Builders woo buyers with discounts, gifts
Jan 18, 2014
Source : The Times of India

 

THANE: With a view to cash in the property market fluctuations, developers in Thane are going all out to entice buyers. Anticipating high demand, many developers have either launched or announced new projects, along with discounts and gifts.

A 770 sq ft two bedroom-hall-kitchen (BHK) apartment near Balkum in Thane by Runwal group is offering no EMI or interest payment for the next 24 months after making the initial 20% payment of the flat. Dosti Group, which launched two new projects, is offering i-phone 5S with Mac notebook or 40 grams of gold to prospective buyers. Others like Wadhwa Group are offering zero service tax while Siddhi Group is offering two air-conditioner and a semi-modular kitchen in their projects. Some like Rustomjee Group are giving flats under the 20:80 scheme wherein the 80 per cent is paid by the bank as per construction. Mehta Group is offering a 32-inch LED TV and one-ton split AC free with every booking, while Raunak Group is offering to pay service and value added tax on the buyers behalf.

Deepak Goradia, managing director of Dosti Group, said, "People waiting on the sidelines for a price correction are coming back to buy real estate. But, the prices are expected to move further up from next month as interest rates zoom and this is driving the demand. The gifts and financial incentive will help a prospective buyer get the right property along with lucrative deals."

The fact that the Mumbai suburb, too, is becoming increasingly unaffordable was made evident at the ongoing four-day property exhibition organised by the Thane unit of the Maharashtra Chamber of Housing Industry (MCHI)-Confederation of Real Estate Developers Association of India (Credai).

A host of builders are offering one and 2BHK flats, many located at a distance of 5 km to 10 km from the station. Most of the apartments on offer were 2BHKs, costing no less that Rs 89 lakh each. A prominent builder was offering a 2BHK apartment for a steep price of Rs 2.36 crore, in a soon-to-be launched project.

Apartments with price tags below half a crore were scarce at the exhibition. Jitendra Mehta, secretary of Thane unit of MCHI-Credai, said, "Properties in Thane offer the same amenities as projects in Borivli or Goregaon but at a much lower rate. There is a difference of not less than Rs 4,000 a sq ft.''

The rates in Thane are a whopping Rs 7,000 per sq ft. Considering that the smallest house built in Thane has a minimum area of 1,000 sq ft, almost all Thane lodgings will cost you a over half a crore or more.

 

 

Latest Realty News

To buy or not to buy in Ulwe
Jan 18, 2014
MUMBAI: Inspite of all the infrastructural delays in Ulwe, there seems to be a golden opportunity in this climate of subdued sentiments. Let me try to substantiate the rationale behind this line of reasoning:
NMC property tax dept hit by assessment scam
Jan 17, 2014
NAGPUR: After revenue collection scam, Nagpur Municipal Corporation (NMC) property tax department has been hit by an assessment scandal. Of total 26 units, the officials of NMC Dharampeth Zone assessed only three units 10 years ago, forgetting to assess the sprawling Naivedyam Hall and 22 shops in Nagpur Improvement Trust (NIT) complex at Ambazari. Now, the property tax of only the hall has been assessed at Rs 1.09 crore, with the process of assessing the remaining shops in progress.
Major industrial house moves to develop its land
Jan 17, 2014
THANE: The Thane real estate industry has finally something to cheer about. The Thane Municipal Corporation (TMC) has at last received a project proposal from one of the many defunct industries that has been lying idle for over a decade.
Stakeholders keen to contribute to tourism growth
Jan 16, 2014
NASHIK: Stakeholders in Nashik's tourism business, like tour operators and builders, have offered their cooperation in the growth of tourism in the district.
NMC plans new tax for ads on private properties
Jan 16, 2014
NASHIK: The Nashik Muncipal Corporation (NMC) is planning to impose a new tax on advertisement displayed on private properties and on vehicles. The issue is to come up for decision at the general body meeting (GBM) on Friday.
Boom in Mumbai realty rates unsustainable: Study F
Jan 16, 2014
MUMBAI: An international research firm has stated that the city's property prices, which have increased nearly fourfold in the last decade, are unsustainable.
Unitech eyes close to Rs 1,000 crore from land, 2 NCR hotels
Jan 16, 2014
DELHI: Delhi-based real estate developer Unitech is looking at selling two hotel properties in the national capital region (NCR) and around 30 acres of land parcels in south India, which totally could fetch the company close to R1,000 crore, said an industry source.
Indian real estate worth Rs 7,700cr up for sale by lenders: Report
Jan 16, 2014
MUMBAI: India's dismal economic figures have expectedly hit the Realty sector hard - an estimated Rs7,700 crore worth of commercial and residential properties across the country are up for sale by lenders, according to an industry study.
Pune realty growth more organized than Mumbai
Jan 15, 2014
PUNE: Most of the urban cities that grew beyond the major metropolis have overshadowed the parent city for reasons more than one. While the growth of these new cities in terms of infrastructure has been better and organised, it has been well supported by the growth of economic activity. Is Pune growing at the cost of Mumbai and overshadowing the peer big city?
Nikhil Zaveri, owner of Rs 1,300-cr plot in Mumbai, is missing
Jan 15, 2014
MUMBAI: Nikhil Zaveri has been missing for more than a month. In a country where thousands of people fall through the cracks every year, this isn't remarkable in itself. Said to be in his 50s, Zaveri has Huntington's disease — a hereditary nerve disorder that can lead to progressive deterioration in cognitive functions and other psychiatric issues.

Latest Realty News Of State

Realty Talk's