Real Estate Mumbai

Navi Mumbai police have registered an FIR against four individuals for allegedly cheating a 35-year-old real estate developer of Rs 66.75 lakh in a land deal. The accused forged documents to falsely claim ownership of a plot in Ulwe area and fabricated various agreements and transfer orders from CIDCO. They gained the trust of the developer from Sanpada and took Rs 66.75 lakh from him between December 2021 and January 2023. Based on the complaint, the police registered an FIR on Saturday for cheating, forgery, criminal breach of trust, and criminal conspiracy. The investigation is ongoing.

The Maharashtra Government has decided to expedite the completion of the first phase of Mumbai Metro 3 by the end of December 2024, shifting the deadline from the earlier target of September 2024. This phase will connect SEEPZ (Santacruz Electronics Export Processing Zone) to Bandra Kurla Complex. In a recent cabinet meeting chaired by Chief Minister Eknath Shinde, the government approved releasing its share of Rs 1,163 crore directly to the Mumbai Metro Rail Corporation, bypassing the Mumbai Metropolitan Region Development Authority (MMRDA). The project, now 98% complete, has a revised cost of Rs 37,275.50 crore.

The Bombay High Court has criticized the Maharashtra government and the Slum Rehabilitation Authority (SRA) for delaying the decision to change the developer of a stalled redevelopment project in Wadala (E). Justices Mahesh Sonak and Kamal Khata, in their order on Wednesday, rebuked the authorities for neglecting the plight of residents who vacated their premises in 2013 but are yet to receive promised permanent accommodation or transit rent. The court heard a petition from 20 members of Shaikh Misree SRA CHS, highlighting that Omkar Realtors and Developers Pvt Ltd, the current developer, stopped paying transit rent in 2015/2016 due to financial reasons, and no progress has been made on the rehabilitation building work since. Despite proposals from lender M/s J C Flowers Asset Reconstruction Pvt Ltd to take over the project, focusing only on changing the developer, no action has been taken. The judges emphasized that the petitioners are entitled to transit rent and criticized the lack of seriousness from all parties involved in resolving the issue. They directed Omkar to deposit all rent arrears with the court by July 24 and mandated the company's MD to personally appear in court if compliance is not met. The court also instructed the SRA and the State government to make firm decisions on the proposals within two weeks, highlighting the urgency of resolving the residents' grievances promptly.

Sobha Ltd, a prominent real estate firm, is launching a rights issue to raise up to Rs 2,000 crore starting June 28, aimed at bolstering its financial position. The issue, closing on July 4, involves issuing 1,21,07,981 equity shares at Rs 1,651 per share (including a premium of Rs 1,641 per share). The funds will primarily be used to reduce debt, acquire land, purchase machinery, and cover construction costs for ongoing and upcoming projects. Sobha Ltd, founded by PNC Menon in 1995, plans to increase its equity capital to Rs 10,000 crore over the next five years, with a strategic focus on expanding into Mumbai's luxury housing market. The company aims to achieve substantial growth, targeting a more than four-fold increase in annual sales bookings to Rs 30,000 crore in the next 4-5 years.

Conclusion

Current Rents for 1690 Sq.ft - 3 BHK are around 1.50 to 1.60 Lakhs

Current Rents for 1820 Sq.ft - 3 BHK are around 1.60 Lakhs to 1.80 Lakhs

Usually the apartments come semi furnished for renting with 1 or 2 car parking spaces in Podium of the building. 

The outright prices vary from 6 cr for a 1690 Sq.ft and 6.30 Cr for lower floors in Oberoi Exquisite.

For more information on Renting, Buying or Selling, Please Call Sandeep Sadh - 9820030685.

Thane Police's Crime Branch Unit-5 has apprehended a developer accused of defrauding two flat buyers of nearly Rs 2 crore. The buyers had been assured possession of their flats but were left waiting for over eight years due to alleged legal complications. In 2016, the complainants entered into agreements with the developer to purchase flats of approximately 650 square feet each in the Mogharpada area of Ghodbunder Road.

Trusting the developer, they secured bank loans and began monthly EMI payments. However, despite fulfilling their financial obligations, the buyers never received possession of the flats. Whenever they inquired, they were met with excuses regarding legal issues, according to Senior Inspector Vikas Ghodke of the Thane Crime Branch. Ghodke explained that a legal dispute arose when the landowner, on whose land the building was constructed, filed a case against the developer. The court subsequently barred the developer from selling the flats to third parties. Despite these court orders, the developer proceeded with registration and accepted payments from the buyers, promising them possession but failing to deliver.

The developer continuously postponed handing over the flats, citing the civil court's order preventing him from obtaining the necessary occupational certificate (OC). The complainant initially sought a refund, which the developer declined, offering the option to stay in the flat purchased. However, due to the incomplete building and lack of elevator facilities, the complainant refused. Subsequently, when the complainant again requested a refund and handed over a cheque, it was dishonored by the bank.

Consequently, the complainant lodged a case at the Kasarwadavali police station under sections related to cheating in the Indian Penal Code. The accused was presented in court and remanded to police custody for two days for further investigation. Police disclosed that the developer faces three similar cases.

Combined with world-class interiors, design and architecture, this association builds upon our vision of foreseeing the absolute potential of spaces, our commitment to shape the future of Mumbai's real-estate landscape and to elevate and transform lifestyles not only for our customers but also the residents in both locations.

We look forward to continuing our long- standing association with Marriott International considering our ongoing management agreement with our hotels The Westin Mumbai Garden City and The Ritz-Carlton, Mumbai.”

Building on the success of Oberoi Garden City, Goregaon, we are committed to enhancing Thane's lifestyle with luxury apartments, landscaped gardens, and world-class education. The JW Marriott Hotel Thane Garden City will add exemplary hospitality to the growing affluency of Thane.

These developments highlight Oberoi Realty's unwavering dedication to cultivate urban luxury communities. Embracing the core tenets of New Urbanism, Oberoi Realty strives to create dynamic and sustainable neighbourhoods that prioritize community well-being and connectivity, without compromising on luxury. Through innovative design principles and meticulous attention to detail, Oberoi Realty continues to lead the way in shaping the future of urban living in India. Residents can anticipate a seamless integration of luxury, convenience, and sustainability in every aspect of these developments.

Source - https://www.oberoirealty.com/media

Urban Boom Fuels Warehousing in India: Lodha & Skechers Build Mega Hub

Think shoes, lots of them! India's cities are popping with people and they're buying like crazy, especially trendy kicks from Skechers. To keep up, Skechers and India's top builder, Lodha, teamed up to build a monster warehouse near Mumbai – bigger than 10 football fields!

This isn't just about storing shoes, it's about getting them to you, the city dweller, fast. This mega-hub will zip 60,000 pairs a day to your doorstep, so you can rock those Skechers in no time. Plus, it's near all the big shopping hubs, making deliveries even smoother.

Imagine skipping long store lines and waiting forever for deliveries. This warehouse is like a magic shoebox, making your shoe dreams come true!

But it's not just about shoes. This is part of a bigger trend – India's cities are growing like crazy and everyone needs stuff, from clothes to gadgets. So, more warehouses are popping up like mushrooms to keep everyone happy.

Lodha and Skechers are leading the way, showing how to build smart warehouses that cater to the fast-paced lives of city folks. Think fancy tech that keeps track of every shoe and zips them around like lightning.

So, next time you slip on your new Skechers, remember, they might have come from a giant shoebox near Mumbai, built to keep up with India's urban boom!

Check out the news in 2022

https://economictimes.indiatimes.com/industry/indl-goods/svs/construction/lodha-to-develop-1-1-million-sq-ft-warehouse-distribution-center-for-skechers-at-palava/articleshow/92382276.cms

Another Article in Hindustan Times.

https://www.hindustantimes.com/cities/mumbai-news/us-footwear-major-skechers-opens-6-lakh-sq-ft-warehouse-in-palava-101703185969638.html

Link to the Skechers Launch

<iframe width="1202" height="676" src="https://www.youtube.com/embed/SxIwMl8zJhQ" title="Skechers opens 1st National Distribution Centre (NDC) in Lodha Industrial &ampx; Logistic Park Palava" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

We have been witnessing a lot of new Township projects in the periphery of Mumbai, be it towards Thane, Dombivali, Navi Mumbai or Virar etc. But the one which takes away the cake is Lodha Upper Thane located 10 Min Drive from Majiwada equal to going upto Hiranandani Estate.

Introducing - Lodha Villa Royale which gives you the best experience at your home, with high ceilings to be living right here in Mumbai in your own piece of land with your own garden, that itself is just so so amazing. Come find out what inspired Sussanne Khan. You have 3 options here, Just Buy the Plots in the Community Development, keep it for a few years and construct on your own. You can buy Land plus Villa which is super structure done by Lodha itself an you can then furnish it as your own or even you can have even the designers recommended by Lodha to finish for you.

This is a Brand New Township where Lodha Group has nearly 200 Acres of Land and its off the Mumbai Nasik Highway and 1 Hour from Airport and 45 Min to BKC and around 60 Min to Colaba via Eastern Free Way.

Every thing here is Brand New, that is the beauty, its one of the nicest and cleanest complex with wide roads, a Cricket Ground, Football Ground, School and a Temple in the Complex. 

This is ideal for any one looking to Buy a Home or an Investment in Mumbai which is bound to have a steady Capital Appreciation. The Lodha Group has also launched Villas in this Scheme and i can only share that it feels like Dubai, Surrey (Vancouver, Canada) or the gated community villas in USA with Club Houses etc.

If you are looking to Invest or have a Home not far away from Mumbai, then this is the best bet you can have. Focus is on Quality Life, ZERO Pollution, the Temperature is 3 degrees cooler than Mumbai at night and of course the peace of mind to have a Home or your Private Villa which can be as large as 650 or 800 Sq.Yards or 250 Sq.yards with your own back yard and your own car parking space to charge your New EV.

A few of the Points which come to my mind for Choosing this for you as an Investment or a Home.

Spacious, well-planned township: Lodha Upper Thane is a large and well-planned township with over 200 acres of land. More than 80% of the development is dedicated to open spaces, parks, and gardens, providing residents with a green and healthy environment.

World-class amenities: The township offers a wide range of amenities, including clubhouses, swimming pools, gyms, sports facilities, children's play areas, retail outlets, restaurants, and healthcare facilities, ensuring a convenient and comfortable lifestyle for residents.

Excellent connectivity: Lodha Upper Thane is well-connected to Mumbai and other parts of the Mumbai Metropolitan Region by road, rail, and air. The Eastern Express Highway, Thane railway station, and Chhatrapati Shivaji Maharaj International Airport are all easily accessible, making it convenient to commute to work or travel to other parts of the city.

High-quality construction: Lodha Group is known for its high-quality construction and finishes. Apartments at Lodha Upper Thane are spacious, well-ventilated, and naturally lit, and come equipped with modern features and finishes.

Strong community: Lodha Upper Thane is home to a vibrant and diverse community of residents. The township regularly organizes cultural and educational events, fostering a sense of belonging and togetherness.

Investment potential: As Thane is a rapidly developing city, property values in Lodha Upper Thane are expected to appreciate over time, making it a good investment option.

https://www.youtube.com/watch?v=_qBU-LEDbU4 - Lodha Villa Royale designed by Sussanne Khan.

If you are looking to consider a Home in Mumbai and have the Lifestyle of Dubai or International then this is for you!!

Call - Sandeep Sadh - 9820030685 for a detailed presentation.

Developer Subvention or a Construction Linked Plan - What is better?

Developer Subvention:

Pros:

• Lower EMI burden during the construction period, as the developer pays the interest on your loan.
• More flexible payment plan, as you only start paying EMIs after possession.
• Can be a good option if you are short on funds and need time to arrange the down payment.

Cons:

• Higher interest rates compared to CLPs, leading to a higher overall loan cost.
• Developers may default on interest payments, leaving you with the burden.
• You lose control over the loan and the developer may delay the project.

Construction Linked Plan (CLP):

Pros:

• Lower interest rates compared to Subvention schemes, leading to lower overall loan cost.
• Greater transparency and control over the loan, as you directly pay the bank.
• Less risk of defaults, as the developer receives payments based on construction progress.

Cons:

• Higher EMI burden during the construction period, as you start paying pre-EMIs on the disbursed loan amount.
• Requires a larger down payment upfront.
• May not be suitable if you have limited funds.

Here are some additional factors to consider:

• Your financial situation: If you are short on funds, a subvention scheme can offer some relief. However, if you can afford higher EMIs, a CLP is a better option in the long run.
• The developer's reputation: Choose a developer with a good track record and financial strength to minimize the risk of defaults.
• The project timeline: If the project completion date is uncertain, a subvention scheme may be less risky.
• Your risk tolerance: If you are risk-averse, a CLP is the safer option.

Ultimately, the best way to decide is to consult with a financial advisor who can assess your individual circumstances and recommend the most suitable option.

Whether taking a home loan and buying for self-use is a good idea in Mumbai depends on your individual circumstances and priorities. Here are some factors to consider:

Current Interest Rates:

• Yes, current interest rates are high compared to historical lows. However, they are expected to stabilize or even decrease in the future.
• If you have a stable income and can afford the monthly payments, you can lock in a fixed interest rate for a longer tenure to protect yourself from future rate hikes.

Property Market in Mumbai:

• Mumbai's property market is resilient and has historically shown consistent growth. While prices might fluctuate in the short term, the long-term trend is positive.
• Investing in real estate can be a good way to build wealth and hedge against inflation.

Your Financial Situation:

• Can you afford the down payment, closing costs, and monthly mortgage payments?
• Do you have other financial obligations, such as credit card debt, student loans, etc.?
• Make sure you have a comfortable financial cushion to cover unexpected expenses.

Your Personal Preferences:

• Do you value the stability and security of owning your own home?
• Are you tired of renting and dealing with landlords?
• Consider the additional responsibilities and maintenance costs associated with homeownership.

Alternatives to Buying:

• Renting can be a viable option if you are not sure about your long-term plans or cannot afford a down payment.
• Consider investing in other asset classes, such as stocks or mutual funds, if you are looking for higher potential returns.

Here are some resources that might help you make an informed decision:

• Compare home loan rates and features from different lenders.
• Use a mortgage calculator to estimate your monthly payments and total loan cost.
• Consult with a financial advisor to assess your personal financial situation and create a plan.

Ultimately, the decision of whether to buy a home in Mumbai is a personal one. Weigh the pros and cons carefully and make sure you are comfortable with the financial commitment before taking a home loan.

The rules of capital gains investments after selling a property vary based on the location and the specific circumstances of the sale. However, there are some general principles that apply in most cases:

Capital Gains Tax:

• Selling a property generally triggers capital gains tax, which is calculated on the difference between the sale proceeds and the cost of acquisition (purchase price + improvement costs).
• The tax rate varies depending on the holding period of the property and whether it is classified as long-term or short-term capital gains.

Long-Term Capital Gains:

• These apply to properties held for more than a specific period (typically 24 months in India).
• They are generally taxed at a lower rate than short-term capital gains.

Short-Term Capital Gains:

• These apply to properties held for less than the specified period.
• They are taxed at a higher rate than long-term capital gains.

Exemptions:

• Certain exemptions may be available to reduce or eliminate capital gains tax, such as:
  • Investment in residential property: Reinvesting the capital gains in a new residential property within specified timelines can exempt the tax.
  • Capital Gains Account Scheme (CGAS): This scheme allows you to deposit the capital gains in a notified bank account and invest them in specific instruments within a specific period to claim exemption.
  • Other exemptions: There may be additional exemptions based on specific situations, such as agricultural land, inheritance, etc.

Reporting and Payment:

• You are required to report capital gains from property sales in your income tax return and pay the applicable tax.
• Deadlines for reporting and payment vary depending on the location and tax regulations.

Additional Considerations:

• Indexation: The cost of acquisition is adjusted for inflation for calculating the capital gains, reducing the tax burden.
• Depreciation: Depreciation on the property can be deducted from the capital gains for tax purposes.
• Professional advice: Consulting a tax advisor is recommended to understand the specific tax implications and optimize your tax liability.

The Coastal Road from Marine Drive to Bandra East is expected to have a significant impact on real estate prices in Mumbai, both positive and negative.

Positive impacts:

• Increased demand: The improved connectivity and reduced travel time are expected to make areas along the Coastal Road more desirable places to live. This increased demand is likely to drive up real estate prices in these areas purely due to ease of commuting.

• Increased investment: The Coastal Road project is expected to attract new businesses and investments to Mumbai. This will lead to increased demand for office space and other commercial properties, which could further boost real estate prices.
• Premium waterfront properties: Properties located directly on the Coastal Road or with views of the sea are likely to be in high demand and command a premium price.
• Improved infrastructure: The Coastal Road project includes the development of new infrastructure, such as parks, beaches, and public spaces. This will make areas along the road more attractive to live and work, further boosting real estate prices.
• Early signs of appreciation: Many areas that will be impacted by the Coastal Road have already seen a price appreciation of 5-15% since the project's inception. This suggests that the project is already having a positive impact on real estate prices.
• As distances will shrink to suburbs there is a possibility of higher demand of larger size properties in Suburbs as the growing families of South Mumbai will sell and buy larger size flats in Suburbs.
  

Negative impacts:

• Gentrification: The increased demand for real estate along the Coastal Road could lead to gentrification, as wealthy buyers displace existing residents. This could lead to higher rents and property taxes, making it difficult for low-income residents to afford to live in these areas.
• Disruption during construction: The construction of the Coastal Road is likely to cause disruption to residents and businesses in the area. This could lead to stagnancy for some time.
• Limited availability: The amount of land available for development along the Coastal Road is limited so one has to see the exact impact only after the total coastal road which is proposed till Andheri West to see the long term impact.

Overall, the impact of the Coastal Road on real estate prices is likely to be complex and varied. The markets will calibrate in certain pockets. However, the project is expected to have a positive impact on prices in the long term.

Here are some specific examples of how the Coastal Road is expected to impact real estate prices in different areas:

• South Mumbai: Properties in South Mumbai are already some of the most expensive in the city. The Coastal Road is expected to further increase demand for these properties, however, the general feel is this that the older properties may get traction due to potential redevelopment.
  
• Worli: Worli is a rapidly developing area that is already home to many high-end businesses and residences. The Coastal Road is expected to make Worli even more attractive to investors, leading to a further boom in real estate prices. Prime properties in Worli are quoted upwards of 60000 PSF.
  
• Bandra: Bandra is a popular residential and commercial area that is well-connected to other parts of Mumbai. The Coastal Road is expected to make Bandra even more desirable, leading to a demand however, entry into Bandra from Reclamation Side or the S V road side is very slow.
  
• Western Suburbs: The Western Suburbs are home to a large and growing population. The Coastal Road is expected to improve access to these areas, making them more attractive to buyers and renters. This is likely to lead to a rise in real estate prices in the Western Suburbs and far suburbs.

It is important to note that these are just predictions, and the actual impact of the Coastal Road on real estate prices will depend on a number of factors, including the overall state of the Mumbai economy, the availability of financing, and government policies and how the traffic movement eases the commute.

Several ongoing and upcoming infrastructure projects in Mumbai are poised to significantly impact the city's real estate landscape in the immediate future. Here are some key highlights:

1. Metro Network Expansion:

• Mumbai's ambitious metro network expansion, with over 14 lines planned, is expected to significantly improve connectivity across the city. This will lead to increased demand for properties near metro stations, particularly in currently undervalued areas like Bhandup, Dombivli, and Kalyan-Shil Road.
• Improved connectivity will also reduce travel times and congestion, making these areas more desirable for residential and commercial development, leading to property value appreciation.

2. Coastal Road Construction:

• The construction of the Mumbai Coastal Road is expected to ease traffic congestion and improve access to the southern parts of the city. This project will likely boost property values in areas like Worli, Nariman Point, and Cuffe Parade, which will benefit from improved connectivity and reduced travel time.
• Additionally, the coastal road will open up new beachfront development opportunities, potentially leading to the creation of high-end residential and commercial complexes.

3. Trans-Harbour Link:

• The Trans-Harbour Link (THL) will connect Sewri in Mumbai to Nhava Sheva in Navi Mumbai, significantly improving connectivity between the two cities. This project is expected to boost real estate development in Navi Mumbai, particularly in areas like Ulwe, Panvel, and Kharghar.
• The THL will also make it easier for residents of Navi Mumbai to commute to jobs in Mumbai, leading to increased demand for housing in these areas.

4. Airport Development:

• The development of a new airport in Navi Mumbai is expected to further enhance connectivity and attract significant investment to the region. This will likely lead to increased demand for residential and commercial properties in areas around the airport, such as Kharghar, Kalamboli, and Taloja.
• The airport will also act as a catalyst for the development of various industries, such as hospitality, logistics, and aviation, further boosting the overall real estate market.

5. Other Infrastructure Projects:

• Other infrastructure projects like waterway development, bridge construction, and road repairs are also underway in various parts of Mumbai. These projects will improve connectivity within the city and to neighboring areas, leading to increased demand for properties in these locations.
• Additionally, the ongoing focus on smart city initiatives and green infrastructure development is attracting investors and developers, contributing to the overall transformation of the city's real estate landscape.

Overall, these ongoing and upcoming infrastructure projects are expected to have a profound impact on Mumbai's real estate market. They will improve connectivity, unlock new development opportunities, and lead to increased demand for properties in various parts of the city.

It's important to note that the specific impacts will vary depending on the location and type of property. Additionally, any unforeseen challenges or delays in project completion could impact the projected outcomes.

It's likely that Tier II cities will have strong real estate growth prospects in the future, possibly outperforming Tier I cities due to a variety of factors, including:

Upcoming Infrastructure Development:

• Improved connectivity: Many Tier II cities are undergoing significant infrastructure development projects, including improved transportation networks (metros, highways, airports), which will enhance connectivity and accessibility, making them more attractive to businesses and residents.
• Greenfield infrastructure: Unlike Tier I cities facing limitations in existing infrastructure, Tier II cities have the advantage of developing greenfield infrastructure projects, allowing for planned and efficient growth.
• Smart city initiatives: Several Tier II cities are implementing smart city initiatives, focusing on sustainability, technology integration, and improved living standards, further attracting investment and development.

Economic Growth:

• Shifting business landscape: Many businesses are decentralizing operations, moving from saturated Tier I cities to Tier II locations offering lower operational costs and access to a growing talent pool.
• Industrial corridors: Tier II cities situated along industrial corridors benefit from increased industrial activity, leading to job creation and economic growth.
• Emerging IT hubs: Several Tier II cities are emerging as major IT hubs, attracting talent and fostering a dynamic business environment.

Affordability:

• Lower property prices: Compared to Tier I cities, property prices in Tier II cities are still relatively affordable, making them attractive to both end-users and investors.
• Better quality of life: With lower living costs, less congestion, and a more relaxed pace of life, Tier II cities offer a desirable alternative to expensive and crowded Tier I cities.

Growing middle class:

• Rising disposable incomes: The growing middle class in Tier II cities has increasing disposable income, fueling demand for quality housing and improved living standards.
• Shifting consumer preferences: Consumers are increasingly looking beyond metros for better value and improved quality of life, driving demand in Tier II locations.

However, it's important to note that growth prospects can vary significantly among Tier II cities. Factors such as specific infrastructure projects, economic focus, and government initiatives will play a significant role in determining their individual growth potential.

Here are some additional points to consider:

• Tier I cities still have strong fundamentals: They boast established economies, large talent pools, and robust infrastructure, ensuring continued demand and investment.
• Real estate market fluctuations: The overall real estate market is subject to cyclical fluctuations, and individual cities within each tier may experience highs and lows.
• Importance of due diligence: Careful research and analysis are crucial for making informed investment decisions in any city, regardless of its tier classification.

Overall, Tier II cities present a compelling opportunity for real estate growth due to their favorable demographics, economic potential, and upcoming infrastructure development. However, it's vital to conduct thorough research and analysis before making any investment decisions.

Introduction:

Investing in Mumbai can be a rewarding experience, but choosing the right option can be challenging. This guide delves into the pros and cons of two popular investment options: real estate and equity, to help you make an informed decision.

Real Estate:

Advantages:

• Tangible asset: Owning real estate provides a physical asset with potential for long-term appreciation in value.
• Stable income: Renting out your property can generate a steady and recurring income stream.
• Hedge against inflation: Real estate prices generally keep pace with inflation, protecting your purchasing power.
• Tax benefits: You may be eligible for tax deductions on interest paid on home loans and depreciation.
• Diversification: Real estate can diversify your portfolio and minimize overall risk.

Disadvantages:

• High initial investment: Real estate requires a significant upfront investment, limiting accessibility for some investors.
• Low liquidity: Selling a property can be time-consuming and finding buyers can be challenging.
• Management responsibilities: Ownership entails managing maintenance, repairs, and tenant issues.
• Market fluctuations: Real estate markets are subject to fluctuations, leading to potential losses.
• Long-term commitment: Real estate investments require a long-term commitment and are not easily disinvested.

Equity:

Advantages:

• High potential returns: Equity investments offer the potential for significantly higher returns compared to real estate, especially in the long run.
• Liquidity: Stocks are easily traded on exchanges, providing high liquidity and enabling quick adjustments.
• Diversification: Equity markets offer a vast array of investment options, allowing for diversification across sectors and asset classes.
• Professional management: Equity investments are managed by professionals, eliminating the need for individual management.
• Global exposure: Equity investments can provide access to international markets and opportunities.

Disadvantages:

• High volatility: Equity markets can be highly volatile, leading to potential losses in the short term.
• No income guarantee: Unlike real estate, equity investments do not guarantee income.
• Requires market knowledge: Investing in equities requires research and understanding of market trends and factors.
• Risk of capital loss: The value of equities can fluctuate significantly, leading to potential losses.
• Dependence on external factors: Equity markets are influenced by various external factors, such as economic conditions, political events, and interest rates.

Choosing the Right Option:

• Investors seeking stable income and long-term wealth creation with a lower risk appetite may find real estate a better fit.
• Investors seeking higher potential returns, portfolio diversification, and acceptance of higher volatility may favor equities.

Ultimately, the best option depends on your individual financial goals and circumstances. Carefully analyze your risk tolerance, investment horizon, and financial situation before making a decision. Consulting with a financial advisor can provide valuable insights and help you choose the investment option that best aligns with your needs and goals.

Additional Considerations:

• Investment horizon: Consider your long-term financial goals and how long you can commit to an investment.
• Risk tolerance: Assess your willingness to accept potential losses and choose an investment that aligns with your risk appetite.
• Financial situation: Evaluate your current financial resources and any existing liabilities before making a significant investment.
• Market conditions: Research current trends and forecasts for both real estate and equity markets before investing.
• Tax implications: Understand the tax implications of each investment option to ensure optimal financial planning.

Conclusion:

Choosing between real estate and equity investments requires careful consideration of your individual circumstances and investment goals. By weighing the advantages and disadvantages of each option, conducting thorough research, and seeking professional advice, you can make an informed decision that best suits your financial needs and aspirations.

Amidst the shadows of skepticism, a new name emerges in the Mumbai real estate scene. Man Infraconstruction, a contractor-turned-developer, is embarking on a daring project - building India's tallest building. This 312-meter, 81-floor marvel promises to reshape the city's skyline and rewrite the narrative of the Indian construction industry. Aaradhya Avaan is the name of the new project launched at Tardeo which is likely to the tallest building in Mumbai by 2030.

Around 20 Years back Shreepati Arcade was launched in the same micro market and it was one of the tallest towers then and people had apprehension of viabilty and of course the completion time is longer, today it stands tall and yes, for a lot of Gujarati, Marwadi and Jain families of South Mumbai they are pretty close proximity to all they want from Tardeo. Marine Drive being literally 5 min drive or a 15 min leisure walk.

While some may question the audacity of such a venture, Manan Shah, the young leader of MICL, remains undeterred. He believes that his family's 50-year legacy of quality and expertise in construction gives them the foundation to succeed. Unlike established developers, MICL's unique advantage lies in their contractor roots. With zero reliance on external contractors, they aim for unparalleled execution efficiency and control over the project's quality.

Undeterred by financial concerns, Manan asserts that strong sales velocity indicators and a focus on initial investment will minimize their dependence on debt. This confident stance, coupled with the project's prime location in Tardeo, South Mumbai, fuels optimism for its success.

Despite some concerns regarding the niche market and long completion timeframe, this project offers immense potential. If successful, MICL will not only carve its name in Mumbai's real estate landscape but also inspire a renewed spirit of ambition and innovation in the industry.

Beyond the financial gains, this project embodies the spirit of dreaming big and pushing boundaries. Man Infraconstruction's journey is a testament to the power of hard work, vision, and a commitment to quality. It will be fascinating to witness the unfolding of this ambitious project and the impact it will have on the city and the industry.

The project stands as a beacon of hope, showcasing the potential for India to leave its mark on the global scene of architectural marvels. It ignites the imagination and inspires us to believe that anything is possible with unwavering determination and a dash of daring ambition.

Translated Version

Revenue and Forest Department/M-1 (Policy)

Draft Minutes of Cabinet Meeting

Subject: Regarding the Implementation of "Maharashtra Stamp Duty Abhay Yojana 2023" in the State of Maharashtra...

The Revenue (Stamp Duty and Registration) Department, in a meeting held on November 29, 2023, discussed the proposal submitted regarding the implementation of the "Maharashtra Stamp Duty Abhay Yojana 2023." The Cabinet has made the following decisions:

1. The "Maharashtra Stamp Duty Abhay Yojana 2023" will be implemented in two phases: from December 1, 2023, to January 31, 2024, and from February 1, 2024, to March 31, 2024.

2. The Abhay Yojana will be valid for specific types of documents executed on stamp paper sold by government-recognized stamp dealers or authorized mechanisms.

3. Documents executed by various authorities, such as MHADA, CIDCO, Municipal Corporations, Development Authorities, etc., will be eligible for the scheme.

4. In connection with the remission of stamp duty and penalty in pending cases, the following approvals have been granted for documents executed between January 1, 1980, and December 31, 2000:

   a. First Phase of the Scheme:

   • Stamp duty up to Rs.1,00,000: 100 percent exemption; Penalty: 100 percent rebate
   • Stamp duty above Rs.1,00,000: 50 percent exemption; Penalty: 100 percent rebate

   b. Second Phase of the Scheme:

   • Stamp duty up to Rs.1,00,000: 80 percent exemption; Penalty: 80 percent rebate
   • Stamp duty above Rs.1,00,000: 40 percent exemption; Penalty: 70 percent rebate

5. For documents executed between January 1, 2001, and December 31, 2020, the scheme offers exemptions and concessions on stamp duty and penalties based on specific criteria.

6. The translated version of the decision has been approved to be published immediately in the Government Gazette.

Disclaimer: This translation is an attempt to facilitate understanding and is not legally binding. Individuals are advised to verify the contents with the official Marathi circular and seek advice from legal advisors and respective government departments before making decisions based on the above information. The translator holds no liability for any consequences.

Hiranandani Group Expands with Eleva – A Pan-India Real Estate Consultant Service

In a recent announcement on November 29, the Mumbai-based real estate developer, Hiranandani Group, unveiled its new venture, Eleva. This venture aims to revitalize stalled or stressed projects without fresh investment, focusing on a pan-India consultant service-led business model.

Eleva offers a comprehensive suite of services, including development, construction, design, marketing, and sales-oriented solutions to other real estate companies. The move is geared towards exploring niche opportunities, expanding the Hiranandani Group's real estate footprint, leveraging its brand equity, and extending its development expertise to others.

Niche Opportunities and First Project

Niranjan Hiranandani, founder of the Hiranandani Group, expressed confidence in Eleva's potential. He mentioned, "There are various proposals in the market where this type of positioning will help. I have already received calls from a bank seeking assistance with sales and the completion of a stressed project."

Eleva's first project involves acting as a consultant for a 3.33 lakh square foot development in the Andheri West area of Mumbai. The project comprises three towers of 33 storeys each, offering a mix of two- and three-bedroom apartments. Prices range from Rs 3 crore to 3.7 crore for the two-bedroom homes and from Rs 4 crore to 4.5 crore for the three-bedroom apartments.

The project, approved by the Real Estate Regulatory Authority (RERA), is slated for delivery in December 2028, adhering to RERA timelines.

Future Plans and SWAMIH Investment Fund

While Eleva anticipates no new investment, the group acknowledges the need for additional personnel to handle upcoming projects. Eleva has already secured its first project and looks forward to contributing to the real estate landscape.

In parallel, the Special Window for the completion of Affordable and Mid-Income Housing (SWAMIH) Investment Fund, tasked with funding stalled projects, has delivered 23,000 homes since its inception three years ago. The Rs 15,530 crore fund aims to deliver an additional 20,000 homes by the year-end, totaling 43,000 homes across tier 1 and 2 cities.

The SWAMIH Fund has approved 131 projects, unlocking liquidity worth Rs 35,879 crore, with a committed deal size of Rs 13,600 crore across these projects.

For more details and updates on Eleva's projects and the real estate market, stay tuned.

Title: Luxurious Living in Mumbai's Worli Area - Everest Food Products' Promoter Acquires a Stunning Apartment

Mumbai, a city known for its bustling energy and luxurious living, has witnessed a significant real estate transaction in the upscale Worli area. The promoter of Everest Food Products Private Limited, the iconic Indian spice brand, recently made a remarkable investment in the city's property market.

Location: Worli's Three Sixty West Project

The luxurious acquisition took place in the prestigious Three Sixty West project developed by Oberoi Realty. Situated in the heart of Worli, this mixed-use development is a blend of sophistication and modernity. Comprising two towers—one housing The Ritz-Carlton Hotel and the other hosting ultra-luxury residences—Three Sixty West stands as a testament to Mumbai's evolving skyline.

The Jewel in the Crown: A 6,130 sq ft Apartment

The focal point of this transaction is a lavish apartment spanning 6,130 sq ft in carpet area. The property comes with the added convenience of six parking spaces, providing a rare commodity in the bustling city. Oberoi Three Sixty West is a Marquee project and it invites Top of the Line Industrialists, CEO, Chairman's and large business families. Its a crowd puller on its own. The Top business families have chose Oberoi Three Sixty West to be their Home in Mumbai.

A Glimpse into the Development

Three Sixty West has garnered attention not just for its luxurious residences but also for housing The Ritz-Carlton Hotel. Developed by Oberoi Realty in collaboration with Sahana Group, the project represents a significant investment in Mumbai's real estate landscape. The apartment in question is one of the 60-plus units acquired by Oberoi Realty, marking a substantial venture into this upscale development.

India's Largest Property Deal

The Three Sixty West project made headlines in 2023 for being part of India's largest property deal. The acquisition involved 28 units by the family members and associates of Radhakrishna Damani, the billionaire founder of D’Mart. This landmark transaction, officially registered on February 3, further solidifies the stature of Three Sixty West in Mumbai's real estate market.

Conclusion

As Mumbai continues to be a hub of luxury living, the acquisition in Three Sixty West adds another chapter to the city's real estate narrative. The blend of opulence, strategic location, and the developer's reputation makes this investment a noteworthy addition to the landscape of Mumbai's Worli area.

Oberoi Realty Launching Forestville, a project by Oberoi Realty Ltd, located in the thriving area of Kolshet Road, Thane. Thane is a growing suburb with Metro and Goregaon Mulund Link Road etc and excellent connectivity to be built in the next 3 - 4 years will give Oberoi Forestville a good impetus of capital appreciation.

As you may be aware Oberoi Realty Ltd is a listed Company in the BSE/NSE and is a debt free company and all Oberoi Realty Projects are Premium and they command a good resale and lease rental values.

 If you are looking for a Long Term Investment and investing say around INR 1.87 onwards over the next 5 Years (which averages out to 50 to 60 Lakhs) a year then this is a great opportunity. The way to simply look at this as an investment is to compare it with Oberoi Garden City Prices, launch in Oberoi Exquisite was around INR 2.00 Cr and today its INR 6.00 Cr approximately as base price. We anticipate a fair capital appreciation in Oberoi Forestville.

Oberoi Forestville - Project Highlights:

• Total Area: 18 Acres (Approx)
• Construction Area: 9 Acres – Balance will be a Green Zone
• Number of Towers: 5 – Current Launch is for Tower B & C
• Tower Height: 60 Floors

Apartment Configurations:

• 3 BHK: Spacious apartments measuring 1090 Sq.ft, including a balcony (INR 1.87 Cr onwards)
• 4 BHK which is a combination of a 3 BHK + Studio 280 Sq.ft  totalling to a spacious 1367  sq.ft of Carpet Area (INR 3.00 Cr onwards)

These prices are tentatively given, the final price will be announced on 24^th November 2023.

Booking Details and Finance:

• Oberoi Forestville – Bookings start on 24^th of November 2023 and an EOI – Expression of Interest is mandatory. We will fill the same for you after you share your interest in principle.       On EOI - Rs.11 Lakhs – 24^th November 2023 – 3 BHK
• On EOI - Rs.15 Lakhs – 24^th November 2023 – 4 BHK
• Down Payment required will be around 10% with in 15 days (Approximately)
• Stamp Duty will be 7% in Thane
• 5% GST is payable over and above the Agreement Value
• Home Loans available
• Each apartment will have 2 car parking spaces minimum

Unique Selling Proposition (USP):

Forestville boasts the distinction of being the tallest in Kolshet, providing panoramic views and an iconic presence. It has a Niche Premium Crowd of  Home Buyers of 3 and 4 BHK category and will be one of the most premium projects in Kolshet when its ready in 2028 – 2029. A lot of neighbouring buildings in Forestville, have 1/2/3/4 BHK mixed use, but Oberoi Forestville is going to be 3 and 4 BHK Only (4 BHK is a combination of 3 BHK + Studio) which will only be sold as 4 BHK.

All Oberoi Projects have a fantastic elevation and the discipline maintained after handover in the maintenance of the buildings make them look the same. Classic Example – Oberoi Exquisite and Esquire (Goregaon East) are 10 years old and they look as good as new today.

We are preferred Channel Partners of Oberoi Realty Ltd since the Year 2001. We would be glad to assist you in assisting you to Buy a Home or Invest and guide you through the process.

For further information or to schedule a visit, please feel free to contact us at 9820030685 - Sandeep Sadh

Oberoi Forestville is a RERA registered Project - MahaRERA - P51700050312

Having a Home is one the most important need of each one of us, it can surely be rented, but for a lot of us having our Own Home is important. We put our lives savings in it and we need to be very agile and knowledgeable in case we are taking a Home Loan and we need to know our EMI Per Month, Type of Loan, Principle and Interest Portion. Recently Bajaj Finance has offered an option to increase the tenure of the Home Loans till 40 Years.

Let us assume that you are a 40 year old salaried employee, and for you buying a home is important and buying the Home with a home loan is a significant financial decision. One crucial aspect to consider is the loan tenure, which determines the duration of your repayment journey. Selecting the right tenure can have a significant impact on your monthly finances, interest payments, and overall financial goals. In this guide, we'll explore key factors to help you make an informed decision on the ideal home loan tenure.

EMI Chart per Lakh for Different Loan Tenures, this will help in understanding the Monthly EMI and Principle Amount.

Here is an approximate EMI chart per lakh for different loan tenures at an interest rate of 8.5%:

Loan Tenure | EMI per Lakh (in INR) | Principal Component per Lakh (in INR) | Interest Component per Lakh (in INR)

10 years | Rs. 1,215.71 | Rs. 839.36 | Rs. 376.35

15 years | Rs.897.25 | Rs. 652.83 | Rs. 244.42

20 years | Rs.766.88 | Rs. 523.25 | Rs. 243.63

25 years | Rs. 698.94 | Rs. 466.34 | Rs. 232.60

30 years | Rs. 656.88 | Rs. 422.78 | Rs.234.10

35 years | Rs. 629.55 | Rs. 389.07 | Rs. 240.48

40 years | Rs. 610.68 | Rs. 361.26 | Rs. 249.42

Considerations for Choosing the Right Tenure:

1. Monthly EMI: Evaluate your monthly cash flow and choose a tenure that allows you to comfortably manage your Equated Monthly Installments (EMIs). Longer tenures result in lower EMIs, while shorter tenures lead to higher EMI amounts. Assess your budget and financial stability to determine the EMI amount that aligns with your financial goals.

2. Interest Burden: It's crucial to consider the interest burden associated with different loan tenures. Longer tenures generally result in higher overall interest payments over the loan term. On the other hand, shorter tenures result in lower interest payments. Calculate and compare the total interest amount you would pay over various tenures to assess which option suits your financial objectives.

3. Financial Stability: Assess your financial stability and job security. If you have a stable income and anticipate no major changes in the future, opting for a shorter tenure can help you clear your debt faster. However, if your income is uncertain or you expect other financial commitments, choosing a longer tenure with lower EMIs could provide more flexibility in managing your monthly finances.

4. Future Plans: Consider your future plans, such as retirement or other significant financial goals. If you have other investment opportunities or financial aspirations, selecting a shorter tenure can help you become debt-free sooner and focus on other objectives. However, if you have a longer working life ahead, you might consider a tenure that extends beyond your retirement age.

5. Age and Retirement: Factor in your age and expected retirement age when deciding on the loan tenure. If you plan to retire within the loan tenure, opting for a shorter tenure would be beneficial, as it allows you to repay the loan before retirement. However, if you have a longer working life ahead, you might opt for a tenure that extends beyond your retirement age while considering the implications of interest payments during your retirement years.

The information provided in this article is for informational purposes only and should not be considered as financial advice. Readers are advised to consult with a financial advisor or mortgage professional for personalized guidance based on their specific circumstances.

With so many new buildings coming up in Mumbai, Co-operative housing societies will be formed.

In Maharashtra, societies are typically formed under the Maharashtra Cooperative Societies Act, 1960. This act provides the legal framework for the formation, registration, and governance of cooperative societies, including housing societies, in the state.

Here are the general steps involved in forming a society in Maharashtra:

1. Minimum number of members: A minimum of ten individuals is required to form a society. They should come together with a common objective, such as managing a housing complex, promoting a common interest, or providing a specific service.

2. Drafting the society's bylaws: The founding members need to draft the bylaws of the society. The bylaws outline the rules, regulations, and procedures for the functioning of the society. They cover aspects such as membership, management structure, election procedures, financial matters, and dispute resolution mechanisms.

3. Holding a general meeting: Once the bylaws are drafted, a general meeting of all the founding members should be held. During this meeting, the bylaws are discussed, amended if necessary, and approved by the members.

4. Registration of the society: After the bylaws are approved, the society needs to be registered with the concerned authority. In Maharashtra, the office of the Registrar of Cooperative Societies handles the registration process. The application for registration, along with the necessary documents and fees, should be submitted to the registrar.

5. Verification and approval: The registrar verifies the submitted documents and ensures that they comply with the requirements of the Maharashtra Cooperative Societies Act. If everything is in order, the registrar will approve the registration and issue a certificate of registration.

6. Opening a bank account: Once the society is registered, it can open a bank account in the name of the society. The society's funds and transactions should be managed through this account.

7. Commencement of society activities: With the registration and bank account in place, the society can commence its activities according to the approved bylaws. This includes collecting membership fees, managing common facilities, conducting elections for the management committee, and maintaining financial records.

It's important to note that the process of forming a society may involve additional requirements, depending on the type of society and specific circumstances. It's advisable to consult legal professionals or experts in cooperative societies to ensure compliance with the latest laws and regulations in Maharashtra.

K Raheja Corp Homes, the residential business of K Raheja Corp group, reported that it sold properties worth Rs 1,100 crore during the March quarter. This achievement was attributed to the success of their luxury residential project, Raheja Modern Vivarea, located in South Mumbai.

The sales revenue was generated within a span of fewer than 90 days, marking a record-breaking achievement for the company. It's a significant accomplishment for K Raheja Corp Homes and demonstrates the demand for luxury properties in the South Mumbai real estate market. The apartments at Raheja Modern are facing the race course and give an under hindered view of the Race Course and upcoming Coastal Road.

There is immense competition in this belt and range of 10 Cr - and K Raheja Corp reputation and the past deliveries of Vivarea with the quality and returns and good ROI on rental has prompted lots of buyers to purchase here.

In case you are looking for more information or site visit call - Sandeep Sadh - 9820030685

Bandra East - Kher Nagar - the area off the Express Highway is a boon and blessing for commuters who need to reach BKC and in their offices/banks bang on time. The area has seen investments from Rustomjee, Shapoorji, Antariksh Group to name the few. The 1 BHK apartments start in the location from 1.50 Cr and 2 BHK in the range of around 2.20 Cr. These prices are excellent and comparable to Borivali East - West etc.

Imagine leaving from your home from Bandra East, cross the road and get into the Jio Mall and have a Fresh Coffee at Pret A Monger or visit the Apple Store to upgrade your Macbook Air or your Iphone in a few minutes and also to reach office in 10 - 15 min without stress.

We see this as a growth area and it offers a sheer sense of comfort.

• BKC's strategic location in the heart of Mumbai offers excellent connectivity to all parts of the city.
• Situated in a central location on the northern side of Mahim Creek, BKC is bordered by Kurla to the east, Bandra to the west, and Santacruz to the north. It enjoys easy access to Bandra and Kurla railway stations, serving the Western, Harbour, and Central lines of the Mumbai suburban railway.
• Moreover, BKC is well-connected by road, including the Western and Eastern Express Highways, and is just a short distance away from the domestic and international airports.
• World-Class Social Infrastructure: BKC boasts top-notch social infrastructure, making it an ideal place to live.
• The area is home to leading international schools such as the Dhirubhai Ambani International School, Orchid's International, and the American School of Bombay, ensuring access to exceptional education. Residents also have access to renowned healthcare facilities, including hospitals like Shushrut Hospital and Universal Multispecialty.
• Additionally, BKC offers a wide range of recreational avenues, from luxury malls like Jio World Drive to diverse dining options serving cuisines from around the world. The presence of ample open spaces allows for activities like jogging, cycling, and picnicking.

In the midst of Redevelopment of Cooperative Housing Societies, there is a big challenge gripping the Mumbai Rental Market. The lease supply in the market is low and the prices have gone up on an average in each location. The most impacted belt in prices is the prime locations from Andheri to Worli where the options of smaller 1 and 2 BHK apartments are drying up.

Under the redevelopment agreement, the developer gives 2/3 years rent to the occupants along with the corpus funds and the apartment owners move out temporarily to other locations/buildings etc. The exodus here is not of few families but of the entire residents of the building. Think - if a building has 50 residents and its gone for redevelopment then all the 50 people need to go and find a home for themselves. Now each one to its own, either moves out to a different location, city as well but at least 60 - 80% stay in the same or in close proximity to the location they were in as their entire ecosytem is in the same location.

Owing to the redevelopment where the demand outstrips the supply, the lease market is alive with multiple queries and apartments are not staying vacant more than a few weeks.

So in case you are looking to rent then dont be under the misconception that you will have enough options available, sincere advise - what ever comes easiest within your budgets - close the deal, dont wait too much. Happy House Hunting.

Eternal Sunshine Production, the production house owned by Bollywood actor Alia Bhatt, has acquired a luxurious residential apartment in Mumbai's posh Pali Hill area for Rs 37.80 crore.

The apartment, located on the sixth floor of Aerial View building on Nargis Dutt Road, boasts a carpet area of around 2,500 sq ft and comes with two dedicated car parking slots.

The deal was registered on April 10 after being concluded on April 6. The stamp duty for the transaction, amounting to Rs 2.26 crore, was entirely paid by Alia. The apartment is one of the most expensive properties in Pali Hill area, with a transaction value of over Rs 1.51 lakh per sq ft.

Alia Bhatt also owns 2 flats in Juhu in the same building and the last deal of one of the flats was done in Juhu by Sandeep Sadh from Mumbai Property Exchange. The 2 flats are said to be now gifted to her sister Shaheen Bhatt.

Sandeep Sadh is of the view that the Pali Hill deal is a personal need based transaction to be in the same building as that is where the entire eco system is and both Alia and Ranbir are comfortable in their zone and they got married there. Most of the super premium transactions are happening in Mumbai in the range above 1.00 Lakh Per Sq.ft. Last month the Lodha Walkeshwar Transactions were in the news of reaching PSF rates above 1.40 Lacs and this transaction at 1.51 lakhs in Bandra affirms that there are buyers for super premium properties. Inspite of the Government imposing the Tax threshold of 10 Cr on Capital Gains reinvestment, the large transactions are not impacted as they are need based.

It can make sense to buy an under-construction property in Mumbai, but it also comes with certain risks and considerations that you should be aware of before making a decision.

One of the main advantages of buying an under-construction property is that it can often be more affordable than buying a completed property. This is because developers may offer discounts or other incentives to buyers who purchase early in the construction process. Additionally, you may be able to customize certain aspects of the property, such as finishes and fixtures, to your liking.

However, there are also some potential downsides to buying an under-construction property. The biggest risk is that the project may experience delays or other issues that can affect the timeline for completion. This can be particularly concerning in a city like Mumbai, where construction can be complicated by factors such as limited space and regulatory hurdles.

Another risk is that the final product may not match your expectations. This can be due to differences between the developer's plans and the finished product, or issues with the quality of construction.

Overall, if you are considering buying an under-construction property in Mumbai, it's important to do your due diligence and carefully consider the risks and benefits. You should research the developer's track record, as well as the regulatory environment in Mumbai, to assess the likelihood of delays or other issues. Additionally, you may want to work with a reputable real estate agent who can provide guidance and help you navigate the process.

Real Estate transactions in Mumbai are on the rise and another superb transaction by Prestige Estate/Group is the Shiv Shahi Society redevelopment at Dr.Annie Beasant Road, Worli. This project has been in the limbo for a while and a few years back there were talks with Oberoi Realty and now it seems Prestige Estates has got this 3.3 Acre Premium land. The USP of this land is that its located on Dr.Annie Besant Road, which is the heart of Worli and it will have Sea Facing Flats (From a Distant of Course) and the connectivity through Bandra Worli Sea Link and Coastal Road to South Mumbai will be superb. To an Estimate around 600 Crore rupees will be invested by Prestige Estates. Prestige Estates in the shortest span of time in Mumbai has acquired few projects and doing excellent sales. They have presence in Mulund, Bandra West, Byculla, Worli and Marine lines and their flagship project at BKC.

If you are looking to start a business or expand your existing one in Mumbai, Andheri West is one of the best places to set up your office. With its bustling commercial and residential areas, Andheri West is a hub of activity, making it an ideal location for your office. Here are some reasons why you should consider getting an office space for rent in Andheri West. The Prime areas in Andheri West for office spaces are Link Road, Veera Desai Road, S V Road and areas around Andheri Station. Both Andheri East and Andheri West stations are connected with 3 Metro Lines which give them superb and comfortable connectivity to Borivali East and West and Ghatkopar which is a sizeable area in Mumbai.

Strategic location:

Andheri West is strategically located in the western suburbs of Mumbai, making it easily accessible by road and rail. It is well-connected to other parts of the city, making it convenient for employees and clients to travel to and from the office.
A range of office spaces available: Andheri West offers a range of office spaces to suit different business needs, including shared workspaces, co-working spaces, private offices, virtual offices, and serviced offices. Whether you are a startup, small business, or a large corporation, you can find the right type of office space to fit your requirements and budget.

Wide range of amenities:

Most office spaces in Andheri West come equipped with a range of amenities such as high-speed internet, air conditioning, power backup, conference rooms, reception areas, parking facilities, and security. These amenities help create a comfortable and productive work environment for you and your team.

Work-life balance:

Andheri West is surrounded by several residential areas, shopping malls, restaurants, and other amenities, making it a great place to work and live. Your employees will have access to a range of amenities and entertainment options, which can help improve their work-life balance.

Supportive business ecosystem:

Andheri West has a thriving business ecosystem, with several industries and businesses operating in the area. This creates opportunities for networking, collaboration, and growth. You can tap into this ecosystem to build relationships, learn from others, and expand your business.

Flexibility:

Renting an office space in Andheri West offers flexibility, as you can choose the type of space and rental agreement that suits your business needs. You can opt for a short-term or long-term rental agreement, and you can upgrade or downgrade your space as your business grows or changes.

In conclusion, getting an office space for rent in Andheri West is an excellent option for businesses looking to establish themselves in Mumbai. With its strategic location, range of office spaces, amenities, supportive business ecosystem, and work-life balance, Andheri West offers the perfect environment for your business to thrive.

In Mumbai, a No Objection Certificate (NOC) from the Co-operative Housing Society (CHS) is required when a member wants to sell their flat or transfer their ownership rights to someone else. This requirement is mandated by the Maharashtra Co-operative Societies Act, 1960 and the model by-laws of the Co-operative Housing Societies in Maharashtra.

The NOC from the CHS is important because it verifies that the seller is a member of the society, and that they have cleared all dues and complied with all the rules and regulations of the society. It also ensures that the transfer of ownership does not result in any disputes or legal issues for the buyer in the future. Additionally, the NOC certifies that the seller has paid all the outstanding dues to the society, including maintenance charges, property taxes, water bills, and other charges.

The CHS can also withhold the NOC if the seller has any pending dues or has violated any rules and regulations of the society. In such cases, the CHS can recover the dues from the seller or take other legal action to ensure that the interests of the society are protected.

In summary, the NOC from the CHS is required to ensure that the sale or transfer of ownership of a flat is done in a legal and transparent manner, and that the interests of the society and its members are protected.

In Mumbai, a Leave and License Agreement is a common legal document used for renting out properties. The agreement is a legally binding contract between the owner of a property (the licensor) and the person who is renting the property (the licensee).
A Leave and License Agreement in Mumbai typically includes several important clauses and terms, such as the duration of the agreement, the amount of rent to be paid, the security deposit, the use of the property, and any restrictions or limitations on the licensee's use of the property. Some of the key terms that are commonly included in a Leave and License Agreement in Mumbai are:
    1.        
    2.        Duration of the Agreement: The agreement should clearly state the start and end date of the agreement. In Mumbai, it is common for Leave and License Agreements to be for a period of 11 months, and the maximum duration allowed by law is 60 Months. This is because agreements that are longer than 60 months are considered to be leases, and are subject to different legal requirements.
    3.        
    4.        
    5.        Rent: The agreement should specify the amount of rent to be paid by the licensee, as well as the due date for payment. In Mumbai, it is common for rent to be paid on a monthly basis, and the agreement should specify the consequences of late payment. Example a penalty of either per day or a penal interest.
    6.        
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    8.        Security Deposit: The agreement should specify the amount of the security deposit to be paid by the licensee, which is typically upto 6 months of rent. The agreement should also specify the conditions under which the security deposit will be refunded, such as when the licensee vacates the property and there is no damage to the property. The Deposit amount is a negotiable commercial term between the parties depending on the comfort between the parties.
  
  
    11.        Maintenance and Repairs: The agreement should specify who is responsible for maintaining and repairing the property, and what types of repairs are the responsibility of the licensee. In Mumbai, it is common for the licensor to be responsible for major repairs, while the licensee is responsible for minor repairs.
    12.        
    13.        
    14.        Termination and Renewal: The agreement should specify the conditions under which the agreement can be terminated, such as non-payment of rent or violation of the terms of the agreement. The agreement should also specify whether or not the agreement can be renewed, and under what conditions.
    15.        
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    17.        Restrictions and Limitations: The agreement should specify any restrictions or limitations on the use of the property, such as restrictions on the number of occupants, or restrictions on the use of certain areas of the property.
    18.        
In addition to these key terms, a Leave and License Agreement in Mumbai may also include clauses related to subletting, maintenance fees, and other details that are specific to the property being rented.
It is important for both the licensor and the licensee to carefully review and understand the terms of the Leave and License Agreement before signing it. If either party has any questions or concerns about the agreement, they should seek legal advice from a qualified attorney. By doing so, they can ensure that the rental arrangement is fair, legal, and beneficial for all parties involved.

Worli is in the New Hot Spot and the new city centre of Mumbai, with Morgan Stanley picking up another 86200 sq ft at the Altimus Towers, Worli which is going to be one of the Newest and most Premium Commercial Development for Head Quarters in Mumbai. On the other hand BKC is now being awarded the 2nd Central Business District of Mumbai by Mr.Eknath Shinde CM - Maharashtra.

If you are in Bandra and near Western Express Highway the time to reach BKC and to Worli New Commercial office building Altimus of K Raheja Corp off.Dr.Annie Beasant Road, is pretty similar through the Bandra Worli Sea Link and it is far more refreshing ride than going to BKC with the current traffic conditions in reaching into BKC.

Worli as a location with High End Commercial and Residential buildings is likely to command a better pricing and higher lease rent returns. The Altimus building is located off Dr.Annie Beasant Road and on the South, North and West side from higher floors it will get Sea View and South Mumbai and Worli - Prabhadevi side view and from the East side it will look into Mahendra Towers and Lodha Worli Towers - Trump Towers and Birla Niyaara side.

Morgan Stanley has already office spaces in Goregaon and the very fact that they have chosen Worli as a location speaks volumes about the fact, that this location is far preferred by the Top Management who already reside in Oberoi Three Sixty West, Raheja Artesia, Lodha World Towers, India Bulls Blu, Raheja Vivarea, Omkar 1973 and the entire South Mumbai.  In the past 5 years we have seen most of high ticket transactions by High Net Worth individuals in the Worli - Bandra who are who so who of the Indian Corporate and Heads of institutions.

K Raheja Altimus is one of the latest buildings by the renowned K Raheja Corp and with Morgan Stanley taking up nearly 86200 Sq.Ft will open up vistas for other MNCs to have their operations in South Mumbai and in a A Grade Development. The lease rent value transacted at Rs.325/- PSF introduces the base rate for this building and with 6 months deposit. K Raheja had acquired this land of 3 acres from Siemens and this entire building should be ready by Mid 2023.

Its interesting to see that, while BKC has been favored a lot by MNC’s - Worli which houses CJ House etc. is now going to be an alternate option for large corporates who do not need to be in BKC and yet be in one of the most plush addresses in South Mumbai. With coastal road coming from Nariman Point to Worli the distance for HNI’s residing at Walkeshwar and Cuffe Parade won’t be too much and knowing K Raheja and their efficient team, they will fill up this building in no Time.

In a short span of max around 18 months to 24 months, the Worli - Dr.Annie Beasant Road Metro Station will be ready which will be less than 5 min walk from which means superb connectivity for other office team mates who may be traveling from Suburbs or from Cuffe Parade.

Oberoi Realty has a large piece of land where the Worli TV Tower is and across the road the HBS stalled project is likely to be acquired by a leading developer so Worli - Dr.Annie Beasant Road neighborhood has lots in store.

So if you are looking to invest, buy, sell in Worli, then please be mindful of the infrastructure and prime real estate being developed.

Very often you will be passing through locations which are dotted with either Slums or old shops and bad infra and one day when you pass the entire scenario is changed by the fact that all the Slums are gone and all the old shops are gone and guess what is coming up, Malls, High End Retail and efficiently planned beautiful homes with in 5 min driving distance to Lokhandwala Complex, which is the heart of Andheri West.

Yes, Paradigm Anatalya - 101 Downtown Jogeshwari is launched on relief road in Andheri West, which connects Oshiwara to S V Road and with the new bridge Connecting to Highway, any one can reach from Western Express Highway to 102 Downtown Jogeshwari - Andheri West in less than 5 minutes.

The 10 acre land parcel where Paradigm Antalya - 101 Downtown is designed has Residential Towers with efficiently planned 1, 2 and 3 BHK or 2.5 BHK which are just not efficient planned but even priced. One of the highest sales are recorded in the shortest span of time in this project.

Prozone who are mall specialists and have multiple malls across the country are coming up with a Mall in 101 Downtown Jogeshwari and this will add to the value in the area, it will be a very similar feel to Infinity I or II located in both Andheri West and Malad West, giving the charm of located on the main road and the buildings behind.

Paradigm Anatalya as a project is ideal of self use or investment in a long term and starting from 81 Lakhs in Andheri West of carpet areas nearly 380 Sq.ft on an average is a fantastic run away from the rented house to your own house and yet has scope for capital appreciation.

For Booking and Preferred Allotments - Please Connect - Sandeep Sadh - 9820030685

Authorized Channel Sales Partner of Paradigm Realty.

MCHI CREDAI Homes Property Exhibition at BKC Grounds, Bandra East
 
MCHI CREDAI Property Exhibitions have been a ritual each year for home buyers and this year is the 30th edition of the MCHI CREDAI Expo which will be held from 13th October 2022 to 16th October 2022 giving a chance to Home Buyers and Business Visitors, Channel Partners and Real Estate Agents to come and meet their Developers, Understand the Projects etc.
 
The beauty about Property Exhibitions is that you get to meet a lot of New People, Sales Teams and of Course your Channel Partner colleagues etc.
 
This Exhibition is under the able leadership of Mr.Boman Irani, Mr.Dhaval Ajmera and Mr.Nikunj Sanghavi who are ensuring that the Buyers get the best possible options at the Property Exhibition and there for more than 100 Developers are participating and they will showcase more than 500 Projects in the Mumbai Metropolitan Region.
 
It’s also Diwali Time and the festive offers come in from Developers and a few to name are Zero Stamp Duty, Easy Payment Schemes, Home Loan as low as 6.9% with Selected Financial Institutions etc. A few developers are likely to roll out offers like winning a Kia Seltos Car, Gold Coins, AC and Modular Kitchens as an add on etc.
 
So all in all it’s a Good Time to visit the Exhibition at your convenience over a 4 day period.
 
The Top Participating Developers in the CREDAI MCHI Property Exhibition are Rustomjee, L&T Realty, Veena Developers, Ajmera Group, MICL, Paradigm Realty, Prestige Group, Dosti Group, Tridhaatu, K Raheja Realty, Nahar, Platinum Groups, Kanakia and many more with loads of offers.
 
The Exhibition this year is larger than life and it’s like the Big Boss of All Exhibitions with Celebrity Inaugurations lined up on all the 4 days, you have Master Classes, Motivational Speakers, Award Night for the best, Business Networking Meets and Channel Partner Panel Discussions to understand the real estate market in depth from who so who of real estate.
 
This Exhibition is going to set another record of sorts with the number of foot falls as post covid this is the 1st Exhibition by MCHI CREDAI and you must not miss this one.
 
Look forward to seeing you at the MCHI CREDAI Property Exhibition 2022.

Online Registrations on www.mchihomes.com

Jio Convention Centre to Host Mumbai’s Largest Property Expo 2022 – “HOMETHON” by NAREDCO Maharashtra

Exhibitions world over are held to educate the masses for understanding the offerings by the best in the Industry. For Mumbai in the next 1 week starting 30th September 2022 to 2nd October 2022 NAREDCO Maharashtra is hosting one of the Largest Property Expo 2022 – HOMETHON. As the name suggests it’s going to be one of the only kind of exhibition being hosted at the Jio Convention Centre at Bandra Kurla Complex, Bandra East, Mumbai.

What is so special about this Convention? This convention is happening after a long recess due to Covid to begin with and the Top Developers of Mumbai under the able leadership of Mr.Sandeep Runwal and Dr.Niranjan Hiranandani who are the stalwarts of the Mumbai’s Real Estate and have a vision for the residents of the City.

HOMETHON is going to be centred around the Home Buyer, to enable him to understand a lot about the ongoing projects of Top Developers beginning from Godrej Properties, Hiranandani Group, Prestige Runwal Group, Kanakia Group, Raunak Group, The Wadhwa Group, L&T Realty, K Raheja Corp, Piramal Realty, Nahar Group, MAN Infra, Shapoorji Realty, Birla Estate, Labdhi Lifestyles, SUGEE, Dynamix Group, Flora Developers, Zara Habitats, Y M Infra, Paradise Group, Bhumi World, Transcon, Crescent Group, Paradigm, Suraj Estate, Antariksha, VKG, Tata Realty, STG Realty, Chandak Group, PRESSCON, ARKADE, SIDDHA, Tata Realty, GHP Corp, Ground Holding, Pashmina, Atharva, Roha Realty, AP Realty, Paradigm, Sheth Creators, Vihang Group , HubTown, HomeXchange, Bharat Realty, VKG, Agarwal Group, Heritage Poddar Housing etc.. and many more who have participated in the Exhibition. Participating Developers - https://www.propi.in/homethon

For a Home Buyer it’s a win-win situation as within a few hours of being at the Expo, he or she can decide on their favourite project, meet the Sales Teams and take the Exhibition Special offers and Deals. NAREDCO has been extremely pro-consumer and they are ensuring that all the projects which are exhibited are RERA Registered and are of repute developers and the home buyers should be extremely comfortable to transact on spot. Ongoing Projects of Developers - https://www.propi.in/HomeThon-Project-Offers-Deals

The Venue being one of the best in the World adds to the Comfort of the Home Buyer and the Prop Tech driven convention centre has SBI, ICICI, HDFC, Central Bank of India, Indian Bank, Axis Bank, Bank of Maharashtra, Union Bank, Bank of India, Canara Bank, Tata Capital, Aditya Birla Capital, PNBHFL, LICHFL, Bajaj Housing Finance and Few More… as their lead Home Loan Partners. Home Buyers can avail the best possible rates on Spot along with the Corresponding properties.

Its like "Abhi Nahin to Kabhi Nahin" the whole Eco System of the Expo revolves around the Home Buyer and with 150 + Developers and around 1000 + Projects the choice which NAREDCO is bringing on the table makes it a compulsive event to be there.

Home Buyers in Mumbai are going to be spoilt for choice in this Expo 2022 as this Expo will cover the majority of the Top Developers in Mumbai and having to view their offerings under one gorgeous venue will be an additional incentive to surely visit the HOMETHON and you can register on www.homethon.com

The Expo starts at 10 AM and will continue till 8 PM in the evening and you have a FREE Entry and a FREE Car Parking at the Jio Convention Centre.


Propi.in is a CP Tech Partner and will assist Channel Partners with online Registration and information during the event.

There is a renewed interest in Buying a New Home in Mumbai. Projects by Godrej, Ajmera, Oberoi, Runwal, Hiranandani, Raheja Universal have shown immense interest from home buyers.

Before the end of 2022, both the Metro Lines from Dahisar East/West to Andheri East/West should commence and that will be a boon for travellers commuting between these locations. Its anticipated due to the heavy movement in these locations that a lot of commuters will go up on the Metro and the link road and the express highway may just get a little less congested. Even if the Metro take away 20-25% of the Commute load from the main roads the traffic congestions will ease.

Owing to the above, the demand fro real estate is likely to be be profound in the Western Suburbs to begin with. Central Mumbai infrastructure is also building up well and with the Trans Harbour link a lot of traffic going out of South Mumbai towards Lonavala - Pune etc will disappear from the Chembur - Ghatkopar belt and move towards Sewri and down to the otherside.

Commuting and infrastructure go hand in hand and so do real estate prices in Mumbai. Its advisable to take any property which is closer to Metro stations so that your connectivity in moving within the city is easy and not hampered by long travels.

Mumbai Property Market is seeing good traction in New Homes / Under Construction Projects Segment as the growing metropolis new generation plans to be in New Homes.

Our Honorable Prime Minister said in his speech on 15th August 2022, "that India has an Aspirational Society." which resonates with the trends in the real estate market in Mumbai.

Home Buyers in Mumbai have opted for Eastern Suburbs over the past few years purely for the reason of connectivity and better quality of life. Eastern Suburbs offers good green and clean land parcels and hence the development opportunities are much better for large projects. Runwal Bliss, Kanakia Future City etc are all on large properties having scope for larger open areas etc. All the projects developed by Ajmera, Hiranandani, Runwal, Kanakia, Adani, Sheth and L&T Group in the region are getting good traction, the plannings are efficient and the prices are conducive for the Home Buyers and hence the sales volumes are what they are.

The Sales volumes across these projects has been very good and as per Data Analysis done by Index Tap - CRE Matrix for the Eastern Suburbs market. The cumulative sales for the period from April 2022 to June 2022 has been approximately 1500 Cr which is pretty good considering the strong demand from Thane and Central Suburbs/Western Suburbs.

Ajmera Manhattan - Wadala - Sales - Rs.204 Cr

Hiranandani Highland - Powai - Sales - Rs.200 Cr

L&T Emerald Isle - Powai - Sales - Rs.182 Cr

Mars - Suncity Housing - Powai - Rs.143 Cr

Runwal - The Sanctuary - Rs.116 Cr

Kanakia Future City - Rs.111 Cr

Hiranandani Adonia - Rs.110 Cr

Runwal Bliss - Rs.100 Cr

Sheth Montana - Rs.99 Cr

Runwal Avenue - Rs.96 Cr

The Metro connectivity and the new bridges on the Eastern Express Highway are easing the traffic traveling towards the business hubs of BKC, Powai, Andheri East, Lower Parel and Kalina and going to South Mumbai via Eastern Free Way is simpler. By the time between 2024 and 2026 which is the time most of these projects will be completed the buyers will get tremendous advantage of connectivity as by then the Trans Harbour Sea Link, Coastal Roads, All Metros should be done in Mumbai City.

The Eastern Suburbs property market prices will surely gain some appreciation is the connectivity becomes better and better.

Special Thanks to entire Index Tap and CRE Matrix Team in Mumbai to share these most Important information and in their efforts to keep the Home Buyers and other stake holders like Mumbai's Channel Partners to be informed about the latest trends in the Mumbai Property Market

X BKC has been formally launched by Adani Realty Ltd at a Houseful meet of Channel Partners at Mumbai's newest venue Jio Convention Center at Bandra Kurla Complex, BKC. At an estimate more than 2400 Channel Partners were present at the meet who thoroughly enjoyed the presentation.

X BKC new launch comes with a Developer Subvention which gives an absolute peace of mind to Home Buyers with a 25% pay now and 75% on Possession by the Developer. The risk of the buyer is mitigated now as the project has come in with Adani Realty and HDFC Bank is funding the project at Mr.Hafeez Contractor is the architect. Mr.Hafeez Contractor is pretty bullish on the project construction and he and his team are at the helm of affairs and being the Chief Guest at the event, in his speech he gave a good confidence to the entire realtor fraternity to initiate discussions with their clients and they will be glad.

Interestingly, BKC has a only handful of residential complexes where there limited inventory available, most of the new launches in and around BKC are of a lower value and not as premium as X BKC, so there is no competition at all.

From a price perspective, just to give you comparison of Premium Property which has a direct impact of Demand and Supply - Goregaon East - Oberoi Esquire and Exquisite are selling around 5.50 to 6.60 Cr depending on the floor with 1080 to 1330 sq.ft carpet area. The next supply coming up there is the year 2026 so prices for ready to move in have gone up by at least 50% from 2019 till now.

With no other equivalent product in the market X BKC is likely to get good traction, the only direct inventory in competition here would be the ready to move in flats in Lodha Park - Marquise and Trump which are ready possession. X BKC is likely to now get ready in 18 months time and the construction work has been going at a great pace.

The 3 BHK efficiently planned flats - Carpet Area 1050 -1113 are launched at 6.49 Cr + GST 

The 3 BHK Luxe planned flats - Carpet Area - 1389 - 1453 are launched at 8.49 Cr + GST

The 4 BHK large flats - Carpet Area - 2080 - 2114 are launched at 12.69 Cr + GST

The STAMP Duty is completely waived for a limited period.

All you have to do is pay 25% and rest on possession which is brilliant in case you need to Sell any other asset of yours or you are looking to buy a property with Capital Gain etc.

Each apartment will come with car parking space.

In case you need more information about the project and do a site visit - Please call - Sandeep Sadh - 9820030685

Godrej Properties buys land in Carmichael Road

Godrej Properties is one of the most renowned and tursted name in the real estate market in India has acquired a land parcel in Carmichael Road from Karam Chand Thapar (KCT) Group through its real estate arm Indian City Properties Ltd (ICP).

Established in 1939, ICP is a boutique developer of ultra-premium commercial properties and has registered office in Kolkatta and Corporate Head Quarters in New Delhi. This property in Carmichael Road has been with the group for 70 odd years.

Carmichael Road is one of the most sought after Super Premium Real Estate Market in South Mumbai. Located off Peddar Road while coming from Worli Side once you turn left as soon as you climb up, you are in absolute peace and tranquil environment. Carmichael Residences by Peninsula Land was the last developed Brand New Building on that stretch. Carmichael Road has Buildings like Landmark, Usha Kiran, Normandie, Silvanroche, Pemino, Chitrakoot which are a few premium apartment buildings besides the Japanese Consulate and the BMC Commissioner Bunglow.

The rates in Carmichael Road can be as high as Rs.80000/- PSF to Rs.125,000/- PSF. The piece of land acquired by Godrej is just around half an acre yet the commercial value for the sale will be around 1200 Crores as envisaged by Godrej Properties. The Carmichael Road and Altamount Road is very very high profile market - Mr.Mukesh Ambani is right there with Antilia and Lodha Altamonte is a fully sold out building with super luxury apartments.

One of the last transactions reported in Lodha Altamonte by the Lodha Group registered on March 24, 2022 was for an area of 5010 Sq.Ft sold at 55.0 Cr making it an effective rate of Rs.109784 PSF. A transaction in Chitrakoot at the End of Carmichael Road was registered on December 14, 2021 of an area of 2050 sq.ft for 19 Cr giving an effective rate of of Rs.92,683 PSF.

Godrej Properties will be able to easily sell the inventory they make to the discerning buyers in the location as there is already a rate established in the location. This acquisition will strengthen the Godrej Properties luxury portfolio in South Mumbai.

It will be interesting to see if Godrej Properties makes Super Luxury apartments with larger floor plates or smaller 3 or 4 BHK apartments as the Demand for smaller unit is much higher and easier to sell in Carmichaeal Road as there is no major inventory on Sale in the neighboring buildings and with proximity to Worli, Lower Parel and Bandra and Airport its the most exclusive address with the superb connectivity to go further South towards Nariman Point or towards Bandra. With coastal road coming up in a few years a lot of traffic from the Peddar Road will disappear giving the location further impetus.

Unicorn a New Project by the Chandak Group located at Veera Desai Road with Premium A Grade offices has reported that they have sold 70% of their inventory from the time they have launched the project during Covid Times in June 2021.

Unicorn Andheri is Ground Plus 12 Strorey Commercial building with offices starting from 419 sq.ft of carpet area and going up to 1700 sq.ft. Each Floor plate is around 15700 sq.ft on a plot which is a Free Hold Land plot of around 1.33 Acres.

Commercial office spaces in Andheri West will gain a huge traction due to the upcoming Metro Connectivity from Dahisar West as the residential catchment areas between Andheri West and Dahisar West so far did not have the Metro Connectivity. After the Metro begin the approximate time from Dahisar West to Andheri West is likely to be not more than 40 Minutes and most of the offices on Andheri Link Road will be not more than 10 min walk to any metro station.

Unicorn Andheri West is located very close to the Apple Showroom also known as Unicorn and will have 13 Elevators and a Floor to Ceiling height of 12.1 Feet.

Unicorn Andheri is ideal for Investors who are looking for fixed income. The minimum investment required as on date to procure the smallest unit is aprpoximately 1.39 Cr + Stamp Duty and GST. The lease rental returns are expected to be upwards of Rs.175/- on the carpet area owing to the fact, that Andheri West does not have many new buildings with A grade inventory which Unicorn Andheri by Chandak Group is likely to fulfill the gap.

For Investments in Unicorn Chandak, please connect with Mr.Sandeep Sadh - 9820030685

Location
New Ambivali Co-operative Housing Society
https://goo.gl/maps/bSZs55fG6k7Jht6z7

Hbits to Invest 500 Crore in Fractional Ownership in India

Fractional Ownership is a New Asset Class which is growing leaps and bounds and for real estate investors in Mumbai, Pune, Bengaluru, the opportunities are galore.

HBits is one of the premier fractional ownership platform is looking to raise Rs.500 Crores through an Alternative Investment Fund to invest in Offices, Data Centres and Ware Housing projects where the returns are the highest for investors. Data Centres and Ware Housing spaces are usually located away from the city centre and since the real estate for them is customised to the needs like of the Data Centres or the Warehousing, the returns are higher the commitment is usually for a long term much in advance.

Hbits started operations in India in 2019 and they are currently managing assets of around 150 Crores. In Mumbai they are managing buildings like Ackruti Centre Point, Times Square, Der Deutsche Parkz who have tenants like Mane, IIFL, Smartworks, Persistent, ICICI Bank, Viaante, Auditime, ATPI, Ingenico Group etc.

Real Estate as an asset class is evolving in all respects, the Prop Tech approach with Data Science/Artificial Intelligence is creating newer vistas for either the property buyer, seller or the investor in the Indian Property Market and especially in Metros where there are A grade commercial properties and also A grade tenants. Commercial returns are much more than the conventional residential and with limited avenues for small real estate avid investors, investing in higher returns assets is a great opportunity.

For a New Investor, Fractional Ownership typically is a percentage ownership or an asset which is split between individual shareholders or a pool of investors who fund the purchase of the asset under a LLP or a Single Entity which holds the unit.

A single holding of a Unit/real estate or a property reduces the financial investment by a Single/Individual investor to own a Premium Property and all the Investors become shareholders and split the returns of the lease and cost of operations etc. The managing company takes a fee to manage the real estate.

Hbits approach to acquire assets which will perform the highest with easy exit to investors will be an ideal bet in the fractional ownership market in India.

Vedanta family buys flat in Raheja Legend, Worli

Worli has been in the news for the past few years and especially when it comes to high value transactions.

Worli is surely the New City Centre and with prime buildings and large apartments developed like Oberoi Three Sixty West, Raheja Artesia, Raheja Legend, Lodha World Towers Ciel, Rustomjee Crown, Trump Towers are the most desired apartments as the buildings are new and the Billionaires in India prefer now to stay in buildings which are new with like minded and similar profile families.  Most importantly most of the residents have bought properties at similar values so the profile remains more or less the same, be it the Top Industrialists, Bankers, Venture Capitalists or CEO or CMD of the Indian Corporate World and of the MNC’s in India.

These select buildings in Worli have limited options and only a few handful of large apartments with 3000 sq ft plus areas etc, which is the minimum required for any one looking for a large 3 or a 4 bedroom apartment.

Recently Birla Estates launched a new project named Birla Niyara there and the same did business upwards of 1500 Cr.

The apartment bought by the Vedanta family is in Raheja Legend which is located on Dr.Annie Beasant Road and commands a 360 Degree View since there is only 1 flat per floor. To the West is the Sea and Raheja Legend is one of the only buildings which is closest to the Sea as it touches the Dr.Annie Beasant Road and there are no other buildings obstructing view. Towards the East, the view of the entire Lodha Buildings and Rustomjee Crown and India Bulls Sky Forest etc and the eastern sea front.

The apartment bought by Mrs.Kiran Agarwal is on the 36th Floor admeasuring approximately 3000 Sq.ft Carpet at Rs.45 Cr. The Per Sq.ft Rate becomes close to 1.45 Lakhs Per Sq.ft.

From the year 2020 to 2022 a lot of High Value Transactions have been reported either by Celebrities or by Industrialist in Mumbai City and Worli has seen a majority of them in Raheja Artesia, Oberoi Three Sixty West, recently Mr.Ranveer Singh (Actor) bought a 4 level apartment in Bandra.

Its interesting to see how well maintained buildings with already High Profile families are attracting other families as well. Omkar 1973 which was touted the best building when it started construction has prices nearly @50000/- PSF, RNA Mirage is also at similar values.

Ranveer Singh a renowned bollywood actor and husband of Deepika Padukone has acquired a large 4 level quadriplex in a Redevelopment Building at Bandstand, Bandra West. The Building - Sagar Resham is a society which has gone for redevelopment with the developer L Nagpal from Khar West. Sagar Resham building was registered in 1964 and it was not in a good condition and hence redevelopment was essential.

Sagar Resham is located on Kane Road, off.Bandstand, Bandra West and very close to Mannat (Shahrukh Khan residence) and Taj Lands End. There are not many sea facing flats available of this size on Bandstand for Sale. Raheja Bay, Jivesh Terraces, Steesha, Raheja Sunkist, Vastu are a few top buildings of Bandstand where one can find large sized apartments but very few sellers.

The bandstand side of Bandra West although densely constructed is purely a residential area with limited retail or high street retail exposure and hence the location is far more premium compared to the Northern Side of Bandra and of course the proximity to Sea Link or BKC or Airport or going towards South Mumbai is pretty easy and convenient.

The apartment bought by Ranveer Singh is spread across 4 levels giving a 360 degree view of the Mahim Bay on the South East and having a panoramic sea facing views from 16th to 19th Floors. The apartment will have a carpet area of nearly 11200 plus approximately spread over 4 floors with a private terrace of around 1300 sq.ft. The price paid by Ranveer Singh for this property is around Rs.119 Cr. The ongoing property prices for premium sea facing properties is in the range of Rs.100,000/- PSF to Rs.125,000/- in most of the premium buildings in Bandra to South Mumbai. There are only select few buyers for such properties who have the budgets and need for such properties.

Its most likely that the building Sagar Resham which is a redevelopment building will have exclusive entrance to the resale portion and the division of entrances for the existing society members and the new home buyers.

Ajmera Realty which has prominent Projects in Wadala - Ajmera Treon, Eon and they recently launched Ajmera Manhattan which has scaled higher sales due to the fact that Wadala is emerging as an excellent location to reach Navi Mumbai via Trans Harbour Link in Sewri. Ajmera Realty is known for its quality products and Mr.Dhaval Ajmera is all excited on the Jump in the sales. Its interesting to See, the Lodha Group, Oberoi Realty are showing higher sales and inspite of the fact the interest rates have increased for the Home Buyer, the demand does not seem to diminish. We will have to await the q2 reports to further analyse the real estate market as June, July, August months due to Monsoons are considered lean seasons in Mumbai Property Market.

Oberoi Realty Ltd based in Goregaon East, Mumbai has done phenomenal sales and the number is above 750 Crores for the Q1 - 2023 which is nearly 4 times there Sales in the last year same quarter for their Under Construction or New Project Bookings.

Oberoi Realty sales come in from Oberoi Elysian, Esquire, Oberoi Sky City, Oberoi Enigma, Oberoi Eternia, Oberoi Three Sixty West and the much awaited Thane Project is yet to be launched. The Stock Price of Oberoi Realty Ltd on the BSE and NSE has increased from a low of 757 to a high of 803 on 8th June 2022. Oberoi Realty Share price had touched 998 in Early April 2021 and it has a high of 1033 in November 2021.

Oberoi Realty Ltd Sales are likely to continue higher due to the next few launches in Thane, Goregaon and Borivali.

The Mumbai based Lodha Group officially known as Macrotech Developers has reported pre-sales of around Rs.2800 Crores, these figures are for the 1st Quarter of FY 23 which is up by around 194% on Year on Year basis. The Lodha Group is the largest known developer in Mumbai and their delivery track record has improved tremendously over the past 3 years. The Lodha Group has projects in Worli, Wadala (New Cuffe Parade), Jogeshwari, Kandivali West, Malad West, Mahalaxmi, Thane, Palava  at Dombivili and Hinjewadi Pune. The South Mumbai projects being premium are all in ready to move in condition and the new launch of Mahalaxmi is open for EOI Bookings. Lodha Group has now eyes on Pune and Bengaluru which will be their foray into the South Indian market.

The Lodha Group has launched a New Tower - Lodha Adrina in its 17 Acre development which has become the most prominent real estate hub in Worli. Lodha Adrina offers a choice of 2bhk of 944 sq.ft, 2 bhk with Study around 967 Sq.ft (much needed in work from home or from kids perspective in joint families in India, an efficient size 3 BHK which is available from 1136, 1193, 1254, 1266 and 1334 Sq.ft to fit the needs of growing families.

Lodha Adrina is going to be a 60 Storey building with open views towards the Eastern Sea Board, Internal Views and City Views of the buzzing Worli - Lower Parel property market in Mumbai.

There are 7 Levels of car parkings planned and in a space starved South Mumbai, this is a sheer blessing as you get designated and safe and weather proof car parks.

The pricing here starts from around 5.19 cr with a fantastic payment plan where in you pay 30% Now, 20% in March 2023, 25% in March 2024 and the balance 25% on the receipt of Occupation Certificate. With this payment plan you can plan to sell your existing properties for a superb and brand new flat or upgrade from a 2 to 3 etc. In case you need larger flats of 4 or 5 bedrooms, you can join 2 flats and make a Jodi or Combination Flat.

There is a provision for Servants Room and Bath in Each apartment and the best part is that it comes with 0% Stamp Duty so you save on 6% right away on your investment.

Lodha Adrina Worli is a new launch by the Lodha Group, where in The Park, Allura, Marquis and Trump are already delivered. The rent value for a basic 2 bhk starts from 1.25 Lakhs onwards on lower floors and goes up to 2 Lakhs plus for 3 Bedrooms. The Lodha Park has the highest lease rent return and it will continue to grow.

Please connect with Sandeep Sadh on 9820030685 in case you need more information on the new launch. Mumbai Property Exchange Pvt Ltd is an Authroized Channel Partner to sell Lodha Adrina at Worli.

The Sunteck Beach Residences Project in Vasai was launched last week and its an excellent project from a long term perspective for families who have work in Western Suburbs and they want a Sea facing home with lots of modern amenities. Mumbai has had a few peripheral developments.

Hiranandani Panvel

Lodha Palava

Rustomjee Virar

Now New Lodha Project on Mumbai Nasik Road - 20 Min from Majiwada

All these projects started as green field projects with limited or no infrastructure around them and today they are all full of families as all these projects offer some thing or the other as a location, price point or a long term investment.

Sunteck Beach Residences Project is also a superb project with Bank Scheme of 10% payment now and 90%. This gives you that comfort of lower down payment now and a good chance of appreciation in coming years. During a fresh launch you can get inventory of your choice and we can assist you with booking the best options for you.

Carpet :-
2 BHK  604 carpet - starting price - 75 lakhs AV ++

2 BHK 635 carpet - starting price
- 81 lakhs AV ++

3 BHK 785 Carpet - starting price
- 95 lakhs AV ++

3 BHK 908 Carpet - starting price
- 1.09 Cr AV ++

30 storey building.
4 levels of podium car parking and 2 levels of basement parking.

Possession - December 2025

1 lakh sq.ft of Grand clubhouse - Biggest Club House of Mumbai.

5 star hotel

Seperate clubhouses near every tower.

Golf Amenities

High street retail of Big brands.

Location:- Sunteck West Office
Sunteck Beach Residences (SBR)
https://goo.gl/maps/NApCPwsHSc3fHgv49

Please call Sandeep Sadh - 9820030685 Preferred and Authorized Channel Partner for Sunteck Beach Residences at Suruchi Beach Vasai, Mumbai.

One Lodha Place is a New Land mark located in Worli next to Lodha World Towers, World Crest and World View and behind Lodha The Park.

This office space is one of the best office spaces in Lower Parel with the swankiest of lobbies, common areas and its a A Grade Building launched by the Lodha Group and now its ready for possession.

The office space starts from around 900 sq.ft and the offices are available for both Sale or Lease. This office is most suited for Companies, Corporates, Family offices for residents who are staying in South Mumbai and Worli.

For more details on the office space please connect on 9820030685.

Sunteck Realty has launched a new project in Vasai right next to Suruchi Beach. It is a land parcel of 50 acres. Sunteck is planning to launch many towers as well as private Villas overlooking the Arabian Sea. This beachfront project launched by Sunteck is the hottest new launch in the Vasai property market. It will attract a lot of investors as well as people who dream of owning their home in Vasai. It has a lot of potential for capital appreciation due to the location as well as the reputation of the developer.

The configurations of this new project by Sunteck at Vasai are 2BHK of around 650 sq. ft. , 3BHK of around 850 sq. ft. & Villas measuring 3000 sq. ft. They are modestly priced at around 85 lakhs for a 2BHK, 1.25cr for a 3bhk.

The USP of this new project at Vasai are the exclusive private Villas as well as the apartments overlooking the Suruchi Beach & Arabian sea. Sea facing apartments get better value as well as rental and are the hot sellers all around the world.

Sunteck Realty has delivered excellent projects earlier like the Signature Isle at BKC & have many more projects in the pipeline at Naigaon & Goregaon. Sunteck Realty Ltd is a listed company in the Stock exchange & is owned by a well known & reputed Mr Kamal Khetan.

With this new launch at Vasai, Sunteck Realty aims to encash revenues of 5000 cr + by developing 4.5mn+ sq. ft. in this prime Vasai market.

For further enquiries please contact Mr Pratham -9920017822.

Rustomjee Crown at Prabhadevi is a fast developing Tower by Rustomjee Group in the heart of Mumbai City.

Rustomjee Crown Tower C work is on a full stage and the 19 slab is casted. Its projected that the super structure of the building should be finished by December 2024. The A and B super structure is finished and now the finishing work from Ground to amenities and inside finishing work is going on at a war footing. 

Rustomjee Crown has good open views from all sides and from the higher floors you can see the entire city both towards the South and North and surely capturing the Western Sea Side and the Eastern Sea Views of Mazgaon docs etc.

The 3 and 4 bedroom large flats are ideal for large families looking to relocate to experience the next gen living with amenities which are bespoke made for quality living.

Mr.Boman Irani and Mr.Percy Choudhary led Rustomee Group has gone into IPO Mode. The IPO fever is in the market and a lot of mid size and large companies are planning IPO in the Indian Financial Markets. 

Rustomjee Group started from Dahisar in Mumbai and now under the leadership of Mr.Boman Irani is a very well established name in the Mumbai Property Market. Known for its quality, clear and transparent policies, excellent sales record and quality construction has made Rustomjee the top 5 developers of Mumbai City. To maintain this position the Rustomjee Group is now planning an IPO to raise around 1000 Cr which will be used to acquire land, complete projects and which will propel the group to another level. 

Years ago Oberoi Realty, Sunteck Realty went public and there stocks have given investor good returns. Its also beneficial for Home Buyers as the developers will have double regulation on their heads one being SEBI and another being RERA. 

Rustomjee currently has land banks in Thane and they are in the midst of finishing Rustomjee Paramount, Rustomjee Seasons at BKC, Rustomjee Crown which is in JV with DB Realty and Rustomjee Elements along with a few projects in Bandra East, Matunga and Thane.

The 30 years real estate experience has given the group the much needed expertise to launch a project and sell of and with extra funding now planned, the groups activity are poised to be stronger and fruitful.

In Mumbai, the Runwal Group is also planning to hit the bourses soon.

The Prestige group has launched a New Project at Mulund at Yogi Hills. The Prestige City - Bellanza is spread of 36 acres and the current launch is of Ground + 54 - 2 Towers offering 2, 2.5, and 3 BHK with areas starting from 758, 781, 900, 923 and 1040 sq.ft the price range starts from 1.59 cr onwards to 2.01 cr. Extremely good prices with a good time frame for payment to be made.

Located much ahead of Johnson & Johnson this land parcel was acquired earlier by Aristo Realty which could not launch the project for financial constraints. With Prestige Group now launching the project, the location is going to buzz.

The New launch by Prestige is a good one for future homes in Mulund as the quality of Construction and the Project has no match in the new launches in Mulund West. Runwal, Oberoi, Sheth, Piramal Realty have ongoing projects in the Mulund West region.

Going forward in next 3 to 4 years the much awaited Goregaon Mulund Link Road should begin which will make it extremely convenient for people in Western Suburbs to come down to the Eastern Suburbs in like 20 minutes. 

Prestige Group is known for its quality and having delivered millions of sq.ft there entry into the Mulund market will be of great importance to them and hence the need to be extremely competitive and quality driven.

For more on the Project launch and Stamp Duty and Superb offers - call - Sandeep Sadh 9820030685

Adani Realty has picked up an equity stake in Shiv Infra Vision which has got the rights to develop the entire RTO Land at Andheri West. The plot has an approximate potential of 11 Lakh sq.ft approximately. Looking at the location and the way Adani had built Adani Western Heights on JP Road, they may develop a Mixed use commercial, retail and residential project.

This plot was taken over by L&T from Chimankar's and due to the default of Chimankar's the allotment to them was cancelled and L&T was out of the game. Its a money spinner location for Commercial, Residential and Retail and this is one of the largest land banks in Andheri West on main link road.

The plot is located before Laxmi Industrial Estate if you are coming from DN Nagar. The Metro station will be 5 min walk from this project and Link Road Andheri West is already a Commercial and Retail thriving hub. World's best brands like Volvo, Apple Showroom, Citreon, Under Armour, Decalthon, Mercedes Benz, Audi are located already on the Andheri Link Road.

This project will have a direct impact on the real estate market of Lokhandwala Complex as families who dont want to come all the way inside the lokhandwala market side will prefer to relocate on the link road if the project planning suits them.

For more details call Sandeep Sadh - 9820030685

Prestige Group had a house full event attended by more than 2500 Channel Partners/Real Estate Agents from across Mumbai welcoming the Group to Mumbai at the Race Course in Mahalaxmi.

Mr.Irfan Razack the Chairman & Managing Director of the Group was present and his keynote speech had a simple message for the Real Estate Industry and its stake holders that the Prestige Group wants to do clean work and have stress free transactions and deliver the best quality projects in Mumbai.

His presence and his interaction with all the Channel Partner was much applauded and there is a need in Mumbai to have Companies like Prestige to come out and build quality properties.

Prestige Group has huge presence in Bangalore and most of their Residential Projects are in Luxury Segment and very well regarded in the Bangalore property market along with their 5 star Hotels and Commercial and Retail properties.

Prestige Group has launched a project in Mulund which was with Atithi Group earlier facing the Yogi Hills and is one of the most scenic locations in Mulund. They have also taken over the Daffodils society at Pali Hill, Bandra West and they are developing Jasdan Classic at Byculla.

Prestige Group has also tied up with DB Realty owned by Mr.Vinod Goenka and Mr.Shahid Balwa and they will be developing the tallest Liberty Commercial Towers overlooking the racecourse in Mumbai which will be one of the finest commercial properties in South Mumbai.

With the presence of Prestige Group now, Mumbai has the Top Most Developers in India. Prestige Group has completed more than 192 projects and they have more than 65 projects ongoing and they have around 34 upcoming projects thus making them one of the most active developers in the Country today.

Prestige Group is a listed company on BSE and NSE.

Space Starved Mumbai, Congested locations, densely populated locations with Buildings across, on the left, on the right and right across the bedroom is a common problem in Mumbai. The quest to find a home with a view, sea facing, lake facing or any open views towards a garden etc are preferred.

Bandra, Khar, Santacruz and Juhu have a peculiar problem as there are streets between every 2 buildings so there is literally no view to any one unless you are really high up or have a corner plot.

For people who desire to have open views are opting for High Rises where the plot size is at least large enough and the buildings are at a distant.

Lodha The Park, Imperial Towers, Imperial Edge, India Bulls Blu, Lodha World View, Lodha World Towers, Maker Tower A, Oberoi Three Sixty West, Raheja Vivarea, Omkar 1973, Raheja Artesia and Oberoi Sky Heights in Andheri West, Oberoi Exquisite and Esquire, Lodha Fiorenza and Oberoi Splendor offer some good views in Suburbs. Hiranandani Gardens Powai - Tivoli, Evita and Odyssey II offer good lake views from higher floors.

Buildings and apartments with open views or sea facing or lake facing or in general anything on lower floor with greenery are often considered to be premium apartments and command better rental value and of course a premium over there neighbors.

Gone are the days when people used to insist on heavy wood furniture for office, the new offices in BKC in One BKC, Capital, and other buildings across the city are seen to be very minimal with their paraphernalia of things. Glass Partitions, Simple straight line work, no false ceiling, basic carpeting is the way to go. With every thing getting into a Digital Mode, the need to have box files and tons of storage has gone down as we crawl towards a paper less era. The fitout costs also for the tenant or the Licensee in Mumbai in a leave and license agreement becomes less taxing. Mumbai city has different Central Business Districts starting from Nariman Point to Goregaon East and Malad West and with the next gen of businesses, start ups etc, the focus is on good quality and nicely looking office fit outs.

In a space starved Mumbai where a lot of plot sizes are small, the developers are becoming creative and utilizing the entire foot print of the building for roof top amenities, which becomes a break out area and surely appreciated. Rooftop Restaurants and Bars across the world are "to go to places" and the higher they are they give a grandeur view of the City, Sea or any other space for sure to look into the Horizon. In Mumbai currently the developers are exploiting the space very well with absolute safety for you, your family and your guests. Popular Examples of Rooftop Amenities and a complete eco system are Rustomjee Paramount, Rustomjee Elements, The Park at Andheri West, Aurus opposite Rustomjee Elements. A lot of new buildings are planned to keep the Terrace spaces in mind to be used by the residents and enjoy the cool sea breeze in Mumbai in the evenings.

Higher Interest rates (increased by .40 basis point) does not translate into much of hike, but yes it surely has a sentimental impact couple with Stamp Duty @6% to buy a Home in Mumbai is now pinching a bit in the Summer Heat. The real estate markets are surely here for good stability but the last week carnage in the stock market has hit the sentiment hard.  Clients asking for properties specially in the Under Construction domain are likely to take a little more time to take a decision viz a viz a home buyer who needs a home. The Premium segment in Mumbai surely has done well over the past few years, owing to good discounts and lower stamp duty till March 2021 but it will be interesting to see how the market pans out over the next few months. With monsoon on the heads, construction activity may slow down a little bit but the good part is that the Indian Economy is emerging far stronger than its other asian peers and more stable. So we may have a pause or the monsoon blues for a few months but the markets will come back with a bang yet again.

If you are out looking at New Homes, the first thing the sales team shows you of any developer is the show flat. The show flat gives you a glimpse of how you can design your future home (dream home) and live the life you desire. People get inspired looking at show flats, they get even motivated that they want to have a home like this. In India, the sense of having a beautiful home has awakened immensely and its a billion dollar market as real estate is a mother of all industries. The good part is that the new properties and the new sample flats are in sync with the market in terms of latest trends, interiors and the kind of materials which are available. A lot of the materials today are not expensive as it seems. For instance if you do a complete apartment from IKEA with Beds, Wardrobes and other soft furnishings etc, it may not cost you a big amount and yet look very very good.

Mumbai City is witnessing the next gen wanting to be in Good Quality offices in chic looking buildings. With co-working spaces pulling out all sops to woo in the new generation talent to work for corporate, companies, institutions, the theme now is to be in good quality buildings with Swanky modern offices. BKC, Lower Parel, Bandra West, Andheri Kurla Road, Andheri Link Road, Malad Mind Space, Goregaon East. We can see super structures with lights on in the middle of the night as Mumbai city never sleeps. So if you are looking for an office space then you must consider newer buildings for your staff to bring in better talent.

Metro connectivity will change the way people will travel and buy and sell real estate in the next few years. The ease of commute may prompt people to travel North of their current location in pursuit of better lifestyle and amenities and ease of commuting. Its anticipated that the Metro Line especially on the link road will make the commute of people easier from Dahisar to Andheri and this will boost Residential and Commercial segments. These locations being dominated with huge population which consists of Professionals, Traders, Industrialists, Film Industry will be tremendously benefited from the ease of connectivity.

Mumbai City is one of the first cities in Mumbai to have high rises and tall towers upto 70 Stories in India. The changing skyline across the city is now making a mark on the City Skyline specially in locations like Worli, Prabhadevi, Mahalaxmi, Tardeo, Goregaon East, Borivali and Thane now.

With more than 100 buildings gone for redevelopment in Bandra to Juhu location, this location is going to have a complete new look by the year 2025. In a recent forum at Naredco, Architect Hafeez Contractor raised an issue with the Government that they are not able to make beautiful buildings because of various regulations. The government has promised that they will look into this and if their is a proposal to make the city look better they will consider in the presence of Mr.Niranjan Hiranandani.

A country or a city can progress well only if the connectivity is good. By the Year 2025 Mumbai as a City should be the best in Asia as it will boast of Brand New Metro Connectivity, Coastal Roads connecting the City to Suburbs, Trans Harbour Link to Panvel, Multiple New Bridges and Roads.

Currently a City which is under construction will transform the way, people will travel, commute and the lifestyle will improve tremendously and the real estate growth will be in suburbs and the entire MMR region.

Naredco under the leadership of Mr.Sandeep Runwal had a power packed event with 4 most prominent Ministers from the State Government delivering their Key Note Address which was all in all in favour of the Industry and inviting.

The Naredco conference held at The Trident, Nariman Point was a well attended event with more than 600 Professionals from the Real Estate Industry.

All the sessions were power packed with Knowledge and for the first time the Government Ministers after a long time have come out in full support of the Development of the Sector and the City.

Home Buyers to get Interest in case of Delayed Possession

In a recent judgement pronounced by the NCDRC – The National Consumer Dispute Redressal Commission has allowed a Home Buyer Interest as compensation for the delayed period.

Any judgements favouring Home Buyers in a dis organized real estate market is good news. Typically, after paying the token amount the Home Buyers are dependent totally on the Developer to deliver and any time lines change for possession creates bad blood between the Buyer and the Developer.

Over the years, lots of regulations have changed in all respects be it legislative, technical or any other external factors, so developers are always fighting the change in the wind and hence sometimes the delays are inevitable.

Ajmera Realty to invest 900 cr in Wadala for their new project. Ajmera Realty has carved out a name for itself in the Mumbai Real Estate Market and has a very strong presence in Wadala where they have already developed and handed over Ajmera Iland – Ajmera Treon, Ion, and Zeon.

Ajmera Realty plans to further develop around 100-acre master layout which will offer 2 & 3 Bedroom apartments.

Wadala is a central location and within 10 min drive time to BKC, 20 Min to Colaba, 20 min in future to Ulwe in Navi Mumbai through the Trans Harbour Sea Link.

Oberoi Realty Ltd has been buying value properties over the years. Starting from Ciba land in Goregaon, Tata Steel land in Borivali etc all the land banks are hand picked with huge potential of wealth creation for the Company and the Home Buyers.

Oberoi Realty has entered Bhandup West market with a large 14371 sq.mtrs plot which was sold by the DRT - Debt Recovery Tribunal. This land was purchased at a price of Rs.115.54 Cr vs the ready reckoner value of Rs.119 Cr.

Oberoi Realty already has presence in Mulund West near Johnson and Johnson where they are developing Eternia and Enigma Towers.

This purchase is strategic to Oberoi who have been more dominant in Western Suburbs and Worli and this opens up another avenue for them in the Eastern Suburbs of Mumbai.

Going forward the Mulund Goregaon Link Road connectivity will play a big role in the prices of this project as all Oberoi Goregaon Projects are already in the range of 5 Cr plus.

Arihant Developers currently is in the process of acquiring new land parcels for a affordable housing projects in Mumbai and likely to double it portfolio to 20 million sq.ft in the upcoming 12-18 months, for affordable housing projects on an outright basics as well as joint ventures for middle income and higher income groups projects.

As per some news Arihant Developers have identified some land parcel in MMR (Mumbai Metropolitan Region) that are expected to provide them a growth push and internal supports for funds.

Mr.Boman Irani Chairman of Rustomjee Group and one of the most dynamic developers in the Country takes over as MCHI President from Mr.Deepak Gordia Chairman of Dosti Group.

Mr.Boman Irani has an eye on the Mumbai Property market and under his leadership we are anticipating a sea of change in Policies and many new initiatives for the betterment of the real estate industry in Mumbai.

Maharashtra Chamber of Housing Industry is one of the oldest Corporate Body for Developers in Maharashtra.

Maharashtra Government announces waiver of Property Taxes of not more than 500 sq.ft. The Shiv Sena and Congress Led government in Maharashtra has allowed complete waiver of property taxes of all residential apartments whose area does not exceed more than 500 sq.ft.

We are assuming that this 500 sq.ft will be carpet area as the current Government regulations stipulate most of the transactions on carpet area basis. Even if the same is on builtup area which will be mentioned in the agreement for sale, its still becomes a substantial saving for a Mumbai resident.

Property Taxes are typically payable every 6 months in each financial year. The Property Taxes in South Mumbai will be typically higher than an apartment in Borivali or Virar. So based on the location you are and the rateable value of the area, the property taxes will be calculated on those basis.

Birla Estates Worli has received RERA and Birla Estates has named the project as Niyaara. The project is receiving fantastic response.

There are likely to be 8 flats per floor in a large floor plate with around 12 elevators to service the residents. The 1st floor typically starts from Level 6 and Level 5 and 6 are likely to have amenities for the residents. The Birla Niyaara Phase 1 will have 75 floors and the upper floors above 65 are likely to be Duplex and Pent Houses which are going to have either North Views above Beaumonde in Prabhadevi looking into the Dadar Side Sea Cove and the South West views will have superb Worli Views passing through Lodha Park etc.

The launch is likely to open in early December and the booking amounts for 2 BHK will be around 5 lakhs and 3 BHK will be around 10 Lakhs.

The Birla Estates Worli New Project Niyaara is a good investment proposition for NRI and HNI's. The 5 to 6 year payment plans enable you to calibrate your real estate portfolio. For instance, sell an older property, purchase the New Birla Estate over a period of time and consolidate your portfolio.

In 2026 - 2027 by which we are anticipating the Towers will be ready although the RERA year will 2028, Niyara from Birla Estates will be the latest project then.

From the price points we are anticipating price bands from 4.75 Cr range for a 2 BHK and each year you can look at investing around 20% odd as your outflow.

Considering that this will be the Top End project in 2028 - This project will command the most premium pricing and a decent price appreciation. Today all Marquee buildings are in the range of 75000 to 100000 PSF in Worli - Prabhadevi and at the time of Possession we do anticipate a good appreciation.

Another core reason that we are very sure about this project is because its a project by the Birla Group and this will be sold off in no time and there will no inventory left out in a short term.

For Booking and more information. Please connect with us.

Sandeep Sadh - 9820030685

Hello,

Birla Estates New Launch of Worli Project Opposite Lodha Park & Kamla Mills

About Birla Group

Birla Estates which is a Realty Arm of the AV Birla Group’s Century Textiles will be launching premium flats of 2, 3 and 4 Bedroom Apartments at Worli opposite Lodha Park and Kamla Mills in a 20 Acres land which is owned by the Birla Group. The real estate arm of Century Textiles was launched in 2016 and since then the Company has developed Birla Aurora a 22 Storey tall building at Worli, Birla Centurion at Pandurang Budhkhar Marg, Worli, Birla Vanya at Kalyan.

Land Parcel at Worli – Birla Estate

The 20 Acre land parcel at prime Worli opposite Lodha Park is a clean land parcel in which the Birla Estates Group plans to develop lifestyle apartment which are likely to be ready by the year 2026/2027 approximately.

Proposed Launch

The proposed launch is likely to have 4 Towers to begin with and they may launch Tower 1 or 2 based on the approvals by RERA etc. The Birla Estate New Towers will have 2, 3 and 4 BHK lifestyle flats with state of the art interiors and latest construction technology. The Birla Estates as a Company wants to ensure the best quality and design in this project.

Payment Plan

The payment plan for this project is likely to be for 5 years since the proposed towers are likely to be between 70 and 75 floors .

Modern Amenities

The project will have modern amenities which are very well thought of by the management which cater to the needs of the residents who are effluent and desire a certain class and quality.

Why Invest or Buy in Birla Estates Worli Century Mills Under Construction Project?

This is one of the only projects which is offered by a Top Developer who is cash rich and has the ability to complete the project in time. The sizes of the apartments are likely to be starting from efficient 2 bedrooms (850-900) and 3 bedrooms (1100 -1200) sq.ft. There will be an option to join some apartments and make larger flats if need be. Most of the other offerings in the neighborhood are of larger configurations.

The views towards North is of Beaumonde Prabhadevi, South – Lodha Park and Kamla Mills. East is Rustomjee Crown and West is the Raheja Artesia etc. and the Oberoi 360 West (Towards North West). South West views will give you long views towards the coastal road at Haji Ali.

Very good and central location and with most of the premium buildings around the under construction project has good long term capital appreciation considering Worli is today the new city center.

If you are looking to Buy a Future Home in Worli – Long Term safe investment then this is the right project for you.

Mumbai Property Exchange Pvt Ltd is a registered and preferred Channel Partner with Birla Estates.

Please share with the following and we will reach out to discuss in detail about the upcoming launch:

Name                                             -

Mobile                                            -

Bedrooms  Interested in              -

(Example – 2, 3 or 4)

Please feel free to whats app me if you need some additional Details

https://api.whatsapp.com/send?phone=919820030685

Since, this is a 5 year payment plan you can plan your real estate portfolio accordingly by Selling any existing asset which is not giving you more than 2 to 3% rent yield etc. We help you Sell your current properties as well and plan your portfolio for best returns.

Look forward to hearing from you

Sandeep Sadh - 9820030685

Pooja Batra - 9819867813

A few days back way after mid night i was coming from South Mumbai and since the roads were empty i stepped on the pedal and i was in Worli from Chowpatty - Marine Drive in like 10 min and then to Bandra West via Worli Sea Link in another 5 min so it took me around 15 - 20 min max to reach Bandra West. It got me thinking that once the Coastal Road opens up i be able to drive through sea link into Worli and then the connecting coastal road should take another 10 - 15 min to Chowpatty or Marine Drive and then to Nariman Point in another 5 min so from BKC to Nariman Point Max 30 Min - Bandra West to Cuffe Parade - Similar - 30 min +

This connection will have a huge real estate impact in real estate and with distances shrinking between Suburbs and South Mumbai we will see a deep calibration of real estate prices.

For Mumbai City a lot is happening as far as the infrastructure is concerned and by the Year 2025 we are looking at a Brand New City with lots of new infrastructure to start with Metros connecting the entire city till Thane, Eastern and Western Suburbs connecting Metros, East West Metro - Andheri West to Kanjur marg via Powai, Trans Harbour link from Sewri to Navi Mumbai side which will further ease commuting easier out of Mumbai.

CRZ rules have changed further to augment development of older buildings across the coast of Mumbai beginning from South Mumbai to Western Suburbs, which opens prime real estate. The next 5 years are extremely crucial for the real estate market in Mumbai. Developers are also working on cutting edge technology to fasten the speed of construction and Mumbai surely has seen a good speed of construction in the past 1 year and a launch of several projects across the city which have seen brisk sales. Oberoi Elysian A and B Wing at Goregaon East have seen some awesome sales and the impact is seen on the Oberoi Realty share price, Godrej, Lodha, Kalpataru and a lot of top developers have seen some good sales both in Under Construction and Ready Possession segments.

Call it Post Pandemic impact with an underline tone of Home Buyers waiting or slew of new launches by Top Developers, lower premiums on fungible by BMC etc. The fact remains that Mumbai Real Estate Market has seen a bounce back. The average home buyer is back with an appetite for self use apartments which will be ready in 2022 - 2025 across all segments in Mumbai from South Mumbai to Western Suburbs, Thane, Dombivali and Navi Mumbai.

What is driving this?

It is just not one factor for sure, but surely we have seen the performance on Sensex impacts the liquidity and profits are poured back in the real estate to create an asset for the family.

New Launches in Mumbai of Premium Developers

To give you an Example - Oberoi Realty launched in Goregaon East - Oberoi Elysian A wing and this new launch in Goregaon in 2021 was done after 2011 - Nearly 10 years back when Oberoi Esquire was launched. So this 10 years gap filled in the void and the project saw tremendous sales volume as a result Oberoi Realty stocks hit around 7 % high on 1st November 2021. Similarly, all other developers been launching projects across the city.

After staying at Home during lock down/s the one thing every one has consciousness about is either they want Quality Living or Space. If they can afford it or even take a partial home loan to bridge gap they will still want it as the interest rates are all time low.

A lot of money in real estate is coming from real estate itself, so home buyers are calibrating, they are also selling their existing properties and upgrading. Both resale market and primary markets have seen enough sales across Super Premium and Affordable and Luxury segments.

The property market in Mumbai is likely to stay buoyant for the next few quarters as there is no New Supply coming up surely in the next 2 years of good quality developers. Bandra, Khar and Santacruz are witnessing redevelopments and more than 50 societies have been signed up in the past quarter for redevelopment.

Mumbai also seen coming of Prestige, Purvankara and Kolte Patil developers to add to the list of Top Developers in Mumbai.

Leasing market is growing and options in complexes (Gated Communities) like Oberoi Esquire, Exquisite, Emerald Isle, Oberoi Prisma, Splendor, Lodha Park, Rustomjee Seasons are running out. Rent market in these complexes have shown a surge of around 10 - 20% in rent.

Nariman Point in Mumbai is located in South Mumbai and between 1980 - 2010 it was considered to be the best Central Business District with Fort, Ballard Estate, Colaba, Churchgate and Cuffe Parade in its closest vicinity. This zone is dotted with Government Offices, Banks, Hotels, Corporates and Industry HeadQuarters like Tata Sons head quarters is in Fort. Besides this this area has Investment Bankers, Stock Brokers and India's Top Lawyers.

Come 2010 - BKC, Lower Parel and Worli came in with swanky new buildings with large floor plates etc. Nariman Point had only a few buildings like Express Towers, Nirmal etc where one could get larger floor areas. Rest of the Nariman Point mostly had 500 - 5000 sq.ft as maximum areas.

Come 2021 Nariman Point is getting back into shape with better carpet area efficiency - around 20% max from Built Up, Lower society outgoings its making sense from a long term property investment. With upcoming Metro which will be located in the heart of Nariman Point, the connectivity angle to any part of Mumbai is resolved. Going forward you may see price appreciation in Nariman Point so if you are looking for property investment do consider the old world.

For investments in Nariman Point, Mumbai - Call - Sandeep Sadh - 9820030685

Kotak bank launched very low home loan rate Offer Valid till 8 November 2021 to encash on the festive season in India. The benchmarking for eligibility now is your CIBIL Score or your Credit Score, the better the Score the lower the interest rate. Its a good opportunity for Salaried employees who are currently residing on rent and they may want to consider this as the delta between lease rent and home loan is now 4%. So with incremental 4% odd interest can translate into an asset creation. Mumbai Corporate leasing, Premium Properties in Mumbai are in vogue today and one can surely look at understanding the differential value and opting for a home loan at these competitive rates.

Cibil Greater than 800

Salaried - 6.50%

Cibil 751-800

Salaried - 6.60%

Cibil 700-750

Salaried - 6.80%
Cibil below 700

Salaried - 7.10%

Piramal Realty has been one of the best brands in the Mumbai Property Market in recent years. Headed by Mr.Anand Piramal the Company has launched projects in Thane, Mulund West, Byculla, Mahalaxmi either in Joint Venture or through their own lands which were part of the Piramal Group in Mumbai.

Mr.Rahul Dravid is now the Brand Ambassador for Piramal Realty. The ethos and belief of both Piramal Realty and Mr.Rahul Dravid resonate with each other with both giving their best shot in any thing they do. Piramal Realty developments of Pirmal Mahalaxmi, Piramal Vaikunth in Thane, Piramal Aranya in Byculla and Piramal Revanta in Mulund are by far the best projects in their own domains. There is a growing demand in the Mumbai property market for branded products and with a process driven approach. Piramal Realty is one of the most credible name in the Mumbai Property Market today and its philosophy of creating value runs in the family brand.

The Central Board of Direct Taxes (CBDT) has given extension till 31st December 2021 to file Income Tax returns.

Due to the issues on the website of the income tax lot of individuals have not been able to file their income tax returns and these glitches have resulted in a major loss to the exchequer in revenue generation.

The 31st December 2021 new date will be a respite for a lot of tax payers and with festive season coming up, they will have a sigh of relief.

The lease property market in Mumbai is gaining traction as Senior Executives from Corporates, Multinational Companies and Banks are getting transferred from various roles. Past 2 years have been stagnant from the corporate movement of Senior Management and now with things settling down, the relocation has begun. Mumbai usually high movement post June - July when new classes begin as a lot of individuals prefer to move out to new apartments in sync with the School Movement. Maximum traction in Mumbai till August 2021 was seen in Western Suburbs, Thane, Navi Mumbai and Worli - Prabhadevi belt. Most of the families moving in prefer to have flats which are done up well, semi furnished with kitchen cabinets, wardrobes, lights, fans and curtain rods. The mantra to lease the flats quickly is to have them total ready for occupation. People are looking to move into New Buildings compared to the older ones. As new developments come up for possession the traction increases in the building and its an upgrade for tenants from older buildings/apartments to newer flats for say a 20% to 30% increase in the last rent paid. A lot of families in Mumbai are preferring to lease their own apartments if they cant sell and buy with ease and financial burden so they prefer to lease and lease instead.

#mumbaipropertynews

Due to the Covid situation a lot of people are not able to travel to execute relevant property documents and home buyers or sellers in a lot of cases have to rely on giving Power of Attorney to sign the Agreements for buying and selling properties or leasing commercial or residential properties in Mumbai or India.

The POA is usually of 2 types - General Power of Attorney and Specific Power of Attorney

General Power of Attorney can be for long term and encapsulate right from filling your returns, operating bank accounts, signing writ petitions etc and they are valid until revoked. A Specific Power of Attorney is for a specific purpose which can be just signing or registering a Sale Deed/Agreement for Sale or a Leave and License agreement and the same is self relinquishing which means it expires after the purpose which is given for is done. For example after the execution of the sale deed where in the specific power is given to execute the agreement, the purpose of the Power is done. The specific POA can be also given to people to register any document while the signing can be done by the owners/purchaser/tenant etc.

Warburg Pincus backed logistics development platform is stepping up its investment in the industrial and warehousing space in the country, with a plan to have 18 million sq ft portfolio in the next three years. Indian Warehouse space has fast become the core of online retailers and WP firm is looking to also acquire 8 warehousing projects across major hubs and these transactions are expected to be concluded over the next one year.

Latest GR released by Urban Department, State of Maharashtra for rebate in property tax for providing Electrical Vehicle Charging point in Society. The state endeavors to make city free from Petroleum product driven vehicle latest by 31.03.2025 & replace with Electric Driven vehicles. Depending on Types of Electrical driven initiatives / status, 2% or 5% rebate will be given to entities namely Societies or Individuals on Property Taxes. Mumbai has a good number of population which commutes from office to home and back. This initiative by the Maharashtra Government will encourage Car Owners to switch to Electrical Vehicles.

Oberoi Esquire and Exquisite gain 10% price appreciation in 12 Months. The Sale transactions of 3 BHK with 1367 and 1371 as RERA Carpet Areas in Oberoi Esquire with 2 car parkings were recorded at around 4.25 to 4.55 Cr across different floors. The Transactions which are taking place for the same 3 BHK are now in the range between 4.75 to 5.25 Cr depending on the Floor and Views etc. Its been an interesting market in Oberoi Garden City, Western Express highway, Goregaon east, Mumbai near Westin Hotel. The lease rent market also strengthened from Rs.1.00 Lakh as an average rent to Rs.1.20 to 1.40 Lakhs. Both Oberoi Esquire and Exquisite are the most premium developments so far by Oberoi Realty Ltd which has now started developing Oberoi Elysian Tower A in the same location.

https://www.realestatemumbai.com/oberoi-esquire-goregaon-east-apartments-flats-on-rent-sale-lease_3739

Lodha Group has unveiled its Club Midas and residences by Mrs.Gauri Khan (Mr.Shahrukh Khan - Renowned Indian World Famous Actor' wife) who is also a renowned Interior Designer. The 3 bedroom apartments start from 7.2 Cr and the group has made a healthy payment plan for Ready to Move in apartments - Pay 25% now and 25% by October 2021 and take possession and start fitting out the raw shell flats as per your liking and pay the balance 50% by October 2022. This gives the buyers time to sell their existing assets and yet move into a Brand New luxury Towers in Worli, Mumbai.

Blackstone Group has another acquisition and this time it is the ASK Financial Services. ASK already has a portfolio of Wealth Management, Assets and Property Advisory, which will further augment the Blackstone presence in India.

BSE - Bombay Stock Exchange is making lot of millionaires and individual investors who are looking for new homes are finding it easy to buy a home due to regular equity returns. Home Loan EMI has come down in the range of 7% equity returns hover between 6 and 20% in mutual funds of sorts. So individual home buyers are trying to keep their portfolio of stocks intact and still buy a home by taking a home loan and leveraging capital gains from long term investment in stocks and getting tax benefits while paying EMI.

Most of the Real estate developers in Mumbai are now getting ready for their next investments as they have seen brisk sales between 2020 and 2021. Raymonds Realty is before time in its construction in Thane of their project and now is looking at more opportunities in the Mumbai Property Market. Raymond realty started their first project in Thane in 2019 and has been successful in its Sales so far.

Tata Realty has had a turn around in Sales and over the past 2 years due to low Stamp Duty and increased interest from Buyers for branded properties.  Tata Realty is likely to put in Rs.2000/- Cr as investment in the ongoing real estate business.

After the South Mumbai frenzy to buy Top Residential Homes, there is Bandra - Khar belt which is seeing high end transactions. Mr.Siddhart Shah Co-Founder PharmEasy has bought a duplex at Wadhwa Samarpan, located off Carter Road, in the private building of Mr.Vijay Wadhwa and Mr.Naveen Makhija Owners of the renowned Wadhwa Group known for its quality and premium constructions. The duplex flat is around 5445 sq.ft with 3 car parkings and the sale price is Rs.40 Cr.

Mckinsey & Co will start its operation early 2022 in the 1 North Avenue Tower of Maker Maxity, BKC. The office space of nearly 45000 sq.ft is spread across 4 floors. Maker Maxity is one of the most expensive real estate commercial buildings in India and located at Bandra Kurla Complex it has one of the finest companies as its occupants. The lease rate psf for the transaction is Rs.410/- PSF (Carpet Area) and 10 months deposit.

Abhishek Bachchan has sold his apartment at Oberoi Three Sixty West, Worli. He had purchased this apartment In November 2014 from Oberoi Realty for Rs 41.14 crore. The New Sale price of the flat is Rs 45.75 crore for an area of 7527 sq.ft with 4 car parking spaces. The rate PSF has come to around 60781/- PSF inclusive of car parking.

TDS on Rent Payments on Flats is to be deducted mandatory by the Tenants/Licensee under a leave and license agreement in Mumbai.

TDS on Rent Payment is quiet a recent thing and there are a lot of defaults seen in this Section due to ignorance by both the Owners and the Tenants.

TDS is to deducted by the Licensee who is renting an apartment/flat or a house by a Company @10% and by Individual Licensee should be 5% of the monthly rent amount if the rent is exceeding Rs.50000/- per month by Individuals who are not liable for Tax Audit.

In Mumbai most of the apartments in Bandra - Juhu - South Mumbai - Powai etc are above Rs.50000/- rent so its important that both the Owners and the Licensee (Tenants) understand this provision of law and there are no defaults on this.