One of the basic needs of man is a roof over his head, and perhaps this is why we make a great deal of fuss over home ownership. When you have a house to come home to, when you’re able to pay your mortgage without too much difficulty, life certainly seems good. But there are those who have to look for rental options from time to time, either for personal or work-related reasons. And when such needs arise, a serviced apartment is worth much more than just any rental accommodation option, because:

• It feels like home: When you’re a corporate employee who is always on the move, you tend to rely on the tired of living in hotel rooms all the time. And this makes serviced apartments a boon to the weary traveler, especially if you have to stay for a certain period of time in locations of work. The extended period of stay makes hotel rooms an expensive proposition, whereas serviced apartments come with all the comforts of home. You can even bring your family to stay with you, thus saving yourself from coming home to an empty hotel room at the end of a long and tiring day.

• It is cost-effective: When you rent a serviced apartment, you can cook your own meals, even if they are simple ones like a bowl of cereal or eggs and toast for breakfast. You save a ton of money on food bills at restaurants and other miscellaneous expenses spent on snacks and drinks. You don’t feel like a stranger in a new place when you’re enjoying home-cooked meals in your own place. And with no room service to depend on, you cut back on the tips you have to shell out too.

• It comes fully furnished: Serviced apartments are better and more advantageous than a normal rented apartment or condo because they come fully furnished. This means you don’t have to waste time and money in looking for and equipping the place with appliances and furniture. Most serviced apartments come with basic necessities like a television, refrigerator, utensils and other knickknacks that you need for day-to-day life.

• You can entertain friends and colleagues: Serviced apartments allow you to play host to friends and colleagues even in strange locations. You are not cramped for space like in a hotel room and this means that you are free to enjoy social visits with your friends. A serviced apartment also offers more privacy and comfort than a hotel room.

When looking for a serviced apartment, check out the locality and costs before you sign on the dotted line. Ask the right questions so that you’re able to find the right temporary home for you.

By-line:

This guest article was written by Adrienne Carlson, who regularly writes on the topic of construction management degrees . Adrienne welcomes your comments and questions at her email address: adrienne.carlson83@yahoo.com

Vikas Rikhye, Real Estate Blogger and Gurgaon Property Expert

This is a guest post by Mr. Saurabh Dhawan of India Medi Treat. You can get in touch with him at saurabh [dot] 3767 [at] gmail [dot] com.

Growing demand of Studio Apartments in Gurgaon ,calls the attention of Prominent Builders in Gurgaon to cater the needs of this segment of Affordable housing.

“A Studio Apartment also known as a Studio Flat is a self contained spacious room consisting of a living and sleeping area having an advantage of kitchenette & attached bath, is considered as efficient apartment, designed as a residence of one or two persons”

The Studio Apartments have the following distinct be:

• Like minded Community living
• Space/ cost effective
• Low maintenance cost
• Secondary property for short/long visits

The concept of Studio Apartment is picking up very fast amongst the following:

• Working women
• Students
• Middle cadre Single executives
• NRIs [Secondary property for short/long visits]

To invest in Studio apartments, it is becoming a favorite option for investors who wish to make small investment in residential property, for rental returns.

Since Unitech and DLF are the “Trend Setters” & if they take an initiative of introducing Studio Apartments in their future projects, that will not only help in meeting the existing demand, but it would also motivate other developers in the market to Follow the set trend to meet the increasing demand of future as well.

A sizable inflow of Studio Apartments, would give a big respite to the existing & Future demand in segment of Affordable housing.

Vikas Rikhye, Gurgaon Property Consultant and Blogger

• More Spacious
• More privacy & personal freedom
• Cost effective
• Ideal for Executive Relocation
• Ideal for cultural adjustment

In last one decade Gurgaon has witnessed the presence & growth of Multinationals,
with all around progress it has resulted into immense potential / scope for “Service
Apartment”.. Besides the aforementioned reasons , the increasing trend of Medical Tourism in Gurgaon has added positively to the scope of Service Apartments in Gurgaon

With increasing demand of Service Apartments, several property owners have entered into this business & organized sector in this field, are increasing their capacity by outsourcing apartments

Some of the Service apartment operators are following a module, where they hire out an apartment on ***MG Basis and after furnishing the same they put it on their Net-work. {Net-work that take care of its Marketing & Maintenance}

Moreover few Real Estate Brokers in Gurgaon, who specialize this field are also instrumental in organizing deals on MG {***Minimum Guarantee}basis, as in this module, every one stands to gain.

The present trend in this field indicates the sings of a great potential & growth.

Vikas Rikhye, Gurgaon Real Estate Consultant and Blogger

• Affordable Homes: Keeping in mind sky-high prices of land in Gurgaon, the price offered seems to qualify the category of Affordable Homes.
• Better Options : The offers provide of One, Two & Three Bedroom apartments.
• Easy Payment Plan: Projects being “Bank approved” have the option of housing loan with EMI repayment facilities .
• Gurgaon Master Plan 2021: Projects falling in line with “current development plans” of HUDA are right choice.
• Landscaped greenery, Security, Club House, Gymnasium & other essential services remain a common factor.

The following are some of the New Residential Projects in Gurgaon:

Uniworld Resorts by Unitech

Just off the NH-8,located on Sector 33 & 48 by the side of Sohna Road offers the options of 1BR+Study 825sq.ft 2BR 1060-1100 sq.ft,3BD+SQ 1535 &1545 sq.ft. Price Starting from (INR) Rs 36.08 Lacks & above.

Emaar MGF

Emaar MGF a JV between Emaar PJSC of Dubai one of the world’s largest infrastructure & Real estate development company and MGF, a well known name in Real estate sector in India, now presents low rise “Emerald Floors” at Emerald Hills in Sector-65 on extended Golf course road Gurgaon.

Offer: Choice of Independent Floors on Two different plot sizes as follows:
Plot Size- 267. sq.yds 3BHK, 3Toilets + SQ
Plot Size-350.sq.yds 4BHK ,3 Toilets, Family Lounge +SQ
Price :Rs 44.40 onwards

Some other New projects:

• Pioneer Urban - “Pioneer Park” Sector-61
• “Tulip Orange”. Sector-69-70
• “Centrum Park” Sector-103

In the current scenario, when companies are offering lucrative incentives & commissions , it is more important to check all the facts about the property/ promoter, than to be carried away by small temptations.

Vikas Rikhye, Real Estate Gurgaon Blogger

Almost five years ago ,the Government of Haryana had put a ban in Gurgaon,on “Registration” of property falling under the category of Builder Floors/ Independent Floors (eg: Three Independent Floors built on Single plot) & it resulted into the following:

• Sale of Builder Floors/ Independent Floors carried out on GPA{ general power of attorney }, an unsafe property ownership title for the buyer.
• As GPA is not considered to be a legal instrument, the buyers would not get bank finance.
• The Government’s loss of revenue in terms of Registration charges & Stamp duty.

It is understood that after conducting in-depth study in this matter the Government has finally legalized the registration of “Builder floors/ independent floors”, constructed on plots by plot owners in colonies developed by private builders such as DLF,Unitech & Ansals etc. as well as colonies developed by Haryana Urban development Authority {HUDA}

It is further understood that in this recent directive the applicants may have to pay 1% of extra Stamp duty, covering the cost of ” Infra -structure up-gradation”
With this vital decision, it not only provides a sigh of relief to the owners of such properties, who have transacted the purchase on GPA{ general power of attorney }, but it has also generated positive results as following:

• With Registration, buyers of such properties will now become legal owners.
• Availability of bank loans.
• Gearing up/ boost in “Guraon Real estate” as the builders will be encouraged to build more of Independent floors considering the large demand for Independent floors.(with latent advantage of sale purchase of plots, positive improvement in “real estate prices in Gurgaon”)
• Over all benefit to the Government revenue growth.

The real-estate experts feel, that this decision, shall help towards mobilizing positive growth in the present sluggish real estate scenario.

Disclaimer

The Author is a freelance Blogger and real-estate consultant,The readers are advised to do their own research & analysis before taking any action. The author is not responsible for any consequence good or bad . The author is only delivering his views & inviting response in the way of comments/views from the readers.

 Vikas Rikhye, Real Estate Gurgaon Blogger

Land Prices in Gurgaon In early 2005 the land prices which were quoted @ Rs 10000-15000 per.sq.yd had seen its peak of more than Rs.50000-55000 per.sq.yd by the year 2007-2008. Whereas now in the present scenario more then 35% fall in price seems to have been recorded. The experts feel that more then 25% correction on present prices is still expected in next 4-5 months

This “U -Turn Trend” is visible, in other “Gurgaon real estate” related fields/ activities, as well.

Gurgaon Shopping Malls:  With original booking price of Rs.6000-7000 per.sq.ft, during peak time, the figure had touched the price of over Rs20000-25000 per.sq.ft. As on day the investors of Shopping Malls in Gurgaon feel a fall of over 30% in some cases, with a further correction in coming months. Unfortunately in some of the Malls, the investors are willing to sell on the purchase price.

Office Space in Gurgaon: In the year 2004-2005,In a good “Glass–curtain building” , the rent quoted was in the range of Rs 40-45sq.ft finally reaching a figure of more than Rs 125 per sq.ft by the year 2008 With the recent Melt-down, fall of over45%, has been recorded.

Residential Apartments in Gurgaon : There is a massive correction is being felt in this segment as well. Taking the year 2004-2005, as a base when “Apartments in Gurgaon” were launched at a basic price of Rs 1500-1600 per sq.ft had reached the the height of over Rs 5000 per sq.ft by the year 2008, have suffered a correction of over 40% fall in basic price. And the” New Housing–Projects in Gurgaon” are being launched @ Rs.2800 per sq.ft

Builders and Developers in Gurgaon: The Global meltdown has very adversely effected this segment of real estate as some of the prominent builder are almost at the point of insolvency.

-Even, some of the Prominent builders have put their existing Projects on hold.

-Whereas ,some of the “Builders in Gurgaon” seem to have abandoned their projects.

-Some of the construction sites are giving deserted look. All as stated above has left the investor in the state of fear & confusion

Real estate Agents in Gurgaon -Real estate Brokers in Gurgaon In the year 2005,there had been sudden increase in number of Brokers in Gurgaon ,as every one could see a big boom in real estate with rewarding result.& during the peak time Professionals like Doctors & qualified Engineers had been seen ,adopting Real estate Agent as profession.

But with recent slowdown & recession, this segment of real estate is equally effected & a large number of “Brokers in Gurgaon” have left this profession , while many others are exploring alternate avenues of employment.

In present scenario of recession “U -Turn in Real estate Gurgaon” was inevitable

Disclaimer: The Author is a freelance Blogger and real-estate consultant, The readers are advised to do their own research & analysis before taking any action. The author is not responsible for any consequence good or bad. The author is only delivering his views & inviting response in the way of comments/views from
the readers.

This a Guest Blog Post by Mr . Saurabh Dhawan. Saurabh is 22 years of age and is pursuing MBA from IIPM. He can be contacted at saurabh [dot] 3767 [at] gmail [dot] com.

With the passage of time the definition of luxury has changed in the last decade. Every product has its own market from guest houses to hotels to luxury hotels everyone has its own niche market to offer. Service apartment is one such type of market which is a growing market with a good demand in Metros and is being catered by Hotels and Guest houses. A service apartment is a furnished residential space which gives a homely look and has all the facilities from a fully furnished modular kitchen with all the cooking utensils, refrigeration, cooking gas, home appliances to other useful utensils in the kitchen. In the room it has Home Theater along with heating or cooling systems and other utilities which are generally found in a home and also telephone and internet connectivity. In certain cases security and power back are also prevalent. In short it is a home away from home.

The concept of service apartment is quite prevalent in western countries but it now coming up in India. Service Apartments are generally taken by corporates who have to stay for longer duration in India. When these corporates come to India they face some problem with culture, environment and food. The foreigners who come to India are not able to adjust themselves to the local food and environment and they are not able to enjoy the lifestyle they are used to.

This is where a service apartment comes to there rescue. These foreigners can cook their own food, maintain their own apartment and can also be provided with domestic help in India which is relatively cheap as compared to western countries. This helps them to feel like home and enjoy their stay in India with the best of health and spirits.

Service Apartments have a great future in Delhi NCR because it is a BPO and MNC hub, NRI tourism destination and an important diplomatic destination in South Asia.There is a constant increase in inflow of business travelers and tourists which are increasing year on year and the Medical tourism boom in coming years will supplement these demands as a service apartment can give feel of a home to a patient who can enjoy home cooked food after and before treatment.

The tariff of a service apartment can vary with the duration of stay by a traveler. Tariff for a service apartment can start from Rs. 7000/- Per month to Rs. 300000/- Per month depending on size of apartment and the level of luxury offered in the Apartment. The tariff generally includes the maintenance and water bills but may or may not include the electricity bills for the apartment. In all a service apartment have a great demand ahead in India