Small houses back in trend

Owing to sky-rocketing property prices, luxury apartments are losing their charm among the middle classes and small houses are gaining popularity again. Due to the massive slump in real estate market since the last couple of years, developers are now reducing the size of houses instead of decreasing the prices.

Top developers like Hiranandani, Kalpataru, Radius, Sai developers and Prajapati developers are coming up with projects having a large number of small apartments, industry observers report.

Pankaj Kapoor, MD at Liases Foras, a property research firm said, “The small size of flats gives dual benefit to the developers;  first , it helps them get tax benefit as developers constructing 30 sqm houses in non-metro locations are eligible for certain exemptions as per tax laws. Besides, the price of these apartments fits in the buyers’ budget.”

“There is a huge demand for smaller affordable houses. In a property exhibition held in Navi Mumbai recently, we received very good response from home buyers. We have to meet the demands of the people to survive and succeed in this kind of market,” said Harnam Singh of the Sawan Group.

Real estate agents are also disconcerted with the fact that people come to see the properties & make site visits, but once they start calculating, deals get aborted.

Further, vice-president of the Maharashtra Chamber of the Housing Industry (MCHI), Navi Mumbai, Manohar Shroff says that the demand for huge luxury apartments has fallen. Builders now have to construct houses in accordance with buyers’ demand. While many young couples prefer buying small houses in the beginning, most bachelors desirous of investing in property also find small houses the best option.

Kalyan phata – Bhiwandi, hottest realty destination

Maharashtra Chamber of Housing Industry (MCHI), in its 15^th property show, saw more than 50,000 visitors and sales of over 200 flats.

The exhibition received a great response and proved to be extremely beneficial for developers and the real estate sector alike for two reasons. Firstly, Bhiwandi emerged as the new destination for property buyers and Thane’s Ghodbunder Road witnessed massive on the spot sales.

Chairman of MCHI-CREDAI’s Thane unit, Jitendra Mehta said that this time around, there was a good footfall of serious buyers. With 300+ projects, property seekers had a vast range of choices. “While Ghodbunder road remains a pick for elite property seekers, Kalyan Phata near Bhiwandi is gaining popularity and the conversion rate is also good,” adds Mehta.

The three –day expo saw maximum rush outside stalls exhibiting properties in Bhiwandi. Developers who showcased property in this area explained that Kalyan phata is just 20 minutes away from Thane and people having a vehicle of their own can commute very easily. Besides, connectivity via local transport will also improve gradually.

When visitors were quizzed about the latest entrant in the sector said that Thane and GB Road are increasingly going out of reach with properties hovering close to a core. Bhiwandi offers good choices within a budget of 40 – 45 lakh. With per square feet rates around Rs. 2700 – 4100, New bhiwandi is emerging as buyer’s choice for affordable properties in the city.

15th MCHI-CREDAI property expo

MCHI-CREDAI’s property shows are something to look forward to every year. The 15^th edition promises to be better and on a much larger scale than before. The exhibition is scheduled from 15^th to 18^th of January at Highland Gardens, Dhokali in Thane west once again.

“Act before it is too late” is the tagline of this year’s expo. This theme has been chosen to highlight four aspects of the burgeoning Thane city – the amazing growth story, global office culture, mall mania and clean & green outdoor.

In these four days of 2016, real estate enthusiasts will be able to look at a broad range of properties across Thane as well as some areas in the periphery. The event will showcase luxury and affordable homes, Over 40 developers with more than 300 projects and nearly 20 banks and home finance institutions.

Excited about the scale of the expo this time, MCHI President went on to say that he plans to promote the city globally. A conclave is being organized during the exhibition where international property consultants have been invited to encourage investment in Thane at an international level.

“Thane is not just a dormitory city now, developers are endorsing it as an IT hub,” adding that “Tata Consultancy Services has already acquired 2 million sq ft of office space and others will follow suit. Good schools, world class hospitals and other utilities are the need of the hour and we are striving to equip Thane with all this.”

You can order your tickets for the 15^th real estate & housing finance Thane property expo on bookmyshow.com.

MCHI-CREDAI Property Expo – 2016

Opportunity to see and select your dream home has knocked on your door once again! Coming January, MCHI and CREDAI’s Thane unit provide you an avenue where you can explore properties galore. After witnessing a footfall of nearly 1, 00,000 realty enthusiasts during the fourteenth property expo last year, the next show promises to be much bigger.

Following Maharashtra government’s sanctioning of funds for huge infrastructural development projects around and connecting Thane,   this area has become a much sought-after destination for both investors and end buyers. House-hunters from Thane, Mumbai, Navi Mumbai and the adjoining Kalyan-Dombivili regions are anticipated to flock to the fair. The fifteenth edition of the property expo organized by MCHI is poised to offer investors, builders, governmental bodies and real estate service providers a platform to connect with various stakeholders.

MCHI-CREDAI property exhibition version 15 guarantees to showcase a range of affordable luxury housing projects by more than 100 realty brands and introduce housing finance Corps to enable you fulfill that enviable dream!

Begins on – January 15, 2016

Ends on – January 18, 2016

From – 10:00 am to – 7:00 pm (on all days)

At – Highland Gardens, Kolshet, Dhokali, Thane (W) Mumbai-400607

To book your stall, call – 9322682010

Image Credits: DNA

Usually, the builder community refrains from any protest against the government. However, on October 13, Maharashtra Chamber of Housing Industry (MCHI) and its associate organisations held a peaceful march to show their disapproval & express solidarity on the recent suicide of Thane-based developer Suraj Parmar.

Most of the construction sites and offices belonging to developers were closed on Tuesday. Even architects and real estate agents participated in this protest.

Parmar, the President of MCHI-Thane  was purportedly fed up of the corruption in the system & the resultant delays in project completions. Apparently, he had named the elected representatives & the architects responsible for the suicide but fearing troubles for his Family later, they were removed.

Expo Venue:

CIDO Exhibition Centre,

Vashi, Navi Mumbai.

Date and Time:

11 am to 8 pm from April 10th to April 13th 2015.

For all those who are interested to buy property in Mumbai and other parts of Maharashtra MCHI – CREDAI Property Exhibition is a premier platform to deal in the real estate market. MCHI – CREDAI is the most prominent and recognized body of real estate developers in Mumbai and MMR and it is the only recognized body by the Government of Maharashtra and the Central Government of India. MCHI-CREDAI has the membership 1000 + leading real estate developers in Mumbai and MMR, which provide premium platforms for real estate builders and developers to exhibit their properties. In past few years, MCHI-CREDAI has also expanded beyond MMR region with dedicated units in Thane, Mira-to-Virar City, Raigad, Navi Mumbai and Kalyan-to-Dombivli. In the latest MCHI-CREDAI Property Exhibition at the venue Navi Mumbai, investors and buyers will witness the most Impressive, Extensive and Effective event. This event will be impressive only the best real estate developers from Mumbai, MMR, Ahmedabad, Goa, Bengaluru, Vadodara, Surat, Nasik  and Delhi are presenting Quality Real Estate Product on a single platform.

To promote the high level of commitment and interaction between businesses, real estate developers, buyers, and investors CIDCO has developed CIDCO Exhibition Centre, a state-of-the-art building complex that features an Exhibition Centre, Business Centre, Ancillary Block and is a ‘Green Building’ certified by Indian Green Building Council (IGBC) under the LEED criteria. In past or 2014, MCHI had successfully conduct the property exhibitions in different areas of country and they had witnessed huge demand all the time and due to that now again MCHI group is focusing on customers who wish to buy property in Mumbai region. According to real estate experts, it will be the great opportunity for real estate developers and builders too because it is like one stop destination to showcase the properties of different area at one destination. Due to direct interaction between builder and buyers, it will save the time as well as cash of purchasers. Due to direct interaction between builder and buyers, it will save the time as well as cash of purchasers. The various regions in Mumbai has experienced the tremendous growth in alst few years in terms of infrastructure development and due to that in present these regions has best infrastructure and amenities with better connectivity.

If you are the one who is looking for residential or commercial property in Mumbai, so that person must visit the MCHI-CREDAI Property Exhibition 2015 in Navi Mumbai because it will be the great opportunity for real estate developers to showcase their property and buyer to hunt down their dream home in affordable price. The main objective of MCHI-CREDAI Property Exhibition is to provide the authentic and reliable property to investors and buyers at affordable price, so that buyers can feel more secure and comfortable while making the property buying decision because it can be the most emotional decision of their life.

Thane Municipal Corporation (TMC)

Nearly after one month Thane Municipal Corporation (TMC) issued a notice to Concord developers, which is one of the real estate developer, whereas; this notice was under the Maharashtra Regional and Town Planning (MRTP) Act, Suraj Parmar, who is chairman of the firm accused the TMC for adopting dilly-dallying tactics to give permissions for finished projects.

Suraj Parmar is also the president of the Maharashtra Chambers of Housing Industry, Thane unit, stated that before a year, our real estate firm had applied for OC (Occupancy Certificate) for the project of Cosmos Horizon at Pokhran Road, but instead of giving the reasons for holding the permission, TMC (Thane Municipal Corporation) issued Maharashtra Regional and Town Planning (MRTP) notice and due to that I had paid fine to the TMC. The developer blames that few authorities of TMC that they are harassing real estate player without any reason.

However, civic officials of TMC refuted the charges by stating that the MRTP notice was issued according to the provision of rules.” TMC had initiated the action against Concord developers as the developer, in one of his projects; they had allegedly handed over possession to flat owners despite without having the mandatory OC.

Meanwhile, on last Thursday, Vikrant Chavan, Congress group leader in the TMC wrote a letter to TMC chief and requested that TMC should take stern action against erring developers in Thane. “It is a serious matter that the head of MCHI, Thane is not complying with the norms” whereas; in reply Parmar clarified that “few people with vested interests are trying to malign the image of our firm”.

DEFINITIVE HOMES BUYERS DESTINATION

To avoid long queue Pre Register ONLINE OR

SMS  MCHI <Your Name>  <Email Id> on 92121 48888

MCHI–CREDAI is one of the premier housing and developers associations in India, the MCHI–CREDAI  Kalyan–Dombivali unit is a representative body of progressive developers operating in one of the fastest growing regions of MMR, encompassing the Kalyan–Dombivali unit region.

In 2014, MCHI–CREDAI  had successfully conduct the property exhibitions for Kalyan and Dombivli region and because of huge demand this year again MCHI group is focusing on customers who wish to buy property in Kalyan and Dombivli region. It will be the great opportunity for real estate developers or builders too because it is like one stop destination to showcase the properties of Kalyan and Dombivli region under one umbrella to help individuals who are planning to hunt down their fantasy homes inside their financial plan and in the area of their choice. Due to direct interaction between builder and buyers, it will save the time as well as cash of purchasers.

Shops and Homes is the fastest growing online real estate portal, which provides the single platform for end users, agents, builders, sellers and investors to do business. Property buying is one of the most important financial and emotional decisions for all of us and therefore at http://shopsandhomes.com you can get the most reliable and authentic property listing. No matter you are planning to buy new property, resale property or wish to take a paying guest accommodation in Mumbai, our map based search portal will assist you to find the most suitable option based on your preferences. In Mumbai we provide the property options in all areas such as; Thane, Navi Mumbai, Panvel, Titwala, Ambernath, Badlapur, Kharghar, Seawoods, Dombivali, Kalyan and more. If you are planning to buy/sell property in Kalyan or Dombivli area, so attend the MCHI- Property Expo between 23rd to 26th January 2015   Online Partners ShopsandHomes.com  as online real estate partner.

As we all know that MCHI has gained a tremendous success in every exhibition and this exhibition is authentic proof as well that they had a great response in last few exhibitions. This time MCHI and Shops and Homes (online real estate partner for the Property Expo in Kalyan and Dombivli region) aiming to acquire the trust of customers to make them feel more comfortable and secure while making the property buying decision. Kalyan and Dombivli region has experienced the tremendous growth in terms of infrastructure development and due to that in present these regions has best infrastructure and amenities with better connectivity.

In last few decades real estate sector has 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. This expo is not only for home buyers, here wide ranges of property options are available, which include commercial properties, residential properties, second homes, plots and more. If you are wish or planning to buy property in Kalyan and Dombivli region, visit here because life is all about taking the right decision at right time and this is perfect time because here plethora of property options are available according to your budget.

Minimal drop in property sale in Mumbai

Even as Delhi and its surrounding region witnessed a 20% drop in sale, Mumbai saw marginal drop at just 2 per cent while Chennai and Hyderabad and Mumbai saw 18% and 13%, according to the 2014-15 real estate research survey by Liases Foras. Liases Foras, a non-brokerage firm, is into real estate researches. The survey was released on Thursday. It says that property sales across tier I cities in the country have dropped.  Proving that change in guard at the Centre has not changed the property market scenario.

The survey says that construction activity has increased in affordable and ultra-luxury segments in Mumbai. Flats that cost less than Rs50 lakh are selling more. Besides, the average prices have gone up in Greater Mumbai and Mumbai metropolitan region. In Greater Mumbai, this year a 2BHK costs Rs2.30 crore. Last year it was Rs2.14 crore… in MMR, a 2BHK flat cost is Rs1.32 crore while it was Rs1.20 crore last year, according to the report.

According to Pankaj Kapoor, MD, Liases Foras, “Currently, property market has been quite inflated and over-stretched. No one, including end-users and investors, wants to invest his/her money… and that has resulted in decline in property sales” . “Besides, there is a huge gulf between the current rates and expectations of end-users. They are still waiting for price correction. All things are attributed to the stagnant sales in Mumbai and other cities,” he told a newspaper. “Buyers cannot afford such costly houses. But developers have little choice. The land cost is already high and buyers have to pay various government taxes. If we meticulously calculate, buyers are forced to spend almost 10-15% of total flat cost on stamp duty, registration, valued added tax, service tax etc. To make houses affordable, the government should slash taxes,” Manohar Shroff, general secretary of the Maharahstra Chamber of Housing Industry (MCHI) demanded.

The Narendra Modi-led government cannot increase peoples’ income overnight. The current property market is beyond the reach of common man. An ineffective market will continue for some time. Despite low sales, developers are not bringing down prices. But they are offering sops such as waiving off stamp duty and registration charges to lure buyers.

Real estate in Navi Mumbai is all set to witness yet another boom with the prime minister Narendra Modi laying the foundation stone for the Rs 4,000 crore special economic zone at Jawaharlal Nehru Port Trust (JNPT).

Navi Mumbai where the property prices are as high as those in Thane is all set to witness a surge in prices, says Arvind Goel, president of Maharashtra Chamber of Housing Industry (MCHI), Navi Mumbai unit.

According to Goel, the inauguration of government-owned SEZ holds a lot of significance for Navi Mumbai. Currently, a 2BHK in Navi Mumbai costs Rs 70-90 lakh. A 20-30% rise is expected. Arvind Goel, says demand for commercial property will also go up. “There are 250 supplementary industries, directly and indirectly dependent on real-estate sector. A real-estate boom will develop them as well,” he said.

In three years, the SEZ will start. Since land for the 277-hectare zone is already acquired and in possession of the central government, no delay is feared. Widening existing road network to 6-8 lanes and development of service are also proposed to facilitate the vehicular traffic movement within the city.

The Thane-Belapur belt, known as an industrial belt, is slowly turning into a realty belt with the swanky residential and commercial complexes replacing the smoke stacks. “Just as the property market in Pune developed immensely, thanks to the IT industry. Employment is main factor for the growth of the housing industry and cities. Similarly, Navi Mumbai will grow in the next five years as there will be lots of employment opportunities with new start-ups, BPOs, KPOs and other new age industries coming up in the satellite township,” a realty watcher explained.

“Now developers will buy huge tracts of land in Panvel and other locations to develop townships. It’s a good sign that Navi Mumbai is developing. It will become another developed city in the near future,” says Manohar Shroff, chairman of Shivam Developers, adding that housing and real-estate will attract lots of investors to Navi Mumbai.

Some developers have added a note of caution for their colleagues who are gung-ho about the development of real estate on the back of SEZ planning. They say that the builder fraternity should not create a false euphoria about the housing project or it might turn out to be another bubble burst.