Affordable Houses Doesn’t Compromise With Luxury and Quality

With the launch of Sovereign Unnathi by Sovereign Developers and Infrastructure Limited (SDIL) middle and lower middle class families dream to own a house in Bangalore has become true.

Sovereign Unnathi spread over 12.5 acres comprises of 26 high-rise buildings with more than 1600 2BHK flats of size 856 sq. ft. and is located off Hormavu-Kalkere road in North Bangalore.The cost of the flat is priced reasonably including taxes, car parking, and registration.

Buyers are given with favorable payment options like paying an advance of Rs.1 lakh only at the time of booking and Rs.1.5 lakh at the time of signing the agreement.

This project is equipped with state-of-the-art amenities and world-class facilities like gas piping in kitchen, amphitheater, indoor games room, badminton, tennis court, swimming pool with toddlers’ pool, gym, spa, children’s play area, landscaped gardens, fire-fighting sprinklers, high-speed lifts and many others.

All bedrooms are designed gorgeously with vitrified tiles or MDF wooden flooring and anti-skid ceramic glazed tiles in bathrooms, two balconies, granite kitchen platforms, and windows glazed with aluminum three-track light grills. Other facilities include round-the-clock security, a sewage treatment plant (STP), and is ideally located that connects other parts of city like Majestic Bus Station, City Railway Station, Ring Road, Byappnahalli metro Terminal, M G Road, Cantonment Railway Station.

Within a month all the flats were sold out successfully, which has encouraged SDIL to come up with similar projects in other parts of the country like Chennai, Delhi, Bhopal, and Mumbai.

Go through Sovereign Developers Reviews websites to read the customers' testimonials.

Buyers Bear Burden Due To Lack of Real Estate Fund

Due to general elections 2014, construction activity has reduced as most of the builders are funding to support the election campaign and also several real estate companies are being affected by the slowdown in country’s economy.Hence, builders are cash-strapped and because of which many projects have been stuck and delayed in completion. Considering past elections, the real estate industry would have funded more to the present general elections and one of the real estate consultants says that huge amount of cash that does not fall in account would be funded to elections from the real estate industry.

According to a report by Association for Democratic Reforms, about one-sixth of fund has been donated by real estate, power, and oil firms during 2004-2005 and 2011-2012. The downcast of real estate sector in the last half of 2013 and in the first quarter, many builders are unable to fund the general elections.    

The compelled funding to elections and the effect of depressed economic has cut down the progress of current projects leading to the delay in completion of projects especially those projects that were started during the approaching elections.This is likely to affect the buyers with possible delay in possession and loss of interest on investment.

It is also anticipated that few major builders would raise the property price post-election in order to produce fund for their upcoming projects and also small builders are likely to follow the same. Buyers are advised to be cautious for such price increase post elections.

Some large builders might increase the property price just after the elections in order to generate revenue for funding upcoming projects. This move might encourage small builders to follow suit. Buyers should watch out for such price rise sometime after the current elections.

An optimistic consequence for industrial growth in India in the current elections would boost investments and many rise property prices in India and drive national and international investments into the real estate sector.

The schemes of some parties also talks about proposed investment of $1 trillion in infrastructure in the next decade to add international standards and quality to the infrastructure developments in India that will boost foreign investment and will make developers to look beyond residential development projects.

Yet, few prime aspects that would affect the real estate in India like piled up inventory and concentration would not alter post-elections but it won’t be for want of trying. The shortage of fund is likely to reduce the demand for construction resources because of which the value of the resources will decrease and would last for few months post elections.

Hence, it is considered as the right time to buy construction resources for those who have planned to build houses. And, for buyers it is the proper time to buy a property as cash-strapped builders would sell their projects at lower price in order to produce cash to fund election campaigns.

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Prestigious Awards of Sovereign Developers and Infrastructure Limited

Sovereign and Infrastructure Limited is awarded with ISO 9001:2008 (for successfully implementation of quality management system), ISO 14001:2004 (for successfully implementation of Environment Management System) and OHSAS 18001:2007(for Occupational Health and Safety).

Our competitive edge is built into our style of functioning such as, Meticulous Planning, Working round the clock, Quality materials and services, Speed of Execution and Flexibility

In the Real Estate Development we provide Low cost Premium Housing and an Affordable Budget Housing, in the Hospitality Projects including 3 Star to 5 Star Hotels and even into Joint Venture Property Developments

Sovereign Lakeview Luxury Apartment Project

Sovereign Lakeview is one of the under construction luxury apartment of Sovereign Developers and Infrastructure Limited, Bangalore. Go through the following details to know more about the project and official website of the company.

Location of the project: Vidyaranyapura near to Sambhram Institute Campus

Status of the Project: Under Construction

Types of Available Flats: 2 BHK and 3 BHK

Price Range of Flats: 37 Lakhs onwards

Size of the project:  10 High Rise Towers with 28 floors each

Area of the Project Land: 12 acres

Amenities: Indoor Games Room, Swimming Pool with Toddler's Pool, Cricket ground, Party Hall, Well-equipped Gymnasium, Jogging track and more.

Expensive Residential Properties

Residential property prices increases in India, yet less when compared to the other countries in Asia.

The real estate prices in the year 2013 saw a moderate rise but was less when compared with other Asian countries. According to a report by one of the global real estate consultants, Bangalore witnessed rise in property values by 6 per cent and the drive behind this was the demand from end-users. Whereas Delhi and Mumbai witnessed growth by 2 per cent and 3 per cent respectively, which was lower when compared with the average increase in property prices in Asia-Pacific region i.e., 13.5 per cent in the same period.

The world-wide property price comparisons showed that Jakarta saw a surge in property prices by 38 per cent in 2013, while Auckland and Bali saw an increase in property prices by 29 per cent and 22 per cent correspondingly in the same period.

Monaco appeared to be the world’s most expensive city by selling key residential property at (currency not mentioned) 3.84 lakh per sq. ft., which is 11 times more than the cost in Delhi. In India Mumbai emerged to be as the most expensive city by selling residential property at (currency not mentioned) 60,000 per sq. ft.

Though the property value increased moderately, it is observed that most of the Indian high net-worth investors invest in real estate when compared with the global HNIs. The report also mentioned that about 44 per cent of funds are invested in property where the Asian HNIs average of 28 per cent was higher than the global HNIs whose average was 24 per cent.

The property investment is tilted to residential assets and commercial property saw only 30 per cent of its part. The report also revealed that the India billionaires’ population will double in the next decade excelling Asian countries like Thailand and Singapore. It is likely that by 2013 USA, Russia, and China will house more billionaires than India.

The increase in the number of affluent in Delhi and Mumbai will drive the demand in the cities. The report also stated that Mumbai is likely to be ranked in this global real estate consultant’s list of top 10 global cities by 2024.

Read Sovereign Developers Reviews official blogs to know more about latest updates in real estate business India.

Sovereign Unnathi - Affordable Housing Project

Sovereign Unnathi is one of the residential projects of SDIL, which is beautifully planned with 26 towers comprising more than 1,600 luxury and well-appointed flats, yet priced reasonably.

This project is being developed over an area of 12.5 acres and is deliberately placed off Hormavu-Kalkere Road in North Bangalore. This residential project is suffused with many outstanding and novel amenities like lavish indoor and outdoor spaces, sports facilities like tennis court, shopping centers, swimming pool with toddlers’ pool, party hall, well-appointed gym, saloon and beauty parlor, health club and many that will certainly enhance and define new style of living for our residents. 

2014 will See Rise in Supplies of Houses with some Consequence

The residential segment continues to see high demand, which would lead to a rise in rental value by 10 to 15 per cent and particularly IT hubs like Bangalore and Pune, and cities like NCR and Mumbai is likely to witness this.

This year approximately about 6, 59,000 units will supplemented in the residential segment, which is likely to out do the recorded numbers over the past few years.

According to one of the real estate research firms, with meager supplies in consecutive years, the market is moving ahead from last year and the research reports also showed figures that in a committed units of 4, 06, 000 around 2, 90, 000 units were delivered, which is 71 per cent of committed units. In Gurgaon around 67 per cent about 15, 196 units were delivered of the committed supply, in Mumbai 75 per cent around 14, 140 units were delivered, in Noida 49 per cent about 18, 016 units were delivered and in Pune 75 per cent roughly of 44, 894 units were delivered.

Although the supply is likely to rise, the property prices would not be effected but the rental values would rise. One of the industry expert says that the increase in supply is would not affect the property prices as most of the properties are completed or nearly in completion stage and said that rental value would rise by 10 to 15 per cent due to gap between demand and supply.

The demand in top cities of the country like NCR, Mumbai, Bangalore, and Pune is greater than the supply. An executive from a leading developer said that post-election market is likely to get stabilized and the demand may increase further with the companies who had put on hold would come around. Most of the developers are focused on clearing the inventory and have hold on new launches and many developers with few new launches are waiting for post-election results, hoping for new financing and marketing stratagems to clear their surplus inventory.

One of the veteran says that the property prices are likely to rise in the H2 of 2014 due to the decrease in piled up inventory and rising input costs.

The Chief Executive of Prop Equity says that 71 per cent of delivery in 2013 with the slow market conditions is not bad. This shows that developers trying to meet the expectation of both ends by delivering projects on time though the construction costs have increased and interest rates are high.

According to the report of a consulting firms, the inventory level across the country raised for 30 months in the quarter end of December 2013. In which Mumbai Metropolitan Region (MMR) recorded the highest and stood at 46 months. Inventory is considered as the number of months to clear the stock based on the current pace of absorption. Generally, an inventory level of eight months shows a robust market.

One of the expert added that higher inventory are not due to delay in supplies, it is due to highly added supply and subdue of absorption and the fall in absorption is owing to the unsettled economic situations.

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