Real Estate may boast off to be the second largest economic activity and the largest employment provider in the economy, but when it comes to have a say in the policy making, they are found to be sulking.
If you are living as a tenant in Mumbai and seeking to buy a house this year, there seem to be quite a few confusions going around. While some of the reports and projected forecasts may give you a ray of hope, it would rather mislead you and your wait for a cheaper home may actually cost you to pay more in future.
Bombarded by the celebrity cricket icon as its brand ambassador, a gullible home buyer, Akshat Jain in Greater Noida, bought an apartment with the builder. However, his dreams of a sweet home had a crash landing when the developer defaulted and reports of conflict emerged between the developer and the cricketer over the non-payment of endorsement fee. Track2Realty probes whether celebrity brand ambassadors could be made liable if the builder fails with the promise.
Track2Realty Exclusive: A festive spirit only adds to the buyers’ sentiments in the property market. It can not be catalyst to new sales if the sentiment in general is low, as has been evident in the property market of Mumbai in the last 3-4 years due to general slowdown and other macroeconomic subdued indicators. However, if the sentiments are bullish a festive season can turn out to be catalyst to market revival as well. That is very much expected in the Mumbai property market this time around, thanks to the change in the overall outlook.
Today we are looking at a situation where real estate is isolated by the Government as an industry it does not trust. It could be because it is too segregated, too micro for a Government to take note about 5000 developers which are organized under CREDAI.
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
Newspaper advertisements and other branding collaterals of some of the real estate projects across the country attract the eye balls for what Indians have always aspired for—International living.
When Rishi Patil bought his first property in Mumbai a decade back, he followed the advice of family astrologer and deliberately waited for 7 months to book the flat on the day of Akshay Tritiya.
Maharashtra Chamber of Housing Industry has announced ‘Property 2011’ their 18th Real Estate and Housing Finance Exhibition to be held to be held in Mumbai from April 14-17, 2011.