This project will be developed under a development management agreement. Spread over 14 acres, the project will offer approximately 1,95,000 square metres (2.1 million square feet) of saleable area and will be developed as a residential development comprising of modern residential apartments of various configurations along with a small retail component to support this residential development.
The Central and States governments are now contemplating many ways and means to provide access to housing for all. Affordable housing will not only fill the housing gap but be the next major economic growth driver by creating more than 2 million jobs during the period till 2022.
This 126 km long Virar – Alibaug Multi Modal Corridor will connect NH-8, Bhiwandi bypass, NH-3, NH-4 and NH-4B, Mumbai-Pune Expressway, NH-17, etc. Out of this 126 km corridor, 79 km long Virar (Navghar) to Chirner (JNPT) corridor has been declared financially feasible and has been approved by the Mumbai Metropolitan Regional Development Authority (MMRDA) in March, 2012.
There is currently a shortage of 20 million homes. By 2030, 590 million Indians will live in cities, necessitating a further $2.1 trillion of capital investment in infrastructure. The challenge to house the future population is urban in scope and unprecedented in scale.
Be it Mumbai or Pune in the Western part of India or Hyderabad, Bangalore and Chennai in the South, the homebuyers seem to be convinced with the reality of GST and its implications with various stages of construction. It is hence not surprising that most of the homebuyers across the cities today wish to invest in ready to move apartments to save from the hassles of paying the GST.
There are very few case studies where the developers have flocked out to cities on sheer promise without registering their presence in the four metro cities. However, such migration to magnet territory is today quite visible in Gujarat where the developers from other states are increasingly flocking, most notably in the city of Ahmedabad.
As per Colliers Research, RERA and GST compliance will remain a challenge for several developers for at least the next six months. We expect a decline in the number of launches in H2 2017. However, the sales are likely to pick up during the festive season due to higher optimism among buyers after RERA.
LOGOS is a vertically integrated logistics real estate specialist, with operations in Australia, China, South East Asia and now India. The partnership will combine the institutional management and development expertise of LOGOS with the local development expertise of Assetz to create a leading developer and manager of logistics warehouses and light industrial real estate in India.
When one develops a slum, for instance, and even if 20 per cent of land is given for commercial use as incentive in the bargain, it is a deal for the developer. After all, in the space starved city like Mumbai even a small chunk of land in any of the prime location is a rare commodity. The question is if such a business dynamics is a feasible model, why did the developers shied away from making the best of it so far.
Reports of price correction, more often than not, seem to conceal more than it reveal on the pulse of the property barometer. The answer as to whether this is the right time to buy is not a simple yes or no, but it depends on a number of factors like whether a buyer is looking for first or second house, for living or investment, if investment then it is for the long run or short run etc.