Purchase & Sales
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Answered on November 08, 2017
Commerical market had been at an all time low since the last couple of years. Because of this, commercial supply went down drastically except in select areas such as BKC, Lower Parel. Over time, people have been experiencing a dearth in supply in places in northern suburbs of mumbai and demand for commercial real estate is now on the rise, especially for compact units in the range of 400-1000 s...
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Answered on November 08, 2017
We would suggest you to check the detailed blog post about the same. Please visit this link
Answered on November 08, 2017
Are the grounds for delay due to force majeure conditions, beyond the control of the developer?
If not, can you please elaborate the terms in your agreement? Is there a termination clause in the agreement? What is the possession date specifically mentioned in the agreement?
On grounds of inordinate delay, you can approach the developer to amicably settle the matter. However, if that does not wo...
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Answered on November 08, 2017
This is a very subjective question. Does the buyer intend to stay in Mumbai and make it his home or is from outside the city for a couple of years. There is room in the city for the prices to escalate even further, especially because we are a developing economy. GDP of the country is still in the growth mode, maximum of the population is in under the age of 25. FSI in mumbai ranges from 0.5-4 d...
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Answered on November 08, 2017
a) Not till the outskirts of Mumbai city is fully developed like in advanced countries; b) Poor logistics and infrastructure developement is also one of the key reasons for No Reduction in property prices.
Answered on November 08, 2017
Ready reckoner has the single most important impact on the pricing of any property. Most of the premiums of the statutory authorities are tied to the ready reckoner. Hence an increase in the ready reckoner price has a direct increase on the cost, which shall ultimately affect the price. A classic example of the same can be seen in Mumbai, where ready reckoner prices have increased multi-fold in...
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Answered on November 08, 2017
There are a couple of reasons behind this. All MCGM costs, are dependent on a ready reckoner rate, that is reviewed and set by the government annually. Over the last couple of years, there have been exponential increases in the prices of the ready reckoner rates. All MCGM related costs are directly proportional to these rates and hence have gone up many times over the last couple of years. Besi...
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Answered on November 08, 2017
Comparison should be on following facts: 1. Type of building (e.g. Complex / stand alone / High or low rise); 2. Amenities and specifiactions; 3. Completion time and 4. On carpet area basis 5. Developer reputation and projects completed by him in the recent past
Answered on November 08, 2017
Mumbai real estate prices historically have increased at the rate of 15-18% annually over the last 50 odd years. Reasons for the same have already been answered in another question in the same category.
Answered on November 08, 2017
Real Estate (Regulation and Development) Act 2016' makes it mandatory for all under construction projects as well as completed but Occupation / Completion certificate is yet to be received to register under the said Act and upload full information about the project whereby anyone can check all approvals, titles etc. online.
