of remaining life is likely to be based upon a warranty, manufacturers’ representations, contractor estimates, cost estimating database, or common industry practice. You may, in fact, have different estimated lives from each of these sources. It means you’ve got to make a decision as to which estimated life you choose to use for your reserve study. This life is known as the useful life and the period of time is known as the normal life cycle or replacement cycle, as virtually all components are anticipated to deteriorate over a period of time known as their normal life cycle.

As time progresses, the condition of the component will change, and perhaps not in accordance with the original estimated life. This, again, is normal, as components rarely deteriorate exactly in accordance with the estimated normal life cycle. That means the estimated remaining life may be adjusted in each reserve study after the component is placed into service. That’s not likely, but it can occur. One of the primary reasons for performing the component condition assessment as part of a reserve study site visit is to determine the estimated remaining life of each component. Again, this may be accomplished in several different ways.

  1. We, as reserve preparers, ask you (or your maintenance staff, support vendors, or contractors) what your future plans are for major repair or replacement of each significant component. As an example, it does little good for me to assume that a roof with an estimated original life of 40 years that is now 15 years old (and therefore should have a remaining life of 25 years) is going to reach its full lifecycle when you already know that you have significant issues due to either product failure or improper installation, and that you are estimating you need to replace the roof within the next 10 years.
  2. We ask you about your current maintenance activities and any factors (such as excessive use or extreme wear and tear) that exist that may impact the remaining life of each significant component.
  3. Based on our own observations and experience, and with knowledge of when the component was placed into service, we evaluate the condition and form our own estimate as to the remaining life of each significant component.
  4. We inquire about warranties and product quality (which is not always evident from visual observation).

Clearly, judgment comes into play in making the remaining life decision based on any of the methods above.

Since the reserve funding requirement is a function of the aggregate remaining lives of all components combined, the more accurate the remaining life estimate, the more accurate the funding plan will be. For those associations that use a baseline funding goal, any significant reductions in estimated remaining lives can plunge you into special assessment territory. That is one of the reasons why our reserve study company continually recommends against using a baseline funding plan. It simply leaves you no room for significant changes in remaining life or replacement cost.

A caution here – many times we have gone on site for the first site visit of an Association that is a new client for our Company and, as we have our initial discussion with Association management and maintenance staff, are told that they intend to repave the streets (or pick any other reserve activity) simply because the prior reserve study says now is the time to do it. That’s putting the cart before the horse. The reserve study should be based on your maintenance plan, and your maintenance plan should be based upon operating maintenance activities and the physical condition of the components. While the reserve study may be the financial representation of a maintenance plan, it is not itself a maintenance plan. Don’t confuse the two.

5 Important Things Every Condo Should Have

The demand for condos is still high and a good number of developers are making them available to meet with the market demands. New condos come with better amenities, units and benefits and they are not really equal. Some are better than others, but there are things or features that you can use to be sure that the condo you are interested in is really worth the money you are going to spend on it.

1. Good location

To many people, location seems like a cliché but it is something that still remains to be very important. If you are looking at a long time investment with your condo, then you cannot afford to overlook the location. The location should work in terms of family needs, culture, career and relaxation. In essence, a good condo will be located in the area that you love and one that is most convenient for you.

2. Luxury

It is amongst the things that make condos loved and above normal housing units. Luxury units tend to appreciate much faster and keep their value; hence you know that you have made a good investment in a good luxurious condo. When checking your options, make sure that you consider the landscaping, interior features and even the building materials used just to be sure of the quality that you get.

3. Privacy

Condos are part of a larger property, meaning that there will be several units in one block. But this should not in any way compromise your privacy. Good developers are thoughtful, even where the walls are shared between the units by putting soundproof walls and intelligent layouts that ensure every unit enjoys a good level of privacy. When looking for the best unit, consider what noise reduction measures have been put in place, what the balcony looks out to and every aspect that touches on privacy. It can really make a difference when it comes to truly enjoying your condo.

4. Modern amenities

Today, amenities go beyond luxurious sitting spaces and appliances. A good modern condo will have other important amenities such as fully equipped fitness center, internet, sheltered parking, garden, pools and others that really make life comfortable and convenient. Some properties are designed so well that they come with mini shopping areas for the convenience of the residents. Find out what your condo has to offer you beforehand in terms of amenities made available.

5. Reliable security

It is amongst the most important and you should feel absolutely safe when within or away from the property. New modern condos have everything taken care of from surveillance camera systems to high tech door lock systems and electric fences among others. Even if the property is not gated, it should at least have reliable security solutions for all tenants. You do not want to ignore the security levels of the property because compromised security can give you sleepless nights and restless days. A good condo should give you peace of mind as far as your safety and security goes.

Why Do You Have To Pay More For A Downtown Condo?

Location Matters

There is no question condos for sale downtown are in the prime location where everyone wants to be. Anyone involved with real estate will tell you location means everything. It can give the buyer the mindset of a prestigious condo. They are going to be proud to call this area home.

From a seller’s point of view, there is a perceived value that condos for sale downtown are going to bring in more money. They are confident they can get a buyer paying a very good price for it. You can’t blame them for trying to get the most money they can for the property they are going to sell.

Convenience

Being very close to parks, public transportation, places to eat, and fun activities offers condos for sale downtown a way to be very convenient. If you like to be able to access everything around you in very little time, this could work well for you. Think about how you will get to work, where you like to hang out, and other factors.

The ability to have so much right there for you in no time at all may be well worth the extra price to you. Of course, you have to think about the constant amount of people and the noise all around you. Are you willing to trade off some peace and quiet for that convenience?

Newer Condos

Being able to invest in one of the newer condos makes sense. It is wise to buy a place that hasn’t been lived in long by others. This often means it is in better condition, has newer technology, and it is less likely anything is going to need fixed or replaced soon. Some of the condos for sale downtown are recently built and some of them are sold before they are even finished.

You can actually buy one before they have gotten the materials on site to complete the construction. With such a purchase, you often get to select the colours for the interior and other design elements. It can be fun to live in a place no one else has before. It is also exciting to get to pick certain features you know you will love to have in it.

Perks and Space

There may be certain elements you want with your condo so make sure you use filters when you search. It doesn’t make sense to settle for less than you really want and then regret it daily when you see the place. Make sure you it has enough space too so you don’t feel cramped. Think about your needs now as well as what you may need for space a few years down the road.

Investment Return

There is no reason to think you can’t resell one of the condos for sale downtown either in the future. In fact, it is this forecast return on the investment than make prompt you to buy one right now. This area continues to be one where people are interested in living. There is no reason to think that is going to change in the future either.

Being able to enjoy the condo now is very important and so is being able to afford it. However, knowing when you are ready to move to a new place you won’t have trouble selling this one due to where it is at should be very encouraging.

5 Tips That Help You Pick An Awesome Ski Lodge Every Time

Planning a ski vacation can be a stressful process, especially when considering the many lodging options available. One of the most crucial aspects to a ski trip is, in fact, choosing the appropriate ski lodge. Take a look at the following five tips to help you pick an awesome ski lodge every time:

1. Look for a ski lodge that accommodates your particular party.

It is important to realize with whom you will be traveling. Will your family accompany you? Will your party include children? Lodging options vary widely and finding the perfect fit depends upon the size and age group of your party. Choosing a ski lodge that offers condominium-style apartments, as well as hotel rooms and larger living arrangements can suit just about anyone’s needs. When in doubt, simply call the prospective company and tell them about your travel party. A lot of hotels have privately owned and leased rooms, so chances are, you will be able to find something to accommodate your particular needs.

2. Consider a condominium-style hotel, regardless of your budget.

Some ski lodges are based around a business model wherein different companies and individuals own separate units within the hotel. This is a great option for travelers, regardless of their budget. These types of lodges offer a variety of rooms, including lofts, condominiums, suites and rooms. Generally, this type of hotel will have something for everyone. Look online for reviews of individual rooms, as opposed to the ski lodge in general, as all rooms are not equal.

3. Pay attention to the amenities offered.

When planning your trip, it is important for you to decide whether you are searching for a rugged mountain experience or a luxurious getaway. Search online and call in person to preview the amenities available at a resort. Amenities are perks, which hotels offer visitors and can include swimming pools, nearby spas, Jacuzzis, rides to the ski lifts, etc. Bonus tip: Do not rule out certain options just from online searches; call the manager and ask about things that you feel will be important to you.

4. Scope out available activities.

If you are planning a ski trip, chances are, you will be interested in the ski atmosphere, such as the ski slopes, lifts and weather conditions. It is, of course, important to find a ski lodge within close proximity to a great ski site. However, to truly enjoy your vacation, do not neglect other available activities in the area. Most likely, you will not want to hit the slopes every day you are present. Most people need a good break, if only for a few hours. Check out the extracurricular activities in the area, including festivals, spas, historical sites and hiking. An area rich in history can be a great option for travelers.

5. Don’t Forget About Day Trips

Much like tip number four, many people are surprised to find that some areas offer great options for day trips, which can be a welcomed break from the physical exertion of skiing. Check with the concierge or management of any potential ski lodges to determine opportunities in the area for a great day trip. Taking a step off the beaten path can lead to some fantastic memories; don’t be surprised if a day trip becomes the hi-light of your ski trip!