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
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.
Bangalore properties like Apartments / Villas / Plots / Independent Houses ....
Real Estate Properties are available in Bangalore City.......
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