Why Electronic City Is Still a Popular Real Estate Destination

Bangalore’s real estate story is closely linked with its Information Technology story. The economy of the city which is also known as the “Silicon Valley” of India is primarily dependent on the IT sector. The city houses many localities which are hot beds for IT/ITeS companies. It is these areas which are primarily sought after among home buyers. The real estate values in these areas have spiralled and also plateaued depending on how the IT sector has done.

Bangalore remains one of the few markets in the country which has been mostly sheltered by the real estate drought experienced by most other markets. This is because the market here is driven by end users rather than investors so speculation is mostly negligible. And end users here mostly prefer areas which are employment generators like the ones which have IT Parks and Special Economic Zones.

One such micro market which has thrived because of the IT sector is Electronic City. It is located in the southern part of the city in the Anekal taluk of the Bangalore Urban district. It is considered to be one of the biggest IT Parks in the country as it covers an area of 332 acres. IT giants such as Wipro, Tech Mahindra, Hewlett-Packard, Infosys and Patni are just some of the names present here. There are over one lakh people who work out of Electronic City. The demand for flats in Electronic City comes mostly from those who are employed in the IT/ITeS companies.

The going rate for properties such as flats in Electronic City stands at INR 3800 per square feet on average. In the first quarter of 2010 the going rate stood at INR 2500 per square feet. From there the prices went up steadily and stood at INR 3500 per square feet in the second quarter of 2011. The prices dropped and again came back to the INR 2500 per square feet range by the last quarter of 2011. From then on the prices have been inching upwards. One of the reasons attributed for this drop in the prices is the global economic slowdown and its subsequent impact on the IT industry. Since most of the buyers here belong to that industry, they did not want to buy homes anymore. This situation lead where the supply was much more than the demand. But the industry is slowly but surely recovering and this might spell good news for the realty industry here as well. Those who are looking to purchase properties such as independent houses in Electronic City can do so now since things are looking up here.

Components of Subscription Commerce and Its Importance

In today’s competitive market scenario, subscription commerce is all about relationships with customers; and where subscriptions is the best way to unleash the power of recurring revenue. Every business that follows a subscription commerce model needs to have a platform that gives full control of strategy as well as customer relationships. However choosing this platform is a crucial task for all businesses falling under this category. It is because the choice of platform that the business makes is wholly-solely going to affect the day to day operations of the business, and also that it would be quite difficult to bring changes later on.

An efficient recurring billing software is a pre-requisite for a subscription billing system; and new providers are emerging that are quite robust and much better than the already exiting ones. However, this kind of billing system needs to have a website/shopping cart; a recurring billing management system; and a payment getaway.

The cart is used to display the entire product range; the billing management system supports and manages the complexities of a subscription billing system; and a payment getaway is the interface that takes all the customers’ details and communicates with the payment networks (Visa/MasterCard) to process billing. It is up to the entrepreneur and the genre of the subscription business that the choice for the shopping cart can be made. The recurring billing system should have the ability to send emails to customers, intimating them about their pending payments or subscription renewals. The choice for a suitable payment getaway is also not an easy a task; where it should have suitable support for subscription systems.

There are cloud services available that offer some great billing engines which when used in collaboration with the business, make billing easy, cross-check entitlements and processing payments and balance updates. In fact these billing engines handle all tasks, from current usage, subscribed plan, upgrades and downgrades, to payments and promotions etc. There are certain billing solutions that balance and update account balances in compliance to PCI requirements; along with providing efficient handling of full and partial refunds. Also there are billing products that integrate quite well with international payment getaways as well.

Then there is the subscription commerce software that empowers the entrepreneur to monetize and manage metered usage, tiered services, on-demand and pay-as-you-go kinds of business models.

To keep the customers smiling with seamless renewals, upgrades and transformations, is the step stone for a subscription business towards success.

Five Advantages of Owning an Apartment in Bangalore

Bangalore, the Silicon Valley of India, is the most sought after destination for the country’s job seekers. Every year, tens of thousands of individuals migrate to the city in search of a fulfilling career. As a result, the demand for residential apartments in Bangalore is also increasing to accommodate this huge work force. While the new residents usually choose to stay at a rented house, individuals with a stable job and higher income prefer to buy an apartment than renting one.

Both owning and renting a home has its own advantages and disadvantages. However, buying an apartment makes better sense since the monthly EMIs are utilised into one’s own property, ensuring return on investment in the future. Whereas, the money spent on rents go to someone else, which one will never be able to retrieve. Moreover, owning a home gives immense pride, sense of security and emotional contentment to the owner. It is such an asset, which always appreciates with time.

Let us study some of the benefits of owning an apartment in Bangalore:

Freedom: A home owner is the boss of his residence. He doesn’t require anybody’s permission for making any kind of alteration at his apartment. He enjoys greater privacy. Moreover, he can always go for that exotic piece of furniture or delicate crockery set without worrying that it will get damaged during home shifting, a normal phenomenon in case of a rented apartment.

Stability: Home owners usually have fixed EMIs. Hence it becomes easier for them to plan out their other future expenses – be it children’s education fee, daughter’s wedding expenses or parents’ treatment cost. Renters are generally clueless about how much they are going to pay few years down the line. As for example, home rent has increased by 7% to a whopping 23% in certain areas in Bangalore during last couple of years. Localities like Indiranagar, HAL, Old Airport Road, Marathahalli, Bellandur and Outer Ring Road have seen maximum hike. Therefore, allotting a definite amount towards rent and planning other long term expenses around it, is not always possible for renters.

Appreciation: Land prices in Bangalore have been on a steady rise since early 2000s, resulting in appreciation in housing prices every year; sometimes manifolds. According to experts, over a ten year period, real estate has seen the highest scale of appreciation in comparison to any other class of investment. Hence buying an apartment in this city is a wise decision from an investment point of view too.

Tax benefits: EMIs and property tax obligations are a homeowner’s best friend during income tax filing in India, since both of these offer tangible tax benefit. The current housing loan interest deduction limit is extended up to INR 2,00,000 every year. However, the extent of the tax benefit one is eligible for is dependent on the income bracket one falls into and whether one has already occupied the house.