Divergent Housing Price Trends In Mumbai And National Capital Region Crisi Research

CRISIL Research expects divergent price trends during the year in Mumbai and NCR (National Capital Region), the two largest residential real estate markets in India. In 2011, prices of houses are likely to decline in Mumbai, whereas prices will rise marginally in NCR. Further, the extent of price decline will vary widely across areas in Mumbai, whereas prices will inch up uniformly across areas in NCR.
CRISIL Research studied the price trend in three major supply pockets in Mumbai and NCR western suburbs (Goregaon, Malad, Kandivali and Borivali), Thane (Ghodbunder Road), and central suburbs (Dombivli and Kalyan) in Mumbai; and Noida and the outskirts of Ghaziabad and Faridabad in NCR.

City Reality reports offer an in-depth, area-wise analysis of residential, commercial and retail segments covering 400+ areas across 88 micro markets in 10 Indian cities. Read the real estate developer ratings at CRISIL that has developed two specialized products with their real estate research that help housing customers and financial institutions understand the intricacies.

Accounting for more than 50 per cent of total planned supply in each city, these major supply pockets would represent the trend in housing prices in the whole city. Mumbai and NCR would together account for more than half the 1.5 billion sq ft housing supply planned in India’s 10 leading cities up to 2013.

In Mumbai, falling demand, owing to diminished affordability, and rising interest rates will trigger a decline in prices in 2011. Prices of houses soared by 43 per cent in 2010, in the city’s three major supply pockets. Prices thus surpassed their peak values, attained in the first half of 2008, by 26 per cent, adversely affecting housing affordability. CRISIL Research therefore expects prices in Mumbai to decline by 8-10 per cent in 2011.
In NCR, prices will move up marginally because of relatively better affordability. Prices went up only by 6 per cent in 2010 in the capital region’s three major supply pockets. Prices in these areas currently are 15-20 per cent less than their peak values in the second half of 2007, making affordability relatively better in NCR than in Mumbai. CRISIL Research therefore expects average prices in the region to move up marginally by 3-4 per cent in 2011.

“Reduced affordability and a likely increase in interest rates by the Reserve Bank of India will subdue demand and depress housing prices in Mumbai in 2011. In NCR, relatively better affordability will prop prices despite any increase in interest rates,” explains Nagarajan Narasimhan, Director – CRISIL Research.

In Mumbai, the extent of the price decline would vary widely by area. Prices in premium locations like South Mumbai and Central Mumbai, which have an excess supply of houses priced at more than Rs 50 million, would decline sharply by 15-20 per cent over the next 12 months. Prices will decline more moderately, by about 6 per cent, in areas like Vasai and Virar, where affordability would be relatively better. In NCR, with prices increasing marginally across all areas, the trend, again, will be divergent.

Real Estate is one good options for Investing

Everyone has desire to earn money In the present trend Real Estate is the only one source to earn income constantly and steadily. In real estate industry once you can confidently invest the money to get steady and reliable income as the cost increases and never falls. As real estate is good handy to earn more as compared to job? Once investing in a property it can give it for rent or sell it and make money from it. Here the only risk to check the documents while buying property. If every things is fine you can never look back and will be very secure always.

Analyze what kind of property you should purchase and estimate how much returns it will give. The property which you are giving for rent will be in such a way that can gain at least huge money invested initially. These things should be calculated before you giving it for rent, because after getting you should not be in any debt or bankrupt situations. Everyone will investing in property to be away from the problems but should not increase the worries.

While buying a property so property research in terms of all aspects like value and transport etc. This will give you nice understanding the Market what are investing and how much amount can rise property value in future. Now a day’s buying property is good assert. Be wise in selecting the right place and areas; be away from financial problems without debt. Investing in Real Estate is one of best way in securing the money and generates huge income.

In India real estate market is booming and people are investing in hot cities like Bangalore, Chennai, Mumbai, Pune and Hyderabad.

This is Mark Joe Real Estate Market researcher and Analyst. And i use to write articles for property and Investment related websites. Here you can check for the Reviews on Builders and Developers online protal

Who Invented Super Built Up

All over India, super built-up concept has taken its place in real estate transactions. It is applicable to residential units, commercial premises and now to the open vacant land.

Although, there is no place of such concept in any law for the time being inforce, the transactions cannot take place without it.

Question is, who invented and why ? When builders started selling concepts instead of flats in early 80s, they were asked to sell it on carpet and no due charges were given for the extra amenities they had provided.

The balcony was charged extra premium by the BMC and builder mounted balcony area on carpet area of the flat. And slowly he started adding areas of passage, common staircase, lift wells, compounds, terrace, gardens etc on the carpet area to maximise his profits.

The permissible built up ratio was 18% that time and is still applicable. But the trend changed over the years. Builders started mounting 23% in early 90s then 30% in late 90s and nowadays majority of the builder sells nothing less then 33% to 45% on residential units, 50% to 200% on commercial premises. Government agencies like MHADA, SPPL, DDA and CIDCO are also following the trend.

Landlords are also now very well informed on such practice and hence sell the open land to developers by adding 33% of saleable area.

This is not the practice in Mumbai alone. Ahmedabad, Delhi, Rajkot, Bangalore, Pune, Nashik, Kolkatta, Chennai and elsewhere in India are following the trend.

When Mr. Deepak Parikh, chairman, HDFC, boldly said in CREDAI meeting at Bangalore that the sale must be on carpet area, no developer came forward to announce his intention to sell at carpet area except Mantri Group. CREDAI has itself imposed code of conduct which clearly says that the carpet area must be mentioned in sale agreement. The Confederation of Real Estate Developers Association of India failed to impose such code.

In Model Agreement under Maharashtra Apartment Ownership Act, it is mandatory to mention carpet area in sq.mtrs. And the model agreement is mandatory to be followed for entering into an agreement. But sellers never follows the model Agreement, instead drafts one sided agreement to protect them and attack the purchaser without any fault.

A thought was coined by MCHI office bearer, in a talk show on some channel recently, that we give extra amenities, extra open space, extra lifts and other amenities, we are charging for that. And super built-up area is just a method for calculating the rates. Either you pay Rs. 2600/- as super built up or Rs. 3800/- on carpet, my flat will cost Rs. 18,00,000/- for 2 BHK.

Open spaces are mandatory to be left alone in the Development Rules of BMC. The builder has to keep such open space. By just decorating and using it as USP for the project, it doesn’t give him any reason to mount on the carpet.

It is already written in DC Rules and proven that lift wells and staircase do not count in the total constructed FSI, hence charging such area on carpet is not justified.

Compounds also cannot be charged on carpet, because anything open to sky is not saleable. Non saleable areas cannot be sold by proxy. It cannot be counted in area of occupation. Also, open car parkings are been sold, hence builder should not charge the open compounds twice, once sold as car parking and secondly mounting such areas on carpet. Even open car parking cannot be sold.

Lastly, the customer who register their documents on super built-up area pays higher property tax, society charges for life time. He pays the taxes for lifetime on the area which he is not occupying and only mentioned on paper. Higher stamp duty and Registration charges on super built-up area is also not justified.

It was indeed a great concept two decades ago, but now when transparencies are discussed, the seller must be Caveat Emptor. Let the buyer be beware of everything which he is paying for. Founder Convenor Mr. K.V. Satyamurthy, FAAI rightly raised the voice as “Maap Mein Paap Nahin”. An upcoming rating agency sent a SMS to this author, said “Earth will swell 45%, if developed by a Mumbai developer”

[Counter arguments are invited. Just mail on ]

Mumbai Real Estate Buzz!!!

Mumbai often termed as the city of dreams has its real estate market buzzing around the year. Mumbai also called as the financial capital of India has some of the biggest names of the real estate industry associated with it. It is also the most preferred real estate destination for property hunters & and over the coming years not only attracted major developers & construction houses but also some foreign investors.

During the global downturn there was a slight shift in interests among the investors, advertisers & buyers due to the market conditions. Buyers & investors opted for the wait & watch approach during that period which led to the decrease in the demand for properties not only in mumbai but also across India. But now the real estate market is growing at a fast pace and has not only managed to overcome the crisis but also has shown a steady growth overall. The government has taken some preventive measures in order to cope up with the situation, which has created a positive buzz & has made mumbai a hot spot across the globe.

Mumbai real estate market has the highest numbers of property developers & builders in India. Even though the property prices in mumbai are very high but the supply of quality raw materials & construction falls way short o the demand. The recent media reports & market trends clearly indicate of an exceptional increase in the commercial office spaces & a steady growth in demand in the residential sector across mumbai.

Mumbai real estate sector is often considered as a price sensitive destination has seen a decent appreciation in property prices. In addition to that, the rentals & apartment values have seeing a steady increase in the past couple of years. As far as future market trends are concerned the government has coming up with various new infrastructure projects which includes airports, flyovers and much more which is creating a positive impact on the on the entire real estate scenario in mumbai which also will bring some fruitful benefits in the coming years.

Mumbai serviced apartment

We offer service apartment in Mumbai to our customers who are expected to spend a few weeks in any prime location in Mumbai for any reason. The service apartment in Mumbai that we serve our customers is just like a second home to them. These apartments are well furnished and make our customers feel cool and relaxed. Our service apartments are located in the prime locations such as Bandra, Kurla, Andheri, Lokhandwala and many others. We offer service apartment at a competitive market price.

The serviced apartment in Mumbai that we offer our customers at an affordable price is mostly located in the prime areas. We also offer high standard of safety along with these serviced apartment by deploying security personal round the clock. Ultimate cleanliness is a part of these serviced apartments so we engage the housekeeping staff to maintain proper hygiene throughout the stay of our customers in the serviced apartment. Finally, our serviced apartment in Mumbai is a great place for fantastic food and personalized service.

We offer our customers in Mumbai serviced apartment that comes at a cheaper price and better amenities. Our Mumbai serviced apartments are suitable for mid range accommodation for a vacation or business purpose. These services apartments are well furnished and offer our customers privacy and comfort of a home. Our serviced apartments are quite spacious and can easily accommodate a complete family or a group of corporate executives. The best part of our Mumbai serviced apartment is that we serve our customers with fantastic food through our professional chef.

We offer luxurious apartment to our customers to make their stay relaxing and convenient. Our 2BHK and 3BHK apartments are equipped with all facilities similar to luxurious hotels in Bandra. These apartments are available at great rates throughout the year for stay of just few nights. So customers can easily save money on the hotels in Bandra when they stay at our fully furnished apartments. We at our serviced apartment offer comfortable stay in the safe surrounding. We end the search of several customers with our fully furnished apartment hotels in Mumbai. These apartment hotels in Mumbai are located in the prime areas for better convenience of the customers in travelling. We are equipped with 2BHK and 3BHK apartments integrated with all the facilities like that of a hotel. Our apartment hotels in Mumbai are cheaper than normal hotels in Mumbai. We also have regular customers who come to stay at our apartment hotels in Mumbai very often to make big cost savings. Inherent flexibility is part our apartment hotels in Mumbai for short stay business or vacation trip.

India Real Estate

India is recognized as a land for all season. Everybody is amazed by the beauty and culture of India. Humanity, religious and races are nowhere better on this earth than India. Each characteristic of nation represents itself on a huge, inflated scale, praiseworthy when compared with other countries on the globe. People feel immense pleasure owning a property or a piece of land here. India real estate is one of the fastest growing sectors in the country. This rapidly growing real estate market is getting matured day by day as large and international people are taking part. India real estate market has augmenting investors and carries a real industry-responsive approach. Even the real estate prices are augmenting fast, especially Chennai real estate, Hyderabad real estate and Bangalore real estate are on the very high phase. The market boom is spread across the country and hence more and more Indians are not interested in investing for India real estate. The economy rate as well has managed to grow faster than 8% each year because of increasing real estate market trend.

India real estate is just not trendy among Indians, but has also gained popularity among foreigners. Morgan Stanly one of the worlds best banks has of late invested about $152 million Mumbai real estate. The presented report also stated that this is the only biggest investment in Indias booming real estate sector. This proves that India real estate is improving in reality. Further more states that foreign investors have immense interest investing in real estate India. Due to the demand of residential and commercial real estate among NRIs has pushed the price of real estate beyond actual limit. This in turn offer common platform for Indians and Foreigner to invest in India real estate for highest return on investment. In case you are searching for real estate property in India then you can come across comprehensive list of residential and commercial property that will be suitable for you and for your budget.

According to a government official report of March 2007, India has attracted $3 billion worth of real estate. This roaring India real estate market is now further expected to contribute for about $30 billion in the upcoming years. When compared to last year, real estate 2007 has gone doubled. Investing in India real estate could lead you as well with the long-lasing wealth and monetary freedom. Real estate can become a cash producing machine for you with this highly profitable business. You must be aware of the basic strategies of investing in India real estate and should be capable to cope with market conditions. People that cannot make the payment at a stretch can go for city home loan options. Read out some online magazines and articles to get educated in your investment first by knowing the large-scale tendency of real estate market. You must as well need to educate yourself about the target neighborhoods joining the backup of successful real estate experts. If you favor getting a real estate property at an affordable price that can be useful for constant holidays and could be the most excellent return on investment, then India real estate is the most suitable destination for you.

Advantage And Disadvantage To Invest In Real Estate Market Of Noida.

Noida has the real estate market, that the correction has been performed, and Mumbai was the last in line. Both have recovered after the introduction of recovery plans and direct action by the government in restructuring the debt, has avoided the other impacts on the Indian sector. Moreover, these two markets has certainly reached the ground.

Closer to the households in the real estate market in Noida are the prices of residential properties are essentially determined by the situation. Lateens area is a chic resort preferred among the upper classes. Residential real estate in this area is selling like hot cakes, but the price is staggering. Given the importance of owning a home in this area, people prefer not to part with their residential assets. It is rare to find a property for sale in this area. As the demand for real estate in this area is high, with limited supply, it is natural for prices to exorbitant. Houses and commercial area Lateens top politicians, bureaucrats and business tycoons with deep pockets. The prices in this area, never a drop due to the upscale neighborhood, the historic significance of the place, well-developed infrastructure and municipal services. Owning a house in the area affected Lateens high status in society.

So we welcome the formation of a bubble in Indian real estate? It is possible, but only in the cities, where prices actually rose on accessibility in the air. It can be argued that this is done almost everywhere in the country, but the fact is that local people are still buying property in an as-needed basis in most Level II and III cities. The supply in most of these cities is limited, more or cut. So when we talk about the possibility of a bubble, you can really only talk about real estate in Mumbai and Delhi now.

During the recovery phase, large amounts of capital sitting on the fence immediately saw an opportunity. This was the first he saw the stock market, and then later in real estate and gold commodity markets – all three classes to revert to a convincing and Mumbai and Delhi in the property market throughout much of a comeback.

It is a place where you will see that all schools and high schools in accordance with international standards modeled. In fact, medical sites, commercial, institutional, residential and entertainment match with international levels and provide a classy look.
Greater Noida offers immense potential, more and more investors to invest their capital in the personal and professional interests of the place to get. You can add, land area, are also very affordable. And knowing that this place may be the next target, it is definitely worth the investment in areas away from residential areas near the highway and the golf course. The plot sizes in the Sigma and Eta-sector, Chi Phi at the Expressway and Swarn Nagri extend from 200-1000 square meters.

Service Apartments In Navi Mumbai- Astute Apartment

We were 4 people came in navi mumbai for 15 days for the business purpose and we got an information about Astutestay.in as service apartment. As our meeting was in belapur, so we have decided to have a service apartment in belapur only. As whenever we take a business trip leaving our home, we all are confronted with the challenges of a new city, and looking for a suitable accomodation and finding the suitable accomodation always a bit frustating but Choosing Astute Apartments, was the perfect decision for all of us. Astute Apartment had given us the luxury and privacy, a pefect alternative to the 3- star hotel as also make us feeling homely and economically. I really have to tell you that this decision to stay in belapur was one of the best decision. The apartment was full furnished and the service was excellent, no disturbance at all, Big space, Cleanliness, etc.
Actually one day my internet was not workin but in Astute apartment free internet service was also there as WI-FI was connected over there. So to be more precise to say that service apartment services should be like Astute Apartment. The main highlight of this service apartment is the view from the balcony was really nice and in the morning there were no noise and no disturbance at all. So we can rest till the time we want to rest. I had really felt that day was my outing and not my business trip. Malls , Market, Station and everything was in just a 5 minutes walking distance. For the first time in our meeting we were feeling like we are not in an another city as we are living in our home. Area was so much quite and relaxing that we never got in any of the hotels and i really want to tell you that service apartments is much more relaxing than any hotels, and in that also if you are selecting astute apartment than I am sure that you are going to have the best day of your life. And also in our company we have decided that whenever we will come in mumbai, we were going to stay in Astute apatment.
One more thing to say that in Astute apartments you will never ever get anything to complaint. We had came in navi mumbai for meeting but realy Astute Apartment has made a nice holiday for us.

Investigating Effortless Solutions Of Real Estate

They say:”Something better might think about it the market. Know which you need a great team to obtain associated with real estate property investing. circumvents the entire horizon cuddling the spot in their arms and providing a comfortable feel all around. Once you get a better grasp with the current situation along with direction from the property market, acquiring and later on offering real-estate properties wouldn’t normally get the maximum amount of hard work as compared with other investment endeavors. There’s still lots of room designed for business to here.

The three Cs of personal branding are clarity, consistency and constancy. Targeted direct mail delivers excellent results providing two conditions are met:. Not only industrial hubs are adding to its rapid growth and also real-estate, that’s around the rise. Real estate Mumbai property is thriving with developments reported across retail, industrial, commercial, hospitality and residential sectors. Buying a property in cash can assist you get a better deal and permit you to negotiate coming from a position of strength.

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Real Estate Agents In Chicago Being A Wise Consumer

Real estate agents in Chicago, New York, London, Shanghai and Mumbai are adept at making fortunes out of property deals. Well, they are a talented lot when it comes to making money. However, what is actually fueling their increasing importance in brokering real estate deals is the huge gap between supply and demand. There is an acute shortage of prime real estate in these cities. But the growth in disposable income of highly paid professionals in these cities has led to enormous interest in real estate.

Real estate agents provide a service for both the buyer and the seller at the same time. How does this work? Well, real estate agents assist the buyer by showing him properties that meet the criteria he wants and by helping him negotiate an acceptable price for the property when he is ready to buy. Meanwhile, real estate agents assist the seller by bringing in possible buyers to view his property and ensuring the seller gets a fair price when selling. A good real estate agent will make win-win deals, thus becoming an integral part of the property market.

If you possess the useful resources while working in a metropolitan city like Chicago, you can always make some investment in the real estate industry viz. a new house. Price increase in property allows you to deal with the rising prices. Moreover, this ensures that you live in a better flat in a much better area.

A good place to find steady and able real estate agents in major metropolitan cities is real estate specific websites. Also, performing background checks on any agents you may consider using is essential. In a perfect circumstance, you would want to be in contact with many agents so you are shown a bigger variety of property. It also guarantees you a good deal because you can compare agents to each other.

It would be in your best interest to understand the laws that pertain to real estate in your particular location. For instance, if you are buying or selling a property in New York and you are aware of the real estate laws that govern New York then you can be sure that you are not scammed by an estate agent, who’s promises may not necessarily be legal.

Your ability to find good real estate is related to and enhanced by your ability to employ real estate agents. You also need to be able to deal with them intelligently and sift through their speeches.