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!
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.
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.
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.
India is a country of middle class people in the cities. Mostly, they belong to lower middle class of society. Every common person in India seeks an affordable housing instead of luxurious housing. Even if the luxurious housing is sought after, their percentage is very low. In India people do not wish or dream for very big. Especially, the metropolitan cities of Mumbai, Bangalore & Pune are perfect examples of such housing. The housing in these cities is very costly and mostly people try to rent/ buy affordable homes in Mumbai, Bangalore and other cities.
The 21st Century Workforce and Housing
In the wake of 21st century, the world here is stepping towards a more competitive realm. In search of work the trained and skilled workforce comes to these metropolitan cities to earn a living and support their families. The people have to live away from their friends and family to make a living. This makes them to settle in their places of work. Now to accommodate such a large workforce, there is a need for accommodation facilities to be provided to them. These buyers of flats or apartments do not demand very high. In the cities like Mumbai, Bangalore & Pune approximately 65 % of people inquire about the details of 1-BHK flats. The trends of 1 bhk flat for sale in Pune almost have been same as that of Bangalore and Mumbai for inquiring about the affordable housing in these three megacities.
The flats for sale in Pune are inquired by buyers or forced investors in the city for affordable housing. The sky high buildings of Mumbai, Pune & Bangalore seem to be going out of reach of middle class people. More than 50 % of calls of inquiries are for affordable 1 bhk in Mumbai, Pune & Bangalore on an average. The suburbs of Mumbai see a minimum of 75% of calls inquiring about 1-BHK housing. The other cities in India provide larger spaces to their people for more affordable housing of 2-BHK and 3-BHK flats. These cities include Ahmedabad, Chennai, Noida and Kolkata.
The flats in Pune have other trends to be observed. The inquiries of flat pricing of affordable 1-BHK or 2-BHK flats have been 53 % in the city noted by a private surveying agency. The new age buyers do not inquire for settlements in Mumbai but in peripheries such as Dombivali, Thane, Thane West and Navi Mumbai. This costs less and also comes under their budgets. A larger proportion of such people is salaried class and prefers to have affordable housing.
So according to the reports, the employment, manufacturing and information technology are driving forces of forced investments in real estate by middle class family people who in search of work and employment have to settle down in these cities and ultimately they have to go for affordable housing instead of a spacious housing back home in cities they have come from.
There are many people who just love luxurious life, and hence their home displays their style. One of such a leading personality is Bhushan Kumar who is also known as the Music King. In the days of cassettes, the sound recording and other businesses have made him get the position in the list of the richest man in India. For him, owning a house was a matter of style, comprehensive comfort and overwhelming utilities combined in a single package, as a result of the same he never believed in securing possession of an ordinary apartment that only serves as a medium to reside, not to rejuvenate. Each and every feature of his spectacular house Is the outcome of a combined ideology of him and his gorgeous wife, Divya Kumar. Their outlook towards the perfect residence gave birth to this lavishing house in Mumbai and also there is luxurious house of Bhushan Kumar in Delhi as well. These are the different special themes that every single floor is based on redefines the impeccability of the entire house.
A Peek into The Magical Building
Their house in Mumbai, houses five beautiful bedrooms is spread across four storeys, having inbuilt private professional gymnasium, tremendous terrace and numerous random spaces. All these outstanding components sum up in one of the most splendid spaces of today, not only this each floor is equipped with something peculiar and adorable.
Moreover, the house has been designed on the based on selective themes, and the same adds to the elegance and charm this amazing house showcases. The first floor comprises of a dreamy dining room, stylish living room,and an open style kitchen, on the other side the fourth-floor houses a glass roof that directs and opens up in the direction of terrace which is engraved with lawn and some extremely exotic plants. Moreover, there is a separate floor for bedrooms housing both vivid and small bedrooms, and rest of the floors occupies gigantic guestrooms and the sections secured for physical training.
Peculiarity That His House Emanates
Behind every section the house comprises of, there are numerous ideas that motivated this lovely couple to fill up the place with beautiful memories. In the memory of his late beloved father, Gulshan Kumar the house possesses a large temple having the same idols that his father had in the temple of his house. Moreover, the bedrooms symbolize love, and for the same reason, they were filled up with purple color. At the time when the house was under construction the Kumar’s waited eagerly for the birth of their new family member, and due to the uncertainty of a boy or a girl, the rooms were painted orange instead of pink and blue.
Being fitness freaks, both of them chose to have a 24/7 accessible gym that possesses all sorts of professional equipment. Moreover, the wide terrace never fails to offer a mesmerizing view of the horizon,and the balcony serves as the spot for daily tea breaks and relaxation for the family.
Although the majority of real estate developers have stayed away from new product launches since the demonetization move in November last year, a couple of new exciting projects were announced in the months of March and May recently. Let’s tell you a bit about each one of these new launch residential projects in Mumbai and what’s exactly on offer for the real estate buyers.
Emami Group – Sheth Corp backed ‘Montana’
Emami group has partnered with the Mumbai-based real estate developer Sheth Corp to build a luxury residential project in Mumbai, in the Mulund suburb area.
The group has agreed to a Rs. 350 crore investment. The luxury project will be sold under the brand name ‘Montana,’ and will be spread over an area of 7 acres. On offer will be apartments with 5, 4, 3 and 2 bedrooms, of various sizes. Both these companies have joined hands for the third time to launch a project in Mumbai. So, it’s not for the first time that they’re venturing together into new residential projects in Mumbai.
Speaking to the press, the chairman and managing director of the Sheth Group, Mr. Ashwin Sheth said, “We are already present in Mulund with our project Vasant Oscar and Vasant Garden which is a testimony to the kind of work we deliver to our customer. With this project, our association with our proud partners Emami Group, James Law, HBA Singapore and TROP will be stronger and long-lasting.”
Although Emami will be at the helm of the funding affairs of the project, Sheth Group will be mainly involved in construction, marketing, and selling aspect of it.
The joint chairman of the Emami Group, Mr. R S Agarwal said, “We along with Sheth Corp, had planned this project in 2015, and today, we are finally launching our flagship development in Mulund christened as Montana.”
Signet by Omkar
Another important real estate project to have been announced in the recent times is the Signet by Omkar. Omkar Realtors & Developers, which is a Mumbai-based real estate company, recently hosted a bustling gathering of over 1200 channel partners from Hong Kong, Singapore, Dubai, India and the GCC region. The company is recognized as a market leader in the redevelopment projects as well as the luxury residential constructions.
The promotional event was held for the launch of their new product – Signet by Omkar – to be developed in the Malad East region on Western Express Highway of Mumbai. The project will offer compact 1 BHK and 2 BHK apartments in Mumbai to buyers.
The primary aim of this gathering was to put this project in front of reputed channel partners, to evoke solid interest among their customer base, and in an effort to bring them on board with the Omkar family.
Talking to the press, the Director of Omkar Realtors & Developers Pvt. Ltd., Devang Verma said, “With almost 700 units on offer in this project, channel partners have a very good opportunity to make good business for themselves and Omkar Realtors. Omkar Realtors is already known for quality construction and timely delivery, which will surely benefit the channel partners to take Omkar’s new product to their customer base towards investing in this project.”
The project has already been well accepted by the channel partners, including some of the prominent NRIs based in the Asia-Pacific and GCC regions.
So anyone looking to buy property, especially the new projects in Mumbai, should definitely take a good look at these two recent project launches in Mumbai. They just might prove to be the exact investment you want to make! Both the products are backed by solid entities and can be expected to be delivered on time with the highest quality standards.