As the second home phenomenon gains currency in the industrially-developed Mumbai-Pune- Nashik belt, real estate firm Eiffel Group has earmarked Rs 300 crore over the next three years to launch more projects in the region, referred to as the state’s ‘golden triangle’.
Crazeal, the India unit of group buying site Groupon has partnered with real estate developer RCL Homes to offer discount on purchase of a property in Karjat in Maharashtra.
Villas are a unique product because unlike in apartments, the buyer gets to own the piece land on which the villa is built.
Eiffel Group has announced to enter into an agreement with India Realty Excellence Fund (IREF) to develop one of its largest plotted development project at Karjat.
There has never been a real decline in the popularity of second homes in India. It certainly is a full-fledged real estate market segment in its own right. However, just as on the first home market, the demand for second homes is driven by the general economic climate. When the economy declines, all real estate segments decline with it. By the same coin, the demand for second homes always rises when people’s spending power increases.
The Maharashtra Chamber of Housing Industry’s (MCHI) 14th India Realty Expo 2010 has expressed satisfaction over the non resident Indians (NRIs) keen interest. The MCHI said in a statement that many NRI couples were looking up and evaluating options and the Participating developers and banks have reported receiving “solid enquiries” and many expect deals to be closed.