Track2Realty: Western suburbs of Mumbai are set for a facelift through redevelopment post the new Development Control Rule (DCR). Ravi Sinha speaks to Lalit Kumar Jain, CMD, Kumar Urban Development and CREDAI President to understand whether it would add more pressure on the existing crumbling infrastructure of the suburbs. Excerpts of the interview:
Track2Realty: The primary advantage of going in for a resale flat would lie in buying a home in a strategic location where no new supply is coming in. If one has personal cash resources at one’s disposal and is not reliant on a home loan (a home loan on a very old property cannot be taken for granted), buying a home in a project that is 20 years or more in age can be a good investment bet if the residential property is in a strategic, high demand location with low or no new supply. This would mean that the project would come up for redevelopment, ensuring a tidy profit to the owner.
Track2Realty: Real estate sentiment remains fragile, most notably in the occupier markets in Europe, as the global economy continues to face strong and persistent headwinds. The recession in Europe, coupled with only modest growth in the US and a slowdown in China has resulted in global economic prospects being no more certain than in the previous quarter. These are the findings of These are the findings of the latest RICS Global Commercial Property Survey.
Track2Realty: MCHI-CREDAI has embarked on an ambitious four-day property exhibition from November 01, 2012 showcasing flats, bungalows and commercial offering from across Mumbai city and the Mumbai Metropolitan Region.
Track2Realty: Mumbai region has seen prices appreciate by double digit percentages over the last two years. It is interesting to note that some areas have witnessed over 50% price rise when we compare per square feet prices (PQSF) of Q3-12 (Jul-Aug-Sep) over Q3-10(Jul-Aug-Sep). This clearly reflects that capital values in and around Mumbai region has been continuously moving at a steady pace year on year, says a report by property portal 99 acres.com.
Track2Realty-Agencies: Delhi Government on Wednesday, Sep 26, issued directions to allow sale, purchase and registration of property in 312 unauthorised colonies built on private land. These were among the 895 colonies regularized early this month.
The government plans to bring unorganised property agents and brokers under the ambit of the proposed real estate regulator, imposing stringent penalties including imprisonment on those who dupe buyers or operate without a valid registration.
Runwal Group, has reportedly purchased Neosym Industry Ltd, a metal manufacturing company located on LBS Marg in Bhandup owned by Kolkata industrialist C K Birla’s family.
According to the latest RICS India Commercial Property Survey, sentiment in the Indian real estate market has been adversely affected in the second quarter, as the economic picture in the country continues to remain bleak with the declining value of the rupee and growth forecasts being revised lower, along with a deteriorating global climate.
If you think prime locations in the NCR have hit the roof and you missed the dream rally in having a reasonably priced home, there is no reason to look at the secondary locations. In an expanding National Capital Region (NCR) while some of the locations deter you due to its less appreciation potential or controversies galore, then probably your property hunt has not led you to the destination next of the region—New Gurgaon.