Premium up on incentive FSI for public parking lots

Builders of real estate projects in Mumbai, who are allowed to construct additional area for sale in exchange for creating public parking lots, will now have to shell out more, in line with the BJP-led government’s budgetary goal of monetising floor space index (FSI) to boost revenues.

The state urban development (UD) department issued orders on Monday stating that premium charged for use of the incentive FSI in such projects will go up. FSI determines the extent of construction allowed in the project. However, data obtained from the BMC shows that the seven-year-old policy, which grants additional construction rights to developers who agree to create public parking within their plots, has not translated into creation of ample parking spaces on the ground and has instead led to congestion in already dense localities.

Developers who construct public parking lots, in addition to captive parking for their own buyers, are allowed to construct an area equivalent to 50 per cent of the built-up area of the public parking lot as residential or commercial units in their project. For this, they have to pay a premium that is calculated at 40 per cent of the ready reckoner value of the incentive FSI minus the cost incurred by him on constructing the parking lot. According to the orders issued by UD department on Monday, the premium has now been increased to 60 per cent. This paper had reported last month that the proposed move was awaiting CM Devendra Fadnavis’s approval.

Read entire Article on http://goo.gl/4aPAMg

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   

Is it a good time to sell your property in Thane?

Economics suggests that property price rise happens when housing demand is more than its inventory. If this is to be followed, than this can be a good time to sell your property in Thane, provided the valuation is in between Rs 20-50 lakh.

Magicbricks quarterly research report - PropIndex of this quarter (Jan-Mar 2015) indicates that Thane is having a considerable demand of properties in range of Rs 20-50 lakh. However, the supply of residential units is running short in the area and has further decreased in past three months.

Increasing cost of construction and continuous demand of such properties has outstripped the supply in the area. Being the only affordable haven around Mumbai with developed infrastructure, the demand is tend to increase for properties priced below Rs 70 lakh in near future,”

Property experts are also of the view that 2BHK apartments are selling like hot cakes especially if they are priced below Rs 50 lakh. However, the options are very limited and those available are towards Beyond Thane region which is currently not fit for end-users.

Read entire Article on http://goo.gl/00JN0w

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  

Why Is Thane among India's Most Promising Cities?

India's growing cities are now at a stage where the Metros were few years ago. This is both a challenge and an opportunity for the city administration to ensure collective growth without repeating the mistakes made while developing Metros.
FIRST Smart Cities Council and Indicus Analytics have compiled a list of India's most promising cities and as expected, Thane has made the list. Thane featured in the top as it ticks all boxes in a promising city's checklist.

However, to get a first-hand account of the same, we caught up with the Mayekar's, who belong to Thane's rising middle-class and have family member's that cover major age groups. They welcomed us for a Sunday brunch at their apartment at Ghodbunder Road and shared with us their thoughts on why Thane is among India's most promising cities.
Dattaram Mayekar moved to the city 50 years back and since then, he has grown with the city. He is ageing but is proud that Thane is getting younger by the day. His two sons are happily married and stay with him. Sunil, the elder son works as a bank manager whereas his wife, Sunanda is a home manager. Their children, Suyash and Twinkle keep the family vibrant and are heavily pampered by their newlywed uncle, Mangesh and his wife Swati, who are both young IT professionals.

Read entire Article on http://goo.gl/Sf6zL0

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 

Here’s why Mumbai realty is promising

Mumbai, also known as the financial hub of India has one of the most expensive real estate markets. Despite this, it still bags the top spot in the list of preferred cities for buying properties.

As Magicbricks is soon going to unveil the upcoming edition of PropIndex (India Apartment Index) for Jan-Mar 2015 quarter, it clearly indicates how different aspects of Mumbai realty are showing positive signs turn by turn.

The city noted a rise in property prices in over 60 localities and witnessed maximum cost increase up to 7 per cent in just three months. Trend watchers opine that Mumbai realty looks promising in 2015. 
Some quoted reasons are the rise in absorption of commercial spaces and the number of infrastructural development which is lined up in the near future.

Read entire Article on  http://goo.gl/8ALVTs

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

Home Loan Terminology

If you are planning to get a home loan, the EMI or the equated monthly installments will be your main consideration. EMI is the sum of money that you as a borrower will pay your lender to clear your outstanding loan. These payments are made every month on a date that is stipulated by your bank till such time that the loan has been completely repaid. The three things that go into the calculation of an EMI are:

1) The amount of the loan
2) The rate of interest
3) The tenure of loan

The most popular method of computation is that of ‘monthly reducing loans’. In the monthly reducing cycle, the principal is reduced with every EMI and the interest is calculated on the balance outstanding. The majority of the retails such as Home loans, auto loans and personal loans are computed on a monthly reducing basis.

Read entire Article on http://goo.gl/TB61Jl

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

4 lakh houses needed by 2034 but prices may not fall

The draft Development Plan (DP) 2034 expects the city's population to grow by 16 lakh over the next two decades, and a requirement for four lakh homes to accommodate the increase. But even those who have prepared the DP document say there will be no space left for affordable homes as real estate prices are expected to remain high. Politicians, cutting across party lines, have come down heavily on the housing scenario. 
"High premium is charged over FSI. Flats that will be constructed after premium is paid will not be affordable. There is no scope for affordable housing in the draft DP and it will be difficult for the salaried common man to buy a place in the city," said Yashodhar Phanse, Shiv Sena corporator and BMC standing committee chairman. 

DP planners have projected a population of approximately 1.4 crore by 2034. Assuming that four of a family live under a roof, they have calculated four lakh houses will be needed for them.


Read entire Article on http://goo.gl/H7LXxB


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

Top tricks to enhance your property value

The lull in the real estate market is making buying and selling properties tougher! However, the issue would not prevail much longer. Why?

If you are all set to list your property in the real estate market with a sale board, hiring a broker is simply not enough. Today, it is also about how the buyer feels about the new home. “I think, I need to redo the kitchen!” or “Oh God! The bedroom is just not what I wanted!”…. are some of the common thoughts which pops in the mind when a prospective buyer goes for a site visit.


Read entire Article on http://goo.gl/zCSQYx


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