Connaught Place: The Costliest Destination in Delhi

Delhi, the national Capital Territory of India, is known for its historical heritage, food, fashion and cultural diversity. With the remarkable development in many various sectors like infrastructure, IT and ITES industries, many young people have started looking for properties for sale in Delhi.

One such place for good property investment is Connaught Place fondly known as CP. The location is well known for its vibrant atmosphere and planned layout. CP has been hot spot for the business men and as well as tourists both from the country and abroad.

CP is one of the most expensive commercial markets not only across India but also the world. The annual rent here is more than Rs. 9,000 per sq. ft. which makes it to increase the property for sale in Delhi. And moreover, it’s is shopping paradise with many number of shops in the entire area.

According to a recent survey, Connaught Place is the seventh costliest office destination in the world and also the most costly in India mostly because of limited space and high demand which proves that there is high demand with property for sale in Delhi.

With the increasing demand in property for sale in Delhi, many people prefer to put up in residential areas close to Connaught Place like Indraprastha, Rajendra Nagar, Tolstoy Marg, Mandir Marg, Karol Bagh, to name a few. If you are looking for a rented residential property in Indraprastha, the range varies from Rs. 15,000 to Rs. 25,000 and if you are planning to take up an office for rent in the area, the starting price is approximately Rs. 65 - Rs. 200 per sq. ft. However, among all the areas, the Central Business District of Connaught Place is the most preferred destination due to its location and easy connectivity.

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Constructing a high-rise building

A high-rise building is a tall building or structure used as a residential or office building. The possibility of high-rise buildings have escalated with the invention of the elevator or lift and with good and stable building materials. The materials which are used for the building construction of high-rise buildings are toughened concrete and steel and new construction technology.

A high-rise construction is generally opted for densely populated cities or urban areas. Constructions of high-rise buildings provide the comfortable living standard for the people and also help in the development of the cities. These buildings are 35 metres or greater in height, which is distributed at regular intervals into occupiable levels. Construction of large structure must be based on solid ground, and fabricated along its full height through a construction management plan.

India may be far behind when it comes to high-rise buildings; however it is making a slow but steady way up with a number of towering structures that are being built and planned for several cities.

Best Method of constructing a high-rise building

Construction: The base of any good construction depends on the design of the tall building, the designer should have an eye for detail, should know the basic concepts should also know the methods of constructing high-rise buildings when he initiates the planning process for Construciton.

Foundation System:

Mat or Raft Foundation: The mat foundation is one large continuous footing upon which the building rests and it also provides a uniform dig depth. The system is used when the soil behavior capacity is low. Mat foundation may be useful when a concentration of high soil pressure must be distributed over the whole building area, when compressible strata are positioned at a thin depth, when small soft soil areas must be bridged so that settlement will be reduced, when differential settlement of uneven soils must be minimized, since individual footings would create unequal settlement, or when pressure of groundwater and uplift must be controlled.

Floating or Compensated Mat Foundation:

When tall buildings are constructed on weak soils of very thick deposits of soft materials, such as compressible clay the fully compensated mat foundation is often used.

Deep Foundations: Deep foundations are used when sufficient soil competence is not available close to the surface and loads must be moved to firm layers significantly below the ground surface. Pile foundation and pier foundation are two methods in deep foundation.

The choice of a foundation system depends on the structural design of the building, that is, the location, magnitude, and kind of forces to be transmitted to the ground, and also on the subsurface circumstances, the behavior capacity and settlement uniqueness of the soil, as well as the groundwater conditions.

Water Proofing Treatment for Basement

Lot of problem is faced when there is an entry of outside water; rise in water level, leakage from side structure including leakage in pipe and sewer line etc. Proper care is to be taken for such problems as they may cause danger to the building by following proper construction technique. They are:

•    Interior wall and floor sealers
•    Interior water drainage
•    Exterior drainage combined with waterproofing coatings

Other basic components of high-rise buildings are:

Concrete column: Concrete columns and shear walls are critical to the stability of the structure. The main use of column is to transfer the load above to the foundations and is used to resist lateral and vertical forces when constructing.

Wall: Builders also use dry wall techniques and pre-fabricated techniques to carry out difficult designs and high end constructions. Nowadays, ready mixed concrete is available to maintain a similar quality of concrete for a whole building when constructing wall.

Concrete slab: Using concrete slabs has several advantages; it provides strength, stiffness, air-sound insulation, fire resistance and adjustability to the high-rise buildings.

Beams: Beams are principally horizontal columns on which floor slabs rest and these beams are coupled to columns for additional load transfers.

Safety is an important aspect of high-rise buildings. Fire and earthquakes can strike anywhere without a word of warning, which can cause considerable damage to life and property. Hence, when constructing a high-rise building, a combination of reinforced steel, concrete and other light weight materials should be used to help the building gain its composure after vibration from a strong earthquake. Moreover, the use of fortified concrete reduces the risk of collapsing building.

Some of the high-rise buildings in India

1.    Imperial Tower 1, Mumbai
2.    Kohinoor Square, Mumbai
3.    The Ruby, Mumbai
4.    Lodha Bellazza 3, Hyderabad
5.    World Trade Center, Bangaluru

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THE ART OF REAL ESTATE NEGOTIATION

Negotiation is believed to be an 'all or nothing' process - that is, there has to be one winner and one loser. The goal of negotiation is to achieve in the end what you want, the best deal. Negotiation is an art and the extent of victory mostly depends on the negotiator's knowledge, competence and application of various strategies, skills, and tactics. Negotiation is the key factor in getting the best deal in real estate.
In real estate, the buyers have the most success negotiating with a motivated seller. Sellers can be forced to put the home for sale for several reasons:

1.  moving out to another city
2.  a job loss and looking to avoid foreclosure
3.  house is an unwanted inheritance
4.  rate of interest increased and can't afford

Therefore, the most important step in negotiations is to find the ‘why’ factor. Why is one looking out to sell a property and the consequences if they are unable to sell?
Although one can spend his or her entire lifetime trying to learn the art of negotiation, learning a few key negotiation strategies in real estate can put one far ahead of most of the competition, and can help plot a course of action, when up against an unmotivated seller, a savvy buyer or a head-strong contractor.

Let’s look at some simple step in real estate dealing, which can be used to achieve success in a negotiation:

Get prepared - Before beginning any negotiation, it’s essential to be informed about the concerned property on sale. One has to do their homework. The more information one has about the property, the more easily the negotiation can be handled. Information like, nearby localities, prices of the similar kind of property in that locality, what are the basic amenities and how is it? Is there any new real estate company who is selling similar kind of property? Is there any items necessary to discount value from the seller or an added value to the buyer?

Start listening - Active listening and maintaining silence is the most important art of negotiation in real estate transactions. It’s important to know what the other party has to say, try to perceive the body language like, closed palms, crossed legs, lack of eye contact while the other real estate agent or party is doing the talk. Sometime it may happen that one can strike gold or discounted value for a home when he or she listens carefully to the other person.

Disagreements - Generally the disagreement between the two parties will be over the value of the home for sale, the amount of repairs, or the length of time needed for the transaction to occur. When 'arguing', it is important to stay objective. It is important not to take it personal. Skilled negotiators always use an accommodating approach in dealing with people. They understand that one can win an argument most times- but lose a sale every time. It is better to abstain from disagreements and be flexible with clients to achieve the desired goal.

Provide signals - It’s always better to specify readiness to work together. Important point is that one finds the common attributes one have with the other person across the table, and builds negotiation on it. Listen to words or phrases that leave uncertainty and may signal that a party is open to a given proposal. Words such as 'can', 'possibly', 'perhaps', 'maybe' or 'acceptable' provide signal for giving proposal.

It is important to note in negotiation, whether buying or selling, that if one is not able to get the agreed price, at least he or she can get the term agreed for sale or purchase. For instance, the seller reducing the price to 20% is a sacrifice or if you are acquiring extra time to pay the money is an advantage. However, it is important that both the parties are willing to make some adjustment to achieve the desired result.

Complete the deal - Make sure that both parties be informed of the deal and are in agreement. Write the minutes of the meeting and close the deal by getting the other party’s signature on it and close the deal.

Negotiators need to be patient, informed and flexible and they should listen attentively to their clients’ requirements because these factors make them effective skilled negotiators.

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Kelambakkam: An Emerging Stretch on OMR

Kelambakkam, located on the Old Mamallapuram Road, is making a mark for itself in the residential real estate sector of the city. This locality is surrounded by IT companies and educational institutions, thus the demand of Kelambakkam apartments is on the rise. There are major attractions that attract tourists to this location like Kovalam beach, the old church of St. Mary, Thiruvidanthai Nithya Kalyana Perumal temple and Tiruporur Murugan Temple.

 It is an important junction that connects the ECR (East Coast Road) and the GST (Grand Southern Trunk) Road, from Kovalam to Vandalur Zoo and also traverses to OMR and Adyar. The main modes of transport in this locality are share autos and MTC buses. The buses from Kelambakkam bus terminus ply to neighbouring localities like Thiruporur, Sholinganallur, Madipakkam, Selaiyur, Tambaram, Chengalpattu and Velachery. Besides this, the government has sanctioned the second phase of widening the OMR into six lanes. This locality will witness high demand and appreciation for Kelambakkam plots, as soon as the second phase project gets initiated.

Being a major tourist attraction, this real estate is booming in the hospitality section also. A few of the reputed resorts in this area are MGM Beach Resort, Fisherman’s Cove, Southern Mermaid Resort and Ellamay Resorts.

The locality is surrounded by renowned colleges like 

• Hindustan College of Engineering
• Anand Institute of Higher Technology
• Sri Sivasubramaniya Nadar College of Engineering
• SSN School of Management and Computer Application
• Shree Motilal Kanhaiyalal Fomra Institute of Technology (SMK FIT)
• Aarupadai Veedu Institute of Technology (AVIT). 

Some good schools in this area are B.K.M Higher Secondary School, St. Mary’s Matriculation School, Baba School and Government Higher Secondary School. One of the prominent health care centres in Chennai, Chettinad Hospital and Research Institute is housed here which attracts students not only from India but also from abroad, who in turn look for good rental apartments in Kelambakkam.

The demand for flats in Kelambakkam is high due to the proximity to SIPCOT IT Park which is just 3 kilometres from Kelambakkam. In fact, the stretch from Kelambakkam to GST has contributed drastically to the locality’s real estate prospects. To meet these housing needs, a large number of builders are settling up their projects here. Some of the developers to have entered this locality include Puravankara Group, Shobha Developers, Vasavi Construction and Developers, Isha Developers, Vijay Shanti Developers, Unitech Group and Provident Group.

 

A few residential projects in Kelambakkam are Unitech Aspen Greens, VS Boulevard, Purva Swanlake, and Villa Green, among others. The developers come up with various schemes to facilitate different income groups.

The average price for flats for sale in Kelambakkam is Rs. 3677 per square foot. The rent may cost around Rs. 11 per square foot. Looking for residential plots in Kelambakkam will cost Rs. 14,368 per square foot.

The Kelambakkam area enjoys proximity to the IT corridor, good colleges and is also a major tourist attraction. Giving these reasons, it is obvious that the rate may appreciate in the near future.

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