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Developer Watch- Lodha Group Continues To Scale Lofty Peaks

Lodha Group is one of the supreme real estate developers in India which was established in the year 1980 in Mumbai, India. Lodha Group lies among the top real estate companies of India which is particularly famous for its high – class residential and commercial projects. Most of the properties of Lodha Group are located in and around Mumbai in the Indian state of Maharashtra. The Group also has its presence in Hyderabad and Pune and is expanding to Bangalore as well. Internationally Lodha Group is present in the United Kingdom. Its presence in London makes it particularly very famous in India and the company’s growth is simply worth noticing in the recent times.

About Lodha Group

Lodha Group was founded by Mangal Prabhat Lodha in the year 1980. Mangal Prabhat Lodha was born on the 18th of December 1955 was a famous India politician and vice – president of the Bhartiya Janata Party (BJP) in Maharashtra came to establish this company in the year 1980. Abhishek Lodha, the son Mangal Prabhat Lodha is in charge of the development of the company in Mumbai. Lodha Group is one of the best real estate developers in India and is among the top select multinational real estate developers in the world with its presence internationally in London. Currently, there are 28 ongoing projects in London and within a span of few years of time, it might achieve new heights. The company is one of the most profitable real estate developers in India and has the record of being the largest by sales for consecutive three years in a row. Presently, Lodha Group is developing an area of around 43 million square feet of prime real estate.

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Types of Property of Lodha Group

Residential and commercial properties are the two types of Lodha Group properties in Mumbai. The residential properties include world class housing facilities such as apartments and townships with all the luxurious facilities that one can dream off. The commercial properties include the premium spaces of various corporate giants and signature offices for the different multinational companies. In London, Lodha Group is only dealing with residential properties at the moment.

It is not easy to lie among one of the best developers in India but Lodha Group has achieved this in quick time since its inception. This vision of the group is to build a better life and the complete team works with utmost dedication to make it the best in the field of real estate in India. Lodha Group has not only played a significant role in the development of real estate in India but also it has played a vital part in social welfares as well. Corporate social responsibility is undertaken by the social initiative wing of the Lodha Group known as the Lodha Foundation. Lodha Foundation established in the year 2007 has its prime focus on the development of health, education and livelihood. These developmental initiatives are undertaken by Manju Lodha who is the chairperson of Lodha Foundation and is the wife of Mangal Prabhat Lodha.

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Is it worth to make Investment in Badlapur, Mumbai

Badlapur is in the Thane district and is an upcoming locality that owes to its proximity to the upcoming Panvel- Badlapur Highway, local train connectivity and commercial activity in the area. The locality is in the advanced stage with superior infrastructure in projects, basic amenities like schools, banks, hospitals, local market nearby etc. The developers as well as prominent buyers who want to buy residential property in Mumbai has found Badlapur quite a profitable location to invest in. Badlapur is the fastest growing city in the Mumbai Metropolitan Region (MMR).

Experts say that a 1BHK with an area of 550 sq ft is available for Rs 17-18 lakh in Badlapur. Meanwhile, a new project with an area of 640 sq ft is in the range of Rs 20-22 lakh. As far as the infrastructure is concerned there is an underground drainage line coming up in the locality. 3 lane roads are also developing in order to provide better road connectivity. MIDC has come up with an industrial area within the limits of Kulgaon Badlapur Municipal Council.

Property Prices in Badlapur, Mumbai

The Mumbai property rates highly depend on the fluctuation of property prices in Badlapur as well. As per random public survey Badlapur has become the second preferable residential city after Dombivli in Thane district. In last 3 to 4 years, Badlapur property rates has increased minimum up to 30 to 40 percent. In next 4 years, property rates are expected to rise up to 30 to 40 percent due to growing demand of Badlapur city. Mumbai real estate is seen to be recklessly investing a huge sum in the projects of this area. People prefer Badlapur city as First Home however, the city is totally fit for Second Destination due to Pollution Free, Green Environment and Cool Atmosphere.

Connectivity

By roadways Badlapur is well connected to Thane and Mumbai-Pune Expressway.

  • It is also connected to Navi Mumbai through Mahape. Neral-Badlapur road is the bridge between Kalyan and Karjat.
  • The drastic and impressive development of NH-8 Arnala-Virar-Shirsad, SH-35 Kalyan-Badlapur-Karjat-Hal Phata, and SH-43 Katai-Naka-Badlapur and SH-38 Karjat to Hal Phata, under the Extended Mumbai Urban Infrastructure Project by Metropolitan Region Development Authority (MMRDA) has been a huge turning point.
  • The proposed Monorail at Central suburbs connects Badlapur to Bhiwandi or Thane or Kalyan to Badlapur. Badlapur is about 50 kms from international airport and about 30 kms from the proposed Navi Mumbai airport. Badlapur is experiencing a steady growth in the real estate sector due to the approval from Mumbai Metropolitan Regional Development Authority for several developments of infrastructures in Badlapur.

Today, the town comprises of the erstwhile villages of Badlapur, Kulgaon, Belavali, Manjarli, Katrap and other smaller villages. And this area has given a huge boost to the Mumbai property rates. More people, who work in Mumbai and want 2 bhk in Mumbai, are now preferring to buy in near area Badlapur East. So Badlapur East has become the next stop for the discerning home hunter after Thane, Kalyan and Dombivli. Nature lovers are always attracted towards the location that witnesses natural beauty around itself with greenery, waterfalls, hilly region etc. Investors prefer such locations to enjoy their vacations and weekends or live a peaceful life after their retirement or renting it out for that matter.

Affordable Housing Destinations in Navi Mumbai

We all know how costly Mumbai city actually is to live in. To get a proper apartment in Mumbai the price you need to pay is huge. But in recent days the real estates in Mumbai are becoming a little bit affordable for the common folk. The main reason for huge price hike in Mumbai Real Estate sector is Mumbai being the financial capital and the living space in Mumbai is pretty less comparing with the population of the city. In case of Navi Mumbai, we can say that, flats for sale in Mumbai are in your reach. So, let me give you an idea about the localities of Navi Mumbai where you can buy affordable homes and a rough rate analysis of those places.

Navi Mumbai is on the west coast of Maharashtra covering 150 km of the total 720 km of Konkan coast. CIDCO (City and Industrial Development Corporation) have divided Navi Mumbai in different zones.

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Different Zones in Navi Mumbai

Here are the zones where most affordable housing can be found.

  • Kharghar: -This locality is well planned and well developed by CIDCO. Divided into 45 sectors Kharghar is one of the well-designed regions of Navi Mumbai. Average buy price is Rs. 7650/sq.ft for apartments and for houses the range is in between Rs. 6500 & Rs.7300 / sq. ft. This locality has proper connectivity with bus routes linking to proper Mumbai city, has Medical facilities like Tata Memorial Hospital, near about 18 educational institutes (including NIFT) and shopping zones. So, this is a good choice for housing at Navi Mumbai.
  • Panvel: -Panvel is located in Raigad district of Mumbai Metropolitan Region (MMR). This place is highly populated and is a good mixture of residential and commercial areas. DAV, New Horizon, Buddhist International are some reputed schools here. Medical facilities are proper. It has close proximity to the Mumbai-Pune highway. Panvel has two regions; Old Panvel and New Panvel. Panvel real estate rates are about Rs. 5230 / sq.ft. Also the future prospect of Panvel is very good.
  • Ulwe: -This locality is one of the fastest growing localities of Navi Mumbai. It is also in Raigad district. Well connected to other parts of Mumbai. Price ranges for apartments are in the ballpark of Rs. 5900 / sq. ft. in case or apartments and Rs. 4500 / sq. ft. in case of residential houses.
  • Taloja: -Taloja like other nodes of Navi Mumbai is properly planned and well organised. Connected with other regions of Navi Mumbai via bus routes and train stations. The price of the apartments range between Rs. 4300 & Rs. 4550 / sq. ft. Mumbai Real Estate rates may touch the sky but here it is quite affordable in terms of living. 

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  • Airoli: -It is also well developed residential and commercial zone of Navi Mumbai. It has two chief residential areas namely Airoli village and Diva Village. Connectivity is great.  This region is well known for the hub of IT parks and educational institutes. It parks namely, iGate Knowledge Park, Print city, Reliable Tech Park and educational institutes like St. Xavier High School and the New Horizon Public School are well known here. Medical facilities are quite good also. The rates of apartments vary in the range of Rs. 7600 to Rs. 15000 / sq. ft.
  • Seawoods: -It is also one of the most developed nodes of Navi Mumbai. God connectivity to Mumbai city via railway station, god hangout spots and restaurants are prime features of Seawoods. Reputed schools like Delhi Public School and Ryan International are in the neighbourhood along with Seawood Hospital. Property rates vary in between Rs. 9500 & Rs. 11000/ sq. ft.    

So, here are some locations where you can find best Low Budget Housing in Navi Mumbai amidst uncountable flats for sale. Select your favourable locality and book your own apartment. Best of luck!!

Where to Purchase Flats in Mumbai?

Mumbai, the financial and commercial capital of India has a plethora of opportunities and plenty of basic facilities such as food, lodging, medical services, entertainment facilities etc. What else a person wants to settle down in a place? This is the significant reason most of the people prefer to buy residential property in Mumbai. What if you are an expat and want to purchase a flat for your family?So here we are going to list down some of the preferred locations in Mumbai where you can settle. There are main 3 places where one can settle down and live the life peacefully.

 

Top 3 Areas in Mumbai Preferred for Living

 

 

  • Powai: In Powai, there is a high availability of good quality of homes, clean neighbourhood and the place lies close to workplaces.
  • Juhu: Here, you will get many entertainment facilities where in weekends you can enjoy and relax.
  • Bandra: The entertainment factor availability and the glamour quotient of Bandra adds up to all this making the environment just ideal.

Related Article: Top Areas Preferred by Expats in Mumbai

In all these places, there are some good options of affordable as well as luxury flats in Mumbai where you can easily purchase residential space. There are certain other factors, that may interest you and you should go through before purchasing a flat.

Thane Vs. Navi Mumbai- Which is a Better Option?

In the recent past years, around Mumbai and the MMR like Navi Mumbai, Thane, Mira road and Kanjurmarg etc. have seen a phenomenal growth. There are several government projects going to develop in those areas and this helps to increase a robust growth. Mumbai is one of the costly city and most of the people want to invest here for purchasing a house in Navi Mumbai.  The areas like Navi Mumbai and Thane provide state of the art facilities and provide an excellent environment for people looking for apartments in the reasonable and the luxury segment.  Navi Mumbai and Thane are emerging as the new hub in commercial as well as residential sector. With frequently striving to meet the desired requirement and sifting according to societal developments, Navi Mumbai and Thane are playing a major role create real estate projects.

The Ideal Real Estate Investment

Due to the growing demand, the Mumbai property rates are increasing day by day. So, as a buyer or an investor it is very important to analyze your financial condition before proceeding towards your purchase.  There are several options available to invest in real estate, but it’s important to understand the proximity it offers, understand the local areas, and present trends in the area. This will assist you to understand the ROI and other essential things properly.

Before investing in property, it’s always essential to know the facts properly. There are several reasons to invest people for real estate in Thane or Navi Mumbai,

Reasons to Choose a Location in Thane or Navi Mumbai

 

Before starting real estate in Mumbai, it’s always better to know the locality value and all the other essential things. Like check environment, property position, locality, transportation, etc.  Thane and Navi Mumbai both are popular places, both have so many advantages. These two places are increasing their infrastructure and most of real estate developer wants to invest here to make projects. So, it’s a high time to compare and choose a  best real estate in Mumbai apartment details. If you want to know more details about the economic growth about these areas, you can search the net properly.

 

If you will choose thane its more better because it offers presently huge employment chances, and there are several branded companies are coming to invest for their projects. So, if you will buy a flat or invest in new residential project in Navi Mumbai, it will give you high return on investment in future. After a certain time, definitely Mumbai property rates will increase. So, don’t waste your time, just search the net and choose a best property for you.

 

 

Always check the property location, prices and compare both and then decide which one you should choose. Most of the real estate developers provide fake information during first stage. So, first check papers, documentation, project area, and planning and price details and then decide to buy the property or not. It’s a very important decision as because you and your family will stay here for life.  So, as per your suitability choose a location and buy a flat now!

Why PMAY Failed in Maharashtra?

There has, since the appointment of Narendra Modi as the Prime Minister, been the popping of a large number of varied and innovative schemes to make India a better place. A lot of schemes took off really well, but the momentum slowed down after all the hustle and bustle died down. The Swachh Bharath Abhiyaan is a tremendous success and is considered a feather in the cap of the present government rule.

There is another scheme that was launched by the Modi famously known as the “Housing for All” scheme. This scheme, evidently, aims at putting a roof over every person’s head. There was a lot of hype which was generated around this extremely ambitious project. But to everyone’s dismay, the project didn’t take off in Maharashtra, where the hype around this project was at its peak.

Reasons for its Failure in Maharashtra

There are various reasons why the “Pradhan Mantri Awas Yojna” failed to even take off in the state of Maharashtra. The value and availability of properties in Maharashtra were pointed out to be crucial issues. In the other states, over 80000 houses were built as a part of the PMAY scheme. The main plot of the scheme benefits the urban and the rural poor, with the government providing them monetary assistance up to 1 lakh rupees.

Three main reasons presented themselves as deal-breakers for this scheme in Maharashtra, which are discussed briefly below.

  • Shortage of Land- This was the main cause of the failure of this more than ambitious scheme. There is not enough land in Mumbai to house the people who have the money to buy a house for them. The overly populated city areas do not call for more houses to be built. Even though there is enough land in the outskirts of the city, connectivity poses a serious challenge. Properties in Mumbai, which don’t provide good connectivity, lose their retail value and cause unnecessary expense to the government.
  • Delayed Approvals- The metropolitan authority in the city of Mumbai, rather, the development authorities in the state of Maharashtra are pretty well known for their late approvals of development sites. The approvals itself for this scheme are estimated to take a minimum if 2-3 years, which is precious time deemed not to be wasted. Even a prominent real estate developer faces problems with the approval of projects.
  • Delayed MMRDA Plans- the plan for regional development is still waiting for its approval from the state government. An expert, who is also a prominent real estate developer says that finding areas which can act as a hub for improved social life will be tough, as all the areas are either overpopulated or not well connected and far away from the city.

Conclusion

The above reasons for the failure of the ambitious scheme could be reverted if the approvals are given on time, the slums are rehabilitated and the encroachments are removed.

Panvel to be Next Investment Hotspot in Navi Mumbai

Positioned, strategically, between crossroads of major highways and expressways, Panvel possesses a lot of developmental opportunities for new projects in new Navi Mumbai. Panvel is, undoubtedly, a rapidly growing option for customers seeking to acquire a second home purchase. The place comes in as an easily convenient offering since it is embedded with immense road connectivity and also a booming hotspot for realtors and developers establishing and building new Navi Mumbai projects.

Perks of Investing in Panvel

Panvel houses a variety of public service institutions like hospitals, commercial hubs, shopping complexes and also numerous educational institutions like Mahatma Phule Arts, Science, and Commerce College, Karnala Sports Academy, etc. Residents also enjoy the comfort of indulging in their favorite restaurants, cafés, bakeries, etc. from the everyday traditional to the popular chain-outlets. Also, being a contemporary hotspot for new age real-estate developers and builders, several residential properties Navi Mumbai are environment-centered in their designs, promoting eco-friendly ambiances, equipped with the latest amenities for smooth and easy everyday lifestyle. This very fact presents itself as a boon, making Panvel, a healthy and comfortable place to live.

 

Also, there is a range of property options one can choose from starting with a single loft to luxury bungalows to commercial spaces; Panvel is a leading top dog in the domain of affordable homes in Navi Mumbai. Due to its advantageous positioning near tourist hotspots and places of interest, it also holds potential in establishing a great rental market for tourists or any short-time visitors.

 

Future Prospects of Panvel

Panvel with its established infrastructure, mostly in the residential real-estate sector, promises an extensive and high-profile growth, especially with the proposal of projects coming underway from national-level organizations and the Government.

Some of the key upcoming projects include the conversion of the Jawaharlal Nehru Port into a Multi-Product Special Economic Zone in Navi Mumbai. This comes as a gateway to a plethora of opportunities for various other businesses to rise and operate in the existing neighboring area. These can range from economic public servicing facilities, trading extensions, intermediary services, and also with a growth in population, more transport communication systems. All these developments collectively imply a boom in employment, gathering a diverse population of individuals and families.

 

The ongoing construction of the Navi Mumbai International Airport is clearly one of the determining factors in the rapid growth and development of Panvel in the last five to seven years since this allows for a greater passage of incoming and outgoing tourists, visitors or general residents, in the vicinity of the city. This project calls for an expansion in the sectors of hospitality and management, resulting in better hospitals, hotels, schools, institutions, etc.

Panvel will also be extending its already numerous routes of connectivity through the Navi Mumbai Metro which is expected to start operations in May 2018.