Sunteck Realty, the leading developer firm has had its eyes on Mumbai’s
With have raised about 650 crore with the help of a qualified institutional placement (QIP), the firm is now eyeing to take the revenue income to about 500 crore annually by investing in the given real estate. The firm has been around in the city long enough to qualify as a key investor and also owns a 23 acre area of land called the Sunteck City.
The feat marks a significant milestone in Sunteck’s plan of capitalizing on the hot favorite real estate segment in Mumbai right now – the office space. The realty firms already runs about 2,00,000 sq ft area of office space that generates about 20 crore annually. After seeing heavy investments made by ICICI bank and foreign giants into the same sector, the trend seems to continue quite healthily.
“We want to build a huge rental portfolio which is currently missing. The top global funds are aggressively for quality commercial assets. There is a huge demand for commercial office buildings and we may decide to REIT from that portfolio,” chairman, Sunteck Realty, said in an interview.
Recently, Sunteck has acquired 100 acre of land in Mumbai’s metropolitan area to welcome their new projects aimed at developing affordable housing society. This step is taken in the light of the fact that affordable housing is one of the key trends in real estate sector that is expected to hog in profits for developers as the demand for the same continues to rise.
The newly acquired land will be used to develop about 10 million square of sealable land that will act as a township for local residents. This deal is another feather in the hat for Sunteck realty who is expecting a net revenue of 5500 crores with this investment.
The project will be completed in coming six years and will be equipped with all the latest facilities one expects from such a project. Adding appropriate facilities to the affordable apartments, and shrinking down on covered area has been a favorable tactic that real estate developers are employing to keep the costs under check.
“This project marks our entry into the affordable housing segment and we will be developing it under a separate brand to differentiate it from the rest of our projects,” chairman Kamal Khetan told PTI. [source]
The Sunteck City is a breeze of fresh air for settlers looking for luxury accomodation at prime rates. Spacio Realtors are open for booking enquiries and personalised guidance for the ODC Goregaon West Sunteck City, and you can contact us for the same. We’ll get back as soon as possible to you.
We all dream of a home. In addition, we know at least one person who owns many. Well, to make this dream a reality, it requires savings of a lifetime and more years than we can count our fingers to purchase one or more. “Juhu” is one of the most sought-after, and dreamt about destinations to build a home. Why? You ask me. Spacio got your answers!
In the article, we will not only tell you, what makes Juhu a premier suburb of the city, but also the fact that why the prices there are at their highest?
With the spiking high demand rate for houses in Juhu, the place is fraught with endless opportunities as well.
From top public and private schools and colleges to best of teaching/coaching institutes, Juhu has it all. If you have lived or are living in Mumbai, you are very well aware of the fact that you would not want to be stuck in the road traffic. For that matter, locals strongly recommend getting a home nearby. There are both private and public sector institutions in there is an excellent atmosphere for students to study and get relevant exposure.
Home of the Infamous Juhu Beach, the place becomes a beauty. For decades now, Juhu beach has attracted countless people to walk on the sides every day. If you are a fan of Beach walks and would love your evenings gazing at the mesmerizing sunset of the beach, you better be booking aplace in Juhu. The entire Juhu borders the Great Indian Ocean, and who haven’t seen the incredible Shivaji sculpture.
Besides exceptional educational institutes, the place is inhibiting best of the hospitals, parks, and religious places. Irrespective of the religion you follow, you can find a magnificent monument in Juhu. Now, this is not all, the public parks are very thoughtfully built. For
The Bottom Line
For those who are looking for a property in Mumbai and are thrilled by the idea of getting one in Juhu, feel free to knock our doors to check your options. Spacio Realtors have been bringing value to hundreds of home seekers for more than a decade now. Considering never hurts anyone, so better check the options you have at the dream destination.
Although Indian real estate scenario has been a tumbling ride with occasional crest and troughs, the upcoming time could be a great news for investors. Especially in Mumbai, which is blooming with hundreds of new development projects. In a report by Forbes, it is clearly mentioned how big-time investors are making their move to strengthen the property sector of India.
In the recent turn of events, when the demonetization of certain currency notes took place in India, the overall business growth was hit, but the country is expected to overcome it within the first two quarters. So, now is the time when you can consider investing in Mumbai’s promising properties and find the home you would adore for your life.
Let’s look at how NRI real estate brokers propose, investing in real estate in Mumbai can be one of the better decisions you would make.
World’s biggest investor, Blackstone, after staying away from India’s property scenario has now finally showed some interest in it and has made promising investments weighing as much as $600 million. Future plans of Blackstone signify setting up of a local REIT listing, as this report by Times of India states.
Next comes Brookfield Asset Management, who have allegedly invested a hefty amount of $1 billion in Mumbai’s real estate. Both of these headlines point to the fact that Mumbai is receiving serious consideration from all over the world and the growth of property rates will be inevitable, telling us that NRI investment in real estate would be worthwhile in the coming few years.
With a horde of MNCs looking to set-up their offices in the financial capital of the country, the growth of business parks and corporate office spaces has been on an all-time high in Mumbai. This is being backed by development in Mumbai’s outskirt areas where property is seeing new light in both commercial as well as residential demands.
The implementation of GST in most parts of the country has resulted in huge outcry due to its complicated system of operation but in Maharashtra, it is supposed to bring an air of freshness for investors. GST will enable easy and profitable sale of properties in Mumbai that fall under the status of “completed projects”. For the projects that are still under development will benefit from the tax relaxations on the raw materials levied by GST. This is good news for NRIs as well as domestic investors.
All of the above listed factors contribute towards a future full of good returns. Mumbai’s real estate is rapidly blooming and as it continues to grow, the investments made today will reap in benefits in the future, although not so early. Hence, if you are looking to invest in property, now is the time.
If you’ve made your mind of investing in Mumbai or you need some in-depth information regarding our NRI property services, contact Spacio Realtors today and find the best places to bet your money on!
When moving to Mumbai, the most important decision is to identify the location of your new rented accommodation, irrespective of whether you are moving with or without your family. Many professionals locating to Mumbai without family assume that they can crash land and survive anywhere in this city. But the equation is not so simple especially when it comes to settling in the Maximum City.
Before you start finding and shortlisting apartments on rent, here are some do’s and dont’s which we hope helps you in making the right decision while selecting the location.
Where is your work location? Is it in South Mumbai, Western Suburbs, and Central Mumbai? You can find flats on rent in Mumbai anywhere and everywhere, but consider daily commuting that will become a part of your life as a Mumbaikar from the day you join your office. Choose a location which is closer to work so that you can save your energy and travel time. If rates are higher than your allocated budget for rented property, then you can consider settling down in the surrounding areas. For example, if your office is in BKC, you could find accommodation in Bandra East, Tilak Nagar, Kalina,etc.
While you would travel to work, if you are moving to Mumbai with your family, then your kids would travel to school or college. There could be a trade-off between the proximity of your rented premises to your office vis-a-vis how close you want your home to be to the college or school that your kids would be attending in Mumbai. But the point is same- travel time.
Find out how safe is the neighborhood for you and your family. In Mumbai, within the same area, you will notice that sometimes even within the same locality or area, the world changes between two lanes. So it is advisable that you personally go with your real estate agent and take a quick scan of the immediate neighborhood yourself. Other than safety, check the facilities and infrastructure available in that area including but not limited to healthcare, shopping, restaurants, entertainment, etc.
It goes without saying that do your due diligence in identifying the running rental rates in and around the residential areas which you shortlist. Hire a trusted real estate consultant who would educate you about the city. Alternatively, you may also check the reckoner rate for those areas. Reckoner rate is an official rate varying with areas, properties,etc and it serves as a good benchmark for property buyers and sellers.
This point overlaps with first three points- proximity to work, education centre, entertainment, medical facilities and shopping centers to say the least. But since we are talking about Mumbai where travel time is not calculated merely by distance but also by judging the state of traffic and time of the day, so we think connectivity deserves a special mention here. Local trains are the lifeline of Mumbai, but at the same time it is not everyone’s cup of tea and especially not so easily acceptable by outsiders moving to Mumbai. Unlike Delhi, Mumbai goes straight, so does the road connecting one end to the other along the coast. Roads are not very wide as one would expect from a flourishing metro, hence frequent traffic jams. So connectivity is an important aspect which you must evaluate before you sign the rental agreement with your new landlord!
People moving to Mumbai must consider short listing the location even before looking at properties on rent. Take help from your property broker to understand the city and at the same time explain him the types of residential areas you would prefer. That along with the proximity to work and other facilities must be considered well before even you start meeting prospective landlords.
Bandra- Kurla Complex or BKC is fast emerging as the preferred choice of MNCs, banks and financial institutions for setting up their offices in Mumbai. The planned development of this commercial hub in Mumbai brings with it the rise of residential properties in and around BKC.Location Overview of Bandra- Kurla Complex, Mumbai
|Geographical Information||Bandra-Kurla Complex famously known as BKC, was built on open land on the north side of Mahim Creek and is bound by the suburbs of Kurla in the east and Bandra in the west.|
|Very brief Summary of area||The BKC is a planned commercial complex in the suburbs of the Mumbai. The BKC is the first of a series of “growth centres” created to “arrest further concentration” of offices and commercial activities in South Mumbai. There are approximately 6 Lakh people working in various offices throughout the BKC.|
|Property Rates||Rs. 25000 – 35000/- psf|
|Real Estate Trends||Upward trend. BKC is home to some of the largest conglomerates in the world. Now developing ‘G’ Block where a new International Finance and Business Center is planned.|
|Residential / Commercial||Mainly Commercial, but now reputed builders are coming with residential projects|
|Neighbouring Areas||Kalanagar, Government colony, Bandra West|
|Popular or Known Landmarks||MMRDA & MCHI Grounds, Reliance convention centre, Income Tax Office, Bharat Diamond Bourse, ICICI Bank, The Capital, MTNL Telephone Exchange,|
|Connectivity||BKC is located between Bandra and Kurla, both of which are major railway stations on the Western/ Harbor and Central lines respectively, of the Mumbai Suburban Railway. Well connectivity to Western Express Highway, Eastern express highway, domestic & international airports The upcoming Line II of Phase 1 of the Mumbai Metro project will pass through the BKC & will have 4 stations near and within BKC.|
|Shopping||Bandra (W), Linking Road, Hill road|
|Food & Hospitality||It is home of finest hotels & Restaurants like Trident, Sofitel, Grand Hyatt, Taj Lands End|
|Entertainment||Mumbai Cricket Association, BCCI Club, MIG Club,|
|Educational Institutes||American School of Bombay, Dhirubhai Ambani International School, Arya Vidya Mandir, Mount Litera School International|
|Medical Facilities||Asian Heart Institute, Lilavati Hospital and Research Centre|
|Other Highlights||BKC has become a hub for all business ventures. The commercial development in BKC includes private and government offices (state and central), banks, wholesale establishments, etc. and provides ultimately about 2o lakhs jobs in the area|
More About Bandra-Kurla Complex
Witnessing steady leasing activities for front office spaces and is developing fast enough to compete with Nariman Point and Fort which comprises of the current Central Business District of Mumbai. Whether in future this development sustains or not would largely depend on the supporting infrastructural network growth, but as of now this growth is driven by the demand supply ratio.
Kalina and Kalanagar are close to BKC within 5-10 minutes drive, whereas Tilak Nagar, Sion, Kurla and Vakola are 15-20 mins drive away. Proximity to office spaces has led to an increase in the demand for housing in these areas. Andheri and Goregaon in the west and Kurla and Ghatkopar in the central suburbs can be reached within a half-hour drive. But new and under construction residential properties in BKC itself are mostly luxury apartments and ultra-premium category duplex and penthouse offering modern infrastructure and high end amenities with target buyer as senior management personnel of large banks and corporate houses and even the diamond business owners.
Spacio Realtors and Advisors Pvt. Ltd. is the Mumbai residential and commercial property specialist. The company’s core function of Buy-Sell-Rent is accompanied with consultation in real estate investment opportunities, managing client property investment portfolios and even tax & legal advice on property related matters. Need help to locate a property in India? Tell us your requirement.
If you are thinking about investment in Mumbai real estate, then don’t ignore this island city’s emerging neighbors.
Navi Mumbai real estate has witnessed impressive growth and is among the high appreciation areas in this region for property investors.
Navi Mumbai is seeing lot of infrastructure triggers like New International Airport, Trans Harbour Link, Planned development, multiple metro Rail projects etc. Property investors are investing their money in Navi Mumbai real estate expecting high returns in future, especially in strategic locations closer to the airport. Trans Harbour Link project wll not only improve connectivity between Mumbai and Navi Mumbai, but is also expected to improve demand of residential properties in adjacent markets like Dronagiri and Ulwe.
According to Mr. Sunil Chopra, Head of Spacio Realtors and Advisors Pvt. Ltd. in Mumbai, amidst all the things happening in Navi Mumbai, the best area to put money in real estate are:
From the point of view of investors looking at property appreciation parameter,Palm Beach Road,Khargar and Belapur have already appreciated significantly over a period and the population in these areas has also witnessed a steep rise.
There is another reason for rise in demand for residential properties in Navi Mumbai. Due to better price and economies of scale, many commercial entities are moving out of Mumbai to Navi Mumbai. As a result the demand is coming from people who wish to stay closer to work, generating high interest in developers of residential properties.
Once this new Airport becomes functional, all related businesses like transportation , industrial etc would flourish in Navi Mumbai and even more job opportunities will be created there.
The state-run City and Industrial Development Corporation (CIDCO), a nodal agency for the proposed Navi Mumbai International Airport, has teamed up with Accenture, SAP, Stockholding Corporation and Zensar to develop Navi Mumbai as he first smart city of Maharashtra by 2019 (source: Business Standard) As a part of this project, CIDCO is also developing a modern township in Pushpak Nagar adjacent to the international airport.
Looking for property investment advice or real estate brokers in Mumbai? Spacio Realtors provides a range of real estate investor services including assisting in identifying and evaluating investment properties in and around Mumbai, managing property investment portfolio for investment enthusiasts, rental property management services and property legal & tax advice. In fact, real estate advisory services provided by Spacio are ISO 9001 certified.
Connect with one of our experts. We look forward to helping you with your real estate needs.