Aishwarya-Rai-Bachchan

Mumbai’s burgeoning Central Business District, Bandra-Kurla Complex is fast becoming a promising destination for many super wealthy who have begun purchasing luxury flats here. The area is emerging as an enclave that is already a home to many industrialists and celebrities.

Industrialists like Gautam Adani, Vikram Pandit and Kishore Lulla already own property here. And the  the latest HNI to join the party is Aishwarya Rai Bachchan. The B-town  actress has recently purchased a 5,500 five bedroom premium apartment in one of the high end projects at Bandra Kurla Complex.

The sprawling five bedroom home purchased at 38,000 per square feet was registered last week at a high price of INR 21 crore. Apartments in the BKC expanse are cited to cost anywhere between INR 35 crore and INR 55 crore.

Several High Net-worth Individuals are buying homes in BKC not just for investment, but also for end use. The strategic location of the area and proximity to the international airport is luring many affluent individuals to buy luxury apartments here for residential purposes. It is reported that billionaire Uday Kotak of Kotak Mahindra Bank and actress Sonam Kapoor too have purchased apartments in the same project.

The capital values of apartments here are expected to hover between INR 19,678 and INR 39,376 per square feet. While extravagant luxury flats in the BKC stretch are cited to spread over 11,000 square feet, the smaller ones are estimated to range over 7,000 square feet. The capital values of high end properties have appreciated by over 8.2%, making the neighbourhood an ideal destination for investors as well as home buyers.

Due to the soaring capital values, residential developments in BKC have a restricted clientele. However, the demand for high end projects is increasing day by day. With the affluent having a high purchasing power, real estate developers are launching capital ventures that boast of having world class specifications.

ING Vysya bank merger with Kotak Mahindra bank

On January 3, 2015 all the employees and officers of ING Vysya Bank expressed their concerns over the issue of merger with concerns, as we all know that from April 1, 2015 ING Vysya Bank is going to merge with Kotak Mahindra Bank.

According to management of Kotak Mahindra Bank, “The employees of ING Vysya Bank would get the pension, but it will not be linked with dearness allowance”. Whereas; the management of ING Vysya Bank is happy on bi-partite negotiations through which the unions of ING Vysya Bank had entered regarding service conditions, but still the officials of Kotak Mahindra Bank are silent regarding commitment on the continuation of existing service and the different conditions on absorption into the new merged entity.

More the 4,000 officer and employees from ING Vysya Bank would be absorbed by Kotak Mahindra Bank in the rolls of the merged entity. As per the statement of Kotak Mahindra Bank management, “The employees of ING Vysya Bank would get the pension, but it will not be linked to dearness allowance”.

After this deal the Kotak Mahindra bank will become the fourth-largest private bank in India in terms of total business, whereas; the other three banks are ICICI Bank, HDFC Bank and Axis Bank in the order of ranks. The combined banking entity of ING Vysya Bank and Kotak Mahindra Bank will have a total network of 1,214 branches in all over the country.

CREDAI-BANM 15th Property exhibition

Event Venue: - CIDCO Exhibition Centre, Vashi.

Date: - Dec. 12, 2014 to Dec. 15, 2014

CREDAI and BANM is going to organize the 15th Property Exhibition for the duration of Dec 12 to Dec 15 in the city Navi Mumbai. CREDAI stands for “The Confederation of Real Estate Developers’ Associations of India” and BANM stands for “Builders Association of Navi Mumbai”, which is the apex body of the organized real estate developers in Navi Mumbai. Whereas; CREDAI is the apex body for private real estate developers in India, which represents 8,800 developers through 20 states and 114 cities.
In present Mumbai is one stop destination for international standards real estate properties for commercial to residential properties. Mumbai is one of the global hot spot for foreign real estate developers and as well as national developers. As we all know that, property investors and buyers have become price and quality conscious and because of that they are searching for affordable property with good quality. In past few decades Indian real estate market is seen to be more investor-friendly as it is attracting the NRIs and foreign investors, which is the main reason for the boost in real estate market that drive demand to greater heights.
As the real estate sector witnessing a positive trend in Mumbai, so it is expected that record number of properties will be exhibit and sold in exhibition, as last year more than 350 properties were sold by the developers under the code of conduct adopted by the members of the CREDAI-BANM. The expo will feature the presence of real estate developers from across Mumbai Metropolitan Region (MMR) and country with the presence of housing finance segment with the organization like; LIC Housing Finance, Tata Capital Housing Finance Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, L&T Finance, Bank of Baroda, Bank of India, Axis Bank, Union Bank of India, Reliance Capital and Canara Bank.
This expo is expected the presence of Bollywood and sports celebrities as in 2013 the same expo has witnessed presence of celebrities like Actor Sunil Shetty and Shilpa Shetty. In property expo there will be plethora of offers housing options for customers to take spot decisions. With the strong membership of more than 1800 leading Developers in Mumbai it is expected that expo will witness the huge success. This year it is expected that participation will be twice as compared to last year.
Life is all about taking the right decision at right time and this time the 15th Property Exhibition 2014 will kicks off at CIDCO Exhibition Centre, Vashi, so it’s great opportunity as it promises something more to everyone who is interested in real estate.