The average home prices in Mumbai have touched Rs 12,000 per sq ft
Unless you are very knowledgeable, seek expert advice before making such a high-ticket investment, cautions Sarbajeet K Sen.
To overcome your fear of the property being taken over, draw an ironclad agreement with a good lawyer's help, recommends Sanjay Kumar Singh.
'Our family philosophy is to build a bridge between India and Britain.'
There is also scope for buyers to negotiate for discounts.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
Banks are auctioning 2,362 properties in next 30 days. The foremost benefit of purchasing a property in a bank auction is that you could get it at a significant discount to the market rate.
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As home deals are down to a trickle, most are looking at life beyond broking.
Housing sales are estimated to rise 93 per cent year-on-year during April-June across seven major cities, but may fall 58 per cent compared to the previous quarter due to the adverse impact of the second wave of COVID-19, according to property consultant Anarock. Sales are likely to be around 24,570 units across seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune, Anarock said. Sales of residential properties stood at 12,740 units in April-June 2020 and 58,290 units in March quarter 2021.
Modi's demonetisation move has hit the real estate market in Delhi and Mumbai
National Capital Region and Bangalore's property prices are more reasonable.
After years of living with his family in a poky 110 sq. ft. 'house', textile worker Sambhaji Surve dreams of moving into a home four times the size once the Maharashtra government starts its ambitious redevelopment of the 39-acre Kamathipura shanty town in south-central Mumbai. Sharing his dream are about 8,000 other families hoping for a better life when the redevelopment project, part of the government's effort to redevelop old settlements and make life more livable for some residents, gets underway. The Shiv Sena-Nationalist Congress Party aims to redevelop BDD Chawl and Dharavi but for Surve all the matters is Kamathipura where he arrived in the 1970s from Nasik to work in a textile mill. Kamathipura was originally built 150 years ago following construction of a causeway to connect the seven islands of Mumbai. From the British Raj to post-independence, it became infamous for slums and brothels.
The marginal increase in absorption is expected to be accompanied by a drop in the number of new launches by 8 per cent to 72,113 units during 2014.
The RBI has lowered interest rates by 1.25 per cent since January.
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
Indebted developers are cutting staff as they slow work on existing projects and postpone new ones until they clear a backlog of 700,000 unsold homes
Modi's party also wants to regulate property markets and tie investor money to specific projects to stop developers diverting cash elsewhere.
According to Knight Frank, in the second half of 2015, launches will be down 52 per cent (from 37,643 in the second half of 2014) to 18,000, while absorption will improve 24 per cent.
A steady demand environment, prudent debt management and faster absorption of office space gave them an edge over others.
HFCs and banks expect a drop in demand for housing loans in the short-term.
Analysts say worst seems over but RBI's helping hand needed in form of rate cuts.
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
Given the current global cues, if the next six months do not turn out to be the way we would want it to, we are definitely looking at a very gloomy start to 2016.
Launches and sales of house property have seen a continuous drop.
Branded residencies, designer-stamped homes have a snob value and are sold at a high premium, to willing buyers
Harbhajan Singh said he is not averse to joining politics but would like to put in a lot of thought
Tracking a smaller number of taxpayers with a high income base and using data from millionaire surveys and purchases of high-end cars and houses can make the tax department more efficient.
Only double-income households can buy flats in India's top 8 cities, except Mumbai
Unless security is given paramount importance, it is difficult for real estate activity to pick momentum in J&K.
In the quarter ended September 30, the Pirojsha Godrej-led firm recorded Rs 492 crore net sales, up 49% year-on-year
Budget fails to cheer realty players.
A revival in the sector is still 12-18 months away: Experts
Effects of the new schemes launched under the Pradhan Mantri Awas Yojana would be felt more in tier-II and tier-III cities, as not many budget or affordable housing projects are in the works in metropolitan cities.
Looking for a way out, property developers deal in banned notes.
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
Declining vegetable prices brought down the retail inflation to a 15-month low of 4.59 per cent in December and within the comfort zone of the Reserve Bank, government data showed on Tuesday. It is for the first time during the current fiscal that the Consumer Price Index (CPI) based inflation print is below 6 per cent or in the RBI's target range of 2 to 6 per cent. The central bank factors in the CPI-based inflation while arriving at its monetary policy. The inflation in December 2020 came down from 6.93 per cent in November, mainly on account of 10.41 per cent decline in vegetable prices over the year-ago period.
Chinese companies who were actively pursuing business opportunities in India have adopted a wait and watch approach following the Chinese government clampdown.
Hailing clear majority for Narendra Modi-led BJP in the polls, real estate experts on Friday said a stable government at the Centre will help revive the property market.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
Consultants say at Rs 1,442 a sq ft, the developer has got a good bargain.
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