Is your House close to a Transit Point?

Do you live near a potential transit spot? The combination of mass transport systems such as the metro, railways and monorail will create prime new locations in Mumbai and add value to your property in ways more than one. If you live along one of the transit points that will have an overlap of transport systems (metro and railway), like Ghatkopar and Andheri, the value of your home will probably appreciate more than you could have ever hoped for. The railways and metro officials have begun work on a plan to build infrastructure that will decongest these meeting points after Ghatkopar and Andheri stations saw unprecedented crowds this monsoon.

Meeting points to look out for: DADAR – The station is already an important meeting point between the railways (both, centra and western). It will be further vital as the Colaba-SEEPZ Metro line will also touch the station. The Metro line overlaps with Mahalaxmi station (WR) and Bandra, and will provide a new access point to the harbour line via Kurla. MANKHURD: This transit point is important as it will lead to the upcoming Navi Mumbai International Airport at Panvel. Mankhurd Metro station will overlap with the railway alignment of the CSMT-elevated corridor. BHIWANDI: The fifth line of the Metro will include Bhiwandi as no railway station currently exists around the area and commuters have to alight at Diva station and make their way to the suburbs. The line will coincide with the railways’ plan under Mumbai Urban Transport Project 3 along the newly proposed Panvel-Karjat corridor.

Source: Times Property, Saturday 16 November 2019

Mistakes to avoid while selling your own house

So, you have finally made up your mind to sell your house? Whatever be the reason for making the big ‘S’ decision, you could ensure a good price if you avoided these 10 mistakes:

Going solo: Trying to get someone to buy your home on your own dint through references or word of mouth may seem like an easy way to avoid paying commission. But the flip side is that you are bound to miss out on a real estate agent’s market knowledge, contacts and help with the process. A real estate agent is key to a successful – and less stressful – home sale. So, if you’re looking to sell your home for its full market value, professional insight is more likely to get you there. Waiting to Sell: There may be peak times like before auspicious days in the calendar or before the schools reopen, but that doesn’t mean you should wait months to put your home on the market. The need for a house may arise for anyone at any time of the year, so press the ‘sell’ button as soon as you are ready to do it.

Pricing too high: You may feel that your dream home deserves the highest monetary value but it is also necessary to be realistic about the actual value of the property and how buyers perceive it. If you put a big tag on your home, chances are you’ll eventually need to lower the number, but the peak period of activity that a new listing experiences is already gone. For that reason, it’s important that your real estate agent is honest with you about what your home will sell for, based on the recent sales of similar homes in the area. Not ready to make changes: Homebuyers today want to check out places that they will be comfortable to live in. So, if you are hell-bent on selling your home as it is, it may act as a definite hindrance. A fresh hand of paint, repairing some breakage, sorting leakage issues etc could make it more desirable for prospective buyers.

Source: Mid-Day, Friday 22 November 2019

Keep calm & invest wisely

In the light of the recent bank fraud, the importance of staying vigilant about your money cannot be emphasised enough, especially if you are a prospective home-buyer. Experts tell you how to park your investments wisely and safeguard your hard-earned money. On the face of it, the residential realty market is going through a contradictory phase of high-demand boosted by government sops such as PMAY and reducing interest rates, while also witnessing severe funding crunch among developers due to which many high-value housing projects across the country are left incomplete. Safeguard your Savings: Many savers tend to hold one bank account throughout their lifetime. However, given current situations, depositors should diversify their savings between PSBs, private and co-operative banks, in a 40-40-20 per cent ratio; Although co-operative banks give higher interest on savings accounts compared to PSBs and private banks, keep your exposure low as they have lesser regulator control.

Source: Times Property, Saturday 23 November 2019

Goregaon: The go-to vicinity for home-seekers

Goregaon is a popular Western suburb of Mumbai. The IT hub, Filmcity (and many more film studios), the Aarey Forest and popular malls makes Goregaon a socially active area attracting residents to this happening part of town. Goregaon is one of the most popular areas locate along the Western Suburb of Mumbai. It has lately emerged as a new hotspot for real estate investment. It has transformed tremendously in the last few years. Today, Goregaon has grown way beyond this. It has a fine network of well-planned roads connected to the main road, i.e. S. V. Road and Link Road besides Goregaon Station. You will find plush shopping malls, renowned educational institutions, entertainment spots, and popular food-chain outlets. Its proximity to Andheri in the Western Suburbs and Powai in the Central Suburbs has contributed to it becoming a preferred choice of both property developers and home-buyers. Connectivity: Goregaon West has good connectivity to W.E. Highway and other parts of the Mumbai city. Goregaon station is being expanded as part of the Harbour line extension project, and will thus soon be linked to Andheri on the Harbour line as well. Goregaon is also well connected by bus, with routes linking both the Eastern and Western sides of the suburb to all parts of Mumbai. The Mumbai Metro Line along the link road and the western express highway is sure to boost the connectivity with the main city. The 15km Goregaon Mulund Link Road will provide much-needed connectivity between Western and Central Suburbs. The Domestic and International Airport is a merely 20-22 minute drive from here too. It has very convenient and affordable network of BEST buses.

Source: Mid-Day, Friday 29 November 2019

Self-Redevelopment DIY

The next trend in the real estate sector is ‘self-redevelopment’, and housing societies, no longer wishing to depend on a developer, are taking matters into their own hands. Here’s how you can secure your dream home – by building it yourself. If you are wondering what self-redevelopment entails and its pros and cons, allow us to help you. The New Price Point: “Self-redevelopment does not only provide the assurance of time-bound, cost-controlled and predictable results, but also brings down the cost of surplus apartments as opposed to the prices of flats being inflated when a developer is involved, since his sole objective is hefty profit margins. In other words, housing societies, which self-redevelop their premises can sell the resulting extra flats at lower and more competitive rates,” adds Shobhit Agarwal, MD and CEO – ANAROCK Capital.

“Also, with the permissible FSI as per the development control rules, additional FSI of 10 per cent is also granted to societies opting for self-redevelopment,” says Anuj Puri, chairman – ANAROCK Property Consultants. As per the latest government resolution, there will also be added concessions in stamp duty and taxes. “The absence of a concrete policy on self-redevelopment may also make people dodgy about opting for it. Also, it is likely that small societies would opt for self-redevelopment as it would be difficult to get approvals from all residents in a healthy society,” says Samantak Das, chief economist and head of research & REIS, JLL India. “With MHADA and the state government promoting this concept, various banks and financial institutions are seeing viability in lending to such societies.

Source: Times Property, Saturday 30 November 2019

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