Tag Archives: luxury properties in navi mumbai

What precautions you should take with the rising building collapse in Mumbai?

Lately, there have been many cases of building collapses, which is badly affecting the real estate market of the city. The alarming rate has bought under the radar the poorly constructed structures and the old buildings that require immediate attention from the government authorities.

Let’s get to know the reasons behind the recent collapses:

  • Poor construction on part of the developers
  • Using land illegally to develop buildings
  • Violating real estate policies
  • Construction done in haste
  • Lacking required approvals & certifications from authorities

The reason that locations like Thane, Dahisar, Ghatkopar and other towns have seen destruction of such structures is the rising population and land shortage in the metro city, which giving opportunities for bogus developers to construct modern building with poor materials.

To ensure that you do not get entangled in such situations, here are some precautions you can take:

Look for earthquake resistance properties:
hqdefaultNow-a-days, almost all builders are constructing properties which are earthquake-resistant that makes a structure capable to withstand seismic waves. Earthquake resistant buildings are often fitted with bolts in the foundation. One can also consult an engineer for inspection of home to know if the home is earthquake resistant and safe.
When it comes to checking the legal foundation of a property, you can ask to the builder/developer for a foundation certificate of a property.

Beware of construction land & area:
map-mumbai-new-01Residential properties constructed on commercial zone are considered illegal. To examine land record, you can seek help from RTI, as well as obtain details from online portals of state governments. Moreover, builders are required to get structural design cleared from authorities & certified from registered structural engineers.

Check for legal approvals:
housing-approval-from-councilIn case of under constructed properties, it is mandatory to evaluate approvals and certifications, including sale deed (a proof of sale), mother deed (helps to trace antecedent ownership of the property) certificate of commencement, NOC, Booking form, allotment letter, BBA, completion certificate, occupancy certificate, encumbrance certificate, among others.

Building codes:

BuildingCodesBefore a prospective buyer decides to invest in a property or buy a new home, it is mandatory on their part to check for building codes, which is basically a set of regulations by the Indian government related to design, construction, alteration and maintenance of buildings.

So, the next time when you’re searching for homes, do keep in mind these points. If you’re looking for earthquake-resistant properties in Navi Mumbai or Mumbai, get in touch with Akshay Argade, where you will find luxury properties in  Navi Mumbai and Mumbai.

The New Age Buyers: How The Millennial Trends Is Redefining The Real Estate In India

Property investment is one of the most important decisions and making sure that you pay attention to every bit of the home buying process is necessary. Searching for your dream home is definitely a tumultuous ride as you come across ads that you will find on social media, newspapers, TV or for that matter on radio. Although, finding homes is still an essential phenomenon, but the parameters of purchasing a new home in Navi Mumbai have not remained the same as earlier. This is collectively due to urbanization, shifts in family structures, spending patterns & many other factors. The new age buyers are redefining the norms of moving into a new home. Related to this, a study indicates that 65% of millennials aspire to buy a property in the future without compromising on the quality of life.real esate(3)

Rental Homes:

Indian millennials consider renting out spaces as the best option rather than purchasing a new home. According to a survey carried out By the world’s largest real estate consulting group, CBRE Group Inc, indicates that 82% of Indian Millennials live with their parents and 25% of these have no intention of leaving the family home and 25% of Indian Millennials have no intention of leaving the family home.

Social Media:

Digital savviness and millennials go hand-in-hand as they are the first generation to have access to internet right from their adolescence. This generation of audience is more inclined towards technology and the Internet. Right from shopping to searching homes, Millennials are more influenced by visiting social media & other websites when they want to invest in a property.

The use online resources are not just limited to search of new homes, even when calculating mortgage costs or getting loan approvals, Millennials chose the internet medium.

More Transparency:

The generation seeks transparency when buying new homes. While researching for homes, they always prefer to do 80% of inspection themselves as they value transparency rather than risking in half-knowledge information. They believe in being 100% sure that their investment has proper returns.

Location Convenience:

When buying a new home, millennials consider choosing a location, which gives them the flexibility to be close to their workplace. In addition, this indicates that convenience is an utmost priority for the crowd as it allows them to spare time engaging in social activities at large.

The trend of home buying strategies among millennials is changing, which means real estate developers in India would have to use new marketing methods to reach new prospects. If you’re looking out for luxury properties in Navi Mumbai, visit our website.

This year, buy your dream home in Navi Mumbai

dreamhome

It is said that 2017 is the best period to invest in a new home in Navi Mumbai. Leading banks like SBI, ICICI and HDFC have lowered their interest rates on home loans. It’s not just the monetary benefit associated with property investment, even some changes in real estate regulations would work in favour of home buyers.

The recent budget 2017-18 announced the rule of infrastructure status to affordable housing, which has resulted in higher demand and pushing the sales of apartments in Navi Mumbai. Even developers felt the pinch of the new rule and constructing properties where affordable housing has a high demand.

RERA (Real Estate Regulatory Act) which came into force on 1 May 2017 will restore the confidence of consumers in the market. In fact, this new regulation will also aid to bring transparency in the construction of properties. Whatever information given by the developers regarding the amenities and facilities of the township, RERA makes it mandatory for developers to offer the same as promised. RERA commits to assure customers of timely delivery and unparalleled quality.

In addition, the upcoming taxation system called GST (Goods and Services Tax) will come into effect in July 2017. The new tax regime will replace service tax and value add tax. These regulations will have a positive impact on the real estate as a whole. In fact, by taking into account all these changes, home buyers will be encouraged to invest in a new home in Navi Mumbai. And, undoubtedly 2017 is considered as the best time to make your investments count.

If you’re still wondering whether you should invest in a new home? Then choose Navi Mumbai for your dream home. Here’s some fact to clear your confusion. In 2014 and 2015, around 16,000 units have been sold in the Mumbai Metropolitan Region (MMR). Put your worries to rest by choosing profitable locations like Kharghar, Dronagiri, Panvel, Taloja, Ulwe, among others.

It is recommended to give less preference for under-construction properties considering the delays and tumultuous nature of the real estate in India. When you’re looking for home in Navi Mumbai, opt or ready-to-move apartment which has a tax benefit on home loans, zero delivery risk and promises a good return on investment.

Navi Mumbai will continue to be a trending location due to significant infrastructure developments like the airport, metro railway and ease of transport, which makes it an attractive location among home buyers.

So, buy a new home in Navi Mumbai. If you’re looking for any kind of assistance for your ideal dream home, get in touch with us. Visit our website to get exclusive deals on properties in Navi Mumbai.

Planning to buy a residential property? Some useful tips

Owning a residential space is a dream that everybody loves to see and a task to be achieved in life. With the rising cost of real estate, buying property is no more that easy. However, what everybody makes sure is that to at least buy a residential space for themselves. So are you in the phase of planning a residential property? These tips will definitely come in handy for you. Check them out.

1. Buying a property, and specially if that’s a residential one, the excitement is the thing that surpass all other emotions and also sometimes gets in way of thought-process and decision-making. So hold on, stay calm and be careful such that your excitement doesn’t overpower your decision. Make wise decision that is profitable for you. Always remember that the deal that’s profitable for others may not hold good for you. So take advices but make your own decision.

2. Before going forward with any property, care to check the papers, permissions and clearances. Remember these are more important than the floor plan of the property. Most of the time, if you are buying a property in its nascent stage, there are chances that the cost gets lowered considerably. But the developer may still not have all the permits and clearances. So take care to verify them and also to be assured that at least they have a sanctioned construction plan, others may come in course of time. In case of a second-hand flat, be careful to check out that all its due taxes are cleared before it get registered to your name.

3. This point mainly comes into play if you are going for a new project. Before going forward, take into consideration all the related costs. Most of the time what is marketed is the base amount. You may jump in thinking that it suits your budget and make the down payment. But soon you will realize that there are more into it. Registration of the property, insurance, taxes, association registration, etc. are huge enough to fail your budget. Always consider that you have to shell out about 10 to 15 % more than the reflected amount. Plan your budget and look for properties accordingly.

4. This point personally holds much importance for me. See if you are also on the same line. If you are buying a residential property, always set your priorities correct and beforehand and stick to it. For example, suppose you are buying a flat to stay near your workplace, and it should be easily commutable and that it should have good facilities and so on and so forth. Therefore your priorities are 1. workplace, 2. easy to commute 3. good facilities. Start looking for a property that is on first hand near to your workplace; after that criteria is fulfilled then look forward to its communication options and then to the facilities. That way you will not deviate from the main reason for your buy and also can stay streamlined in your decision-making process. Suppose you end up buying a flat with wonderful facilities but far away from your workplace, eventually your need will seem not satisfied.

5. The final one is relying on a dependable property broker. Everyone has their own expertise. You may not be an expert in studying projects, its appreciation and depreciation value, loans and taxes. But a good is. Therefore it is always better to rely on a good and reputed for getting the maximum profitable deal and also to ease out the other official processes.

Finally, all the best for your venture!