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.
For investors, we have a good news! An investment where you have low risk but high returns.If it wasn’t this why do you think,investors from across the globe are investing in Mumbai Properties?For investors, we have a good news! An investment where you have low risk but high returns. If it wasn’t this why do you think, investors from across the globe are investing in Mumbai Properties? However, going forward with this, your requirements and budget constraints should fall in coordination with what the city has to present. Many people have gotten some major boons from Property investment in Mumbai.
There are two catches in this, either hit the residential front or the commercial one.
If your business idea has successfully matured to be shifted to a commercial space, we have just the option for you.
You can rent it and start your business there!
Now, coming to the next one of this story, investing in residential properties. In this article, I will be talking about the same.
Here we have shared the property rates on carpet area in the city of Mumbai!
For obvious reasons Mumbai has been the most preferred location for property growth, seeing the overwhelming infra-growth.
Amidst all this the hard part is that buyers find it hard to find their constraints on location, budget, and loaning coming together favorably.
Take a look at BKC– Mumbai’s hottest commercial and luxury residential location, where Spacio Realtors can avail you the best deal.
After the substantial decline of 18% in the nation, it was only Mumbai that came through with flying colors. There was a minor decline in the property prices, which attracted countless buyers to make purchases below the 25 lakh bracket. With the developments taking place in Navi Mumbai, to manage the growing population in the older one, prices will go several notches higher.
Even if we ignore the developments in the current city, places in Mumbai have much more to offer now than ever.
In the light of the current scenario, you are aware of how demonetization affected the prices. As the demand decreased, they stabilized. And, it is the lowest in the past 18 years. Such significant drop, yet again, attracted more people to try their hand in real estate investment. In the recent report by the Economic Times, real estate is growing out of the shadows of Demonetization and it is only about time that they grow again.
Recommended Read: Is Mumbai Real Estate still worthy of your investment
Feel free to knock our doors, if you are willing to see what investment options are available for you
The question is haunting a lot of investors right now who are aiming at the attractive opportunities in Mumbai but are unsure of the results. Well, Mumbai is for sure a great place to invest right now but there are ways in which the investments must be made in order to assure their success.
If we look at the market, there is a bright chance of ending up big in Mumbai right now. But how? The following reasons will explain.
Navi Mumbai, which was planned to help Mumbai tackle it’s growing corporate congestion has some practical benefits for commercial real estate seekers. We are talking about the Office spaces available in Navi Mumbai. There are a number of reasons why setting up an office or simply renting one can be a whole lot easier and cost effective in Navi Mumbai. For now, the growth pattern of this ambitious project suggests some good news for commercial properties.
If you see your office space in the light of property investment scenario, there is a lot that you can capitalize on. The upcoming trans-harbor link will render Navi Mumbai with a whole new real estate value, making it stand out as a selling prospect alongside business operation benefits. MD at Cushman and Wakefield quotes “Navi Mumbai has been seeing steady activity in the commercial office space, with the Information Technology and Business Process Management sectors driving that growth story. Tax incentives have attracted investments from developers too, further driving interest from MNCs and domestic occupiers.”
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.
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.
The financial capital of the country is one of the prime spots for investment right now. Especially, the developing areas that promise relatively easy acquisition than other parts of Mumbai. Furthermore, the establishment of technology parks and rising corporate sector has boosted real estate business for NRIs seeking to invest here.
Make sure that…
Most real estate gurus suggest that the property must be held for at least 3 years before letting out in order to gain the maximum profit out of it. This has some reasons behind it. First of all, selling the property after 3 years doesn’t levy income tax on the profit and you can keep the sum without caring about the legal procedures. This will also hold true if you belong to the lowest tax bracket which lies around less than 2.5 lakh per annum.
“Mumbai is infectious. Once you start living in Mumbai, working in Mumbai, I don’t think you can live anywhere else.” -Yash Chopra.
I find this quote very true!
It connects to all the Mumbaikars out there.
From being the habitat of the most expensive residential property of the world, Antilia, to being the hub of unbelievably cozy places, Mumbai has it all.
Well, I would say living in Mumbai is adventurous and transforming.
Trust me, Mumbai is sorcerous.
Getting to the point here,
This article is targeted for the people who are looking forward to investing in Mumbai’s real estate anytime in the future.
And, even if you haven’t thought about it, you still can evaluate the pros and cons.
So, here we go…
Mumbai is one place which still has a huge influx of people from across the country. Hence, prices increase constantly every year.
Not so much. But, still.
Therefore, if you plan to make an investment, do that in Mumbai.
The rental rates are high, plus, after 3 years you can sell the property of and get great benefits.
Mumbai is the best city in India for commercial real estate investment, with returns of 12-19 per cent likely in the next five years, followed by Bengaluru and Delhi-National Capital Region (NCR).
Recommended post: Reasons to buy a property before 2017 ends.
When the talent is driven into the city from across the country, there is indeed, huge exposure.
With the establishment of IT industry, and being a Bollywood hub, Mumbai became a magnet attracting thousands of people every year.
Whilst, the city is rather safe, one of the reasons is the great police and even, there is great awareness among people. Moreover, the city never sleeps!
Mumbai shows 17% of vacancies approximately in office market according to a survey.
And, the city is well connected as well.
In terms of both commercial and residential properties, Mumbai is the best.
Having to be stuffed with opportunities and talent, the city can bring great boons.
Mumbai is one of the biggest hospitality markets in India.
Well, it is expensive.
You can say a lot.
But, I believe it gives the person many opportunities to carve a decent living.
The average cost of living in Mumbai ranges from 23000 INR to 50000 INR.
Traffic, pollution, and population are some interconnected problems in the place.
However, this is an issue with every place of this country. Whilst, Mumbai being the city of dreams makes people addicted to it.
Pollution index of the city is 86.70% according to a survey.
Must Read: Reasons for not purchasing a property.
Because, of the Indian ocean, Mumbai has a weird climatic condition. Wikipedia has provided a detailed description of the weather of the city, Mumbai.
Some people find it difficult to adapt it.
In my opinion, there are cons to everything.
Wherever you establish a life in, you definitely need to make some adjustments.
To improve your odds, you can rather make that huge investment worthy. Focus on what matters and your personal priorities!
Subscribe for more such articles, on real estate investments and updates. You wouldn’t be disappointed for sure.
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.
Yes, we understand that real estate terminology can be confusing, especially for first time home buyers. This article, the first in a
Yes, we understand that real estate terminology can be confusing, especially for first time home buyers. This article, the first in a six part series by Spacio Realtors explains the terms related to area of a property like built-up area, carpet area, etc.
This is the net usable floor area within the flat/apartment i.e. the area within the walls of the flat, actual area to lay the carpet. This does not include the thickness of the inner walls, but includes the door jams.
This is the area which includes the carpet area plus the thickness of the walls and balcony including cantilevered portion.
Super built-up area includes carpet area, the area occupied by the walls and your apartment, proportionate share of the common spaces of the building such as the lobby, lift, staircase and corridors. Some builders even include the terrace, pump house, security room, swimming pool, garden, club house, the area occupied by the compound wall of the building. The total area of these is divided by the number of flats in proportion to their size and the result is the super built-up area.
Under the new Real Estate Regulatory Bill, the sale can be done only on the basis of Carpet area.
FSI or FAR indicates the maximum amount of construction allowed on a given plot of land. This is purely dependent on the plot area. It’s the ratio of the total area of all the floors in a building to the total plot area. So if the FSI is 2, the total floor area of a multi storied building cannot exceed twice the size of the plot.
In Mumbai, Rule 2(3L)(42) of the Development Control Regulation for Greater Mumbai 1991 (DCR) defines FSI as the quotient of the ratio of the combined gross floor area of all floors, excepting areas specifically exempted under these regulations, to the total area of plot.
In certain circumstances, the development potential of a plot of land may be separated from the land itself and may be made available to the owner of the land in the form of Transferable Development Rights (TDR). TDR is granted in lieu of relinquishment or surrender by the owner of the land / property for public utilities like road widening, playgrounds, civil amenities etc. The TDR is generally transferable and tradable in the market.
TDR enables the holder to construct the permissible construction area elsewhere in the same city at the same market value.
This is the first post of our real estate terminology series. Subscribe to our blog via email so you never miss a post from this series and other interesting property tips.
It is a major decision for everyone. So it’s imperative that the decision to buy property is well informed and adequately researched. More so, in Indian context, where the real estate sector is inadequately regulated and opaque.
As one start looking around without structured parameters, the confusion compounds.
Below are some major pointers on which one must deliberate before buying a property:
The first and foremost thing that one must be clear about is that purchase of property is for self use or pure investment. Because if the decision is, let’s say, for investment, only then the location or area doesn’t matter as much as the builder, delivery, scope of capital appreciation, rental values, hidden cost etc. matter.
The most obvious point to consider in any purchase is ‘What’s my budget to buy property’. Market is full of options. Before one goes out scouting, it’s important one has fair amount of clarity about the money one wants to invest in property as it would reduce confusions, impulsiveness and also help in sound financial planning.
After evaluating ones needs & desires, it’s important to limit range of area where one shall like to buy property especially if it’s for self use.
Once area is decided, one must now further short list the location by looking at it’s neighborhood (Slums is major issue in Mumbai) and infrastructure in terms of connectivity, safety, markets, school, medical facility and future development plans etc.
Both old and new construction have their own set of plus & minus in terms of quality, amenities and price. Also urgency of need is important factor in case one looks at under construction property.
It’s important to know who is the builder of the particular chosen property. It’s important to do background check of the builder because quality of construction and commitments depend on builders’ reputation. Reputed builders will always command premium. But that premium remains always attached to the property.
The type of project has lot of bearing in terms of pricing, infrastructure and neighborhood. Clear plot project will always command premium and is worth it.
Before making the final decision, one must look at the title of property and whether all Govt. approvals are in place. It’s always advisable to take a legal advice though it may have some cost.
Related Post: Documents required to buy a resale flat
Especially in under construction or new projects, delivery is an important factor. Giving a grace of few months, the property must be deliverable as per schedule. Delivery overrun also has adverse impact on cost of acquisition in terms of cost of funding etc.
One must ensure that funds to buy property are fully tied up and well planned.
Now-a-days, property developers are offering attractive schemes of payments. One must ask and check such schemes but ensure that they are genuine and not sugar coated pills which ultimately harm the buyer of residential or commercial property.
Buyer must read the property deal in detail and minutely to check it doesn’t have hidden costs and restrictions in term of maintenance, transfers, escalations etc.
It’s good to know beforehand what’s going to be recurring cost in terms of property taxes, maintenance and society rules etc.
Connect with one of our experts. We look forward to helping you with your real estate needs.