Post-COVID Value of Commercial Real Estate in 2021

Here is why Mangalore is becoming a Housing Hotspot

Mangalore is a top tier 2 city of Karnataka, where a variety-style of life dwells on the fine coastal land. The city is driven by the smart city program and features quality living with everything from the best schools, colleges, entertainment, malls, hotels and beaches. It has a low crime rate and provides a fresh living experience with low pollution and traffic.

In the recently announced Karnataka State Budget for 2021, Mangalore came out as a huge winner bagging the prize of new developmental plans.

Plans for Mangalore in Karanataka State Budget 2021

Mangalore was awarded over 30cr for tourism while a sanction of 60cr was made for the development of Mangalore to Panaji waterways that shall wave in higher tourism. Also, a 100cr four-lane connectivity project is planned to make Mangalore more accessible.

Mangalore being so heavily invested with developments, the coast looks forward to being more beautified in the coming days. Also, the 20th rank for Mangalore in the Ease of Living Index defines the grade of lifestyle it provides. The housing market is rising in value every day, making real estate also the best investment option.

Post lockdown, individuals who moved out to tier 1 cities for work are now back in their hometown, comfortably working from home. Having experienced the quality of tier 1 lifestyle, people now look for premium housing in tier 2 cities to match their living expectations. All these factors are major factors for the increase in market demand for premium housing in T2 cities. It has also grabbed the attention towards Mangalore making it a progressive housing market.

Rohan Corporation is the word of mouth of each Mangalorean for quality residential building. If you are looking for a house for an upgraded living or an investment option you can browse your options here – https://rohan.digitalpandit.co.in/residential-on-going/

The Cons Of Resale Flat Purchase You Need To Know

Trying to decide whether to buy property in Mangalore, a new home, or a resale apartment? Read these pointers to better grasp the resale market.

The Facts of Resale Market –

Probably your major cue to consider the purchase of a resale independent house is its affordability. Usually, in prime areas, the prices of land surges and have low availability. This makes building a new independent house really difficult in high demand areas.

Better option to subside the issue is considering buying flats. You don’t have to pay for the land and its developments. Avoiding all the hassle you can just book your flat on the 16th floor and sip coffee to the view.

With nothing to worry about, flats provide ideal amenities for the best lifestyle you could ask for. In the secondary resale market, flats are at least 7-20 year old. The flats being old have wear and tear, which further affects its market value and quality of living. 

Before you go house hunting, here are a few tips that you need to note down:

Research –

The biggest mistake of a home buyer is the lack of research. The buyer needs to set a budget and consider all their options. They forget that the budget of the resale flat in trending location can fetch them a brand new flat at a developing area. Good deals for a buyer are itself hidden behind their preferences.

Finance –

In the primary market, there are flexible payment options like EMI. Whereas the resale/secondary market may demand a huge down payment from your side. This may be both pro and con depending upon the financial plan of a buyer. Insurance policies are unfavorable towards resale flats, asking huge down payment with lesser refunds. Since the payment is processed directly to a resale flat owner, there might be few challenging obstacles.

A Home not like Home –

Resale property may need a lot of fixing. Cracked walls, leaking roofs, poor wiring, painting, all add up as expenses. While a new flat comes with brand new amenities and the latest facilities.

Resale houses usually have outdated fittings. For instance, the new modular MCB power boards have become a standard fitting than the older unsafe ones. Resale houses may miss out on new technology-based amenities like electronic card system, CCTV, smart home assistant etc.

A resale property holds the customizations and style of its previous owner. The wall paint, interior design, furniture may all define someone else. You will be moving into an ambience that you may not cherish. With a new house, you can coordinate your design and vibe with your builder who can build a house as you desire.   

With an aim to develop the coast, Rohan Corporation is your best option for premium residential properties in Mangalore. If you are looking for a comfortable 1 BHK or a lavish 4 BHK Duplex apartments in Mangalore, you can find it all with the best amenities like swimming pool, spa and gym. We also provide you with safety guaranteed site visits, so you can witness our quality yourself.