Real Estate Forum on Other for Mumbai

What was the reason that the construction work was stopped in Mandakini Towers?

Hey Sajjad, Is there any legal issue with the project? Can you throw some light..

Property prices in the Mumbai region has seen an escalation in prices when compared with per square feet prices of first quarter of 2012 over same period last year.

The real estate market of Mumbai has always been an attractive destination for buyers because it provides high return on investments.

Even I am also planning to book a flat in BBJ Siena but not getting any updates about it. Can anyone update me?

BBJ Siena is another supreme venture of BBJ Worldwide. BBJ Siena is located adjacent to one of the most critical east west transport link in Mumbai and the Eastern Express Highway. The project offers 1bhk and 2bhk apartments with good amenities.

The home buyers within the city may not change their mind as the difference will be very less compared to the investment they need to do for the properties in city location.

As the state government of Maharashtra has proposed a hike in the stamp duty of the property transaction, the buyers of the residential and non-residential properties will have to pay a five per cent stamp duty on the market value of the property.

The cost of retail real estate properties are higher in India. As a result the set up cost is higher for a luxurious retail brand.

We have used the services of Redevelopment Project Management Consultants for our Society in Borivali They one of the leading Project Management Consultants and has given us good guidance for sec 79 A You can refer their website www.redevelopmentconsultants.com

Hey Rajib, to maintain the steady supply of electricity, the authorities are planning to buy power from different sources.

The government will ask the companies to stop the construction work.

Hi Anu, the builders are planning to sell different commercial properties to reduce the debt.

6 Floors bought by Citigroup for 985 Crores

As the builders are more interested in purchasing new land, they are not concentrating in construction phase. That increases the cost of construction of the apartments.

Hi, this time the annual lottery will be delayed as well as the housing rates in Mumbai is said to be skyrocketing

The rate of returns has decreased and the projects are also delayed. So the PE firms are not showing interest in investing into real estate projects.

Then what will the builders or developers do for investment?

The govt. usually shows a blind eye towards such illegal activities. When it comes to a serious issue it talks about law and punishment etc.

Different activists against illegal constructions appreciated the decision as the law will keep a tab on erring officials who delay action and play the blame game instead.

Hello all.... for coming out from the stagnant situation and to increase the absorption rate, the local builders have started to reduce the cost of the properties.

Have any builder reduced the price of apartments recently?

As a result of the Arunkumar Tikku and Karan Kakkar murder case, the housing societies in Mumbai are refusing to allot flats to the singletons and small TV artists.

The members of Cine society suggested that 'CINTAA card should be used as a credential for societies to allow accommodation to those working in the industry'.

Slum residents get free homes and builders get plots... It seems to be a good idea..

Redevelopment of slums is an exciting business model in Mumbai real estate. Omkar Realtors are in the front.

Criminal activities are frequently observed in Mumbai in the recent years. They are increasing day by day.

Yes Prasant, recently the incident of Arunkumar Tikku at Samarth Aangan Society in Oshiwara, took place.

I heard that Kandivli’s Mahavir Nagar residents compelled all hawkers to leave the footpaths of the locality.

Yes Charan, the residents took this decision as they were fed up with the daily arguments, eve-teasing and traffic congestions because of the street vendors.

Government authorities are demolishing the illegal constructions while the contractors are again starting the construction later.

An illegal godown which was under construction collapsed on Tuesday and a woman was dead and 6 were injured.

Hey! Sounds pretty interesting. Well, I suppose that this is scheme is all about securing our neighbors in the society.

Neighbourhood Watch scheme never heard about the concept. Can anyone knowledge me about this?

And mainly into roads construction in different cities of India.

Unity has a total sale-able area of nearly 3 million square feet in the Bangalore residential project, which it intends to launch in another three months.

I heard that a multipurpose building inclusive of library, parking, hall facility and gym was recently inaugurated at Vashi Sector 14 in Mumbai.

When is the building expected to be completed?

Many builders after collecting the booking amount from buyers, instead of using it for construction, invest on buying other lands. This is one reason for delay usually occurring.

And one more reason for delay is due to the long time taken in getting approvals from different departments. Settling all the legal issues if any and getting necessary resources cause delay.

The work has been given to contractors and asked to complete it before May.

May is the deadline. Our civic body could not complete it for years and now it has given deadline to contractors. Lets see what happens.

Hi Manoj, the builders are not happy with the direct jail terms in the bill and they asked to remove it but the union ministry has refused to do so.

Increasing taxes on properties and building materials, are responsible for the high rents and property prices in Mumbai. It is a tough time for the residents of Mumbai.

Hi Aditi, according to sources, the construction starts from September 2013. The delay occurred due to the slow progress in getting clearance from all the necessary departments.

Acquiring one's land illegally is an offense. They are punishable if the it is proved that the land belongs to someone else. Our government is against to such actions.

Hi guys... I heard that Mukhesh Ambani has also acquired some land. Is it true? If yes then what action will the government take on him?

The property price might rise due to high cost of construction and financing in Indian cities.

Hey Anoop, GPL and RR builders have together taken up this project. Godrej's roles include conceptualization, design, sales, and marketing of the project.

As per my knowledge, house owners should pay for house renovation. It is the house owner who stands responsible to spend for house renovation.

According to sources, after the implementation of the caretaker scheme, the adoption of the open spaces in Mumbai is getting tougher and costlier.

Read more about the adaptation of the open space here Adoption of open spaces in Mumbai is getting pricey.

Hai Sanket, the stamp duty has been increased from 0.1 % to 1% and analysts say that this will affect the rental market. Leasing of a property will not be considered as renting will be much easier.

Anoop, the cost of an apartment in the city interior parts is likely 2 times higher than that of an apartment in the city outskirts. That's the reason common man goes for a flat in suburbs.

Hi, I agree that the prices are going high, but as far as I know, the price range for 1 BHK is less than 50 Lacs and for 2 BHK it is Rs. 40 Lacs to Rs. 1.2 Crore.

There are many affordable homes projects for common man. And the prices you have mentioned are of luxury homes. The cost of a house usualy depends on the locality of the project, amenities and facilities provided etc.

They are planning to go for a one day strike, so that the government listen to their woes. They have not decided when they going for a strike.

Hey Ashish, I was checking about the prices of flats in Orchid Ozone it is given as Rs 36lakhs for 1bhk flat and Rs 55lakhs for 2bhk flats.

It will cost you around 8000 psf and for 596 sft flat it should be approx. 48 lakhs. This is going to be one of the best complexes in near future.