20 September, 2023
Unlock the doors to real estate success
Read time: 5 minutes

In today's edition:

  • In the news: Texas, cement, and chips
  • My thoughts on: temple-impact on real estate
  • Q&A: Contingency clauses

Handpicked stories from my weekly digest

Here are the 5 stories that you need to be aware of from this past week:

  • Texas vs Hyderabad: NRIs are increasingly investing in land in Texas instead of Hyderabad due to the lower prices and similar weather conditions. Some major companies, such as Tesla, have recently moved to Texas, making it a more attractive investment opportunity. Read more
  • Sustainability in focus: Cement companies are investing in a variety of green energy initiatives, such as solar power, wind power, and waste heat recovery systems. In fact, Indian cement companies are expected to increase their green energy usage to 42% by FY2025, up from 35% in FY2023, according to a report by ICRA. This is being driven by a number of factors, including government regulations, rising fuel costs, and increasing awareness of environmental issues. Read more
  • RERA appreciation post: Some developers make false promises to investors, such as high returns on investment and selling unapproved projects. RERA mandates that developers keep 70% of buyer money in a separate account and requires transparency in project execution. Read more
  • Semiconductor wars: The US government claims that Huawei cannot mass produce 7nm chips at scale, while Huawei has released a phone with a 7nm chip. The sanctions imposed by the US government have had a negative impact on Huawei’s handset business. Read more
  • In the mind: Neuralink is planning to implant brain-computer interfaces in people with paralysis. The trial will test the safety and functionality of the implant. Neuralink’s implant is a coin-sized device that records neural activity using 1,024 electrodes. The implant is designed to be placed in the brain region that controls movement intention. Read more

Divine delights


Image credits: Indian Eagle

Temples in India are more than just places of worship; they are dynamic economic and social centers that reverberate through the surrounding real estate markets. Drawing millions of devotees from all corners of the globe, these sacred sites wield significant influence. According to the Indian Ministry of Tourism, religious tourism accounts for a staggering 50% of all tourism activities in India.

One undeniable truth stands out: homes and apartments near temples tend to appreciate in value over time. But what's the secret behind this intriguing phenomenon? Let's peel back the layers and uncover the dynamics that make real estate in temple towns thrive.

The Temple Town Economic Boom

It all starts with economic activity. When a temple becomes a prominent pilgrimage destination, it ushers in a wave of economic prosperity within its vicinity. This surge in economic activity can be attributed to 3 key factors.

Pilgrim Influx: Temples act as magnetic centers, attracting an unceasing stream of devotees, both local and from afar. As the number of pilgrims increases, so does the demand for accommodation, dining, and various other amenities. This heightened activity drives property values upwards as residents and investors recognize the potential for growth.

Business Opportunities Abound: The influx of pilgrims spurs entrepreneurial endeavors. New businesses emerge, from hotels and restaurants to souvenir shops and bustling local markets. These ventures cater to the needs and desires of visiting devotees, thereby increasing the demand for commercial properties in the area.

Infrastructure Development: Governments and local authorities often acknowledge the significance of religious tourism in their regions. Consequently, they invest in vital infrastructure improvements. These developments can encompass upgraded roads, improved sanitation facilities, efficient transportation networks, and enhanced utilities. Such improvements elevate the overall quality of life in the area and, in turn, boost property values.

Case Study: Tirupati's Ascendancy

Tirupati, home to the renowned Venkateswara Temple, serves as an exemplary case of how temple proximity can profoundly affect real estate. The town has experienced a notable surge in residential development, with apartments and homes located near the temple becoming exceptionally desirable. Property values have displayed consistent growth, rendering Tirupati an attractive destination for property investors. Estimates peg the compounded growth rate of residential real estate properties at 20% YoY.

This is a classic case of network effects. The temple attracts permanent and temporary pilgrims. They inturn attract businesses and economic activity, which leads to the government providing better infrastructure. Better facilities leads to more immigration.

So whether you're seeking an oasis of tranquility, a smart investment, or a fusion of both, the allure of properties near temples in India offers a unique blend of spiritual and financial rewards.


I have certain obligations I want the seller to complete before I take possession. How do I protect myself?
- Mahika

Hi Mahika,

Make sure that your agreement with the seller has a contingency clause. A contingency clause is a provision in a real estate contract that allows one or both parties to back out of the contract if certain conditions are not met.

Have a question? Reply to this email - if it's relevant to the broader Open House community, I'll feature it here!



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Disclaimer: This newsletter is intended for informational purposes only and should not be construed as professional advice. Please conduct your own due diligence prior to making any decisions.

By Ashwinder R. Singh
Step up your real estate game with exclusive access to tribal knowledge accumulated over decades.
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