This article is for those thinking of buying a residential property in the beautiful city of Bhilai.
This author lived in the steel city of Bhilai for over three decades in connection with his job in the prestigious Bhilai Steel Plant.
Of late a few people have discussed with this author their desire to settle down in Bhilai. But they wanted to know many things in this connection. Many things they wanted to know can be known if they seriously try but all those information that people need to know in connection with the buying of a residential property are not so easily available. Hence this article.
There are several digital apps and websites that help people in buying and selling properties such as 99acres.com, magicbricks.com, etc. However, these sites may not always be trustworthy because of their commercial nature and their inherent restrictions for want of some fees.
This blog article therefore intent to provide a platform eventually to all those who wish to buy or sell properties in Bhilai. Both sides could make contacts using the comments facility of this page.
Of late a few people have discussed with this author their desire to settle down in Bhilai. But they wanted to know many things in this connection. Many things they wanted to know can be known if they seriously try but all those information that people need to know in connection with the buying of a residential property are not so easily available. Hence this article.
There are several digital apps and websites that help people in buying and selling properties such as 99acres.com, magicbricks.com, etc. However, these sites may not always be trustworthy because of their commercial nature and their inherent restrictions for want of some fees.
This blog article therefore intent to provide a platform eventually to all those who wish to buy or sell properties in Bhilai. Both sides could make contacts using the comments facility of this page.
Buying a residential property in India involves proper thinking and planning. Property buying involves several issues that need to be properly evaluated carefully. Let us examine those one by one:
The Pros and Cons of Buying Residential Property in Bhilai
Bhilai city came into existence because of the Bhilai steel plant which gave direct employment to about 73000 people way back in the 1980's. The steel township called Bhilainagar developed as a planned city to house the employees of the steel plant. Late in the 1980 and later, private residential and commercial areas developed around Bhilainagar and adjoining Durg. Three municipal corporations, namely Durg, Bhilai and Charoda came into existence which now manage this large urban area. The urban conglomerate called Bhilai-Durg has a population of nearly 11 lakhs as per the latest census and it it the second largest urban area in Chhattisgarh state after its capital Raipur located about 30km to the east.
Other than the steel plant related commerce, Bhilai now has developed as an educational hub of central India. Scores of engineering colleges including the IIT-Bhilai, the Bhilai Institute of Technology and hundreds of schools and other educational institutions are located here. Bhilai is also the headquarters of Chhattisgarh Swami Vivekanand Technical University.
Bhilai is well connected with the rest of India. The Kolkatta-Mumbai trunk railway line passes through this city. Durg, Bhilai, Raipur are all main railway stations. Raipur Airport connects Bhilai with rest of India such as Delhi, Mumbai, Kolkata, Bangalore, Hyderabad, Nagpur, Kochi etc.
Bhilai steel plant attracted people from all over India and descendants of steel plant employees from almost all states of India have made Durg-Bhilai as their place of permanent residence. Hence this urban area has a cosmopolitan culture. Interstate bus services also operate from Bhilai-Durg.
Almost all areas of Durg-Bhilai have 4G net connectivity and DTH connectivity. Bhilai has no water scarcity problems or sewage disposal problems as compared to several cities in India.
There are several high, medium and small scale markets and shopping centres and movie halls here. The Treasure Island Mall , Bhilai is one of the biggest.
Several large and medium real estate developers are active in this city. The Chouhan group, the Biltech group, etc are the pioneers.
Besides several residential areas have been developed by co-operative housing societies, state housing board and individuals over the past several years. And the urban areas are continuously growing. Bhilai has been reported as one of the fastest growing urban area of India.
Bhilai is well known for its peace and communal harmony. The cost of residential property in and around Bhilai is comparatively lower as compared to several other cities in India.
All the above are factors which favor Bhilai for someone who is interested to buy property for own use.
However Bhilai property may not be of any good for speculators who wish to make quick buck from property deals. In the past, several properties gave opportunities for windfall gains to some of their owners. However, the present day growth in value of Bhilai property may not be over 5-6% overall.
In Bhilai independent houses and villas are generally more expensive as compared to multi-storied apartments and flats. A 3BRHK villa house in a good locality with a plot size of about 2400 sq.ft might cost anything between 80 to 100 lakhs or more in Bhilai now.
Unlike other metros such as Mumbai, Bangalore or Delhi, residential apartments are comparatively much cheaper in this city. As competition and costs in real estate are increasing, decade old apartment structures are generally better built with regard to their structures and space as compared to newer ones. Thus a 2 Bedroom-hall-kitchen apartment having a super built-up area of around 1300 sq.ft which costs Rs.80 Lakhs to 120 lakhs or more in the peripheries of the metros like Mumbai, Delhi or Bangalore could be easily procured by spending only half that amount in Bhilai. Besides, the municipal property taxes and the society maintenance charges are also much lower in Bhilai as of now.
What kind of Property to Buy in Bhilai?
As told above, landed property in a good locality is expensive in Bhilai with land costs alone ranging from Rs.800 to 1200 per sq.ft. However cheaper landed plots may be available in areas which are not so developed as of now. It is not easy to predict the future pace or type of development of a property under development. Hence it may be better to go for a developed area provided the cost is reasonable.
Bhilai has basically two types of lands used for residential purposes. One is land under lease hold and the other is land under free hold.
Lease hold is land leased by government agencies for developing residential areas. Here the purchaser is not the real owner, but only a long term (generally 33 years) custodian by paying the applicable rent of the land in lump sum initially. The government agency which is the owner can either take back the property after the lease period or extent the period by taking additional lease amounts. Hence, leased titles do not ensure long term ownership to generations. In Bhilai there are several residential areas which are with leased titles. In recent years, legal complications over leased properties are on the rise. Hence, it may not be so advisable to invest in a leased property unless the property is available for a reasonable cost! Due to ignorance about laws and due to fascinations over government held land or project, Bhilai people have been paying high premiums for such lease hold properties in the past!
On the other hand, free hold titles are those mainly developed by private land owners and developers. In general a property which has a free hold title should be preferred in case one wishes to avoid legal complications to his or her heirs in the future. Free hold properties in good locations, especially apartments are available in Bhilai now for very reasonable prices.
For houses built as independent on plots of land has advantages as well as disadvantages. Apartments are generally safer than independent houses. Apartments are also available in prime locations with costs lower than similarly placed independent houses. For the independent house, the owner has to do all the maintenance and security arrangements whereas in an apartment building such costs can be shared among co-dwellers of the apartment building. If you are a person who needs to lock your house for a few days or months and go somewhere occasionally, an apartment would be a better choice.
Newly developed flats and villas are on sale in Bhilai offered by the developers. Newer projects are launched by them periodically. In fast growing cities, well developed and fully occupied areas cost much higher value because of the value added over the years by the development. Thus a new flat can be booked a few years earlier before its actual completion at a lower cost. But due to several unpredictable situations in India, it would be better to buy an old property which has been occupied and well established for some years. In other words, a property re-sold by an original owner may be better in several ways though the property may not be looking new in its finishes. Hence it is very essential to study all aspects carefully.
Let us consider an example to make this clear. Suppose that you have a 2 BHK new flat which is told as 1000 sq.ft offered by the developer in a new project housing 50 flats. The price is published as Rs.3000 per sq.ft. Thus the price to be paid to the developer is Rs.30Lakh. Additionally they will charge costs for electricity connection, registration, municipal taxes, surcharges, etc which will add up to another about 3 to 4 lakhs. Then you have to spend for doing various fittings, cupboards, finishing as per your choice which would cost another 3-5 lakhs. Most likely your new flat may not be suitable for living immediately and it will take a few years for the entire building to get fully occupied. Thus it involves additional interest costs and security issues. A new project may be finished good withing the project premises, but most likely the peripherals and the approach roads may remain under developed for years. In many such projects in India, reliable water supply, waste disposal arrangements etc come into place very slowly. That means the new owner has to face some such troubles for a longer time.
On the other hand, a re-sale flat which is 10-12 years old in a fully developed locality in Bhilai which is of similar area or size may be with an asking price of say Rs.35 Lakhs which might appear a bit costlier. This flat might be looking older with regard to its painting, flooring, fittings etc. However, all these can be renewed by spending some 3 to 4 lakhs. The registration costs would be similar. Thus by spending more or less similar price this resale flat could be procured. But the advantage in this case would be getting a property which is in a better developed area with all known advantages and disadvantages known from the beginning.
A resale flat which is about 10 years old would have an established owners' society responsibly made and in action with regard to its maintenance and upkeep which is very important. All legal aspects would be better known in all likelihood. Thus it would be better in most cases to go for a resale flat provided the overall costs including possible renovation are comparable.
Multi-storied apartments in Bhilai posed certain teething problems initially with regard to maintenance of lifts, high pressure water supply pumps, etc. However, many existing apartment complexes in Bhilai, these problems have been slowly over come with the experience gained over the years by the residents.
How to search for Residential Properties on Sale in Bhilai?
The best method to get an overall idea is to search the property dealing sites such as magicbricks or 99acres. Suppose that you want to look for a 4 bedroom flat for buying in Bhilai using magicbricks. You may click this link : 4bedroom flat for sale in Bhilai
If you want to search 99acres click this: 4br apartment in Bhilai
Such searches provide contact information on the sellers. In the case of re-sale owners, it is better that you contact them over phone or e-mail to know more and also to proceed further. Remember, resale seller owners may be hesitant to contact you initially unless you show your genuine interest! There are all chances to strike a win-win deal in that case. Remember, a property sale to materialize may take a few months!
In the case of dealer agents or developers, expressing your interest even halfheartedly might elicit a response. Their people might call you because they are professional sellers.
Which are the prime locations in Bhilai?
Over the years, Bhilai has grown much around the government owned Bhilainagar. There are private leased residential units and commercial units within the various sectors of Bhilainagar. Amdi or Hudco sector on the west of Bhilainagar, the recently developed International township are all lease based private residential areas. They are all adjacent to the steel city's employee quarter sectors.
Motilal Nehru Nagar on the north side is a large posh locality with large houses which got developed over a few decades. Adjacent to it is Smritinagar one of the largest cooperative private housing project area in Bhilai which too is a very prime as of now. These areas are the present heart land of Bhilai with freehold housing properties. Suryavihar is another prime locality which too is near to this. There are many more, though not so popular or prime.
Hope this article and this page would be of use to both buyers and sellers of property in Bhilai. Please feel free to ask you doubts with others by writing your opinions and interests in the comments.
Best wishes!
The Pros and Cons of Buying Residential Property in Bhilai
Bhilai city came into existence because of the Bhilai steel plant which gave direct employment to about 73000 people way back in the 1980's. The steel township called Bhilainagar developed as a planned city to house the employees of the steel plant. Late in the 1980 and later, private residential and commercial areas developed around Bhilainagar and adjoining Durg. Three municipal corporations, namely Durg, Bhilai and Charoda came into existence which now manage this large urban area. The urban conglomerate called Bhilai-Durg has a population of nearly 11 lakhs as per the latest census and it it the second largest urban area in Chhattisgarh state after its capital Raipur located about 30km to the east.
Other than the steel plant related commerce, Bhilai now has developed as an educational hub of central India. Scores of engineering colleges including the IIT-Bhilai, the Bhilai Institute of Technology and hundreds of schools and other educational institutions are located here. Bhilai is also the headquarters of Chhattisgarh Swami Vivekanand Technical University.
Bhilai is well connected with the rest of India. The Kolkatta-Mumbai trunk railway line passes through this city. Durg, Bhilai, Raipur are all main railway stations. Raipur Airport connects Bhilai with rest of India such as Delhi, Mumbai, Kolkata, Bangalore, Hyderabad, Nagpur, Kochi etc.
Bhilai steel plant attracted people from all over India and descendants of steel plant employees from almost all states of India have made Durg-Bhilai as their place of permanent residence. Hence this urban area has a cosmopolitan culture. Interstate bus services also operate from Bhilai-Durg.
Almost all areas of Durg-Bhilai have 4G net connectivity and DTH connectivity. Bhilai has no water scarcity problems or sewage disposal problems as compared to several cities in India.
There are several high, medium and small scale markets and shopping centres and movie halls here. The Treasure Island Mall , Bhilai is one of the biggest.
Several large and medium real estate developers are active in this city. The Chouhan group, the Biltech group, etc are the pioneers.
Besides several residential areas have been developed by co-operative housing societies, state housing board and individuals over the past several years. And the urban areas are continuously growing. Bhilai has been reported as one of the fastest growing urban area of India.
Bhilai is well known for its peace and communal harmony. The cost of residential property in and around Bhilai is comparatively lower as compared to several other cities in India.
All the above are factors which favor Bhilai for someone who is interested to buy property for own use.
However Bhilai property may not be of any good for speculators who wish to make quick buck from property deals. In the past, several properties gave opportunities for windfall gains to some of their owners. However, the present day growth in value of Bhilai property may not be over 5-6% overall.
In Bhilai independent houses and villas are generally more expensive as compared to multi-storied apartments and flats. A 3BRHK villa house in a good locality with a plot size of about 2400 sq.ft might cost anything between 80 to 100 lakhs or more in Bhilai now.
Unlike other metros such as Mumbai, Bangalore or Delhi, residential apartments are comparatively much cheaper in this city. As competition and costs in real estate are increasing, decade old apartment structures are generally better built with regard to their structures and space as compared to newer ones. Thus a 2 Bedroom-hall-kitchen apartment having a super built-up area of around 1300 sq.ft which costs Rs.80 Lakhs to 120 lakhs or more in the peripheries of the metros like Mumbai, Delhi or Bangalore could be easily procured by spending only half that amount in Bhilai. Besides, the municipal property taxes and the society maintenance charges are also much lower in Bhilai as of now.
What kind of Property to Buy in Bhilai?
As told above, landed property in a good locality is expensive in Bhilai with land costs alone ranging from Rs.800 to 1200 per sq.ft. However cheaper landed plots may be available in areas which are not so developed as of now. It is not easy to predict the future pace or type of development of a property under development. Hence it may be better to go for a developed area provided the cost is reasonable.
Bhilai has basically two types of lands used for residential purposes. One is land under lease hold and the other is land under free hold.
Lease hold is land leased by government agencies for developing residential areas. Here the purchaser is not the real owner, but only a long term (generally 33 years) custodian by paying the applicable rent of the land in lump sum initially. The government agency which is the owner can either take back the property after the lease period or extent the period by taking additional lease amounts. Hence, leased titles do not ensure long term ownership to generations. In Bhilai there are several residential areas which are with leased titles. In recent years, legal complications over leased properties are on the rise. Hence, it may not be so advisable to invest in a leased property unless the property is available for a reasonable cost! Due to ignorance about laws and due to fascinations over government held land or project, Bhilai people have been paying high premiums for such lease hold properties in the past!
On the other hand, free hold titles are those mainly developed by private land owners and developers. In general a property which has a free hold title should be preferred in case one wishes to avoid legal complications to his or her heirs in the future. Free hold properties in good locations, especially apartments are available in Bhilai now for very reasonable prices.
For houses built as independent on plots of land has advantages as well as disadvantages. Apartments are generally safer than independent houses. Apartments are also available in prime locations with costs lower than similarly placed independent houses. For the independent house, the owner has to do all the maintenance and security arrangements whereas in an apartment building such costs can be shared among co-dwellers of the apartment building. If you are a person who needs to lock your house for a few days or months and go somewhere occasionally, an apartment would be a better choice.
Newly developed flats and villas are on sale in Bhilai offered by the developers. Newer projects are launched by them periodically. In fast growing cities, well developed and fully occupied areas cost much higher value because of the value added over the years by the development. Thus a new flat can be booked a few years earlier before its actual completion at a lower cost. But due to several unpredictable situations in India, it would be better to buy an old property which has been occupied and well established for some years. In other words, a property re-sold by an original owner may be better in several ways though the property may not be looking new in its finishes. Hence it is very essential to study all aspects carefully.
Let us consider an example to make this clear. Suppose that you have a 2 BHK new flat which is told as 1000 sq.ft offered by the developer in a new project housing 50 flats. The price is published as Rs.3000 per sq.ft. Thus the price to be paid to the developer is Rs.30Lakh. Additionally they will charge costs for electricity connection, registration, municipal taxes, surcharges, etc which will add up to another about 3 to 4 lakhs. Then you have to spend for doing various fittings, cupboards, finishing as per your choice which would cost another 3-5 lakhs. Most likely your new flat may not be suitable for living immediately and it will take a few years for the entire building to get fully occupied. Thus it involves additional interest costs and security issues. A new project may be finished good withing the project premises, but most likely the peripherals and the approach roads may remain under developed for years. In many such projects in India, reliable water supply, waste disposal arrangements etc come into place very slowly. That means the new owner has to face some such troubles for a longer time.
On the other hand, a re-sale flat which is 10-12 years old in a fully developed locality in Bhilai which is of similar area or size may be with an asking price of say Rs.35 Lakhs which might appear a bit costlier. This flat might be looking older with regard to its painting, flooring, fittings etc. However, all these can be renewed by spending some 3 to 4 lakhs. The registration costs would be similar. Thus by spending more or less similar price this resale flat could be procured. But the advantage in this case would be getting a property which is in a better developed area with all known advantages and disadvantages known from the beginning.
A resale flat which is about 10 years old would have an established owners' society responsibly made and in action with regard to its maintenance and upkeep which is very important. All legal aspects would be better known in all likelihood. Thus it would be better in most cases to go for a resale flat provided the overall costs including possible renovation are comparable.
Multi-storied apartments in Bhilai posed certain teething problems initially with regard to maintenance of lifts, high pressure water supply pumps, etc. However, many existing apartment complexes in Bhilai, these problems have been slowly over come with the experience gained over the years by the residents.
How to search for Residential Properties on Sale in Bhilai?
The best method to get an overall idea is to search the property dealing sites such as magicbricks or 99acres. Suppose that you want to look for a 4 bedroom flat for buying in Bhilai using magicbricks. You may click this link : 4bedroom flat for sale in Bhilai
If you want to search 99acres click this: 4br apartment in Bhilai
Such searches provide contact information on the sellers. In the case of re-sale owners, it is better that you contact them over phone or e-mail to know more and also to proceed further. Remember, resale seller owners may be hesitant to contact you initially unless you show your genuine interest! There are all chances to strike a win-win deal in that case. Remember, a property sale to materialize may take a few months!
In the case of dealer agents or developers, expressing your interest even halfheartedly might elicit a response. Their people might call you because they are professional sellers.
Which are the prime locations in Bhilai?
Over the years, Bhilai has grown much around the government owned Bhilainagar. There are private leased residential units and commercial units within the various sectors of Bhilainagar. Amdi or Hudco sector on the west of Bhilainagar, the recently developed International township are all lease based private residential areas. They are all adjacent to the steel city's employee quarter sectors.
Motilal Nehru Nagar on the north side is a large posh locality with large houses which got developed over a few decades. Adjacent to it is Smritinagar one of the largest cooperative private housing project area in Bhilai which too is a very prime as of now. These areas are the present heart land of Bhilai with freehold housing properties. Suryavihar is another prime locality which too is near to this. There are many more, though not so popular or prime.
Hope this article and this page would be of use to both buyers and sellers of property in Bhilai. Please feel free to ask you doubts with others by writing your opinions and interests in the comments.
Best wishes!
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