Properties in Mumbai
Real estate market experts feel that property prices may come down, but however, it depends on the holding power of the builders. The real estate sales volume has dropped down in six of the major cities in India. Mumbai Metropolitan Region (MMR) witnessed 50 per cent drop, Gurgaon 45 per cent, Hyderabad 34 per cent, [...] Continue Reading »
It is reported that more than half of Mumbai’s luxury apartments, both developed and under construction, remain unsold. It is found that more than 3300 luxury apartments were developed in Mumbai and priced in a range of Rs 10 crore to 100 crore. The regulatory uncertainty, surging prices and supply glut had prompted the super-rich [...] Continue Reading »
Film Actor Salman Khan has purchased a 1080 sq ft under construction apartment in Mumbai for Rs 20 crore. This is about Rs 1.8 lakh per sq ft. The apartment is constructed by the Samudra Developers in Bandra. According to the activists Salman had paid more money than the market rate of properties In Bandra. [...] Continue Reading »
Ajay Piramal-backed Indiareit Fund Advisors Pvt. Ltd has raised a Rs 250 crore fund that will be invested solely in redevelopment projects of slums, old housing societies and ceased buildings in Mumbai. The real estate fund has planned to raise another Rs 200-250 crore before closing the fund in a couple of months. According to [...] Continue Reading »
MHADA has sold 11267 flat in Mumbai through lottery in last three years. It is found that still 5505 flat owners are waiting for getting the possession of the flats. MHADA had announced the results of another lottery, though; none of the winners of the 2011 lottery have managed to get the keys to their [...] Continue Reading »
In order to abide by the new development control rules, developers have had to change plans and resubmit them to the BMC. This process will raise the construction cost of the properties in Mumbai. According to different real estate builders of Mumbai, this decision will increase the cost of construction of properties in a range [...] Continue Reading »
In a report by the CRISIL Research, it is reported that there is no scope of reduction of prices for the properties in Mumbai. Though the sale of properties has reduced by 40 percent, a sharp rise in construction and funding costs, in addition to amendments to the Development Control Regulations (DCR), will increase costs [...] Continue Reading »
It is analyzed by a real estate consultant firm that Mumbai has a deeply ingrained work culture. The people of Mumbai always prefer to stay in a place which is closer to their work place. As many companies are expanding their process in the suburbs, new commercial and residential projects are coming up rapidly in [...] Continue Reading »
In order to attract buyers for residential apartment in Mumbai, the builders and developers are now offering a scheme where the buyer has to pay 20% of the cost while booking a flat and the remaining 80% on taking possession. Hubtown Developers launched Hubtown Sunmist in Andheri (East) and Hubtown Hillcrest project in Gurgaon. Where, [...] Continue Reading »
It is reported by a real estate consulting firm that the cost of residential property in Mumbai will start increasing in coming months. The demands for the affordable apartments are increasing, which will help the builders to keep the cost of the properties higher. The report has also said that the cost of properties in [...] Continue Reading »
