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Second homes, the second taught of Indians

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As per the sources available to www.propertykhazana.com, some people in India prefer second homes for a relaxed lifestyle at least on weekends and the idea of second homes has become a gaining fame now days. The National Council of Applied Economic Research has explained that the households are becoming rich and is likely to reach 11 Million by 2013 from 3 Million in 2003. Meantime, the numbers of middle class achievers are expected to soar for more dramatically from 46 Million to 124 Million and the first HNW is in India growing at 20% YoY and second in Singapore. This growing wealth of Indians will make the 2nd home market hot and according to Bangalore based E-business Consulting Firm the 2nd home auction in India has hiked to 50% from 2002-07. Then in 2008 the fashion slowed down because of the economical anguish of the US and it was picked up in mid-2010 to downward a little in present time and it is in normal presently. Many people who invest on 2nd homes will have different reasons because for them it’s like to relax the mind from work stress. Many will like to have 2nd home to spend the rest of their life during post retirement and some to earn rental income. The main cause for purchasing 2nd home is still way of life among the Indians and they have started to understand the investment possibilities but, the investment consideration will come in 2nd home.
According to the sources available with www.propertykhazana.com in the 2nd home segment even Tata Housing is also the main player they have a venture Prive an elite housing development in the foothills of Lonavala. This land roll and grade in many directions around 40m among the highest southern plateaus to the lowest valley in North and the slope land offers broad views towards the East, North and West across Lonavala basin. One of the ventures La Montana in Talegaon as 2nd home and is about 20 km from Pune and 120-130 kms from Mumbai and this is based on Mediterranean lifestyle. La Montana is Built-in Township with all facilities for the life to live. Second home is not idea and it can be served by the reasons of change from the habit and leave you refreshed. People of the higher income sets even more than one house as part of their Long term investment tactic and second home will be the next earnings after retirement by renting it. This 2nd home is not only for Indians but also for non-resident Indians, NRIs can simply buy the residence in India because they are born and brought up here and they even buy for their parents or ancestors cause.
Source: NIMMA BENGALURU

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