realestate2022

2018: Bringing Back Realty To Life (Shutterstock) The year that is going by has been a year of many ups and downs for the real estate sector. In 2017, the sector underwent major change, attributed to the key reformative legislations introduced. This phase of change made homebuyers investment-shy while developers engrossed themselves in making their business compliant with the newly introduced real estate law. According to Ankur Dhawan, Chief Investment Officer, PropTiger.com, “In 2017, homebuyers experienced a yo-yo sentiment. While 2016 ended on a bad note after demonetisation, in the beginning of 2017, when banks began to cut rates, homebuyers made a comeback. After the implementation of the real estate law, while the developers were busy registering projects, homebuyers took a step back and waited for the developers to register their projects and then invest in RERA-compliant projects. Then with the coming of the Goods and Services Tax (GST), the homebuyers again turned fence-sitter...

Buying property overseas more lucrative for Indians. Here is why? Increasingly, more and more Indians, outside the category of high net worth individuals (HNI), are buying property outside of India. When Salim Asghar (name changed) decided to pick up a studio apartment in Dubai, his family was sceptical. Asghar was looking at investing his money and his family wanted him to park it in a property in Mumbai or  Pune. But the investment banker from Mumbai, who had done research on prime property markets across the country, knew that the Indian market offered little value-for-money and Dubai was the best “investment-friendly” option for him. “While a one-bedroom house in a prime location in Mumbai would set me back by Rs 1.5-Rs 3 crore, I could pick up a bigger apartment in that price in Dubai,” reasons Asghar. He finally bought a one-bedroom apartment in Dubai Silicon Oasis for Rs 1.05 crore in September this year and intends to rent it out soon. “I will easily earn a yearly rent of R...

Will Versova-Bandra Sea Link Push Property Prices In Mumbai? (Shutterstock) The much-awaited Versova-Bandra Sea Link (VBSL) would be a reality soon as the Maharashtra government has given administration approval to the proposed link road. The sea link would be 9.2-km long and would serve as an extension to the existing Bandra-Worli Sea Link. Once operational, the commuters travelling to south Mumbai from Western Suburbs can skip the Western Express Highway and can use sea links for the commute which would have connectors at Bandra, Otters Club, the Juhu Link Road and the Versova Link Road. Sea Link to cut the congestion Currently, one has to take the Western Express Highway to reach south Mumbai from the western suburbs and have to pass through congested areas such as Borivali, Andheri, Juhu, Mahim, etc. The journey usually takes 60-90 minutes during peak office hours. With the new road, the travel time would be reduced to 12 minutes. The connectivity is expected to improve further by ...

Branded Residences: Luxury Living Has A New Address (Shutterstock) India is home to more than 2.4 lakh millionaires, and the number is going to increase by 50 per cent in 2022, a recently released report by Credit Suisse says. With growing wealth, the taste and the choice of luxury are also evolving. To cater to this segment, real estate developers are going the extra mile to bring the exclusive luxury concept to India. The branded residence is one such trend that is catching up in cities like Mumbai, New Delhi, Bengaluru and suburban areas such as Gurgaon and Noida where new-age millionaires would like to settle. In fact, NRIs are also considering these options for investment as it suits their lifestyle choices and comfort level. Most of the branded residences projects are designed keeping in mind the taste of NRI clientele. Here is all you need to know about the branded residences :- What Makes Branded Residences Special? To bring in the highest form of aspirational lux...

Tata Projects Daewoo JV Wins Mumbai Trans Harbour Link Package 2 For Rs. 5,612 Cr JV to use reverse circulation drill method and special steel from Japan for construction Tata Projects Limited in a Joint Venture with Daewoo E&C of South Korea on Monday, announced that they have secured an $850 million contract (Rs. 5,612 Crores) to design & build a part of India’s longest sea-bridge – Mumbai Trans Harbour Link. While the Tata JV emerged as the lowest bidder for both the Sea Packages 1 & 2, it was awarded only one of the packages (package 2) as provided in the tender conditions. The package awarded to Daewoo – Tata Projects JV involves construction of a 7.8 km long bridge section across the Mumbai Bay including Shivaji Nagar Interchange at Navi Mumbai at contract value of Rs. 5,612 Crores ($850 million), which is a complex stretch. Tata Projects is one of India’s fastest growing construction company and together with its Korean partner, it will bring state of the art technol...

Looking for a villa? You can buy a valley. Going for sale now. If you have the kind of wealth some small nations generate in a year - well,  the Sahara Group's Aamby Valley City is for you. Sahara Group's Aamby Valley City Ever dreamed of stepping out onto a balcony, taking a moment to the savour the sight of rolling hills and a lush riverfront flanking a pristine waterway... and basking in the knowledge that you own it all? Well, whip out that chequebook. The Sahara Group's Aamby Valley City in Pune's Lonavala - yes, the one with  a price tag of Rs 37,392 crore  - is on sale, in case you're interested. To put things in perspective: That amount - roughly US $ 5,788,281,600 - is higher than the GDP of some nations. And just by the way, the Sahara Group says it's worth way more: a whopping Rs 1 lakh crore. If you manage to seal the deal, you'll be the master of a 6.76 lakh acre township with "timber chalets" and customised villas." There's ...

Once A Place For India's Richest To Unwind, Aamby Valley Is Now Deserted The golf course that has no takers Around 573 timber chalets and the customised villas, costing anywhere between Rs 8 crore and Rs 20 crore, are mostly empty, and so are the streets once lined with Bougainvillea. All one can spot while entering the township now are rows of abandoned motorbikes and buses that the staff used to cater the needs and demands of the residents. Like all Sahara Group businesses, the fortunes of the township, spread over 10,500 acres off Lonavala, 120 km from Mumbai, started dipping with the rise of Subrata Roy's troubles in early 2014 when the Supreme Court ordered his arrest for allegedly failing to refund investors Rs 24,000 crore deposits. The lockdown, however, was announced this October with around 1,600 of the 2,000 township staff suspended, and their salaries withheld. Most of the workers who ran the township have left, leaving behind what appears to be a palace compound of...