CREDAI MCHI - Thane Unit

Monday, 22 June 2015

Should real estate be bought in a flash?

Buying a house, in a flash sale or otherwise, should be a well studied decision. Don’t go by offers alone

Flash sales have now come to a product that is usually bought after much planning—residential real estate. Online portal 99acres.com, along with digital marketing firm Amura Marketing Technologies Ltd, is organizing the Indian Realty Flash Sale (IRFS), from 26 June to 28 June.

Buyers will get discounts and offers on completed and under-construction projects by around 50 developers from across India that will be available. Interested buyers have to register at www.irfs.in (12-25 June). They can then see the details of various projects and also indicate their interest.

“The idea is to create an impulse in the real estate space, which is facing a mixed sentiment right now; there is uncertainty in the minds of customers,” said Narasimha Jayakumar, chief business officer, 99acres.com.

Though macroeconomic indicators have improved, the Reserve Bank of India has cut policy rates and the finance minister has urged banks to pass on the benefit to customers, the real estate space remains stagnant. Unsold inventory in six metro cities was 668,000 units (March 2015), according to realty consulting firm Liases Foras.

Read entire article on http://goo.gl/xaWG3z

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 Real Estate Prices in Mumbai Remain Sky High

Since it was first proposed on 24 February, the new development plan of the Municipal Corporation of Greater Mumbai (MCGM), which intends to provide a roadmap for urban development until 2034, has aroused much commentary, largely negative. This stemmed from factual errors in the development plan, along with concerns about the proposed increases in the floor space index (FSI). The FSI governs how large and tall a structure may be built on any given plot of land. Because of the controversy, the Maharashtra government has returned the draft development plan to the MCGM, and asked it to revise the plan.

A key question is whether the revised plan will drop the proposed large increase in FSI, which was the centrepiece of a lively closed-door discussion at the IDFC Institute, a Mumbai think tank, of which I am a fellow. It became evident from the meeting that vested interests—including the builder lobby and officials tied to the current regime—strongly opposed liberalizing FSI norms and supported the status quo.

What is the economics behind this?

In a nutshell, as lucidly explained in a research note for IDFC Institute by architect and urban planner Bimal Patel, FSI rules have remained largely static since they were originally framed in 1964, while the property market has burgeoned. The result is scarcity (or an excess of demand over supply). In other words, FSI rules which have not kept pace with growth in the market effectively constrain how tall builders can build.

As a matter of textbook economics, a government can create scarcity in a given market by one of two mechanisms—it can either fix a price that is artificially low, or, alternatively, it can fix a quantity (that is, a quota), which, again, is artificially low—by “artificially low” I mean a level of economic activity which would be below what would prevail in a competitive market without government intervention.

Read entire article on http://goo.gl/1EhGkS

Wednesday, 13 May 2015

These Mumbai localities are driving home buyers’ crazy

Magicbricks reveals Mumbai investor’s latest love in the city which has rocked all chartbusters!

The recently released PropIndex report (Jan-Mar 2015) lists down the preferred localities for outright purchase. Interestingly, this time three new localities made their debut in most preferred locality for buying properties. These are Ulwe at fifth position, Kandivali West at sixth position and Bandra West at ninth position.

Although it’s not the first time that Navi Mumbai has caught the eyeballs of home buyers but Ulwe’s realty story used to be heartbreaking until new government came in and Navi Mumbai Airport development sparked up the hopes again.

“Ulwe is back in action as the new government is adhered to follow the tight deadline of 2019. However, the ground reality is yet to change in the area but as investors are getting back in the market, stock is expected to move fast,” says Kaushik Shivram, one of the property dealers in Navi Mumbai

Talking about Kandivali West, property experts pointed out the qualitative projects that are coming in and the timely possession of existing projects. The sentiments are up in the areas as there is a spillover demand from Borivali as well.

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

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

Mumbaikars are finding ‘value-for-money’

Are you looking for a property in Mumbai within a modest budget range? Do you desire to shift only in a brand new home? If yes, you have to do just what other Mumbai buyers are doing.

As the builders are flocking to unlock the potential of Eastern suburbs, it seems even the buyers have realised what is the next big thing in the market. The fact is even supported by one of the research reports published by Cushman & Wakefield which clearly states that that the end-user demand remained the highest in Eastern suburbs due to the presence of good social and physical infrastructure.

It also indicated that 92 per cent of the total units launched in the first three months of 2015 were in this region only. “Majority of the project launches are between Kanjurmarg and Mulund where industrial land is being redeveloped for residential purpose,” says Irfan Alam, managing director, Trans India Realty Services.

What further worked for the region is it connectivity. “As Eastern Freeway became operational in 2014, the signal free rides to South Mumbai opened avenues of investment for small-term investors as well as builders,” adds Alam.

Read entire Article on http://goo.gl/Mkpkt5

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

Monday, 11 May 2015

Would you want to live in Mumbai's own Eiffel Tower?

Heard of theme based homes? Trendy homes are quick to catch buyers fancy. If you have the money to buy an Eiffel Tower in Aamchi Mumbai, developers are leaving no stone unturned to showcase their creativity. As per recent news, Bandra-Kurla Complex is getting its own Eiffel Tower. This 40-ft structure unveiled recently will artistically weave together a landscape designed by renowned architect, Olivier Vecchierini for a tasteful French experience.

In a statement recorded, Vecchierini says, “Based on the in-depth analysis of customers, we have created The Eiffel Tower to which the customers have reacted positively and the feedback is very good. Mumbai has a great deal of scope and opportunities in real estate sector. Customers prefer experimenting and are looking for innovative ideas”. True to the fact, most buyers are going in for the user experience after all Mumbai boasts the maximum number of ultra high net worth individuals.

Kishore Pate, secretary, CREDAI Maharashtra says, “Developers of residential projects in cities such as Mumbai and Pune are increasingly challenged by buyers' rapidly evolving tastes and preferences in luxury housing. A decade ago, luxury housing in these cities was mainly about larger spaces, fancy facades and amenities which were considered modern back then. Today, exposure to international concepts in luxury homes has changes the very perception of what really constitutes 'luxury'.”

Read entire Article on http://goo.gl/pKM5si

Mumbai’s 3 most luxurious rental addresses

Check out the most luxurious rental addresses in Mumbai even if you cannot afford to buy them. For many, buying might not be a feasible idea but renting sure is. Here is the list of top localities where luxury comes at a price tag that is not at all over-rated!

Malabar Hills

Malabar Hill has very countable options available on rent but what offered can actually make your eyes glitter. The greenery, spacious areas and the status attached to it, can cost you up to Rs 20 lakh per month. There are few apartments in the area where the monthly rental charge is even higher.

In fact, those who own a flat here also spend on monthly expenses almost equivalent to the rental value in terms of maintenance cost. Most of the residents are rich businessmen of international fame. Since the area has no scope of more development, the stock available now retains exclusivity tag.

Bandra West

Better known as ‘glam shell’, Bandra West is home to several Bollywood and TV actors. Moreover, its proximity to Bandra-Kurla Complex have brought the area in the list of most preferred localities for buying properties as well. Although, owning a property is not a easy but taking it ion rent can be possible if and only if your pockets are really deep.

As per the Magicbricks data, rental values here ranges up to Rs 15 lakh for a penthouse while a smaller home of 1BHK of 800 sq ft can be leased for Rs 70,000 per month whereas a bigger unit can cost you in lakh.

Read entire Article on http://goo.gl/rX77VF

85% consider wife, mother before buying home

A woman is the angel of the house and can you afford to disappoint that angel? Not at all, say 85 per cent of home buyers who took our survey (80% respondents are married). The topic of the survey was ‘Would you consider a woman’s opinion (spouse, sibling, mother) before buying a house?’ The maximum number of participants emphasised on the need for jointly made decisions when it comes to decisions that involve. But is that the only reason?

Priyanka Notaney, a sales executive with a leading Pune-based developer’s firm says, “Even if the man pays, woman is a bigger decision maker especially when the house is for end-use. If a man comes to look through the brochures and contemplate a purchase, most of the times, he does bring his wife along. Women are somehow able to conceptualise the interiors and the layout better.”

Sakshi Vasudeva, who works with IIM-Bangalore says, “Women are no more confined to homes. There is a lot of exposure- to people, lifestyles, the kind of choices available and the spend capacity is also keeping pace. Families are less rigid these days and realise that women can contribute to serious discussions as well. It is but natural that their decisions matter.”

Read entire Article on http://goo.gl/rVSY40