Latest Property News from Mumbai Property Market

Latest Property News, Tips & Analysis by our expert team
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Is real estate a high or low risk investment in Mumbai?

Jun 01 2023

Real estate investment in Mumbai can be considered both high risk and high potential. Mumbai is a dynamic and rapidly growing city with a high demand for housing and commercial spaces. The real estate market in Mumbai has historically shown strong appreciation in property values, and investing in the right property at the right location can yield significant returns.

However, there are several factors that contribute to the high-risk nature of real estate investments in Mumbai. Some of these include:

1. Price Volatility: Property prices in Mumbai can be highly volatile, influenced by various factors such as market demand, economic conditions, government policies, and infrastructure development. Rapid price fluctuations can impact investment returns.

2. Regulatory Environment: Real estate investments in Mumbai are subject to regulatory and legal considerations. Changes in government policies, regulations, or land acquisition laws can affect property values and investment returns.

3. Market Saturation: Mumbai is a densely populated city with limited land availability. The market may become saturated in certain areas, leading to a slowdown in price appreciation and rental demand.

4. Project Delays: Construction delays are common in Mumbai due to issues such as regulatory approvals, infrastructure constraints, and labor disputes. These delays can impact the timely completion of projects and affect returns on investment.

5. High Initial Investment: Real estate in Mumbai is generally expensive, requiring significant initial investment. This can increase the financial risk associated with such investments.

It is important to conduct thorough research, assess market conditions, and seek professional advice before making any real estate investment. Diversifying your investment portfolio and considering factors such as location, property type, developer reputation, and rental potential can help mitigate risks and maximize returns.

Bandra East - BKC - New Destination for Affordable Housing in Mumbai

May 26 2023

Bandra Kurla Complex (BKC): The Prime Real Estate Destination for Living, Investing, and Working is now becoming more attractive.

Bandra East - Kher Nagar - the area off the Express Highway is a boon and blessing for commuters who need to reach BKC and in their offices/banks bang on time. The area has seen investments from Rustomjee, Shapoorji, Antariksh Group to name the few. The 1 BHK apartments start in the location from 1.50 Cr and 2 BHK in the range of around 2.20 Cr. These prices are excellent and comparable to Borivali East - West etc.

Imagine leaving from your home from Bandra East, cross the road and get into the Jio Mall and have a Fresh Coffee at Pret A Monger or visit the Apple Store to upgrade your Macbook Air or your Iphone in a few minutes and also to reach office in 10 - 15 min without stress.

We see this as a growth area and it offers a sheer sense of comfort.

Bandra Kurla Complex (BKC) in Mumbai has emerged as a thriving hub for premium residential, commercial, and financial activities already and in the Premium Residential side we have Rustomjee Seasons, 10 BKC and Kalpataru Sparkle, Oriana and Kalpataru Magnus.

Originally designed as a business district, BKC has witnessed a significant increase in residential development, making it a highly sought-after location for real estate investment and living.

Strategic Location and Connectivity:
  • BKC's strategic location in the heart of Mumbai offers excellent connectivity to all parts of the city.
  • Situated in a central location on the northern side of Mahim Creek, BKC is bordered by Kurla to the east, Bandra to the west, and Santacruz to the north. It enjoys easy access to Bandra and Kurla railway stations, serving the Western, Harbour, and Central lines of the Mumbai suburban railway.
  • Moreover, BKC is well-connected by road, including the Western and Eastern Express Highways, and is just a short distance away from the domestic and international airports.
  • World-Class Social Infrastructure: BKC boasts top-notch social infrastructure, making it an ideal place to live.
  • The area is home to leading international schools such as the Dhirubhai Ambani International School, Orchid's International, and the American School of Bombay, ensuring access to exceptional education. Residents also have access to renowned healthcare facilities, including hospitals like Shushrut Hospital and Universal Multispecialty.
  • Additionally, BKC offers a wide range of recreational avenues, from luxury malls like Jio World Drive to diverse dining options serving cuisines from around the world. The presence of ample open spaces allows for activities like jogging, cycling, and picnicking.

Growing Demand for Office Space: BKC is a sought-after destination for office space in Mumbai, with several Fortune 500 companies, banks, financial institutions, and government institutions located here. The demand for office space in BKC has been steadily increasing, making it an attractive investment opportunity. Investing in BKC provides the potential to benefit from the growing demand for commercial space and the associated economic growth.

World-Class Infrastructure: BKC offers world-class infrastructure, featuring wide roads, landscaped gardens, and ample parking space. The complex provides excellent security and is a gated community, ensuring a safe and secure living environment. Several luxury residential properties in BKC offer a host of amenities, including in-house gyms, entertainment facilities, swimming pools, and forest trails, providing residents with a comfortable and convenient lifestyle.

High Potential for Appreciation and Rental Yields: Investing in BKC provides the potential for both capital appreciation and high rental yields. The limited availability of land in the area, coupled with the growing demand for residential and commercial space, has led to steady appreciation in property values. The upward trend in prices, with an average annual appreciation of 4-6%, makes BKC an attractive investment option for long-term returns.We anticipate highest lease rent returns in this zone.

Bandra Kurla Complex (BKC) has emerged as Mumbai's premier real estate destination, offering an ideal mix of strategic location, connectivity, world-class infrastructure, and social amenities. With its growing demand for residential and commercial space, BKC presents excellent investment opportunities for individuals looking to buy real estate or invest in the area. Whether for living, working, or investing, BKC provides a prestigious and vibrant neighborhood with a promising future in the Mumbai real estate market.

Oberoi Realty likely to launch New Projects in Kolshet and Pokhran Thane soon

May 26 2023

Mumbai's Premium Real Estate Brand Oberoi Realty has announced that it has entered into a memorandum of understanding with NRB Bearings (NRB) for the acquisition of land in Thane, Mumbai. The land measures approximately 25,700 square meters (about 6.4 acres) according to the title deeds. Oberoi Realty has already made a partial payment towards the acquisition, and the remaining balance will be paid before the completion of the transaction. It must be noted that prior to this ORL had picked up the Blue Star plot and before that Glaxo - All these 3 land parcels will form part of the larger land development in Pokhran Road 2 at Thane. This makes ORL one of the largest companies to hold the largest piece of land bank in Thane.

The new launch of these will happen for both Kolshet Land and Pokhran Road land in the next few months. Oberoi Realty is likely to replicate the success story of Oberoi Garden City, Goregaon East with a Hotel, Oberoi International School, Mall and impetus on family living.

Oberoi is known for creating landmarks and Thane is a New Market for Oberoi Realty as this market is full of competition of strong players. Oberoi over the years has never had to face any competition and Thane will be one of the markets which will have competion from Lodha, Kalpataru, Rustomjee, Ashar, Hiranandani, Piramal etc.

The newly acquired land is adjacent to the company's existing land, which spans approximately 2,72,344 square meters (about 68 acres). This acquisition will likely allow Oberoi Realty to expand its existing property holdings in Thane.

In the recently concluded quarter ended March 31, 2023, Oberoi Realty reported significant growth in its net consolidated profit. The company's profit after tax for Q4 FY23 was Rs 480.29 crore, reflecting a substantial increase of 106.71% compared to the corresponding quarter of the previous fiscal year. Additionally, its net consolidated total income rose to Rs 995.11 crore, representing a growth of 18.05% compared to the same quarter last year.

Most likely Oberoi Realty will launch Kolshet project first with typical 3 bedroom planning.

In case you are looking for more information about the New Launch - Call Sandeep Sadh - 9820030685.


MahaRERA Services for Developers, Buyers and Agents

May 11 2023

The MahaRERA portal is a vital online platform that plays a crucial role in the real estate sector in the Indian state of Maharashtra. It is a comprehensive online platform that enables real estate developers, promoters, and agents to register their projects and obtain necessary approvals from the regulatory authorities. The portal provides a range of services for the convenience of promoters, such as project registration, complaint redressal, and dispute resolution, among others. However, despite the wide range of services offered on the portal, there may be certain key services that are not available to promoters.

The specific key service that may not be available for promoters on the MahaRERA portal could vary based on the current updates and changes made to the portal. It could be due to technical issues, system maintenance, or other reasons. The absence of a particular service may pose challenges to promoters and may hinder their ability to complete their projects within the stipulated timeframe. For instance, if the complaint redressal mechanism is not functioning properly, promoters may not be able to address grievances raised by homebuyers in a timely and effective manner. This may lead to delays in project completion and could impact the reputation of the promoter and the real estate sector as a whole.

Despite the possible limitations, the MahaRERA portal has significantly simplified the process of project registration and regulatory compliance for promoters. The portal has brought greater transparency and accountability to the real estate sector and has enhanced consumer protection by providing a robust complaint redressal mechanism. The portal has also reduced the burden of paperwork and has made the entire process more streamlined and efficient. The government of Maharashtra has taken several initiatives to promote the use of the MahaRERA portal and has encouraged promoters to register their projects on the portal to ensure compliance with the regulations.

In conclusion, while there may be certain key services that are not available for promoters on the MahaRERA portal, the portal has undoubtedly been a game-changer in the real estate sector in Maharashtra. The portal has brought greater transparency, efficiency, and accountability to the sector and has improved consumer protection. The government and regulatory authorities must continue to work towards resolving any issues with the portal and ensuring that it provides all necessary services to promoters to facilitate the smooth functioning of the real estate sector.

Mumbai's redevelopment market to inflate Residential Lease Prices

Apr 25 2023

In the midst of Redevelopment of Cooperative Housing Societies, there is a big challenge gripping the Mumbai Rental Market. The lease supply in the market is low and the prices have gone up on an average in each location. The most impacted belt in prices is the prime locations from Andheri to Worli where the options of smaller 1 and 2 BHK apartments are drying up.

Under the redevelopment agreement, the developer gives 2/3 years rent to the occupants along with the corpus funds and the apartment owners move out temporarily to other locations/buildings etc. The exodus here is not of few families but of the entire residents of the building. Think - if a building has 50 residents and its gone for redevelopment then all the 50 people need to go and find a home for themselves. Now each one to its own, either moves out to a different location, city as well but at least 60 - 80% stay in the same or in close proximity to the location they were in as their entire ecosytem is in the same location.

Owing to the redevelopment where the demand outstrips the supply, the lease market is alive with multiple queries and apartments are not staying vacant more than a few weeks.

So in case you are looking to rent then dont be under the misconception that you will have enough options available, sincere advise - what ever comes easiest within your budgets - close the deal, dont wait too much. Happy House Hunting.

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