According to the 2011 census, the Mumbai Metropolitan Region has over 23.5 million people. To house this population on the ground floor, assuming a household size of 4 and dwelling units of 900 sq ft per family which are laid wall to wall, we would need 121,384 acres of contiguous land.
It may be momentary down because of rising interest rate, macro economic hue, affordability issues borne out of demand-supply mismatch and overall market sentiments, but forecast for the residential real estate is definitely robust.
Battling huge vacancies, piling inventories and lacklustre rentals, the Indian real estate is looking forward to retail FDI as a savior, expecting a windfall following the entry of global giants looking for more retail space for expansion.
With FDI now permitted for multi-brand retailing in India, global retail giants are now zeroing in on India.
For buyers as industry stakeholders, the biggest advantage that the Model Real Estate Regulation Act offers is that there will be an arbitratory body available to attend to grievances and redressals.
People familiar with Mumbai’s residential market might be aware about the special provisions developers make in their upcoming projects; swimming pool, sports arena, theme gardens, podium park and much more.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
It has been quite some time that Mamata Banerjee took over the rein of West Bengal after 34 long years of Left Front rule.
Kolkata-headquartered real estate major Ambuja Realty on Thursday, September 20, acquired the RMZ block at Ecospace Business Park in Rajarhat satellite township on the Eastern fringe of the city.
Yes, it is possible to negotiate with residential property developers. As home sales continue to look sluggish in many parts of the country, developers are becoming more open to a bit of creativity on their stated terms.