CREDAI MCHI - Thane Unit

Monday, 20 July 2015

Cities having Rs 50 crore fund to be a 'Smart City'

The cities which have the capacity to raise an initial fund of Rs 50 crore and additionally spend Rs 200 crore annually for next five years, will be selected for the 'Smart City' project.

The Maharashtra government will recommend a proposal of 10 potential smart cities to the Centre by July end. "The primary condition for being selected for the Smart City project is the local civic body should be capable to raise its own fund to the tune of Rs 50 crore for next five years and can spend Rs 200 crore every year for next five years," an official in the state Urban Development Department (UDD) said.

Financial capability and planning on how to implement the scheme will be the main criteria for shortlisting the cities, he said. "The urban local bodies will have to compete on the basis of scores and marks given for the implementation of the Swachh Bharat Mission (total score 10), online grievance redressal system (score 5), collection of internally generated revenue such as taxes, fees, etc (score 10)," he said.

The municipal councils and corporations will have to submit their visions of smart cities and their scoring criteria before July 10 to UDD, he said. "Later, we will shortlist the ten cities," he added. The state government issued instructions to 26,municipal corporations and 18 municipal councils on Wednesday based on the guidelines issued by the Centre.

Read entire article on http://goo.gl/nP399i

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

Where to own a flat in Mumbai in Rs 35000 EMI

With rental values moving upwards in main localities of Mumbai as well as Navi Mumbai and Thane, a modern day home seeker is paying rent which will be equivalent to monthly EMIs. With lending rates decreasing buyers are more open for real estate investment. This is evident from queries received on Open House, the discussion forum on Magicbricks. Some of these queries are: -

“I want to buy a property having an installment of Rs 35k near Mumbai, either in Vashi or Navi Mumbai,” asks Kishore Awasthy, one of the local businessmen based in Mumbai

“Can I get a 2-3 BHK flat in Mumbai (Mira Road) with an EMI of Rs 35,000-40,000 with 80 per cent loan,” asks Tushee Shah, a software engineer.

Before looking for properties that are affordable for a monthly EMI of Rs 35,000, here are some basics you need to understand-

How is EMI calculated?

EMI or Equated Monthly Installment is a component which consists of both the interest & the principal amount. It is calculated on the following parameters:

- Loan amount

- Tenure of loan

- Interest rate

You can reduce your EMIs by increasing the loan tenure. However, this will result in increment in the interest amount to be paid to the bank and liability for a longer duration.

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

Make the most of a buyers’ market

Trishla and Varun Jaiswal settled in Mumbai for the last three years are now considering on purchasing a property. However, they have a dilemma. Jaiswals are unsure whether or not it is the right time to buy. They are looking for good deals which come across just once in a while.

The Mumbai real estate market offers you some of the best deals! Now you can book a house at just Rs 5,200, or you may be lucky to get Rs 200-500 off on the per sq ft value. Also available are attractive construction linked plans, which are up to Rs 30,000 off on booking and discounts to the tune of Rs 2.5 lakh is up for grabs. Eyeing gold? Well, the property could be your gateway to gold as well with developers offering gold coins as gifts! Now imagine if you could get stamp duty, registration charges, service taxes and VAT completely waived! Yes, it is possible in Mumbai and other places as well.

Heard of Great Online Home Festival (GOHF)? It will kick start tomorrow bringing great deals and discounts in the Indian property market. Be the first to scan through to make benefit from the home festival.

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

1 cr homes big hit online

Mumbai resident Madhumita Mondal got the real estate bug earlier this year and decided to buy an apartment. She did it online.

Using the e-commerce site Snapdeal.com, Mondal spent Rs 1.1 crore for a three-bedroom apartment in a condominium being built on the outskirts of Mumbai. Usually Mondal buys dresses and books on Snapdeal, but after seeing an advertisement there for apartments, she found buying online saved time and money.

“The experience has been way better than going through property agencies in the off-line space,” said Mondal, who with her fellow civil servant husband expects to take occupancy by the end of next year. “There was absolute clarity on architectural plans and property details, and I did trust the developer and e-commerce platform.”

While it may be hard to imagine spending millions of rupees online, thousands of Indians are doing it. Internet sales of property are taking off, as developers find it helps get rid of excess supply and as consumers find ease of use coupled with discounts. In the past few weeks, Tata Housing Development Co and Mantri Developers Ltd each sold apartments worth almost Rs 6.3 crore on Snapdeal, one of several sites including 99acres.com and Housing.com that have been selling property online for the past year. Tata Housing alone reports more than 1,500 apartments sold online.

Read entire article on http://goo.gl/zCcu76

Thursday, 16 July 2015

How a retired clerk bought a 3BHK flat

Every house has a story to tell. Every buyer is an integral part of that story. Vinod Gupta recently retired from one of the biggest airlines company of India after 35 years of stellar service. On retiring, he received Rs 8 lakh as a part of his gratuity and provident fund. Though a native of Delhi, he used the money to purchase a house outside the city.

“I lived in an ancestral property in Old Delhi. I have five brothers who live in other cities and rarely used to visit me. I naturally didn’t have a sole right on the property. Being the youngest, I decided to divide the property and use my share of money to invest elsewhere. I was also tired of living in a congested city in a locality which has more commercial feel rather than residential one. Most of our neighbours have moved out of the locality to the city’s NCR nodes. Better lifestyle was the prime reason behind the move. I remained here, as I couldn’t afford one.”

A few years ago, Gupta married off his daughter. The lump sum money received on retiring and the money which he along with his brothers received by selling the ancestral home was used to invest elsewhere.

The ancestral property was sold off for Rs 4 crore. Out of which he got his 50 per cent share as he was the one paying property taxes and justified his part to be a major one as he also got the property vacated from tenants through legal process, which cost him over 6 lakh including lawyers’ fees, etc.

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

Where can you negotiate up to 30% in Mumbai

You might be familiar with movies like The Poltergeist, 13B, The Conjuring, 1920- All of these have one more common aspect, other than horror. These are the stories of homes that are cursed or possessed by spirits or unwanted energy. Not just in movies, these homes have a real life connection too. The properties that are close to cemetery, cremation ground and even prisons are often not preferred as these too have ‘scary’ notions related to it.

Magicbricks’ Open House Forum received a few queries where buyers are confused about the future prospect of one such property –

“I am planning to buy a 1BHK flat in sector 10 Kharghar, near the cremation ground. Is it good for investment purpose?” asks Supriya from Navi Mumbai.

More such queries are received which show that buyers are more concerned about price appreciation rather than philosophies related to it.

The state government's has recently decided to relax the norms of redevelopment of buildings located around prisons. Earlier, the state government had prohibited construction within 500 meters of the jail, which is now expected to be reduced to 150 meters. This move is expected to create more options around prison and the prospective buyers too seem to be happy about it.

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