Proposed sea link to support Navi Mumbai market
Dec 13, 2013
Source : The Times of India


MUMBAI: The proposed 22 km six-lane sea link between Sewri and Nhava Sheva is all set to change the skyline of Panvel as the distance between Mumbai city and Panvel will reduce drastically. With this proposed infrastructural project and development of various offices and corporate houses around Navi Mumbai, the demand for residential properties in Navi Mumbai is expected to increase.

In terms of infrastructure, Navi Mumbai is developing fast and is well connected to Mumbai and Pune. The wide expressway, connecting Navi Mumbai to Mumbai, Pune and Goa has eased commuting to a great extent. In addition, Navi Mumbai also offers seamless connectivity to CST via rail, thus making life easier for commuters on a regular basis.

Navi Mumbai was a destination for second homes and is now gradually transforming into a first home destination. It is also developing from the education point of view. There are several renowned schools and colleges like JH Ambani School, St. Joseph’s High School, MGM College for Medical, Engineering, Architectural, Dr DY Patil Engineering College, etc. It also has big hospitals such as Life Line Hospital and Gandhi Hospital.

But how has been the consumer response and who is buying? Today’s buyers are well educated, well travelled and well aware of ambience, lifestyle and facilities that are available across the globe. The economic growth witnessed by India in the last two decades has completely changed the aspirations of today’s home buyers. Real estate projects that are strategically located, offer all kinds of social infrastructure that include healthcare facilities, education, malls and multiplexes, Gym, Swimming pools, parking, gardens and security, are on their priority list. The projects by branded developers get first preference, since the ‘trust’ factor plays a key role in the final decision making.

Potential home buyers in Navi Mumbai include people from salaried classes, self employed, businessmen, High Net-worth Individuals (HNIs) and Non Resident Indians (NRIs). The budgets depend on the requirement of the home buyer. Generally, projects at premium locations are sold out at the time of soft launch itself. Others are being sold out in different phases. Today’s consumer is more demanding and ready to pay more if they are looking for a particular location which fulfills their requirement.

What is ideal, best, and unique’ always gets sold in any market. As we all know, the current market conditions are a reflection to the overall economic slowdown. But it is a temporary phenomenon, which does not last long.

Latest Realty News

Tata Housing Development gives opportunity to book homes online
Dec 13, 2013
PUNE: Tata Housing Development Company has come out with a unique scheme for home buyers bringing them the opportunity to purchase homes online during the great online shopping festival by Google.
New residential project launches drop 12% in 2013
Dec 13, 2013
MUMBAI: International property consultants Cushman & Wakefield on Thursday reported a drop of 12% in new residential project launches in 2013 as over last year. The total estimated unit launches were recorded at 172,500 units across major eight cities of India with Bengaluru recording the largest number of units launched recording a rise 15%.
Pune Court restrains entrepreneur from defaming Lavasa
Dec 13, 2013
MUMBAI: In a relief to Lavasa Corporation Limited, a Pune court, in an interim order, has restrained an entrepreneur from publishing or circulating defamatory material against the company.
FSI incentives also offered to existing proposals
Dec 12, 2013
BANGALORE: Floor Space Index incentives are offered not only to fresh proposals but also to the existing realty proposals. Housing societies of landlords or occupiers may convert their earlier proposals in accordance with the modified regulations, provided the redevelopment scheme is in progress and has not been completed, i.e. where full occupation certificate is not granted.
NRI dollars flow into investments
Dec 12, 2013
MUMBAI: The share of remittances in India used for investment has gradually increased as compared with the main usage for family maintenance purposes.
Realty market muted on lack of new projects, weak sentiment: Survey
Dec 12, 2013
MUMBAI: Property prices in Mumbai and Delhi NCR, among India's top realty markets, marginally rose in the third quarter of 2013 mainly due to lack of new launches and cautious sentiment in the sector, a survey said.
Aversion to debt makes Kolte Patil a rare realty gem
Dec 12, 2013
MUMBAI: Sujay Kalele, a former Infoscion, is a different kind of a real estate CEO. He thinks a hundred times before taking on debt. If cash flows are not strong, he would rather prefer private equity or partnerships than loans. In three years since taking over as the chief executive officer of Kolte-Patil, revenues of the Pune-based real estate developer have jumped 70%, profit has risen 50% while shares have soared 60% compared with a 60% fall in the BSE realty index.
Inflation, rupee, sliding growth hit commercial property market
Dec 11, 2013
MUMBAI: Sentiment in the Indian occupier and investment real estate markets has been hit on account of deteriorating levels of growth in the economy, continuous fall in the rupee value, high retail inflation and subsequent rise in key policy rates, according to the RICS India Commercial Property Survey Q3 2013.
Gammon struggles to turn around
Dec 11, 2013
MUMBAI: Gammon India is reeling under many issues common to the infrastructure sector in the past two years -- slow progress of projects, payment crises and reduced spending by the government.
Why Pune makes a great investment destination
Dec 11, 2013
PUNE: Being one of the fastest growing IT hubs of India, Pune has a cosmopolitan population with good social infrastructure, excellent educational institutes and constantly upgrading physical infrastructure. The city has always been known as the educational capital of India. The infrastructure, financial opportunities and most importantly the climate of Pune make the younger generation want to live here. In addition, its proximity to Mumbai, the financial capital, makes it very convenient to set

Latest Realty News Of State

Realty Talk's