Is it right time to buy property?

Q: I am planning to buy property in Mumbai. Do you think this is the right time to buy property?

Saran,

1st December 2015

Buying property in Mumbai

housing for all

buying property in mumbai

discounts in festive season

offers in festive season

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Replies (5)

But the biggest issue faced by buyers is the inability of builders to deliver on time. This problem is especially acute in Delhi-NCR and MMR. In NCR, only 20% projects are running on time. The figure for MMR is 15%. Now, the decision is urs.

Sujan Mitra,

23rd December 2015

Comment

Right Sujan.....
People have realised that in a bad situation getting out of real estate can be very difficult. The lack of liquidity has made people look for other liquid assets like equities and debt mutual funds.

Balwinder Singh,

23rd December 2015

Hi Saran,

We are delighted to know about your interest in buying a property. Our property Avezza is located at Mulund & Eleve is located at Bhandup . If you wish to know more about the project, please share your contact details so that our team can get in touch with you.

Regards,
Tata Housing Development Company

Amit Nanda, Mumbai

17th December 2015

Comment

Thanks Balwinder and Dharmaja,
My another question is while there is a need for affordable housing, developers are mostly engaged in building luxury and super luxury flats. I am not happy with this trend. What is your view for luxury housing?

Miraniyatin, Mumbai

1st December 2015

Comment

There is no doubt an increasing need for affordable housing. Home buyers usually prefer property with prices ranging between Rs 30 and Rs 50 lakh. Ans as per data 95% of our projects falls in the affordable property segment, while only 5% belongs to the luxury segment. But the reason is that people have not stopped investing in luxury segment and still looking for luxury living. that is why luxury housing has its own place in the realty market.

Balwinder Singh,

1st December 2015

Hi,
What do you think the government should do to deal with the problem of huge shortage of housing in the country?

Miraniyatin, Mumbai

1st December 2015

Comment

Hi Miraniyatin,
The ''housing for all'' mission will only succeed if the government offers sufficient support to the realty sector. The Public Private Partnership model should be encouraged first. Measures should be taken to remove problems, when it comes to land clearances, along with a control on prices.

Dharmaja Patel, Mumbai

1st December 2015

But it is only possible if the stalled key bills like the real estate regulation and development bill, single window clearance bill and GST in the Parliament will be passed. If the government streamlines these bills and provides land at affordable rates, then private developers can easily launch projects and fulfill the housing demand across country.

Balwinder Singh,

1st December 2015

If you will ask to me i will say "Yes"'. The numbers of offers and discounts in the festive season makes it an ideal time to invest in properties. Buyers will be able to get best deals at this point of time. At the same time, RBI gave a more-than-expected rate cut of 50 bps ahead of the festive season and also increased the loan portfolio for buyers looking for homes in the range of Rs 30 to 50 lakh.

Balwinder Singh,

1st December 2015

Comment

Right Balwinder,
Even the buyers have shown the remarkable response more than expected this time around. Bookings during the festive season have witnessed far better results compared to the previous years, demonstrating the recovery mode of the real estate sector after years of slowdown.

Dharmaja Patel, Mumbai

1st December 2015