Monthly Archives: November 2016

Bangalore Real Estate Goes Green

Bangalore real estate activities are witnessing a stagnation period. There is identified stock of unoccupied properties in the Whitefield area. The reason gauged is all the IT and IT enabled service companies are heading towards green buildings. Green buildings are the peg of the year as the world is adapting green arena to counter various environmental issues. All builders and developers are bound to adopt green technology to construct their buildings.

The upcoming real estate activities in Bangalore are happening at outer ring road and peripheral areas. Few buildings where the construction has just completed are lying vacant. The Bangalore real estate market is experiencing such vacant unit supply in past couple of months. The reason sought is the increasing demand of green building. The newly constructed Bangalore properties are not meeting green buildings requirements and thus they are not rated as green.

The IT and ITES companies are not occupying this space and as a result the real estate values are stagnating and the property prices are going down with time. In the last quarter demand – supply mismatch was approximately a million sq.ft. (as stated in Cushman & Wakefield report).

The Bangalore Real Estate Builders and property developers are still reluctant in building green homes and using new technology because of their profit margin. Also all the upcoming and current projects are overpriced than the market value.

The Whitefield region in Bangalore, where IT and ITES firms occupy most of the office space, could be delivered another blow when a Bangalore government scheme which provides rebate in tax to the companies located at “technology parks” comes to an end next year.

Most of the companies will head towards Special Economic Zones (SEZ) which is designed as per the green codes and this will further render some Bangalore properties vacant. Thus Bangalore real estate builders have no choice but to start constructing green buildings to save the environment as well as their own business

Getting in on Green Real Estate

If you need to sell your home but are having difficulty interesting buyers, there is an alternative available. The green real estate market has skyrocketed in the past five years, thanks to new interest in sustainable living and the passing of eco-friendly legislature. Here are some tips for transforming your home from dull listing clutter to green real estate commodity.

Invest in Making Green Real Estate

If you are truly committed turning your home into a green paradise, and thus make it more marketable, you may have to make a large investment. Map out the types of changes you want to accomplish, such as adding solar panels and water efficiency kits. Determine how much each project would cost, whether you can do it yourself or have to hire someone to do it for you, and how long the project will take.

With all of this in mind, research the kinds of houses that have made these adjustments and how much they have sold for. Contact a selling agent to ask questions. Get a home appraisal prior to these green projects, and also ask them their opinion on how much your home would be worth after the projects were completed.

Small Ways to Make Your Home Eco-Friendly

If you simply cannot afford the investment, or you don’t think the investment will yield greater returns, there are small things you can do to make your home more marketable as green real estate.

Check your home’s energy efficiency. Replace any insulation that may be allowing heat to escape. Check doors and windows for cracks in panes, sealant fails, or even holes. These small repairs will all save big on heating and air conditioning costs.

Replace your regular light bulbs with energy efficient CFL, or compact fluorescent lights. Also, install new showerheads and faucets, replacing them with low-flow technology. This will save water. Installing an insulating jacket around your water heater saves money and energy.

Plant a Tree

One of the simplest and best ways to make your home green is to actually surround it with green! Planting a tree outside will produce shade in the summer, and can reduce cooling costs by up to twenty-five percent. Trees and shrubs can also block strong winds from your home, which prevent them from coming in through compromised windows or leaks in your doors. This can save on your heating costs by up to twenty percent.

In the summer time, your home will be more attractive to potential green buyers if it is surrounded by plants and flowers. You can purchase cheap flowers ready for planting from a local greenhouse. Ask the greenhouse attendant for how to plant and care for the flowers if you are not sure.

It is also easy to make your home appear greener during the winter time. Keep plants and flowers indoors. Be sure to water them as needed, and consult online manuals for how to care for particularly tricky plants. As soon as a potential buyer walks in and sees that your house is a great place to have plants, the chances are that they will be more interested.

Promoting your house as a piece of green real estate can make it much more marketable. Decide whether you can make big investments like solar panels or replacing appliances with energy efficient ones. If not, there are many small things you can do to make your home more eco-friendly and attract those green buyers.