Real Estate Mumbai

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.