Q:
This move would ensure lower lending rates for new home loan borrowers and companies with working capital loans.
Latest Answer: Yes indeed you need to have an insurance when you buy a property. But it need not be a home insurance always. You can have a term insurance instead which will have a high cover with less premium. By doing this you will cover the home loan as well as your loan amount will be covered.
Q:
It is true that the proposed Land Acquisition Bill would not impact the real estate sector in the country if handled in the right perspective and right manner.
Latest Answer: Hey friends......
It is come to hear that the Housing Ministry has accepted a proposal of a Parliamentary panel's recommendation on the Real Estate Bill to make the provisions stricter and increase the 50% threshold but not lower it. The Housing and Urban Poverty Alleviation ministry has also accepted all 38 recommendations made by the 21-member Rajya Sabha select committee which submitted its report last week.
Q:
What is the expected Growth rate of India Real estate market? What is the contribution of Tier 1 metropolitan?
Latest Answer: Good question Ketal,
The construction development sector, including townships, housing, built-up infrastructure and construction-development projects garnered total foreign direct investment worth US$ 23131.64 million in the period April 2000–February 2014.
Residential sector still has huge potential for growth. With housing requirements growing across cities and funds investing in the asset class primarily in the form of NCDs providing fixed returns, investments in the right project have the potential to yield healthy returns.
Q:
Construction work has started or sill in pre-launch phase.....
Latest Answer: Well Anuj,
Developed infrastructure and transportation facilities are boosting the rates of properties in Bhiwandi. At the same time, basic amenities like water and electricity supply have improved a lot in the city influencing the market of Bhiwandi Properties. Apart from that, it has several reputed educational institutes, healthcare centres, etc. making it an ideal place to own a property.
Q:
Hello, are there units available in this project and at what prices?
Latest Answer: Hello Ravi,
Balalji paradise is really nice project and most important located at dhayari, which is nearer to the most important places chinchwad and chakan, distance is 1hour only. And The Units available are 1bhk 689sq.ft - 29 lac, and 2bhk 961sq.ft - near to 40 lac. And also look of apartment is too good, modular all things are provided by them. And mainly the project is highly safety providing with CCTV and highly framed structure cameras. And also basic life style amenities like meditation space, car parking, round clock security, gymnasium etc. And also the loan facilities also available.
Q:
Can I know how is the reputation of the builder as I am planning to book a flat. Is anybody on the same page?
Latest Answer: Hi,
I am planning to buy a 1 or 2 BHK flat in this project for which I have to apply for a home loan. Can somebody tell me which are the banks providing loans so that I can book at the earliest in this project.
Q:
Want to know when the builder give the possession of the same? How is the builders reputation since I have plans of buying a flat in this project.
Latest Answer: Oh Ok. Thats good. May I know what are the flats available in this project. Is there any water issues?
Q:
My client is Indian with British Pass port. He would like to buy residential and commercial property in Mumbai. Cost of Residential property is about 5 Cr. and commercial will also be in the same range or little more than that. Are there any restrictions or additional formalities for buying and registration.
Latest Answer: Except agricultural land, a person of Indian origin (PIO) can buy property in India. All the payments should be made through money held in NRE NRO accounts or through normal banking channels.
Q:
When is the completion of this project??
Latest Answer: Yes the project has been duly approved by TMC and comes under TMC limits. Got in touch with executive and mentioned that the apartments have sufficient water to cater to the daily requirements. The flats have corporation connection as well as borewater connection which is more than enough to meet the daily requirements. The bores are dug upto a 800 feet below the ground level.
Q:
Tilak Nagar has overall 18 residential buildings having no occupation certificate.
Latest Answer: Mr Praveen,
Heard that only handful of societies have got the occupation certificate. Even some buildings and societies have also managed to get water and power connections without possessing an occupancy certificate.
Q:
I heard that real estate sector scenario looks bleak in Navi Mumbai. Is the statement true?
Latest Answer: because of proposed International airport the price rates of this area increasing very fast, and this is the main reason behind all unsold flats and properties.
Q:
Hi, i'm looking to buy a property and getting to know that a similar property by a reputed builder is very costly in comparision to the property by an oridinarry builder? so i want to kow if i m geeting a ready to move in property, should i buy a property by reputed builder and pay the premium?
Latest Answer: The quality and quantity of amenities makes a difference between an established player and normal one. reputed builder will always put the best material and since he has a reputation he will always deliver the best product.
Q:
Hi, i m looking to invest upto 30 lakh rupees in coming 6 months. which is a better place to invest and what are the upcoming projects?
Latest Answer: Even I agree with Sandeep.. The way Kharghar is shaping up is way beyond words. I am sure you can expect a good price appreciation in few years which will proportionally give you good returns.. Investing here will be beneficial..
Q:
Is it the good time to invest in mumbai and its suburbs. what are the good affordable housing options in mumbai and it suburbs.
Latest Answer: I agree with you all but Titwala which is a small town located near Kalyan, Thane is fast growing as an affordable real estate destination. The locality offers 1 BHK apartments at a minimal cost of Rs 17 lakh.
The area has witnessed 100% price appreciation in the last three years and the apartments in Titwala today cost double at what they were launched initially. Still, they are in an affordable range.
Also, investors as well as seekers are queuing up to the area, who can not afford properties in neighbouring areas like Bhandup, Kalyan, Vikhroli, etc.
Q:
When will the metro in Mumbai in Versova-Andheri-Ghatkopar route going to open up? Please throw some details.
Latest Answer: Hi Folks,
Here, i brought a good news for you all. MMRDA sanctions Rs 35400 cr for Mumbai Metro mega expansion. They have also Sanctioned this fund for the new areas. The new areas for which money has been sanctioned are Dahisar - Charkop - Bandra-Mankhurd Metro - 2 corridor, Wadala - Ghatkopar -T hane - Kasarvadavali Metro - 4 via Wadala GPO and R.A.Kidwai Marg, Dahisar East - Andheri East - Bandra East Metro - 5 corridor and Jogeshwari - Vikhroli Link Road Metro - 6 corridor.
Q:
I heard housing regulatory authority is formed to provide relief to flat purchasers against malpractices by developers. But How it will help a flat buyers?
Latest Answer: Housing regulatory authority to be headed by a retired government official of the rank of principal secretary and will include two experts. It will have powers to impose a fine of up to Rs 1 crore on offenders. Under new Act Developers will have to register with the authority and it will be mandatory for issuing advertisements for sale or transfer of flats.
Q:
We are paying our property tax in time but there are number of property owners who are enjoying benefits but not yet paid their property tax. BMC is not taking any action against them. The BMC said they will collect all the pending tax from the defaulters. But how and when?
Latest Answer: The reason for such high outstanding amount is that the owners are legally contesting tax bills of the last many years.
Q:
Cidco has received astronomical rates for its plot at Nerul Mumbai. I came to know they are planning to sell more properties or plots. Which properties are they planning to sell?
Latest Answer: They have open the bid for 10 plots that are located near Ghansoli, Kharghar and Panvel. They are planning to give one of the plot for commercial purpose and two for residential construction.
Q:
Is it a true news that an apartment in Mumbai is sold for crores? Any specialty about the apartment?
Latest Answer: I think the infrastructure, connectivity and entertainment from Mahalakshmi is good. Mainly the presence of Mahalakshmi race course and a golf courses added advantage to the realty market. The 2,710 sq.ft apartment is located at Jacob Circle, Mahalaxmi. The apartments was sold at a cost of Rs 10.50 crores which includes two parking and offers modern amenities.
Q:
What was the reason for the sudden demolition in a flat in Juhu Mumbai?
Latest Answer: Many demolition drive took place in the city on based of illegal constructions or violating FSI. Same happened in the flat taking extra floor space like ponds and balcony areas. So BMC demolished the extra spaces including lily ponds and deck areas in that flat.
Q:
I heard that the property rates in Mumbai has come down? What percent of property rates have come down?
Latest Answer: According to sources, it is found that the property rates have gone down drastically by 20 percent. The city developers and the builders are in huge loss and they are clearing all the un-sold and un-used properties by giving discounts.
Q:
I heard that fake complaint was lodge against the slum dwellers. Who has lodged fake complaints against the slum dweller? How the authority came to know about the situation?
Latest Answer: In the BEST committee meeting the truth came into light that this was a fake complaint lodged by one of the political committee member who wanted to take action against the slum dwellers.
Q:
Is it so that the Mumbai is now known as one of the expensive city in India?
Latest Answer: According to recent survey, Mumbai has scored 2 in the list of the high cost of living.The inflation spirals upwards, the price of the house and all other miscellaneous things are getting expensive everyday but the salary remains the same.
Q:
In some of the parts of Mumbai city pay and park was a success then what happen now. Why the scheme proved to be unsuccessful in the rest of the parts of Mumbai?
Latest Answer: The reason is that there is no parking board in the parking zone, securities are not in their proper uniform, there is no fixed rate for parking and even in the receipts the parking rates are not mentioned.
Q:
Can the municipal corporation solve the water shortage problem in Mumbai?
Latest Answer: Brihanmumbai Municipal Corporation has planned to take up Hydraulic department which will solve the present water system.
Q:
Today while reading the real estate column I came across a word that is matchbox flat. What does it mean?
Latest Answer: Actually the term has been used by the buyers in Mumbai. A small 1bhk flat is known as a match box flat which costs around Rs 50lakhs.
Q:
Can anyone tell me about the new up coming project by Lodha Developers?
Latest Answer: Floor Plan 4 BHK Villa: 3321 sq-ft carpet area 3 BHK Sky Garden Residence: 2525 sq-ft. carpet area 3 BHK Terrace Residence: 1596 sq-ft carpet area 2 BHK Terrace Residence: 959 sq-ft carpet area.
This project is located on Kalyan Shil Road in Dombivali east Less than an hour drive from South Mumbai Dombivali less than 15 minutes Vashi less than 30 minutes Thane less than 30 minutes
Q:
What is the reason that the builder have to pay a fine?
Latest Answer: Recently Bombay High Court upheld a government order to fine the builders as they have destroyed almost 60 percent of the mangrove by dumping construction debris.
Q:
Why they have demolishing the huts? How many huts they have demolished?
Latest Answer: Mumbai Metropolitan Region Development Authority demolished the hut because those huts were blocking the way of Sahar Elevated Road project. The authority claims that they have altogether demolished around 600 huts. 100 huts in Sambhaji nagar, 150 huts in Ambedkar nagar and 350 huts in Bamanwada.
Q:
I heard that Mumbai has launched new portal where the residents can lodge complaints regarding the civic problems. What was the response of the portal? Is it a user friendly website?
Latest Answer: The website did not get any response from the public, the reason is that the website can be used by the people who are having Android cell can operate the system and citizens without an Android cell can only write feedback on the website.
Q:
Is it true that the real estate has become a capital driven market?
Latest Answer: Yes, in-spite of poor sale and falling property registration number the price of the property is not getting reduced this is just because of Indian Real Estate which is completely capital driven.
Q:
Will the Brihanmumbai Municipal Corporation take the initiative to clean the Mithi river?
Latest Answer: As far as I know the BMC was given orders to clean up the river within a span of ten days. The court has ordered the Mumbai Metropolitan Region Development Authority to construct walls around the river.
Q:
Who is going to construct the new sewage plant in Mumbai?
Latest Answer: The bid has already started and at present six companies have shown interest to take up the project.
Q:
Is it true that the Housing Development and Infrastructure have sold a plot at a loss of crores?
Latest Answer: Yes, even I heard that the Housing Development and Infrastructure has sold a plot for Rs 29 crores which they bought for Rs 115 crores.
Q:
What decision have been taken by the minister regarding the uniform power tariff in Mumbai?
Latest Answer: The Union power minister has put the project on halt as it is not possible to have a uniform power structure in Mumbai.
Q:
Why are the interest rates getting hiked every now and then? What are the loan borrowers going to do now?
Latest Answer: According to experts, due to the availability of affordable housing the demand for finance is also increasing. The loan borrowers are getting pressurized because of the hike in rate of interest.
Q:
The width of the bridge is narrow for which commutes are facing lot of trouble. Can anyone update me about the Jogeshwarii-Vikhroli bridge?
Latest Answer: As far as my knowledge the bridge will be opened by January, the bridge is being widened to ease the traffic chaos.
Q:
I am thinking to buy a plot in City Manhattan which is promoted by Arrow Group. Probably I will construct a house or sell the land after 5 years. Please express your view.
Latest Answer: Hi ravi, anuj,
Any update on arrow city manhattan plots
And apartments?
Q:
SBI has come up with the new pre-payment loan. I want to know whether we have to pay penalty if we pre-pay the loan using our own funds
Latest Answer: No, the customers need not pay any penalty if they pre-pay the loan using their own funds.
Q:
I was thinking of buying a flat in Vrindavan Garden. Can anyone help me with some information about the project and the builder, as I do not stay in Mumbai but planning to shift?
Latest Answer: As per source, AMK Associates has good reputation as you are not from Mumbai, you can seek real estate or professionals help in knowing the market or real estate trend of Mumbai. As per news source, property price is high even though real estate is not so booming. I wish you all the best for safely moving to Mumbai city
Q:
What is the reason for Mumbai facing a down fall in real estate sector suddenly?
Latest Answer: It is said that the real estate sector in Mumbai has witnessed downfall because of the inflationary pressure, rise in property rates and increase in interest rates. It was expected that the sales would be better during Diwali but unfortunately from the beginning of the year the sector is facing downward trend.
Q:
Is it true that there will be no more malls built in Mumbai city? What is the reason?
Latest Answer: According to experts, the real estate situation is going ironic as the Indian builders are more open to build malls and are concentrating more on the FDI’s. The retailers are left worried about their future plans because of the big malls.
Q:
The builders of Mumbai are not paying the property taxes. What are the steps that the government of Mumbai is going to take against these builders?
Latest Answer: Recently the tax department has collected money from several builders and the builders have promised to give the balance amount within a week's time. The government has made it mandatory that every property buyer has to pay the tax along with the land price and if it is found that the builders are collecting service tax from the buyers then the builders will have to pay the money from their own pockets.
Q:
I am planning to invest for a 2BHK flat in Taloja Panchanad. What are the prospectus and is it advisable to invest for a 2BHK in Taloja?
Latest Answer: Thanks...I was planning for panchanand height...Any other good proects there
Q:
I have some queries, I have purchased a flat and NA plot on my father's name but my father has given the power of attorney to my wife. Can my wife sign for the documents for gift deeds or release deeds on behalf of my father as he is old and not able to go to the registrar office for the formalities? Can my wife sale the flat to any other person?
Latest Answer: Recently Supreme Court said that this type of transfer is not advisable. But again everything depends on what are the powers included in the power of attorney and if at all your father in not able to go to the office for the formalities then you should contact the Registrar for further informations.
Q:
I am looking for a 1BHK or 2BHK flat in Mumbai with a budget of 30 Lakhs. Which are the area were I will get a flat with such a budget? Please help me out.
Latest Answer: Hi, I can suggest a project in Mumbai with MICL group which has many projects in Mumbai
Please visit the link below to find out the more details
http://www.miclgroup.in/
Q:
There are fast development in metro cities for which the commercial activities are booming all over the city. Many residential areas are being used for commercial purpose. Is it right to change a residential area into a commercial area?
Latest Answer: It is never right to turn a residential area into commercial area. But, according to the law, service-based industries are allowed to operate from residential areas, unless until it affects other residential owners near to it. If any complain raises, then the service-based industries have to vacate the area.
Q:
I am planning to decorate my future home with the lastest designs and interiors. Can anyone suggest me some ideas as what will be in trend in future?
Latest Answer: Your home is where your heart is and who does not enjoy decking up their dream home. To add a pinch of serenity and liveliness to the walls, Wall Design brings here a fabulous collection of wall hanging metallic products.A slight modification in interior designing can do wonders. Today, we will look at home decor pieces that are in trend. Zuriac presents wide range of decoration products.
Q:
I heard that the JJ flyover is creating chaos in the lives of the people staying in Mumbai. What is the reason behind that?
Latest Answer: The resident of Mumbai were very excited when the construction of the flyover started as it could have reduced the traffic in the city. But the list of problems has just increased in the lives of the people of Mumbai and mainly those who are staying near the area of the flyover. The chaotic traffic, dust and manily the smoke coming out of the vehicles. The Brihanmumbai Municipal Corporation decided to appoint NGO to take care of the bridge even the civic body said that they are going to take the problem to the Court and the State Government. Based on the decision of the State Government the civic will favour the residents of the surroundings.
Q:
The builder says that his project is not yet launched as the NA approval is pending. The builder is assuring me that there will be no issue if I am booking a flat now. What is your advice?
Latest Answer: If the lawyer of the builder has given a clear title report regarding the project, then the NA approval is not that important for the time being. There is no problem if you are booking a flat by paying the advance charges.
Q:
I am a bachelor working in Mumbai. Few days back, I went to an apartment with my friends for rental query. The owner was very harsh and was rudely told he won't rent his property to bachelore. Is it correct or against law? Please advice.
Latest Answer: It all depends on the owner to keep bachelore as tenants or not. Some owners do not appreciate as their tenants because they feel bachelors come late at night and create nuisance in the housing society. It depends on any owner and it is not against law.
Q:
What is a pre approved property? Is there any legal hassle in owning a property in such project?
Latest Answer: Renowned builders in metro cities get pre approvals by the financial institutions and banks. Such properties are pre approved based on the builders' track record, their timely delivery, stage of construction, legal documents, title of the project, etc. The bank then declares all properties in the project to be “pre-approved”. You do not need to go for legal and technical checks in case of a “pre-approved” property.
