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Wednesday, February 24, 2016

Omkar Altamonte Malad East

Omkar Altamonte Malad ( East )

O/r Deals
2 bhk Series '2' Around 20 @Rs 2.30 cr
2 bhk Series '1' Around 12 @Rs 2.22 cr
3 bhk Series '7' Around 15 @Rs 3.50 cr
3 bhk Series '8' Around 30 @Rs 3.50 cr 
2 bhk Series '4' Around 15 @Rs 2.45 cr
2 bhk Series ' 5&6' Around 25 @ 2.45 cr
Jodi Multiple options All series @ 5cr
3 bhk Series '7' Below 10 th Rs 2.80 cr

Rental Deals
2 bhk Series '5' Around 30 @ 41000
2 Bhk Series '4' Around 20 @ 50000
2 Bhk 3 & 4 no Jodi Around 20 @1 Lakh
2 Bhk Series '6' (7 options )@ 42000
3 Bhk Series '7' Around 20 th @ 65000
3 Bhk Series '8' Around 15 th @ 65000

All Deals are nego genuine offers can be accepted

Regards
Abhishek S Kyal
Email - abhishek.kyal@gmail.com
Company Name - Mangalam Associates
Mobile - 9930825218
BB PIN - 20FB5E21
Blog- http://mangalamassociates.blogspot.in/
Like us - www.facebook.com/Mangalam.Associates
(Main area Borivali to Goregaon operating till Bandra)

Shop No 2,
Unique Garden CHS, 
Malad Link Road, 
Near Landmark Hotel, 
Malad (West),
Mumbai - 400064

Sunday, February 21, 2016

Mumbai's Bandra Kurla Complex attracting home buyers

Mumbai's Bandra Kurla Complex attracting home buyers

Namrata Hazarika | February 18, 2016 @ 05:34 PM

Bandra-Kurla Complex (BKC) a major business hub in Mumbai is emerging as a top commercial destination. BKC was created by the Mumbai Metropolitan Region Development Authority (MMRDA) to provide commercial set-ups in South Mumbai. 

BKC is known as an important business district of Mumbai and a base for financial services firms in India, backed by robust infrastructure development in the region. According to CBRE's semi-annual Global Prime Office Occupancy Costs survey, Mumbai's BKC ranked 15th in the ‘top 50 rankings for global prime office properties’. It is a prime commercial hub for corporate firms from the financial sector. In the last 10 years, commercial office stock has grown by more than 300 per cent.

Due to commercial development, there was residential augmentation too. Various factors have increased the popularity of BKC not only among end-users and investors but also among consulates coming here for work. In fact, people from other parts of the country chose to migrate to the city for better job opportunities and growth.

Why is BKC considered an investment hot-spot?

The area has well-developed infrastructure and regulated traffic conditions. The airport is just at 4-km distance from BKC. In fact, the residential areas also have the presence of two important schools such as Dhirubhai Ambani International School and the American School of Bombay. Both these schools are located in the high-end residential colony - Bandra.

The locality has an established social infrastructure comprising of bus stops, shopping malls, hospitals, metro stations and restaurants including others - all within a 3-km radius. According to Magicbricks locality rating, public transport is rated high - 4 out of 5 stars. This makes the place easy for commuting.

Price factor

While prices in BKC are in the range of Rs 40,000-50,000 per sq ft when it comes to a reputed developer, prices in Bandra East, the new micro-market, ranges between Rs 25,000-35,000 per sq ft. Prices vary depending upon the exact location of the house, brand of the developer and the amenities provided to end-users. The average capital values of housing units in BKC range from Rs 45,000-55,000 per sq ft. BKC is a sought-after locality by the ultra-high net worth individuals, most of whom call Mumbai their home. 

Kurla is in proximity to the established business district of BKC. Kurla has also witnessed increased activity with many large residential and commercial projects being developed in these markets. The average capital values range from Rs 20,000-40,000 per sq ft.

Dhanraj Suvarna, manager-residential, JLL India, says, “The real benefit would be to areas outside BKC and not just around it. When buyers plan on investing in BKC or Bandra, they are definitely not talking about affordability. There are takers even for flats priced in the range of Rs 70,000-75,000 per sq ft in Mumbai; so at existing rates, BKC’s pricing is not crippling when it comes to actual buyers.”

BKC’s proximity to workspaces is the most obvious reason why residential units, catering to high networth individuals (HNIs), are coming up here.


Bandra Kurla Complex mumbai

Source: Magicbricks.com

Smart facility

There is a need for further development in this area. As the government is focusing on Smart City development, there should be Smart facilities available as well. Some of the expected Smart features that can be implemented in BKC are free hi-speed internet, Smart parking lots with electric cars, street lights with motion sensors and advanced CCTV networks. You can also count on friendly mobile app to help citizens use these facilities.

A Smart business district means the vicinity and real estate projects would be the ultimate beneficiaries. The government is proposing to allocate funds for development of civic amenities. “If these funds are rightly allocated, the residential sector would be positively impacted and the area would become cleaner,” says Rahees Rijwi, realtor at Confirm Deal.

We hope that with the implementation of right technology, BKC can further attract home buyers and build a Smart locality within Mumbai.

Namrata Roy, Magicbricks Bureau

BMC set to release revised DP by February 2016

BMC set to release revised DP by February 2016

Mumbai

The new launches have drastically slowed down in Mumbai. A perception has gained ground that the less launches are due to slow sales, liquidity crunch of the developers and other market realities. Though these reasons cannot be ruled out behind some setbacks, Mumbai's real estate market has been on a 'wait and watch' mode for quite some time for another significant reason confusion with the new DP (Development Plan).

It has, as a matter of fact, impacted the new launches in the city more than any other factor. The developers do not wish to launch a project now and within a few months, find themselves in a position wherein they would have to rush to the Brihanmumbai Municipal Corporation (BMC) for further changes. The BMC is expected to release its revised Development Plan by February 2016. Last year, the draft DP led to confusion in the market where both, the developers as well as the citizens, pointed out glaring errors, leading to the removal of the then municipal commissioner. There were about 8,500 suggestions and objections to the draft DP. The developers also maintain that this led to the delay in many new launches.

Dhaval Ajmera, director, Ajmera Realty & Infra, points out that the confusion that has happened with the proposed DP is the primary reason for the slowing down of the new launches in the last one year in Mumbai. The DP is now being rectified, as there have been confusions, wrong reservations that have been filed. Probably, certain places that were earlier declared as residential areas are now under another reservation where the developer cannot launch the project as it is wrongly demarcated. Hence, until the reservation is cleared, launches have had to take a backseat. "There are instances where a property declared as a completely residential zone is now partly claimed under the reservations. Hence, if the developer has planned a project in a certain area, it gets affected due to the partial reservations, thus impacting the launch of the complete project. This definitely affects the developer majorly, as the finances are stuck. Keeping in mind the confusion in the draft development plan, it is taking long to solve and we hope to get it resolved probably by May this year," says Ajmera.

Parth Mehta, managing director, Paradigm Realty, maintains that where land has been already acquired or development rights have been already obtained, there the developers are left with no choice but to go ahead with the prevailing DCR (Development Control Regulations) and commence their construction process but provisions for extra FSI can always be kept in planning provisions. "For developers who are looking at a potential, new acquisition currently, there is a 'wait and watch' scenario with reference to permissible FSI and new approval policies. And wherein the developer has received the complete approval and where construction activity is visible at the site, there indeed, sales are still happening -may not be at a very high velocity but apartments in projects by credible developers with a delivery track record, are selling, backed by complete approvals in place, home loans facility tie-up with banks and subvention schemes offered by financial institutions," says Mehta.

Vipul Shah, managing director, Parinee Group, on the contrary, believes that the developers are going ahead with their existing development plans as the new DP has taken a lot of time. However, because of the delay, there is a lot of confusion in the industry. This should have been avoided. So, the sooner the new DP is released, it would bring clarity to benefit both, the real estate industry and the consumer. "The old DP and the expected new DP has taken a long time and there still exists a lot of ambiguity, which in turn, has created a huge confusion in the industry resulting in the imbalance of the realty eco-system. Initially, the sales were a bit slow but buyers are waiting to buy the right project as we have seen in the case of a few new launches proving the market is looking up," says Shah.

The developers demand that the new DP will indeed have to be released keeping in mind no area-specific FSI imbalances. There will have to be a balanced distribution of FSI to ensure an optimum supply of new inventory in locations.

This also raises a fundamental question as to what extent slow sales have affected the new launches and to what extent the DP confusion has been the catalyst. Most of the analysts tracking Mumbai's property market agree that the liquidity crunch, an uncertain job scenario, a lack of visible parameters for business growth have kept people on a wait and watch mode.

As far as home buyers are concerned, there is a general belief that the confusion has also affected the home buying decision of prospective buyers as many of them are so well-informed that they anticipate a significant price correction once the new DP is implemented.

Developers nevertheless, maintain that the price correction has already been factored in today's prices, backed by eased-out payment plans. Hence, prices going below this point will not be a viable proposition for the developers considering the high input cost but the new launches have been definitely impacted as the developers are in a dilemma whether to wait for the new DP or go ahead with the current DCR. The developers hence demand that the new DP should be in sync with the government's loud claims of facilitating 'ease of doing business.'

Ravi Sinha, Times Property, The Times of India, Mumbai

Know the most expensive streets of pune

Know the most expensive streets of Pune

Editor | February 18, 2016 @ 01:16 PM

Pune is home to some of the biggest names of tinsel town, some of which includes Rishi Kapoor, his son Ranbir Kapoor, Sussanne Khan, Pooja Bedi and Sanjay Manjrekar. This destination is expensive, non-intrusive and offers full privacy to its residents. Pune has always attracted buyers of various segments.

From affordable to mid-segment buyers to luxury home buyers across borders, the city always has something to offer each of these segments. In the case of luxury buyers, along with the benefits mentioned, there is the ancillary benefit of unmatched property prices. If you are keen on investing in a higher priced property, then Magicbricks brings you a list of the top expensive locations of the city.

Boat Club Road

Boat Club Road lies exactly in Pune’s city centre and therefore commands a heavy premium. The locality is home to the who’s who of the town and offers property options costing above Rs 3 crore. There are a number of projects which have come up recently while few are still awaited. This is because very recently the German consulate auctioned a 3-acre land parcel which was bought by a residential project developer for Rs 168 crore to develop housing units. Although not much has been revealed by the developer but a luxury project seems to be in the making.

Koregaon Park

Undoubtedly the swankiest locality of Pune, this has to be a part of this list. Apart from offering expensive properties, Koregaon Park also offers dense green cover which attracts the well-to-do buyers. Earlier, the locality was a choice for bungalow buyers only. This changed when the Osho Commune settled here. Today, a range of serviced apartments are present to accommodate international travellers. Koregaon Park now also has countable multi-storey buildings, offering only large sized units to suit the taste of the wealthy buyers.

Kalyani Nagar

Acclaimed as the heart of Pune city, Kalyani Nagar entered the list of the most expensive localities because of the very famous Trump Towers. The owners in this area include some of the known personalities from Mumbai, NRIs and rich industrialists. Although it is one of the oldest areas of Pune, it is still preferred due to the availability of basic as well as high-end amenities in close proximity. Needless to say, the social infrastructure of the locality is well established.

Aundh                          

While Koregaon Park and Kalyani Nagar are gems of East Pune, Aundh caters to the super rich buyers of the Western quadrant. Fancy interiors, sundecks, wooden flooring and what not - few projects in Aundh classify as the city’s most luxurious real estate options. Owing to its proximity to Hinjewadi, 

Aundh remains one of the favourite places for migrants who are employed in the Rajiv Gandhi Infotech Park. Almost every reputed builder has his project here, catering to the natives of Pune who are traditionally rich and don’t mind living a little away from the city, if it means being close to nature and the Mumbai-Pune Expressway.

These localities are not just a status symbol, but even the returns on investment are almost at par to the sum invested. Check the graph:

pune luxury property market

Apart from the mentioned localities, Market Yard, Sopan Baug and Senapati Bapat Road are other areas where property prices are very high but they do not have swanky tags.

Pune has always been the choice for those looking for private spaces rather than truly plush ones with elite class amenities. This is the reason the builder community seems positive about this segment. However, as an investor, you should make sure that you get what has been promised and ensure the quantity of amount drives the quality of amenities.

Magicbricks Bureau

The expat grievance cell

The expat grievance cell

Editor | February 17, 2016 @ 11:13 AM

Mumbai

For most of the expats who swarm onto Indian soil every year in large number and find themselves in a completely alien land worsened by unbearable heat; a small space, which they could call 'home' becomes a priority. That becomes their world around which they re-organise their lives. It is also a space wherein, they revisit their own identities and redefine new ones. And thus, the struggle begins especially in a city like Mumbai right from finding a broker to the search for a compatible landlord or a good society. And in case they are actually investing in a property, the fight becomes even tougher. There are so many nitty-gritties to be looked at the often smaller windows in the Indian apartments; the faulty plumbing; the unnecessary walls; so on and so forth. Then, there are also neighbour issues, maid issues, privacy issues.

More often, the spaces disappoint them and do not match their high expectations. For Vipin Jain, chief technology officer of Saffronart, who was born in India, lived all his life in the United States and then recently moved in to India; housing woes are indeed a sensitive issue. "I've had a harrowing time looking for a rented apartment at a prime area in Mumbai. Though I had a pretty decent budget, the apartments shown to me, had shabby looks and unimpressive interiors. Most of those were in a run-down state despite the high price that was expected to be paid. Or, there would be no open space overlooking greenery. Sometimes, the kitchen would not be well-equipped with proper cabinets. Construction, flooring would be bad. In one of the houses I stayed in, I had to meet the management committee, wherein, I was asked personal questions like 'who comes over to your apartment for an overnight stay?' which is ideally nobody's business."

Then there are also concerns related with high brokerage, high deposit. "Once I had almost decided on a house and paid a high deposit. For some reason then, I changed my mind. The broker refused to pay back the deposit. I let go of that and shifted to another house," adds Jain. Basically, people agree to something and then back out due to insecurity.

For similar reasons, a lot of expats have gone back to their respective countries. According to brokers, expats are hard to please. They often have strange demands when it comes to their accommodation such as a particular, unique kind of shower in the bathroom or an open kitchen, a small room for their pet dog, kitchen garden, and such others.

However, expats still feel they get exploited heavily by the people here. UK-born, 45-year old Daniel Carroll, a businessman based in Mumbai, who has been living in the city for over two decades now, says, "I've had to go through at least twenty brokers before I could zero in on a house, in early 2000. I have a pet dog. A lot of the landlords had issues with my pet dog," he guffaws. He clearly feels there needs to be more transparency into this space since there is huge value in real estate in Maharashtra. The situation worsens when it involves a single, female expat.

Take for instance, Raquel Sanchez Toston, a Spanish dancer, who has lived in Mumbai for a decade now. "There is a lot of difference between Europe and India when it comes to rented apartments. It's easier to find a good-quality, well-furnished house in Spain at the rate we have had to shell out for a vacant apartment in Mumbai," she feels. Additionally, she adds, "Most of the houses need a lot of repairing, for which we have to pay. And then there is money to be spent to furnish it. Construction and electrical wiring are not adequate. Also, there are biases about single women. In one of the places I have stayed in; I was asked to leave within three months, despite signing an agreement."

"I have had to face biases related to my pet cat. And also, when I would keep potted plants outside my door, some neighbours would not like it," Toston quips. Expats bring in a different mindset, expertise into our country, which definitely benefits us to a great extent. Hence, if we want to retain them, we need to understand them better and cater to their needs. Otherwise, who knows, other south Asian countries might woo them back.

Meghna Maiti, Times Property, The Times of India, Mumbai

Co-working is Mumbai's new corporate cool

Co-working is Mumbai's new corporate cool
Ismat Tahseen
Low rents, full facilities and flexible space is pushing away the conventional `office' for city's entrepreneurs
Work with someone is getting a new flavour with this Co-working, or using an office fad.or other working environment by self-employed or working people for different employers, to share ideas and knowledge, is changing the way people function, across the globe. It's being hailed as the spotlight trend of 2016, and if you haven't tried it yet, here's more reason why you should.

POCKET-FRIENDLY

The idea is a winner, alright! You're getting a formal work environment with a desk, chairs, use of a conference room, Wi-Fi, photocopy machine, printer and more, without really investing in an `office' so to speak. The emergence of co-working spaces with low-cost memberships has become so appealing to small start-ups that a whole lot of entrepreneurs, consultants and others who want a flexible yet professional work environment are opting for this.

Says Rhea Kulkarni, who decided to try this a few months ago, “I moved out of my old space as the rent was too high, and decided to cowork with a friend at Parel. It has brought a bunch of benefits like a clean working area, no need for rents and I have the flexibility to move out midway if things sour and I want to discontinue.“

Adds another young entrepreneur Ritesh Sharma, who took his work of writing jingles and making web designs for corporates, into such a workspace. “For a startup like mine, I just needed a small area to work in, minus the hassle of spending on infrastructure. Here, I'm getting both ends -I have a focused environment and at times, its also like an intellectual hub where we brainstorm with other coworkers over coffee,“ he grins.

COMMUNITY DRIVEN

Like in all work-driven areas, the focus here are people. Says Preeti Dawane, codirector of a co-working space at Mount Mary, Bandra. “Entrepreneurs benefit from a community of like-minded folk and we have seen that there's a lot of bonding that happens, ideas spark off among strangers and it's a great feeling all around.“

Gargi Shah founder of such a space at Mulund had people working on everything from robotics to guitar sessions, apart from regular e-commerce and retail entrepreneurs. “I've been told people feel like they can live out of the space,“ she smiles.

For Deepak Ratnani who started a 750 sq ft space in the suburbs, says, “ There is a definite demand for this model and it's rising, especially among Gen Y; I guess the bottom line is the cost factor.“