Real Estate Monthly Tracker for MMR (June-July,2015)

Q: In Real Estate Monthly Tracker For MMR one can get the details of units launched, most active micro markets, news, regulatory updates industry buzz, major deals and key projects during that period.

Suresh,

24th July 2015

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Replies (7)

Good afternoon buddy......
Here are some good projects as per your preferred localities:- Codename Big Bang by Lodha Group located at Kolshet Road with its current price Rs.7700/sq-ft.

Mira Pride by Mayfair Housing Pvt. Ltd. located at Mira Road and its price per square feet will be Rs.7500.

Another good project is Imperial Heights The Epitome by Radius Developers located at Goregaon West and its price will be Rs. 17000/sq-ft.

Vinay Dixit, Mumbai

5th August 2015

Comment

Hey guys,
Is it true that K Raheja Corp has bought a 1.4 acre plot in Worli from HSBC for about Rs. 230 crore? And in a major deal Wadhwa Group raised Rs. 200 crore from Piramal Fund Management?

Sankalp, Mumbai

5th August 2015

Comment

Yes, both the news are correct and it is came to know that HSBC Bank had put up the plot for sale last year and invited bids. And Wadhwa Group will use the raised funds for its 500-acre township in Panvel.

Sandeep Mhatre, Mumbai

5th August 2015

Hi Sandeep,
Actually, i am planning to buy 2BHK in Mumbai. I would prefer areas like Mira Road and Goregaon West for that. Can you tell me the name of some good projects and it's price per square feet?

Sankalp, Mumbai

5th August 2015

He guys,
Here is a good article which will give you the current updates on MMR. Click the link Real Estate Mothly Tracker for MMR

Sanjana Jain, Mumbai

6th August 2015

Hi everybody,
I heard about lot's of Industrial Buzz in MMR such as the road widening work on a 300-metre stretch of Sion-Panvel Highway in Raigad district is stuck due to the presence of mangrove trees and the state plans to spend USD 16 billion over the next 5-6 yrs for renovating key infrastructure projects as well as renovating long inactive key infrastructure projects in the state. Am i right friends?

Amreesh Murugan,

5th August 2015

Comment

True Amreesh,
According to officials of the state public works department, they have not yet received green clearance from the Chief Conservator Of Forest regarding stretch of Sion-Panvel Highway. And they have added Navi Mumbai International Airport and Coastal Road Project under the key infrastructure projects.

Apart from that Maharashtra Govt is planning to give tax rebate to developers for constructing green building in the residential as well as commercial spaces.

Sandeep Mhatre, Mumbai

5th August 2015

@Sandeep,
I think this deduction involves 3-7% tax rebate for buildings constructed across all municipal corporations and councils.

One more news was coming to hear that Mahindra Lifespace is looking at expanding its affordable housing focus by joining hands with the central and state governments in a Public Private Partnership.

Amreesh Murugan,

5th August 2015

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Mahesh Patkar,

28th July 2015

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Hi guys,
I also heard that Mumbai will get its first double-decker bridge on P DMello Road at ChhatrapatiShivaji Terminus (CST). This double-decker bridge will have railway tracks and a motorway. While tracks will be constructed at an elevated level, cars will ply above that. Do you have any updates on Smart Cities project in Mumbai?

Amreesh Murugan,

24th July 2015

Comment

What are the regulatory updates of June-July,2015?

Ashish Sharma, Mumbai

24th July 2015

Hi Ashish,
The Bombay High Court recently directed the state government to set up a mechanism where a buyer can know whether a housing project has all the necessary approvals under one roof or not.

Second important news was, the Bombay High Court has directed its court receiver to take possession of nine illegal buildings in Digha of Navi Mumbai, which are constructed as well as being constructed without permission.

And The Maharashtra government will soon appoint a regulatory body to safeguard home buyers.

Amreesh Murugan,

24th July 2015

Mahesh Patkar,

28th July 2015

hi Anirudh,
Kolshet Road, Mira Road and Nalasopara West are the three most active micro markets in June-July,2015 as per a commonFloor research data. During that period Kolshet Road launched 2000 units and both Mira road and Nalasopara West more than 500 units. Where the percentage of units launched in 1RK is 6%, 1BHK-42%, 2BHK-29% and 3BHK-13% in which the percentage of luxury is 17%, mid segment-39% and affordable-13%.

Sandeep Mhatre, Mumbai

24th July 2015

Comment

Thanks Sandeep,
Can you tell me what is the current residential property rate is going on in those localities?

Anirudh Patel, Mumbai

24th July 2015

UR WC Anirudh,
As per the commonFloor research data property rates in those localities are as follows:- Kolshet Road-7650/sq-ft., Mira Raod-7400/sq-ft, Nalasopara West-4150/sq-ft, Goregaon West-17000/sq-ft and Chembur-11500/sq-ft.

Sandeep Mhatre, Mumbai

24th July 2015

As per the latest news, JNPT have sent the master plan for the JNPT SEZ to the Ministry of Shipping for approval. The soft launch of the SEZ can be expected by the end of 2015, and the construction work may begin by early 2016. is it true? Do you have any current news of those locality?

Anirudh Patel, Mumbai

24th July 2015

Yes, it is true......
Apart from that the union environment ministry gave a green clearance to the Navi Mumbai international airport, thus completing the major clearances require to start working on the long pending project.

The Mumbai Urban Transport Ph-3 project was launched on June 28th. The project will include doubling the number of railway tracks on the Virar-Dahanu route from 2 to 4, doubling the sole railway track between Karjat and Panvel and constructing an elevated link between Kalwa and Airoli.

Sandeep Mhatre, Mumbai

24th July 2015

Mahesh Patkar,

28th July 2015

Hi Suresh,
I must say that it will be a useful thread for the property buyers in MMR. Can you tell me which locality in MMR emerged as a most active micro market and how many housing units were launched during that period?

Anirudh Patel, Mumbai

24th July 2015

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