Tuesday, April 29, 2014

ND Passion Elite Located at Harlur Main Road (Off Sarjapur Road), Bangalore 3BHK & 4BHK Apartments for sale.

ND Passion Elite Apartments Area Range : 1330 to 2880 sq ft., Located at Harlur Main Road (Off Sarjapur Road), Bangalore 3BHK Apartments & 4BHK Apartments.

Description:

For those who prefer to inhabit in a privileged world, the address has finally arrived. Experience the wonderful balance of architecture, design features and aesthetics at N.D. Passion Elite. A panoramic sweep of luxury condominiums on Harlur Main Road (off Sarjapur Road), created with passion and inspired by you. The built-up area occupies only 28% of the total 3 acres affording abundant lung spaces. Vehicular access is restricted to the project periphery allowing residents to safely traverse the community areas. Ample basement and stilt level parking decongest the surface of the site. N.D. Passion Elite comprises of 5 blocks with basement + stilt + 8 upper floors featuring 3 / 4 Bedroom apartments and 4 Bedroom penthouses.

Area: 3 Acres
Number of Flats: 147
Location: HARLUR MAIN ROAD (OFF SARJAPUR ROAD)
Number of Bedrooms: Three & Four



The impact of global recession is far reaching. It has brought slump in the stocks and shares market, lost employment opportunities to a large segment of people, there is collapse of software industry, insecurity of employment in I.T. industry, lesser purchasing power on account of reduction in wages, strict vigil and restrictions in the lending activities by banks and financial institutions, slump in real estate market and so on. 

Because of the global economic recession all the fly by night operators who were instrumental in the artificial rise in the price of properties in Bangalore regions have disappeared from the scene and only the reputed property developers are left in the field.

Present trend in real estate market The purchasing power of a large number of I.T. employees has come down to its lowest level because of under-employment or unemployment in the I. T. sector, and there is no demand for properties from this category of people. Even the persons who have made some investment in real estate are trying to wriggle out of such property dealings.

This unprecedented development has put the property developers in a fix. They are compelled to sell their properties at lesser price than the rates at which they had originally quoted. The property developers have to pay principal and interest on the money borrowed in addition to other liabilities. To save themselves from this situation, the property developers have now started offering discounts ranging between 20 to 30 per cent on their quoted prices and also freebies to allure the prospective buyers.

Prior to global recession, the property developers were dictating the terms to the purchasers. The Investment purchasers were at the mercy of flying property developers and had to line with the terms and conditions of the developers. Not only this,  the developers were unavailable for discussion and negotiations for the purchasers and the purchasers had to be satisfied by holding discussions with the marketing staff of developers.

Now, the trend is the other way round. Developers do wait for the purchasers, treat them with respect and entertain them with good hospitality so that at least they could market few of their apartments to meet their ever increasing expenditure. In order to save the real estate sector from collapsing, the Reserve to globalization and the swift development of Information Technology in India, many international companies have set up their offices in major metros and also have started looking at India for their specialized service in this technological field. Thus employment opportunities in the country grew up considerably. To keep up the time schedule and prompt execution of work, these Indian organizations have started encouraging the technocrats and other staff with best pay pockets.

The growth of Bangalore regions as the International Information Technology Hub has attracted a large number of people not only the Indians residing within the country but also the foreign nationals. Thus, the purchasing power of a large number of youngsters have gone up very steeply who have started searching for safe and secure investment routes.

Bank of India has directed the commercial banks to grant housing loans at the reduced rate of interest which is around 8 per cent per annum. Dull Market Despite this, the people are still not persuaded and are awaiting for further reduction in the value of properties. Not only the developers are finding it difficult to market their apartments, even the individual property owners who desire to dispose of their property are finding it difficult to get prospective buyers. Only the individual owners who are in dire need of money and who are left with no option but sell their property are selling their properties by offering discounts ranging between 20 to 40 per cent of the market price.

Presently, supply is more than the demand as for as real estate market is concerned. Effect of globalization Prior to the year 2000, the real estate scenario in Bangalore 5 regions was totally different and the property dealings were very nominal. But due policies, mutual funds have become unattractive due to lesser return on investment and because of failure of many companies while the stock market is found to be unpredictable and volatile. Moreover, these investment avenues are for short-term which need close monitoring requiring the services of specialized investment advisors though the investment could be small. This leaves us to consider the option of investment in real estate

The desire of a large number of IT. young personnel to own a roof over the head at the early stages of life with high purchasing power and the migration of rural people to Bangalore in search of assured income jobs has increased the demand for properties in Bangalore considerably. Added to this, the incentive given by the Union Government by way of exemption of the interest paid upto Rs.1,50,0001- on the housing loan from the tax net in addition to other already available incentives and exemptions also Investment options Investment options are many. 

But the investor should be prudent and select a proper sector which is safe and secure with assured reasonable return. Earlier, bank deposits, stocks, mutual fund, insurance policies and bullion were the preferred options. But now, Bank deposits, insurance motivated these high salaried people to concentrate on investment in real estate. Real estate sector The investment in real estate is high yielding and a long term.


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