CREDAI MCHI - Thane Unit: June 2015

Monday 29 June 2015

Home Buyers Rush to Lodha Developers' IPO Style Pre-launch in Prime Central Thane

Lodha Developers, the largest real estate developer in the country, has opened bookings for the pre-launch of its latest development - a world-class neighbourhood spread over 88 acres in Prime Central Thane. Over 1,500 applications were received on Day 1 of the IPO-style application process , which is a new innovation in real estate, building upon the process commonly used in the equity markets. The 'issue' was pre-launched simultaneously across the globe including India, New York, Singapore and Hong Kong. The issue presents a unique opportunity for investors and end-users all over India and the world to buy high quality real estate in Mumbai Metropolitan Region at attractive values.

The customer application window opened on 27th June and completed applications will be accepted until 5th July. Lodha Developers has planned a self-contained development of smart sized 1 and 2 bedroom residences in 28+ storied elegant towers. Besides the lucrative location, key highlights of the masterplan include, 80% open spaces, world-class landscaping and prices that start at Rs. 55 lakhs only. The most unique aspect about the project is that it caters to a large untapped market of mid-segment luxury home buyers, who are looking for the right product, location and price point especially within this region. The location has gained popularity in the recent times for multiple reasons, especially its scenic beauty, better social and hard infrastructure.

Read entire article on http://goo.gl/nG2v7r

About us

MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.

Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India

Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com

Saturday 27 June 2015

How Monsoon can help you in renting, buying

There is something alluring about the monsoon season which appeases almost everyone. However, when it comes to Mumbai’s real estate, monsoons have a reverse effect to the existing houses, as here torrential rains put a stop to the daily activities of the city residents. Still, interestingly, this season may prove to be beneficial for the buyers, in certain ways. Know how -

Bargain for lower rates

For many developers, it is a lean season in terms of sales. Incessant rains stop buyers from making a purchase. “People wait till festivals to initiate any property transaction, which leads to piling up of residential inventory. Thus, developers facing liquidity crunch, come up with monsoons discounts as a part of their marketing campaign to attract buyers,” says Gaurav Arora, a local real estate consultant

Expert also say that, majority of developers are ready to offer property at lower rates to serious buyers. It is the same for tenants looking for rented accommodations. “In Mumbai, one can easily negotiate by 10-25 per cent on the sale or rental values during the monsoon season,” says Arora.

You can settle for a big house

Since many developers are ready to negotiate on the property price, this can be an opportunity to buy a larger space. Arora says, “The property prices in Mumbai are very high, and buying a property is a big deal for a middle-class man.”

Read entire article on http://goo.gl/pexoQn

BKC is 15th most costly office market in world

Bandra-Kurla Complex (BKC) has been ranked the 15th most expensive prime office market in the world (US $102 or over Rs6,400). Nariman Point was ranked 30th ($76 or Rs4,900) on the top 50 ranking. Both are up one notch from last year's rankings. The finds are part of CBRE Research's semi-annual Global Prime Office Occupancy Costs survey released on Thursday.

At nearly US$157 per sq ft per annum (Rs10,000), Delhi's Central Business District (CBD) of Connaught Place was ranked the fifth most expensive.

London's West End remained the world's costliest prime office market, while Asia continued to dominate the world's most expensive office locations, accounting for four of the top five markets.

Read entire article on http://goo.gl/WMlb1K

About us

MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.

Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India

Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com

Wednesday 24 June 2015

Why rent? Own a flat in Rs 25,000 monthly

Tired of spending a huge chunk of your salary on the rent in Mumbai? Don’t pay! You can own a home in the city and around within the monthly installment of Rs 25,000- 35,000.

Magicbricks data shows that there are over 3000 properties available in parts of Mumbai, which can cost between Rs 25-30 lakh. When you calculate the EMI of your home loan, it would be at par to the rent you are currently paying. However, there are options availalbe in Rs 10-20 lakh as well, which one may consider.

"Staying on rent in Mumbai certainly means spending a huge chunk of salary component on it. The first-time home buyer profile consists of people in their first or second job, earning between Rs 25,000-40,000 monthly.” says Rajeev Sinha, a local of Kalyan and a partner in Sindh real estate, a brokerage firm.

“They hesitate investing in real estate of Mumbai thinking that there would be nothing available in their budget. However, there are few localities in Mumbai still offers property within Rs 25-30 lakh,” he adds.

Read entire article on http://goo.gl/5yF4zJ

Property prices in Mumbai could rise 6% in 2015: JLL

Property prices in Mumbai are expected to see an appreciation of 6% in 2015, according to property advisory firm JLL India.

"Many home buyers as well as investors have been speculating about the movement of residential property prices in Mumbai. These fence-sitters are watching the market's movements keenly. Their guess is that prices could go down further in the next few months - which in turn has increased their hopes of landing a better deal for their money and delaying their purchase," said Ramesh Nair, COO - operations and international director, JLL India.

"However, the market's readings indicate that that it will start moving up later this year. An average price appreciation of around 6% is expected by the end of Q4 2015," he added. He expects Mumbai's residential property market to start seeing "lot of buying activity in around six months, with buyers taking advantage of prevailing market conditions to get good deals. The increased market activity is expected to continue next year too."

Nair said that builders are already seeing the number of enquiries rise and expect the market to recover in the months ahead. However, it is still a buyers' market with builders offering discounts, freebies, waivers, festive offers and attractive schemes to increase sales velocity.

Read entire article on http://goo.gl/4xDeIm

Tuesday 23 June 2015

Maharashtra government to launch rental housing scheme with better norms

Maharashtra is planning to relaunch its ambitious rental housing scheme in Mumbai Metropolitan Region, hoping to succeed with more liberal norms as previous efforts failed to draw much response from private developers.

The Floor Space Index (FSI) for projects under public-private partnership will be between 3 and 4 this time, up from 3 earlier, officials of Mumbai Metropolitan Regional Development Authority said. For additional FSI above this, the developer will have to pay about 60% of ready reckoner rate as premium. FSI refers to the ratio of a building's total floor area to the size of the piece of land on which it is built. "The state government has proposed the move in its draft housing policy and unlike last time there will be no restriction on the size of the houses to be built under the rental housing scheme," said an MMRDA official.

Mumbai Metropolitan Region includes Mumbai, Navi Mumbai and Thane. Based on the Maharashtra State Housing Policy of 2007, the rental housing scheme was initially introduced by the state government in 2009 to allow participation of private sector developers and aimed at reducing the slum clusters. A few developers also received sanctions for their projects under this scheme in extended suburbs such as Virar, Thane and Karjat.

Read entire article on http://goo.gl/VxXDOF

Maharashtra IT policy offers firms tax, real estate benefits

The policy aims to attract Rs.50,000 crore of investment and create 1 million jobs in five years

Maharashtra, which ranks second in the country for exports of information technology (IT) and IT-enabled services, came out with a policy aimed at making the state an animation and gaming industry hub, attracting Rs.50,000 crore of investment and creating 1 million jobs in five years.

The policy, which offers many sops to the IT industry, was cleared by the state cabinet during its weekly meeting on Tuesday.

According to the policy document, Maharashtra’s last two IT policies—in 2003 and 2009—helped the state attract investment of Rs.3.24 trillion and create 748,000 direct jobs and 465 private and 37 public IT parks.

The new policy offers 200% additional floor space index (FSI) over the base FSI for IT parks. The FSI indicates permissible construction on any plot. By offering a higher FSI, the state government hopes rents in the IT parks will drop.

The policy also tries to promote a walk-to-work concept; it proposes the construction of integrated IT townships that will also offer residential apartments, social infrastructure such as schools, hospitals, malls, multiplexes and parks, among other things.

Read entire article on http://goo.gl/BM21SQ