Projects in Mumbai

News Snippets from Real Estate Mumbai

Brookfield plans $10 billion investment in Indian real estate in 3-5 years - Apr 29 2024

Brookfield Asset Management, a leading global institutional investor, is set to inject over $10 billion into India's real estate sector over the next three to five years. This ambitious investment strategy aims to seize the burgeoning opportunities presented by India's dynamic real estate market.

Ankur Gupta, Managing Partner and Head of Real Estate for Asia Pacific at Brookfield, expressed confidence in India's growth potential, reaffirming the firm's dedication to pursuing strategic avenues for expansion. Currently managing a portfolio exceeding 51 million sq ft across seven major Indian cities, Brookfield is poised to double its real estate assets under management (AUM) within the specified timeframe.

Brookfield's roadmap for growth in India revolves around diversification and expansion across residential, industrial, and retail segments. Gupta highlighted the untapped potential within India's real estate landscape relative to its advancing economy, underlining the firm's commitment to urban development and affordability through mixed-use projects.

The firm's strategy encompasses holistic asset management and strategic partnerships to navigate various market scenarios effectively. Notably, Brookfield's substantial investments in India's hospitality sector, particularly The Leela hotel portfolio, underscore its long-term commitment and execution capabilities within the Indian market.

Looking ahead, Gupta foresees promising growth prospects for The Leela and India's real estate sector as a whole, buoyed by positive industry trends and economic expansion. Brookfield remains actively engaged in identifying opportunities for portfolio expansion and capital optimization to sustain momentum.

With a diversified portfolio spanning listed Real Estate Investment Trusts (REITs) and segments such as commercial offices, hospitality, housing, industrial warehousing, and coworking spaces, Brookfield is poised to capitalize on India's evolving real estate landscape. Gupta stressed the significance of consistency and strategic focus in leveraging past successes to drive future growth initiatives.

Despite the intricacies of the Indian market, Brookfield views India as a premier investment destination with robust returns. Gupta attributed the firm's stellar track record in India to its relentless pursuit of operational excellence and adeptness in aligning with the favorable macroeconomic environment to drive business objectives forward.

Macrotech Developers to invest Rs 5,000 crore in FY25 on construction of realty projects - Apr 29 2024

Macrotech Developers, led by MD and CEO Abhishek Lodha, is gearing up to escalate its investment in construction projects to over Rs 5,000 crore in the current fiscal year, aligning with the growth in sales and new supply. With a target to deliver more than 10,000 apartments during 2024-25, the company is strategically positioned to capitalize on the strong housing demand.

Lodha emphasized the successful achievement of all major targets for the previous fiscal year, including pre-sales, land acquisition, and debt reduction, amid robust housing demand. He highlighted the sustained demand in India's housing sector, driven by robust economic growth and increasing preference for home ownership.

In line with its growth trajectory, Macrotech Developers plans to launch more projects and acquire additional land for future development, ensuring consistent and predictable growth. The company intends to surpass its construction spending target by investing over Rs 5,000 crore in the current fiscal year, following a spending of Rs 3,700 crore in the previous year.

Despite some delays in project launches, Macrotech Developers aims to fulfill its commitment by scaling up unit deliveries to more than 10,000 units during 2023-24. The company, known for its presence across Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, is expanding its footprint in the Bengaluru market following successful sales in initial projects.

Encouraged by the positive response in Bengaluru, the company is contemplating a potential housing project in another major tier I city. Additionally, Macrotech Developers has set a sales target of Rs 17,500 crore for the current fiscal year, reflecting a 21% growth from the previous year.

Lodha highlighted the company's robust performance in the previous fiscal year, marked by a three-fold jump in profit and significant growth in total income. With a focus on debt reduction and business expansion, Macrotech Developers has demonstrated its operational prowess and brand strength.

Having delivered around 100 million square feet of real estate and currently developing more than 110 million square feet, Macrotech Developers continues to cement its position as a key player in India's real estate sector.

Amitabh Bachchan buys land parcel from HoABL to build luxury villa in Alibaug - Apr 29 2024

Bollywood icon Amitabh Bachchan has acquired a parcel of land in Alibaug, a coastal town near Mumbai, aiming to build a luxury villa in the renowned beachside area favored by affluent personalities. The transaction, valued at over Rs 10 crore, involved purchasing a quarter-acre plot from The House of Abhinandan Lodha. This acquisition follows Bachchan's recent investment in another property near the Shri Ram Janmabhoomi Temple in Ayodhya.

The Bachchan family already possesses several properties in Mumbai, including Jalsa, Prateeksha, and Janak bungalows in the upscale Juhu locality. Notably, they gifted their lavish Prateeksha bungalow to their daughter Shweta Nanda. Additionally, Bachchan leased out four office properties in Mumbai's Andheri suburb to Warner Music India last December.

This move by Bachchan reflects the ongoing trend of high-profile individuals, including Bollywood personalities, investing in real estate for both personal and investment purposes. Alibaug, with its scenic coastal charm and proximity to Mumbai, has become a sought-after destination for celebrities. Actress Suhana Khan, daughter of Shahrukh Khan, recently acquired her second property in Alibaug, joining other notable figures like Ranveer Singh, Deepika Padukone, Sachin Tendulkar, and Rohit Sharma in investing in the region.

Government initiatives aimed at enhancing connectivity between Mumbai and Alibaug, such as the Virar-Alibaug corridor and Mumbai Trans-Harbour Link, are further bolstering real estate development in the area. These infrastructure projects are expected to reduce travel time significantly, from over three hours to just over one hour, driving increased interest from developers, homebuyers, and investors alike.

India's luxury real estate sector is experiencing a surge in demand, fueled by high net worth individuals and NRIs looking to invest in upscale properties. The growing interest in luxury real estate, coupled with improved connectivity and infrastructure development, is propelling the growth of Alibaug as a premier destination for luxury living and investment.

K Raheja Corp Plans Luxury Residential Redevelopment of SOBO Central Mall - Apr 29 2024

K Raheja Corp intends to transform SOBO Central Mall, the nation’s inaugural mall located in south Mumbai, into a sophisticated residential complex. The mall, previously known as Crossroads, has stood since the late 1990s in the esteemed Haji Ali locality, sprawling across 1.3 acres. The envisioned redevelopment aims to erect a striking 50-storey edifice offering panoramic sea views and boasting a potential development area of nearly 250,000 sq ft. Projections based on prevailing property rates suggest a revenue upwards of Rs 2,000 crore for the project.

The acquisition of the property, previously owned by Kishore Biyani’s Bansi Mall Management Company, was finalized by K Raheja Corp for Rs 476 crore. This transaction facilitated the settlement of debts owed by the former owner to creditors, led by Canara Bank. With this acquisition, K Raheja Corp has gained ownership of the mall along with its 150,000 sq ft leasable space.

Positioned amidst the affluent locales of Carmichael Road, Pedder Road, and Altamount Road, often dubbed as India’s Billionaires’ Row, this redevelopment project stands as one of the significant plots in the area. Unlike its smaller counterparts, which typically host housing society redevelopment ventures, this project promises an upscale residential experience.

K Raheja Corp's recent collaboration for the development of a 2.5-acre land parcel in Worli further underscores its commitment to luxury real estate. The proposed luxury residential project in Worli, estimated to yield over Rs 2,000 crore in revenue, reflects the developer's strategic expansion and emphasis on catering to the burgeoning demand for high-end properties.

The surge in demand for luxury housing, particularly evident in Mumbai's upscale neighborhoods like south Mumbai and Worli-Prabhadevi, has prompted realty developers to innovate and introduce premium offerings. With a focus on contemporary designs, world-class amenities, and personalized services, developers aim to meet the discerning preferences of affluent homebuyers, tapping into the lucrative luxury housing market.

Mumbai Property Market Continues Sales Achieves Higher Targets - Mar 17 2024

In February 2024, Mumbai's real estate market showed a robust performance with a notable increase in property registrations. IGR Maharashtra reported 11,742 registrations, marking a substantial 21% rise from February 2023 and a 7% increase from January 2024. This surge is the highest for any February in the past twelve years, indicating a strong demand for real estate in India's financial hub.

Factors driving this growth include escalating income levels and a positive attitude towards homeownership. Unlike the peak in February 2022, attributed to post-pandemic pent-up demand, the current upswing is primarily fueled by increased income and a favorable homeownership outlook, according to Knight Frank India's analysis.

Despite the significant surge in registrations, stamp duty collections revenue experienced a 22% year-on-year decline, dropping from Rs 1,112 crore in February 2023 to Rs 865 crore in February 2024. This decrease is linked to exceptionally high collections in February 2023, influenced by the government's decision to limit tax deductions on capital gains from residential property sales after March 31, 2023. However, on a month-to-month basis, stamp duty collections saw a positive increase of 14%.

Homebuyer confidence in the Mumbai market remains strong, with a positive sentiment expected to continue. The shift in apartment size preferences was notable in February 2024, with a rise in the share of smaller apartments (500 sq ft and below) to 45%, compared to 34% the previous year.

Preferred locations for property purchases are the Central and Western suburbs, collectively accounting for over 73% of total registered properties. These areas are favored for their modern amenities, good connectivity, and new launches. Western suburb consumers (86%) and Central suburb consumers (92%) tend to buy within their micro-markets due to familiarity with the location and the availability of properties aligning with their budget and preferences.

Shishir Baijal, Chairman and Managing Director of Knight Frank India, commented on the positive market performance, stating that the Mumbai residential market has maintained exceptional strength in February. The sustained growth in property registrations reflects the market's resilience and allure, expected to continue with robust economic momentum and potential interest rate easing.

In summary, the Mumbai property market is currently thriving, driven by a surge in registrations, rising income levels, and a positive homeownership outlook. Despite a decline in stamp duty collections revenue under specific circumstances, the market displays resilience and growth potential, offering promising opportunities for investors, developers, and prospective homebuyers.

Transfer Fees - Is it Justifed by Societies? - Mar 05 2024

In the South Mumbai real estate market, despite a legal cap of Rs 25,000 on transfer fees, housing societies are reportedly charging substantial amounts ranging from Rs 10 to 30 lakh for flat transfers. A recent incident involving a businessman selling his spacious flat in a luxury tower highlights this practice, with the society demanding a share of the sale amount for transferring ownership to the new buyer. Another example cited involves a seller paying Rs 28 lakh for the transfer of a 2,850 sq ft flat. These charges, often termed as 'voluntary donations,' are calculated as a percentage of the transaction value, typically around 2%, in areas like Lower Parel, Worli, and Prabhadevi. However, in some central Mumbai locations, sellers are reportedly asked to pay Rs 1,200 per sq ft.

While legally societies are only allowed to charge up to Rs 25,000 for transfers, the practice of demanding higher amounts under the guise of donations is widespread, especially in affluent areas like Cuffe Parade, Nariman Point, and Pedder Road. Such fees, collected ostensibly for infrastructure funds, have been criticized as 'arm-twisting' to bolster society or developer reserves. Despite being common across all property segments, this practice has raised concerns about its fairness, particularly in buildings with affluent occupants and well-funded societies.

Real estate experts point out that rising maintenance costs prompt societies to levy higher transfer fees, often categorized as voluntary contributions or donations to circumvent legal restrictions. Resistance to payment can result in delayed or denied No Objection Certificates (NOCs), leading many sellers to comply to avoid transaction delays. Some parties challenge these fees post-payment, seeking refunds on excessive charges. However, societies often justify these charges as exempt from income tax under the principle of "mutuality," which courts have historically upheld.

Advocates emphasize the need for societies to refrain from excessive charging and suggest seeking funds through general body resolutions rather than imposing burdensome fees on individual transactions. Despite legal precedents and objections, these practices persist, reflecting ongoing challenges within the real estate market.

Another Metro Added to Mumbai's Amazing Metro Infra - Mar 05 2024

On Sunday, Maharashtra Chief Minister Eknath Shinde inaugurated the foundation laying for Metro Line 12, a significant infrastructure development connecting Kalyan with Taloja in Navi Mumbai. This extension is part of the larger Metro Line-5 project (Thane-Bhiwandi-Kalyan) and aims to enhance connectivity within the Mumbai Metropolitan Region (MMR). The new line comprises a fully elevated structure, encompassing 22.173 km with a total of 19 stations. The estimated project cost is Rs 5,865 crore, and it is projected to be completed by the end of 2027, according to an official release.

Chief Minister Shinde emphasized the considerable benefits that Metro Line 12 will bring to the residents of MMR, emphasizing the shorter and more convenient travel options it will offer between Kalyan, Taloja, south Mumbai, Thane, Mira-Bhayender, and Virar. He stated that the travel time between Kalyan and Taloja is expected to be reduced by 45 minutes once the Metro Line 12 becomes operational. Additionally, Shinde highlighted the strategic integration of Metro Line 12 with Navi Mumbai, foreseeing a new wave of development in the surrounding regions and anticipating growth in businesses.

Expressing optimism about the positive impact on traffic congestion, Chief Minister Shinde articulated the expectation of reduced fuel consumption and pollution. He recognized Maharashtra's significant strides in infrastructure development and economic growth, with the Mumbai Metropolitan Region playing a vital role in this progress. Commending the consistent expansion of the Metro network by the Mumbai Metropolitan Region Development Authority (MMRDA), he affirmed their commitment to sustainable urban development in and around the MMR.

In addition to his involvement in the Metro Line 12 project, Chief Minister Shinde attended a function where the ground-breaking ceremony for the Rs 150 crore Ambernath Shiv Mandir Area Development project was performed in Thane district. During this event, he reiterated the importance of spiritual and religious establishments while emphasizing the state government's prioritization of development.

Mahindra Lifespaces Extremely Bullish on Future Developments - Mar 05 2024

Mahindra Lifespace Developers, the real estatsqand infrastructure arm of the Mahindra Group, is pursuing an ambitious strategy to achieve a five-fold growth in pre-sales over the next five years. This entails building a project pipeline with a development value exceeding Rs 45,000 crore, a target nearly ten times its existing range of Rs 4,000 crore to Rs 5,000 crore. The company's focus is set on joint developments, housing society redevelopments, and outright land acquisitions in key markets such as Mumbai, Pune, and Bengaluru.

To support this significant expansion, Mahindra Lifespaces plans to deploy over Rs 7,500 crore, utilizing internal funds, capital infusion from the Mahindra Group, and contributions from institutional investors. Recognized as a growth asset in the Mahindra portfolio, the company is committed to receiving resources and investments from Mahindra & Mahindra, its parent company.

In addition to internal funding, Mahindra Lifespaces is open to bringing in a financial partner at either a platform or project level and is considering raising debt, given its low debt-equity ratio. The company's pre-sales for the fiscal year 2022–23 were Rs 1,812 crore, and for the first nine months of the current fiscal year, it stood at Rs 1,243 crore. Notably, the company sold apartments worth Rs 800 crore in its newly launched Kandivali project.

The primary growth focus is expected to come from the residential business, while the industrial segment is anticipated to remain stable. Amit Sinha, MD & CEO, highlighted the positive experience in redevelopment projects, particularly in Mumbai, where the company secured rights to redevelop housing societies in Santacruz and Malad suburbs. Mahindra Lifespaces aims for redevelopment projects with a GDV threshold of Rs 1,000 crore.

Furthermore, the company is looking into horizontal development, as evidenced by its recent project launch in Chennai. Mahindra Lifespaces' current development footprint spans 35.06 million sq ft across seven Indian cities, encompassing ongoing and forthcoming residential projects, integrated developments, and industrial clusters. The existing portfolio includes 14.48 million sq ft across 14 ongoing and five new projects, along with over 5,000 acres under development in various locations.

Maharashtra Government - New Rules for Development with Infra - Mar 05 2024

The Maharashtra government is aiming to enhance the usage of Metro and monorail services by introducing a new Regulation 33(23) focused on transit-oriented development (TOD) zones within the city's Development Control and Promotion Regulations - 2034. These TOD zones will be established within 500m of Metro and monorail stations, as per a government notification. To encourage affordability, the tenement size within TOD zones is set to a minimum of approximately 300 sq ft, similar to a slum rehabilitation tenement, and flats cannot be combined. This initiative aims to attract residents who can utilize these flats for their daily commute.

On February 20, the Mumbai Metropolitan Region Development Authority (MMRDA) reported 80 million ridership for Mumbai Metro Lines 2A and 7 over one year, prompting the government's notification. However, concerns about the gap between ridership estimates and actual demand have been raised. The proposed regulation suggests promoting high residential density in TOD zones, allowing a minimum floor space index (FSI) of 2.25 for a 40,000 sq ft plot, increasing to 4 FSI for a 2 lakh sq ft plot with a 9m road width. On a 27m wide road, a developer can utilize up to 7 FSI on a 2 lakh sq ft plot. FSI dictates the permissible construction on a given plot.

For the underground Colaba-BKC-Aarey Metro Line 3, plans include constructing a vestibule directly connecting to the station, facilitating easier entry and exit for commuters. Architect-activist Nitin Killawala cautioned against further densifying areas around public transport hubs in Mumbai, emphasizing the city's existing congestion. He suggested that this approach may be more suitable for the Mumbai Metropolitan Region, where there are vacant spaces around Metro stations, serving as an incentive for public transport usage. Killawala highlighted the demand for residences near, but not directly in front of, stations in Mumbai, citing price differences between various station areas.

Maharashtra Property Registration Numbers Regain Highs - Mar 05 2024

The property registration department has successfully reached 83% of its revised revenue target for the fiscal year 2023-24, which was adjusted to Rs 50,000/- crore from the initial Rs 44,000/- crore due to the high volume of registrations and revenue collection. From April 1 to the end of February, the department recorded over two lakh monthly registrations, accumulating a total of Rs 24.98 lakh registrations and revenue collection of Rs 41,911.51 crore. This makes the registration department the second-largest contributor to the state exchequer. Monthly earnings have consistently exceeded Rs 3,500/- crore, emphasizing the department's robust financial performance.

As the financial year approaches its end on March 31, and with the anticipation of new Ready Reckoner (RR) rates, developers have appealed to the state government to maintain the current RR rates to sustain the prevailing market buoyancy. The RR rate, equivalent to the "circle rate" or "guidance value" in various parts of India, establishes the minimum per square foot rate for a property set by the state government. Developers argue that altering the RR rates could disrupt the positive market trend. In January, the state CREDAI (Confederation of Real Estate Developers' Associations of India) submitted a request to the government, emphasizing the need for rate stability in 2023 and suggesting rationalization of stamp duty charges for potential Floor Space Index (FSI).

State CREDAI President Pramod Khairnar emphasized the buoyancy of the market and cautioned against disturbing the trend by increasing RR rates. He proposed rationalizing and charging stamp duty based on the utilized FSI. CREDAI national vice president Sunil Furde echoed this sentiment, highlighting the improving property registrations and revenue generation. As 2024 marks an election year, there is a consensus among industry representatives that the state government should refrain from making changes at present.

In the previous fiscal year 2022-23, the state government had increased RR rates by an average of 8.8%, with a uniform hike of 8.8% for all municipal corporations, excluding Mumbai. In 2017-2018, the rates were raised by 5.9%. Ahead of the Lok Sabha elections, any adjustment to RR rates in Maharashtra after April 1 may require permission from the Election Commission of India, should the code of conduct come into effect by then, as indicated by a revenue official.

Oberoi Realty Signs Agreement with Marriott International to Develop Hotels in Thane and Borivali - Feb 16 2024

Oberoi Realty Elevates Luxury Living with JW Marriott Hotel Thane Garden City and Marriott International Mumbai Marriott Hotel Sky City in BorivaliMumbai, 16th February 2024: Oberoi Realty today entered into an agreement with Marriott International, aimed at enriching luxury living experiences in the Mumbai Metropolitan

Region.

The agreement marks the development of two Marriott properties: JW Marriott Hotel Thane Garden City and Mumbai Marriott Hotel Sky City in Borivali, both set for completion in 2027-2028. These developments are positioned to redefine the landscape of urban living and hospitality in Mumbai, promising unparalleled experiences for both residents and visitors alike.

Speaking on the announcement, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited, said, “We are delighted to develop and bring the JW Marriott Hotel Thane Garden City to Thane and the Mumbai Marriott Hotel Sky City to Borivali.

The JW Marriott Hotel Thane Garden City will be set in Oberoi Garden City, Thane, our integrated development spread across 75 acres which will also consist of luxury residences and world class amenities.

The Mumbai Marriott Hotel Sky City will be part of Sky City, our integrated living development, spread across 25 acres in Borivali East which also consists of 8 luxury residential towers and the premium Sky City Mall that spans over 1.5 million square feet.

Combined with world-class interiors, design and architecture, this association builds upon our vision of foreseeing the absolute potential of spaces, our commitment to shape the future of Mumbai's real-estate landscape and to elevate and transform lifestyles not only for our customers but also the residents in both locations.

We look forward to continuing our long- standing association with Marriott International considering our ongoing management agreement with our hotels The Westin Mumbai Garden City and The Ritz-Carlton, Mumbai.”

JW Marriott Hotel Thane Garden City will be developed within Oberoi Garden City, Thane – an integrated development by Oberoi Realty. With the existing robust infrastructure and planned connectivity, Thane has created its own identity as an aspirational destination.

Building on the success of Oberoi Garden City, Goregaon, we are committed to enhancing Thane's lifestyle with luxury apartments, landscaped gardens, and world-class education. The JW Marriott Hotel Thane Garden City will add exemplary hospitality to the growing affluency of Thane.

Situated in Sky City by Oberoi Realty, Mumbai Marriott Hotel Sky City will further enhance the integrated lifestyle. We have delivered nearly 1500 apartments which are in the process of being handed over to their customers. Slated to launch in FY 2024-25, Sky City Mall is set to offer a gamut of experiences for the whole family with leading domestic and international

brands across apparel, electronics, lifestyle, entertainment options and culinary experiences.

With impeccable architecture, world-class amenities, seamless connectivity to the Metro and Western Express Highway, and the luxuries of Mumbai Marriott Hotel Sky City and the Sky City Mall, Sky City epitomizes the pinnacle of urban living.

These developments highlight Oberoi Realty's unwavering dedication to cultivate urban luxury communities. Embracing the core tenets of New Urbanism, Oberoi Realty strives to create dynamic and sustainable neighbourhoods that prioritize community well-being and connectivity, without compromising on luxury. Through innovative design principles and meticulous attention to detail, Oberoi Realty continues to lead the way in shaping the future of urban living in India. Residents can anticipate a seamless integration of luxury, convenience, and sustainability in every aspect of these developments.

Source - https://www.oberoirealty.com/media

Amitabh Bachchan Leases Prime Office Space to Warner Bros in Andheri West - Jan 09 2024

Lodha & Skechers Build Mega Hub - Dec 28 2023

Live in Mumbai with Dubai Life style - Own a Private Villa - Dec 10 2023

We have been witnessing a lot of new Township projects in the periphery of Mumbai, be it towards Thane, Dombivali, Navi Mumbai or Virar etc. But the one which takes away the cake is Lodha Upper Thane located 10 Min Drive from Majiwada equal to going upto Hiranandani Estate.

Introducing - Lodha Villa Royale which gives you the best experience at your home, with high ceilings to be living right here in Mumbai in your own piece of land with your own garden, that itself is just so so amazing. Come find out what inspired Sussanne Khan. You have 3 options here, Just Buy the Plots in the Community Development, keep it for a few years and construct on your own. You can buy Land plus Villa which is super structure done by Lodha itself an you can then furnish it as your own or even you can have even the designers recommended by Lodha to finish for you.

This is a Brand New Township where Lodha Group has nearly 200 Acres of Land and its off the Mumbai Nasik Highway and 1 Hour from Airport and 45 Min to BKC and around 60 Min to Colaba via Eastern Free Way.

Every thing here is Brand New, that is the beauty, its one of the nicest and cleanest complex with wide roads, a Cricket Ground, Football Ground, School and a Temple in the Complex.

This is ideal for any one looking to Buy a Home or an Investment in Mumbai which is bound to have a steady Capital Appreciation. The Lodha Group has also launched Villas in this Scheme and i can only share that it feels like Dubai, Surrey (Vancouver, Canada) or the gated community villas in USA with Club Houses etc.

If you are looking to Invest or have a Home not far away from Mumbai, then this is the best bet you can have. Focus is on Quality Life, ZERO Pollution, the Temperature is 3 degrees cooler than Mumbai at night and of course the peace of mind to have a Home or your Private Villa which can be as large as 650 or 800 Sq.Yards or 250 Sq.yards with your own back yard and your own car parking space to charge your New EV.

A few of the Points which come to my mind for Choosing this for you as an Investment or a Home.

Spacious, well-planned township: Lodha Upper Thane is a large and well-planned township with over 200 acres of land. More than 80% of the development is dedicated to open spaces, parks, and gardens, providing residents with a green and healthy environment.

World-class amenities: The township offers a wide range of amenities, including clubhouses, swimming pools, gyms, sports facilities, children's play areas, retail outlets, restaurants, and healthcare facilities, ensuring a convenient and comfortable lifestyle for residents.

Excellent connectivity: Lodha Upper Thane is well-connected to Mumbai and other parts of the Mumbai Metropolitan Region by road, rail, and air. The Eastern Express Highway, Thane railway station, and Chhatrapati Shivaji Maharaj International Airport are all easily accessible, making it convenient to commute to work or travel to other parts of the city.

High-quality construction: Lodha Group is known for its high-quality construction and finishes. Apartments at Lodha Upper Thane are spacious, well-ventilated, and naturally lit, and come equipped with modern features and finishes.

Strong community: Lodha Upper Thane is home to a vibrant and diverse community of residents. The township regularly organizes cultural and educational events, fostering a sense of belonging and togetherness.

Investment potential: As Thane is a rapidly developing city, property values in Lodha Upper Thane are expected to appreciate over time, making it a good investment option.

https://www.youtube.com/watch?v=_qBU-LEDbU4 - Lodha Villa Royale designed by Sussanne Khan.

If you are looking to consider a Home in Mumbai and have the Lifestyle of Dubai or International then this is for you!!

Call - Sandeep Sadh - 9820030685 for a detailed presentation.

Dont Buy a Home if you cant afford - Rent It!!! - Dec 10 2023

In general, it's not recommended to buy a flat in Mumbai if you can't afford it. Here's why:

Financial Burden:

High property prices: Mumbai has some of the highest property prices in India, making it difficult for most people to afford to buy a flat outright.
Home loans: Taking a large home loan can be a significant financial burden, especially if you have other financial obligations.
Maintenance costs: Owning a property comes with additional costs like property taxes, maintenance fees, and repair costs.

Market Conditions:

Overvalued market: Some believe the Mumbai real estate market is overvalued, meaning prices are inflated and may not increase significantly in the near future.
Slow appreciation: Property appreciation in Mumbai has been slow compared to other Indian cities.
Stagnant rental yields: Rental yields in Mumbai are relatively low, meaning you may not be able to earn enough rent to cover your mortgage payments.

Alternative Options:

Renting: Renting a flat can be a more affordable option, especially in the short term. This frees up capital for other investments or saving towards a future purchase.
Investing: You could invest your money in other assets like stocks, bonds, or mutual funds, which may offer better returns than property.

Additional factors to consider:

Your age and career stability: If you are young and your career is still evolving, renting may be a better option until you have more financial stability.
Family plans: If you are planning to start a family, buying a flat may be a more attractive option for long-term stability.
Location: The location of the flat will significantly impact its price and rental yield. Choose a location with good amenities, infrastructure, and growth potential.
Personal preference: Ultimately, the decision to buy or rent comes down to your personal preferences and financial situation.

It's important to consult with a financial advisor or real estate expert before making any decision. They can help you assess your financial situation, understand the options available, and make an informed decision that is best for you.

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