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Buying property in guwahati, Get an accurate apprisal first!

Real estate appraisal – is that the real one?

Real estate appraisal or property valuation is the process of determining the value of the property on the basis of the highest and the best use of real property (which basically translates into determining the fair market value of the property). The person who performs this real estate appraisal exercise is called the real estate appraiser or property valuation surveyor. The value as determined by real estate appraisal is the fair market value. The real estate appraisal is done using various methods and the real estate appraisal values the property as different for difference purposes e.g. the real estate appraisal might assign 2 different values to the same property (Improved value and vacant value) and again the same/similar property might be assigned different values in a residential zone and a commercial zone. However, the value assigned as a result of real estate appraisal might not be the value that a real estate investor would consider when evaluating the property for investment. In fact, a real estate investor might completely ignore the value that comes out of real estate appraisal process.
A good real estate investor would evaluate the property on the basis of the developments going on in the region. So real estate appraisal as done by a real estate investor would come up with the value that the real estate investor can get out of the property by buying it at a low price and selling it at a much higher price (as in the present). Similarly, real estate investor could do his own real estate appraisal for the expected value of the property in, say 2 years time or in 5 years time. Again, a real estate investor might conduct his real estate appraisal based on what value he/she can create by investing some amount of money in the property i.e. a real estate investor might decide on buying a dirty/scary kind of property (which no one likes) and get some minor repairs, painting etc done in order to increase the value of the property (the value that the real estate investor would get by selling it in the market). So, here the meaning of real estate appraisal changes completely (and can be very different from the value that real estate appraiser would come out with if the real estate appraiser conducted a real estate appraisal exercise on the property).
A real estate investor will generally base his investment decision on this real estate appraisal that he does by himself (or gets done through someone). So, can we then term real estate appraisal as a really real ‘real estate appraisal’?

Thinking of buying property in Guwahati, Read this first.
Commercial real estate: The big profits

Real estate is often termed as the safest investment avenue. In fact, real estate investments done with proper evaluation of the property (and its true value), can lead to good profits. This is one reason why some people pursue real estate investment as their full time job. The talks of real estate are generally focussed towards residential real estate; commercial real estate seems to take a back seat. However, commercial real estate too is a good option for investing in real estate.

Commercial real estate includes a lot of different kinds of properties. Most people relate commercial real estate with only office complexes or factories/ industrial units. However, that is not all of commercial real estate. There is more to commercial real estate. Health care centers, retail structures and warehouse are all good examples of commercial real estate. Even residential properties like apartments (or any property that consists of more than four residential units) are considered commercial real estate. In fact, such commercial real estate is much in demand.

So, is commercial real estate really profitable? Well, if it were not profitable I would not have been writing about commercial real estate at all. So, commercial real estate is profitable for sure. The only thing with commercial real estate is that recognising the opportunity is a bit difficult as compared to residential real estate. But commercial real estate profits can be real big (in fact, much bigger than you would expect from residential real estate of the same proportion). You could take up commercial real estate for either reselling after appreciation or for renting out to, say, retailers. The commercial real estate development is in fact treated as the first sign for growth of residential real estate. Once you know of the possibility of significant commercial growth in the region (either due to tax breaks or whatever), you should start evaluating the potential for appreciation in the prices of commercial real estate and then go for it quickly (as soon as you find a good deal). And you must really work towards getting a good deal. If you find that commercial real estate, e.g. land, is available in big chunks which are too expensive for you to buy, you could look at forming a small investor group (with your friends) and buy it together (and split the profits later). In some cases e.g. when a retail boom is expected in a region, you might find it profitable to buy a property that you can convert into a warehouse for the purpose of renting to small businesses.

So commercial real estate presents a whole plethora of investing opportunities, you just need to grab it.

Guwahati ,is the capital city of Assam, picturesque ,yet sombre , with the scars of history and the trophies of glory, it personifies the trait of the assamese,the mighty brahmaputra gives its company along its serene shores.Ersthwhile  Sunitpur or Dispur is its twin presence ,although cocooned in the womb of this historic city.

Glorified by The Legendary singer,Bhupen Hazarika, The Brahmaputra has had many paens to its praise. Guwahati has personified grit and a stellar resolve not to buckle to events and circumstances,as crippling and catastrophic events have been overcome and the people have found their feet again ..and again.

It is the economic and political hub of the entire north east region. As Trade and Commerce has been bringing in lot of good cheer of late, its cultural leaps of joy as epitomised by Shankardev Kalashetra,or the National games village has made it a favourite destinations for tourists and business alike.

The north east opens a window to unimaginable natural beauty and amazing fauna. The Kaziranga,Manas wildlife reserve,the Tiger, Rhino and migratory birds,not to mention the Ahom kingdom of yore and its prized forts and buildings in the old age towns of Upper Assam,And one has to use Guwahati as a portal of commerce as the Gopinath Bordoloi International Airport is the largest portal for human passage ,and the guwahati railway station,with Maligaon as the headquarters of the NF Railways , just underlines the geo political and economic presence of the beautiful city of Guwahati. As an address of Ghy. (as the postal department would vouch!) is a prized entity for any resident of the alluring north east.

Population wise ,it has unofficially crossed the million mark years ago, and the fast expanding urban populace is creating a mainstream economy that will easily rival that of places like bengaluru and Hyderabad in the near future.

Apart from being the main city in Kamrup District ,it is actually the unqualified city in the entire north east. Shillong and the other cities and towns of the seven sisters have  a constant stream of vistors to and from this major city and also port of the north east.

Guwahati,has two Deputy commissioners, one for the district and one for the city! and from the Gandhi Mandap at Dakshin Sarania, to the Kamakhya temple ,it has history galore. The Guwahati District Library and Digholi Pukhuri,along with the historic Cotton college are a few important and old structures.

Educational institutes like Cotton College,B.Baruah College,Handique Girls college,The Guwahati Commerce college, Guwahati Medical College,and Dental College as also the Assam Engineering college are just a few prized names among the multitude of old and new educational institutes.

Entertainment is not shortcoming ,with Multiplexes, Malls and Water parks all available within the city parameters,An interesting site for an avid fan would be the gocarting facelity available near Shillong ,which is just a few hours from Guwahati.

Regional festivals of Bihu are much celebrated and enjoyed by both the locals as well as vistors.

There is a large diaspora of assamese people living   both in different areas of India and abroad ,who have roots and family links to this place.The last decade has seen the sleepy city of Guwahati,clamouring for attention ,sometimes not for the right reason, however ,things seem to be back on track as the flyovers and rapid commercial expansion has made it a busy hub of activity.

Joi Ai Asom.