City Properties

09/09/2017

06/12/2016

Launching new project @ Manjari very soon
1 & 2 BHK Flats & Row Houses with all amenities at reasonable price. For Prelaunch offer contact City Properties 7769972227

06/12/2016

Launching new project @ Manjari very soon
1 & 2 BHK Flats & Row Houses with all amenities at reasonable price. For Pre launch offer contact City Properties 7769972227.

11/11/2015

City Properties wishes you and your family a very happy Diwali.

11/09/2015

Urgently required Marketing Executives in fast growing real estate company.

Qualification: at least Graduate MBA preferred.

Compensation: good salary with attractive Incentives and Mobile and travel allowances.

Should have a 2 Wheeler.

Experience will be an added advantage.

Please contact City Properties for more details.

Request you to please refer if you have any friends who are looking for an opportunity.

26/02/2015

Buying a home? Here are 5 things to expect from Budget 2015-16...

The upcoming budget is important for many industries in India, especially for the real estate industry which is looking for much needed incentives, relief and interest rate cuts from the finance ministry. Developers are looking for announcements that will boost market sentiment, stakeholders are looking for REITs to be fast-tracked and home buyers are looking for better home loan options and affordable housing. Indeed, ‘affordable housing’ is expected to be one of the most important points in the upcoming Budget, with ‘housing for all’ expected to be the norm by 2022.
In fact, there is huge demand for houses that are priced between Rs.20 to Rs.40 lakhs. The rapid urbanization and congestion has led to many satellite cities, SEZs and integrated townships coming up and there is huge demand for residential spaces in these cities. The Planning Commission states that 600 million Indians will live in the cities by 2030 and that there will be a huge shortage of affordable homes.
Here are some of the provisions buyers can expect from the Budget.
The year 2014 saw a slump in the real estate market and many hopes are pinned on the budget to set off a recovery in the system. Home loans are expected to be made affordable, with commercial banks presently offering high interest rates that range between 10.15% and 10.40% and cannot be afforded by mid-income groups. Industry experts want the interest rates to be whittled down to 7.5% to 8% at the most. The high interest rates have deterred spending and the demand for houses has fallen drastically, with much oversupply and unsold inventory by the developers. The budget should bring the interest rate on home loans down to between 7.5%-8.0%.
The RBI has also introduced a new methodology to ensure that lower interest rates will translate into benefits for both old and new borrowers. The RBI wants to make the methodology of base rates, which are the minimum rates at which banks can lend money to customers, more transparent.
Another important expectation from the Budget is less taxation on purchase of houses. There are multiple taxes that the home buyer has to pay when purchasing property, including stamp duty, reckoner rates, value-added tax and registration fee. The ready reckoner rates in Mumbai, for example, have been increasing year by year and the prices are exorbitant in the city. This has been a huge setback for developers in Mumbai and for home buyers, who have to pay registration costs as high as 6% of the property price. Reduction of these taxes by a few base points will be a huge shot in the arm to the real estate industry in all major cities. State governments should reduce stamp duties and a slab based taxation system seems to be much needed.
Apart from this, the industry is hoping that the government passes the Real Estate Regulatory Bill and the much needed ordinances to the Land Acquisition Act. The Real Estate Regulation and Development Bill is being drafted by the government, to keep check on real estate activities and developers.
Expectations include more tax benefits to home buyers, who can possibly claim Rs.2 lakh deduction on interest for home loan, as against the lesser rate of Rs.1.5 lakhs. This is expected to get more buyers interested in purchasing properties. Section 80EE, which allowed a Rs.1 lakh exemption to first time home buyers, no longer exists starting from this financial year. Therefore, to make up for this, the government is expected to announce tax benefits on home loans and special packages for first-time buyers.
Overall, reforms in the manufacturing sector, focus on infrastructure and REITs and infrastructure investment trusts will also be conducive to the real estate market this year.

31/10/2014

why invest in Undri?

Undri has always been a logical residential property destination in Pune, but for many years it lacked the required infrastructure. However, as NIBM Road became increasingly saturated, Undri started to come into focus. The revival of demand from the city's manufacturing and IT sectors helped to encourage developers to concentrate more on this area. Locations like Undri are ideal for offering residential options to these segments and at the same de-congesting the main city. The area, which is also temptingly close to Pune Camp, is now developing rapidly, and it is becoming a hotspot for residential property investment.

Undri has the advantage of being well connected to various key localities in Pune via various local and interstate highways and expressways while retaining its serenity. It has dense green cover protected by Government regulations. Proximity to Wanowrie and NIBM gives ensures that residents in Undri have access to all necessities of daily living. It is an ideal residential real estate location, and one of the few in the more central part of Pune which still offer the city's laid-back natural charm at affordable rates.

Home buyers as well as investors are very enthusiastic about this location, which offers cost-effective housing options to employees from the close-by IT/ITeS companies. with the widening of the The Katraj-Kondhwa-Phursungi-Solapur highway, Undri's all-round connectivity is going to increase dramatically. Moreover, it will soon be completely included within the Pune Municipal Limits, which will boost infrastructure development even further.

30/10/2014

30/10/2014

Why Invest in Mohammadwadi?

Pune Over the years Mohammadwadi has evolved as one of the ideal places of residence in Pune with peaceful environment and a good scenic view, having hills around it. Mohammadwadi is basically a residential area and has very few commercial offices. Hence it is very calm and peaceful. Sujay Kalele, Vice President (Business Development), Kolte-Patil Developers says, “Being a largely residential area, Mohammadwadi is very peaceful. It is popular and in demand mainly because it is close to the city.” Avers Ashok Kumar, Principal and Managing Director, Cresa Partners-India says, “Pune is growing in all directions and is one of the fastest project growth centres, hence potential is good in this area. Closeness to Pune Camp will always be an advantage.” About a decade ago, development had just started but it has accelerated in the past few years. Kumar says, “The growth and development has picked up in last many years due to nearby location of Salunkevihar, Kondhwa and Wanworie.” Radhika Goyal, a resident of Mohammadwadi says, “My husband works in Hadapsar which is quite close. Also the residence of this area have easy access to a lot of IT Parks as they are close and therefore a lot of people from various parts of Pune have shifted here. Moreover, it is an added advantage for the young generation job seekers because of the close proximity to the IT Parks.” Talking about the property prices in Mohammadwadi, Kumar says, “While about ten years ago the price of residential property was Rs 950-1200 per square feet, the rate of residential property now is Rs 2750- 3300 per square feet.” Overall, the connectivity is steadily improving. The main street is just seven and a half kilometers away from Mohammadwadi. The connectivity through Cantonment is fantastic. Besides, over the years even social infrastructure and other facilities have improved. Even the entertainment and retail industry has also grown substantially and has become more vibrant. Since it is located in the southeastern part of Pune, Mohammadwadi is blessed with a strategic location. It is also wellconnected to key places in its neighbourhood. This locality is well connected by Kondhwa Katraj Bypass, Solapur Highway as well as Mumbai-Bangalore Expressway. The locality has good linkages to airport through Hadapsar-Kharadi Bypass. Also, it is well connected to suburbs, work centres, artery roads like Pune-Bangalore (NH4), Solapur (NH13), Saswad road and so on. Goyal says, “My husband has to travel to Mumbai atleast three to four times a month for his professional commitment and the Bangalore Expressway through Katraj has made his journey easy and comfortable considering proximity to this highway from our home.” All necessary social infrastructure like schools, hospital, recreational club, gardens is present here. Some of the best schools like DPS, Bishop Cotton, VIBGYOR among others are located here. The Corinthian Club and Country Club are popular landmarks. Goyal says, “Noble Hospital and the HV Desai Eye Hospital are close by. There are decent super markets here which take good care of the daily needs of the residence. For other shopping, we prefer NIBM road which is again close at hand.” She further adds, “A lot of students studying in the nearby institutes opt for renting homes in this area.” The locality has observed lot of residential development and local developers namely Kolte Patil, Nyati Group, Dorabjee Developers have already completed major residential projects. There are many high-end projects coming up in Mohammadwadi. Some of the major completed residential projects here include Nyati Country, Hills and Dales by Kolte Patil, Dorabjee Paradise, Clover Hills among others. Kalele sees a lot of opportunity in this area. He says, “We launched our first project in 1994 and have completed about seven projects and have three ongoing projects namely Margosa Heights, Allura and Maple Leaves.” According to Kalele, people with all kinds of budgets can buy a home in Mohammadwadi. He says, “Mohammadwadi is fast shaping up as a destination for premium and affordable housing in Pune. Besides 2/3/4 BHK apartments, even bungalows are available in this area. Therefore for people with a budget of approximately 30 lakh to two crore, this place is ideal.” Avers Goyal, “Mohammadwadi in itself is a complete suburb with all necessary infrastructure and amenities required. Also it has some of the best housing projects considering the fact that a lot of top developers of Pune are principally active in this area. For those with bigger housing needs, this is an ideal place because Mohammadwadi is one of the few areas in Pune where there are a lot of exceptionally gigantic homes available.” With lot of projects already on and yet other being expected to kick start sometime soon, Mohammadwadi is all set to become a prime locale in Pune in the coming years.