Friday, April 19, 2013

Inferences from the Mulberry County price list

I was wondering that if someone were to invest a particular sum in a project and in a particular type of flat and that too in a region where there are tens of these projects coming up offering hundreds of variants of BHK units, what inferences can be drawn from their information brochures in general and the price list in particular. Price lists play an important role in making comparisons as do the location maps, localities and the floor plans of a project. For any particular project, such as the Mulberry Country Faridabad, the price list can be used to draw certain inferences and make comparisons with the other projects.



While looking at the Mulberry County price list, the first thing which a person views is the total price of the different unit prices. This brings to their knowledge how much is it actually going to cost them while buying an apartment in the project. Developers do advertise prices of their units on different media but, most of the time, these are the basic sale prices and the actual prices do differ a lot from these advertised ones.
So, the first thing that shall be done is to deduct basic sale prices from actual one in order to ascertain the difference. This difference can be compared with the ones in the other projects for similar units so as to ascertain which one is cheaper than the other.

The second step is to ascertain why this difference exists. So, each head of cost would need to be compared. This would help you to ascertain which heads are more or less expensive than the same ones in the other projects. But, ascertaining this is not the end in itself.

At the third step, you shall also try to establish justifiable reason into the difference of prices of these cost heads. This can be understood with an example. For example, if you find that the parking charges in the Mulberry Country Faridabad are less than that of the other projects, you shall also find out how many cars will be allowed parking in that price and what would be the area of parking. Is it that the more expensive ones are offering parking for more than one car? So, the rationale shall not be lost in order to make proper inferences.

This difference would tell you which units are priced at a reasonable level, assuming that all other things are almost constant. So, the price list helps you to make a better deal by knowing what are charges are reasonable and which are being exorbitantly charged.

2Bhk Apartment in NCR

When we talk about the 1980s, living standard has been changed of the Indian middle class when a small car named by Maruti entered in the market. Before that people used to live in extensive homes with open courtyards, embedded in abundant lanes. The concept of gated communities with 24X7 securities was created when the need for protection of car ascended.Families scooted to obtain the standard two bedroom-hall-kitchen (universally known as 2BHK), at first acceptance in the whole family, and later atomic families with small kids where a third bedroom was not a requisite.

Currently, the demand for 2BHK residential units beats demand for all other housing conformations in maximum cities. Take for example Delhi. As per data from PropIndex, Magicbricks.com’s quarterly index, in the past four quarters, the maximum demand was observed for 2BHK residential apartments and supply pleased this demand. Barring Gurgaon, where inclination slanted towards 3BHK, and most pockets in the city plus growth corridors such as Noida Expressway, Dwarka Expressway, Noida Extension and Ghaziabad saw the 2BHK attract maximum buyer demand.

North Delhi rules the branch when it comes to demand for 2BHK units, exclusively areas such as Pitampura and Rohini. In the Apr-Jun 2012 quarter, 45 per cent demand was registered for 2BHK leading to a deficit in supply. A 2BHK apartment guarantees a good return on investment. These apartments are short on maintenance, yet bring in a good appreciation rate.

Average property price per sq. ft. of a 2 BHK Apartment in Faridabad is Rs. 3800.The average price of a 2BHK in the size bracket of 1,000 sq. ft. in Dwarka would be about Rs. 8,000-10,000 per sq. ft. In MayurVihar, it would cost somewhere between Rs. 10,000-13,000 per sq. ft; Rs 5,000-6000 per sq.ft. in Indirapuram and Rs 4,500 per sq. ft. onwards in Noida Expressway. In Pitampura and Rohini, the values start at Rs. 12,000 per sq. ft.forwards.

Presently, maximum developers claim 55-60 per cent of their current lists is 2BHK units. This strengthens the fact that the pot of gold lies at the lowest of the pyramid!