Ravi Karandeekar's Pune Real Estate Market News Blog: mumbai real estate

Showing posts with label mumbai real estate. Show all posts

Friday, December 4, 2009

Realtors move to metro peripheries for villa projects

However, Kumar Builders launch "Kumar Couture", 24 sky-villas, in Worli, Mumbai!

With signs of economic revival clearly becoming visible, real estate developers in metros are moving away from prime locations to the peripheries for developing villa projects in the form of row-houses, bungalows and villa-type apartments. According to industry experts, this is being done to meet the growing demand for such housing.

Mumbai-Pune real estate developer, ( who has joined the IPO bandwagon,) Kumar Urban Development has launched Sky Villas project which will be developed near the Worli Sea Link.

A 270-m high tower called Kumar Couture will have villas of 8,000 square feet carpet area each. A total of 24 villas are being accommodated in the project. Lalit Kumar Jain, its chairman and managing director said, "“The height between each villa will be equivalent to four floors of normal structures. We are offering triplexes and duplexes."

To read more, please, visit Financial Express

November 2009 - Top 10 popular blogs on Ravi Karandeekar's Pune Real Estate Market News Blog

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Wednesday, September 30, 2009

Visit MCHI's Property Expo 2009 - 1st to 4th October 2009 at Bandra Kurla Complex, Mumbai

Maharashtra Chamber of Housing Industry and State Bank of India Present: Property 2009, 15th Real Estate and Housing Finance Exhibition:

Click to Enlarge

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Tuesday, September 1, 2009

Breach Candy flat sold for Rs 1 lakh per square feet?

Brokers claim that's the amount Pune businessman Vijay Shirke paid for 2,400 sq-ft house, making it Mumbai's costliest deal, but he says it's not true..

Pune businessman Vijay Shirke is said to have bought the most expensive house in Mumbai after paying Rs 1 lakh per sq ft for a 2,400 sq ft flat in Sea Face Park, Bhulabhai Desai Road.

According to a South Mumbai broker, the deal took place in June while the real estate market was still suffering from the economic slowdown.

'The flat was sold at Rs 1 lakh per sq ft,' he said. Another broker from the area also confirmed this. But Shirke, while confirming that he's bought the flat, denied the rumoured price.

'I bought the flat for less than Rs 1 lakh per sq ft for nearly Rs 90,000 per sq ft actually,' he said.

To read more, please, visit mid-day.com

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Saturday, August 15, 2009

Mumbai's realtors claim this is the best time to invest in residential apartments as prices have touched the bottom of the curve

"Realty prices will only rise again and the best time to invest is between September and December," Niranjan Hiranandani, Managing Director, Hiranandani Group of Companies.

"The real estate sector is a tortoise but a stable tortoise," Abhisheck Lodha, Director, Lodha Group.

"We are banking on the around 60% of the population of Mumbai that do not own their own homes and who are looking out for their first homes," Amit Bhagat, CEO and managing partner ASK Property Investment Advisors.

Mumbai's realtors were addressing a real estate meet. It was organised by Times Property, which launched its annual property event that would come off from August 17 to 24.
To read more, please, visit - "Best time to buy real estate"

You already know what Pune builders say about property rates!

"Given the upswing in market revival we feel the rates may go up during the festival season beginning with Ganesh Chaturti," says Anuj Bhandari, Chairman Exhibition Committee CREDAI Pune.

What say you?

"Thanks, Swine flu!"

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Sunday, May 24, 2009

Tata Shubh Griha, Nano Homes between Rs 3.9 to Rs 6.7 lakh at Boisar Mumbai, last date for the submission of the application form - May 28, 2009

Where is Boisar?

Boisar is located 45 kilometers north of Virar and 102 kilometers from Churchgate, on the Western Railway line of Mumbai Suburban Railway.

To reach Boisar, one can catch Shuttle/MEMU trains from Virar.

Have a look at Mumbai Suburban Rail Network Map.

Long Distance trains also stop.

By Road, it can be reached from National Highway NH-8, 22 kilometres (14 mi) off from Chilhar Phata.

There are regular state transport buses from Palghar, Thane, Bhiwandi and Wada. Read More

Tata Shubh Griha is conveniently located within 5 mins of Boisar railway station & MIDC.

Bookings will be accepted till May 28 along with the initial booking amount of Rs 10,000 through a bank pay-order at:

1) Tata Housing Regional Office

City Ice Building,
2A, 2nd floor,
298, Perin Nariman Street,
Fort, Mumbai 400 001
Tel: 022 - 6661 4500

2) Shubh Griha

Site Office
Near Tarapur Industrial Area (MIDC), Boisar.

Email:
shubhgriha@tatahousing.com
Website:
www.shubhgriha.com
www.tatahousing.com

Home loans for Shubh Griha:

Tata Housing Development Company has partnered with Micro Housing Finance Corporation (MHFC) to provide easy housing finance to the lower income group for Shubh Griha.

MHFC has set up a stall at Shubh Griha site at Boisar in order to assist consumers in the procedure.

The MHFC loans will be long-term micro mortgages for need-based housing.

MHFC would be flexible in its documentation requirements and will make its interest rates affordable.
Business Standard

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6) 20008: most popular posts

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Thursday, May 14, 2009

Tata Shubh Griha at Boisar - Tatas' nano housing plan takes off in style

Tata Group has sold around 3,500 application forms for its low-cost housing project, Shubh Griha near Mumbai, in the first two days of booking, three-and-a-half times the number of apartments the company is planning to build under the project, a company executive said.

The pricing of the project has taken many by surprise. Its Shubh Griha website (www.shubhgriha.com) has received 15 lakh hits in four days since announcement of the project.

This includes 6.7 lakh hits from the US and 3.3 lakh hits from India, as per the executive.
To read more, please, visit - -The Economic Times

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4) January 2009: most popular posts

5) 20008: most popular posts

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Tuesday, May 12, 2009

Nano-dreams: Raghavendra Kamath

Jamshedpur gave birth to Telco (now Tata Motors) which has just launched the low-cost Nano; Jamshedpur, according to the 35-year old Tata Housing Development Company Managing Director Brotin Banerjee, is what inspired Tata Housing to launch its Shubh Griha low-cost housing project in Mumbai.

Banerjee, who was born and brought up in Jharkhand and has worked with the Tatas since 1998, says he liked the concept of Jamshedpur, which provided housing to thousands of employees working with Tata companies and others. So, he says, he wanted to try and replicate that model in other cities. ‘The Tatas’, he says, ‘have always worked with the common man in mind. I am just one of them”.
To red more, please, visit - Business-Standard

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3) February 2009: most popular posts

4) January 2009: most popular posts

5) 20008: most popular posts

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Monday, May 11, 2009

Tata Shubh Griha, Nano homes between Rs 3.9 to Rs 6.7 lakh at Boisar, Mumbai - booking forms available at following SBI branches from today, 11-5-09

Tata Shubh Griha, Boisar: 3 types of flats:

1) Type A- 1 RK Small - 218 Sq. Ft. Carpet Area
For Rs. 3,90,540

2) Type B- 1 RK Large - 281 Sq. Ft. Carpet Area
For Rs. 5,04,000

3) Type C- 1 BHK - 373 Sq. Ft. Carpet Area
For Rs. 6,74,250

Note: The Stamp duty, registration & other charges (like electricity meter charges, water meter charges, other deposits etc) will be charged as per actuals.

Payment Plan:

1) On application: Rs. 10,000 - by May 15. 2009

2) On allotment letter: by June 29, 2009 -

1) Type A- 1 RK Small - Rs. 29,054

2) Type B- 1 RK Large - Rs. 40,400

3) Type C- 1 BHK - Rs. 57,425

Click for the complete payment plan!

Rs.200 for the booking form:

Boisar:

Tarapur Industrial Estate Branch,
Khodaram Baug, Tarapur Road,
Boisar (W) - 401 501

Virar:

Sankalp, C.S. Marg,
Virar (W), Thane (W)
District Thane - 401 303

Vasai:

Navghar Bassein Road Branch,
Vasai (W),
District Thane - 401 202

Palghar:

Palghar Branch, Mahim Road,
District Thane - 401 404

Nallasopara:

Nallasopara (W) Branch,
Bharati Apartment, Bldg 'A',
Plot No. B.S. No. 106, Near Patankar Park,
Nallasopara (W),
Taluka Vasai, District Thane - 401 203

Dahanu Road:

Dahanu Road Branch,
Post Bag No. 1,
Dahanu Road, Thane - 401 602

Thane:

Thane Main Branch,
Agyari Cross Lane,
Tembhi Naka, Thane - 400 601

Borivali (W):

Mandpeshwar Road Branch,
Mangesh Apt, 1st floor,
S.V.P. Road, Borivali (W) - 400 092

Andheri (East):

Andheri East Branch,
Vrindavan, M.V. Road,
Andheri (East) - 400 069

In addition forms will be available at:

Tata Housing Development Company Ltd.
Regional Office-West India
City Ice Building,
2A, 2nd floor,
298, Perin Nariman Street,
Fort, Mumbai 400 001

Tata Housing, a subsidiary of Tata Sons, launches "Shubh Griha", low-budget housing between Rs 3.9 to Rs 6.7 lakh at Boisar — north of Mumbai

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4) January 2009: most popular posts

5) 20008: most popular posts

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Thursday, May 7, 2009

Tata Housing, a subsidiary of Tata Sons, launches "Shubh Griha", low-budget housing between Rs 3.9 to Rs 6.7 lakh at Boisar — north of Mumbai

(Rs 3.9 to Rs 6.7 lakh + stamp duty)

Bookings open on this Saturday!

2.8 kms from the Boisar railway station this 67 acres, Rs 100 crore township will have 1,000 flats:

Amenities: hospital, school, post office, market, community hall, play garden and open landscaped area

Possession in 2011:

View Tata Housing's Shubha Griha at Boisar in a larger map

After the successful launch of the world's cheapest car ‑ the Nano, the Tata Group launches not so cheap homes!

"ground plus two format"

283 sq ft, 360 sq ft and 465 sq ft, super built up area (SBUA)

Actual carpet area would be 20% to 25% less!

Property rate Rs 1,380 per sq. ft. at Boisar, 98 km from south Mumbai and six stations after Virar on the western line!

Application form for Rs 200!

To know more, please, visit:

1) Tatas bring Nano touch to Mumbai's realty:

In fact, the tiniest flat will be smaller than the free tenements offered to authorised slum dwellers under the Slum Redevelopment Scheme in Mumbai. Each slum family is entitled to a 269 sq ft (carpet area) tenement.

"We are looking at first-time buyers earning a steady Rs 3 lakh to 5 lakh a year. Hordes of people travel daily between Mumbai and Boisar to work and this will be a good opportunity for them to shift to Boisar instead of living in rented accommodation,'' said Brotin Banerjee, MD and CEO of Tata Housing. Read More

2) Booking Process:

Applicants can purchase application form costing Rs 200 from select SBI branches across Mumbai.

The bookings should be made with an initial booking amount of Rs. 10,000 at the bank branches.

The first list and the waiting list will be declared after scrutiny of applications. The allottees would be intimated by Tata Housing along with payment schedule. Read More

3) Booking closes in about two weeks?

When asked how the company would be able to keep costs low, it said their designs were innovative and that it had ‘some trade secrets’.

Also, the Tata Housing group does not entirely own the land that it is building the township on. Here’s the deal: the group has tied up with the land owner and will work on a revenue-sharing model.

The group has struck an alliance with the State Bank of India and the bookings for the first thousand apartments starts on Saturday and closes in about two weeks. After that, there will be an allotment through a lottery system. Read More

4) Shubh Griha in Delhi and Bangalore:

Interestingly, a couple of private builders are already selling homes at similar rates in Boisar.

Mr Banerjee, however, said that the Tata Housing project would receive a better response as it offers better amenities.

He later told ET, “The plan is to later have Shubh Griha projects in Bangalore and Delhi over the next few months.

This will depend on factors like how quickly the land is obtained.” Read More

Dear Ratan Tata, focus on your core businesses!

This news reminded me an articel written by R Jagannathan in DNA Money. It's head line was "Why business houses will shrink".

Read what Mr. Jagannathan says and you will agree with me that Tatas should focus on their core business and let the property buyers live on the mercy of Indian real estate developers! (Comments Policy)

Jagannathan says:

The oncoming recession is the beginning of the end of Indian business houses as we know them. Used as they are to conglomerate thinking, the global meltdown and weak market for equity financing will force them to focus on their core businesses and dump the rest.

In many ways, the Tatas, Birlas, Ambanis and Ruias of the world are T-Rexes. They belong to a bygone era of business and have no place in the future. I don't mean their companies won't exist; just that they can't exist as business groups.

They are still around only because of India's imperfections, where growth has been facilitated by cronyism, corruption, and easy money -- usually somebody else's. No Indian business has grown with its own money beyond a certain size. It is always someone else's money, someone else's risk finance. Read More

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If you are visiting my "Ravi Karandeekar's Pune Real Estate Market News Blog" for the first time, please, visit these popular posts to get the feel of the topics and discussion we enjoy on this blog.

1) April 2009: most popular posts

2) March 2009: most popular posts

3) February 2009: most popular posts

4) January 2009: most popular posts

5) 20008: most popular posts

Tuesday, April 14, 2009

Builders tread cautiously on realty street

It is not about Pune builders!

Some of the tastefully done-up stalls at the property exhibition at the Bandra-Kurla Complex (BKC) are as large as one-bedroom apartments. Smart marketing girls move around with glazed brochures, pitching upcoming residential projects to prospective home buyers.

In the adjoining seminar hall, there is much bonhomie among the assembled builders, gorging on a lavish vegetarian spread. To many, it may seem to be business as usual for Mumbais property czars. But behind the broad smiles is a growing concern about the stormy days ahead.

The construction industry is suddenly down in the dumps and builders are still unwilling to say when they will relent and reduce prices. But across the city, massive cranes, which were once swinging at frenzied pace, have slowed down considerably.

Developers have drastically cut down work on their under-construction projects. For instance, if a builder was laying one slab a month, the pace has slowed down to one slab in three months. When flats are no longer selling as briskly as they used to, there is little point in speeding up construction work, a leading builder confessed privately to this newspaper recently.

Some of them are also believed to have postponed launching new projects. Banks and financial institutions have also turned on the screws. A couple of years ago, they stopped lending money to builders for land acquisition. Now, even loans for construction has virtually come to a halt since the past three months, industry sources said. Banks have become extremely choosy about lending money to builders, they said.
To read more, please, visit - Nauzer Bharucha - The Times of India

Isn't it about Pune builders too?

What's going on in Mumbai real estate market? Slowing down construction, postponing project launches, etc. Have seen it happening in Pune real estate market? Please, share your observations in the comments. (Comments Policy),

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Thanks for visiting! On this blog we talk about latest happenings in Pune real estate market. We means, around 1000 readers and I, Ravi Karandeekar. We have free, frank, informative, hot, angry and some times meaningless discussion on this blog. To get the feel, please, visit these 2 posts and join the conversation by subscribing to this blog or to my Google group.

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Saturday, February 28, 2009

Paranjape Schemes' Forest Trails - beautiful bungalow in a world class township at a price that would fetch you small flat in Mumbai!

Vile Parle to Chandani Chowk:

"It seems Mr. Paranjape thinks that Pune lies on outskirts of California. I would rather buy a bungalow at San Francisco at this price rather than at Bhugaon!," Parimal said on my Ravi Karandeekar's Pune Real Estate Blog.

Mr. Anonymous said, "I lives in Japan & in this amount any body can purchase a good house in a place which is just 20 mins local train distance from Tokyo Station with infrastructure in the best in the world."

What about "Aamchi Mumbai" and Mumabi Pune Expressway? All my dear readers in Mumbai, (My maximum readers are in Pune, Mumbai, San Francisco), what is your take on driving down in 2 hours to your own weekend bungalow in Forest Trails at Bhugaon near Chandani Chowk, Pune, developed by Paranjape of Vile Parle? Please, share your views in the comments. (Comments Policy), You also have an option of getting in touch with Vinay Deshpande! How about it?

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Sunday, December 21, 2008

MMRDA plan to construct rental flats, to replace slums in Mumbai, hits a realty wall

With the developers treading carefully during the ongoing slump in the realty market, the Mumbai Metropolitan Region Development Authority’s (MMRDA) plan to construct rental tenements to replace slums in the city is taking a “marginal” hit.

Target - 1 lakh rental flats by November-December 2009

3 proposals of 75,000 flats sanctioned:

1) Tiwri Village near the Western Express Highway at Vasai - 35,000 rental flats on 50 acre - Dhanashree Developers

2) Dombivali - 35,000 rental flats - Nirmal Group

3) Karjat - 6,000 rental flats - Tanaji Malusare City (TMC), MMRDA joint venture

MMRDA Rental Housing Scheme:

The project known as Rental Housing Scheme aims at providing transit accommodation to people until they find a permanent one.

You will get a 160 sq ft residential unit on a leave and licence basis for a period which will be decided by MMRDA.

Monthly charges - depends upon the location, residential unit, cost of construction, market conditions and other expenses.

Flats to MMRDA in lieu of commercial space and premiums:

The total FSI of 4, including 25 per cent FSI for commercial use and 75 per cent for residential use, is allowed as per regulations for the schemes.

The intending developers will construct and hand over the rental houses free of cost to the MMRDA in lieu of sale rights of commercial area and premium offered to it.

Real estate slowdown - worried developers:

The major worry of the developers is the sale of flats that are built on the remaining FSI. There is an overall slowdown in the market. It had an impact on some developers. Talking specifically about the Rental Housing scheme, the developers are worried if this trend would continue. In that case, the developers may find it difficult to sell the flats that they will construct in lieu of tenements.
To read more, please, visit - Express India

Pune Municipal Corporation to conduct a housing survey to review the housing issues in the city

Wednesday, December 10, 2008

Developers are now reworking their strategy to target middle-class clients looking for smaller houses outside BMC limits

The realty market is stagnant and work on several under-construction residential projects has slowed down, but several builders claim brisk sales in smaller places like Thane, Virar, Panvel and even Nashik.

Runwal Group:
"We were not seeing any great demand for premium flats but our study showed a good demand for budget housing,'' he said. "Housing loans below Rs 20 lakh being in the priority sector means consumers get a double benefit in terms of a reduced interest rate as well as a more affordable pricing,'' said Sandeep Runwal, Runwal Group.

Keystone:
"About 60% of the city's population earns less than Rs 2-Rs 3 lakh a year. There is no housing project for them,'' said Boman Irani of Keystone.

Akruti:
Another developer, Akruti, has changed its plan to set up a commercial building on Thane's Pokhran Road No 1; it has decided on a budget residential project with compact houses.

The developer will soon launch its Just Perfect Homes project with 1-BHK and 2-BHK flats, worth Rs 21 to Rs 25 lakh, in Thane.

PRA Realty:
The US-based PRA Realty is for the first time tapping the market for affordable housing in Pune, Nagpur and Nashik.

"The trend earlier was high-end construction. But developers are downsizing projects now,'' PRA managing director Rustom Bharucha said. PRA's proposed housing project on a 130-acre plot in Nagpur is looking at selling 1-BHK and 1.5-BHK flats priced between Rs 10 lakh and Rs 12.5 lakh.

TMC:
Tanaji Malusare City, a Matheran Realty project, claimed to have received 66,000 applications early this year for its phase-one sale of 3,000 units in Karjat. About 40% of these are 300-sq-ft flats selling for Rs 3 lakh each.

"Unexplored'' territory:

The salaried class found itself pushed farther away from the city with housing becoming virtually unaffordable during the boom. But, now with negligible sales and the market facing a liquidity crunch, industry experts say many builders are looking at this previous "unexplored'' territory.

It's possible!

A report on low-income housing in urban India, prepared by management consulting and merchant banking group Monitor Group, says it is possible to build for lower-middle class urban customers even with the current land prices and construction rates.

Within an hour of the city centre:

"Private-sector developers are building housing at Rs 800 to Rs 1,000 a sq ft in vibrant neighbourhoods within an hour of the city centre in most metros and towns. The smallest units they are currently building are 450-sq-ft to 500-sq-ft.

Flat for Rs. 2.50 to 3.20 lakh:

But a number of developers in cities like Ahmedabad, Jaipur, Mumbai, Hyderabad, Kolkata, Kolhapur and Vizag confirmed they could build smaller flats-250-350-sq-ft apartments-at Rs 2.50 lakh to Rs 3.20 lakh,'' the report, prepared for the National Housing Bank with support from the World Bank in 2007, pointed out.

Low-income housing in Mumbai:

Developers, however, said the concept of low-income housing would not work in Mumbai. "Land is expensive, cost of construction is high and the floor-space index is capped,'' developer Subodh Runwal said. "The definition of a low-income house in Mumbai is a 300-sq-ft flat that costs less than Rs 5 lakh. Developers will not step into this segment unless they are assured of a reasonable margin,'' he added.

Housing expert Chandrashekhar Prabhu said it was not the job of private developers to provide low-cost housing. "All over the world, including the US, it's the local authorities who provide for such housing,'' he said. In realty, smaller is better

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Friday, December 4, 2009

However, Kumar Builders launch "Kumar Couture", 24 sky-villas, in Worli, Mumbai!

Related Story:

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Wednesday, September 30, 2009

Maharashtra Chamber of Housing Industry and State Bank of India Present: Property 2009, 15th Real Estate and Housing Finance Exhibition:

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Tuesday, September 1, 2009

Brokers claim that's the amount Pune businessman Vijay Shirke paid for 2,400 sq-ft house, making it Mumbai's costliest deal, but he says it's not true..

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Saturday, August 15, 2009

You already know what Pune builders say about property rates!

What say you?

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Sunday, May 24, 2009

Where is Boisar?

Home loans for Shubh Griha:

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Thursday, May 14, 2009

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Tuesday, May 12, 2009

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Monday, May 11, 2009

Tata Shubh Griha, Boisar: 3 types of flats:

Payment Plan:

Rs.200 for the booking form:

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Thursday, May 7, 2009

(Rs 3.9 to Rs 6.7 lakh + stamp duty)

Bookings open on this Saturday!

2.8 kms from the Boisar railway station this 67 acres, Rs 100 crore township will have 1,000 flats:

Amenities: hospital, school, post office, market, community hall, play garden and open landscaped area

Possession in 2011:

After the successful launch of the world's cheapest car ‑ the Nano, the Tata Group launches not so cheap homes!

"ground plus two format"

283 sq ft, 360 sq ft and 465 sq ft, super built up area (SBUA)

Actual carpet area would be 20% to 25% less!

Property rate Rs 1,380 per sq. ft. at Boisar, 98 km from south Mumbai and six stations after Virar on the western line!

Application form for Rs 200!

To know more, please, visit:

2) Booking Process:

3) Booking closes in about two weeks?

4) Shubh Griha in Delhi and Bangalore:

Dear Ratan Tata, focus on your core businesses!

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Tuesday, April 14, 2009

It is not about Pune builders!

Isn't it about Pune builders too?

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Saturday, February 28, 2009

Vile Parle to Chandani Chowk:

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Sunday, December 21, 2008

With the developers treading carefully during the ongoing slump in the realty market, the Mumbai Metropolitan Region Development Authority’s (MMRDA) plan to construct rental tenements to replace slums in the city is taking a “marginal” hit.

Target - 1 lakh rental flats by November-December 2009

3 proposals of 75,000 flats sanctioned:

MMRDA Rental Housing Scheme:

Flats to MMRDA in lieu of commercial space and premiums:

Real estate slowdown - worried developers:

Related Story:

Wednesday, December 10, 2008

The realty market is stagnant and work on several under-construction residential projects has slowed down, but several builders claim brisk sales in smaller places like Thane, Virar, Panvel and even Nashik.

"Unexplored'' territory: