My Property Deal in Mumbai

Mumbai Property my Investment Dream

   Over the last decade, the price increase of property is astonishing and the halting line is nowhere around.   Prices have gone up so much so, that now the price per square foot of property in Mumbai has surpassed the price per square foot in both New York and London. Despite problems in the markets recently, property prices in Mumbai remain at extremely high levels. 

   So just how unaffordable is property? The per capita annual income in Mumbai is approximately Rs. 6,00,000. While property prices anywhere ranges in value significantly, an average property can cost around Rs 10,000 per square foot and often much more higher than this. Now imagine a person of average income wishes to buy a 1,000 square foot property? How many years of income he need to accumulate, will he get an extension to life span? 

  It would take 20 years of one's total income to afford such a property. In actual fact, it is impossible to devote one entire income to purchase a property, so let's assume an individual can devote one-third of their economy towards purchasing a property. In that case, it would take 60 years to afford a property.

       Properties in Mumbai are highly overpriced that is the fact every admit. Laws of economics is not applied for shorter period, it work on cycles of decades depends on demography. I  look in term of self  economy  than waiting for   Mumbai  Black money to turn white and find a reasonable stability  of  valuation in property market OR natures  migration  theory  will be the best .  As many  already  experienced  Only Riches and Rags can stay in prime Mumbai, why unhappily  cling to the forbidden fruit ?, chatting and  applying   Oxford  financial  theories  doesn’t work here, the reason  they are the torch bearers of the investment house. 

Step in  to Mumbai Suburbs   make life   going  and  easier

        I don’t understand  why  few youngsters View like this, “ Though I am decently paid individual my dream house will remain in dreams, the common man is not even able to buy a small shed to protect his family”. They  agree that Mumbai is costly, but then the income here is also higher  but balancing becoming difficult especially on Residence.

    Get on to Mumbai Suburbs      Navi Mumbai,  Panvel,  Karjat, Nalasopara,  Virar,  Vasai 
  are  finest  investment options for
  the beginners  and First time Shelter   buyers.

     Wait, there will be an abundance of  supply  when all these speculators burn their  hands  and get bed-ridden. When is that day?  Are you  there at the time?

Indian Silicon valley - Invest at all time low

Inexpensive Indian Silicon valley - at a favorite Infra Value 

An expensive US Valley  to  Cheap Silicon Valley,  India having  it all  at a distance of one click, what makes it different ? Is  that the dozens of language or the sprouted  leaders, want  to  still hold on  to the  language throne around in  India by the Olden Rulers. Less reason to dig  deep  on all  such  reasons,  But  there is more! More room! Plenty  space to develop in all direction, whether in IT or any other.

One Of the fastest Developing Country  with  Real Demand , Inflation ,  Income Growth, India is one of the fastest growing country in world currently,  which makes it more attractive as when country is developing, it will never get fall in longer run as everything will be required  human resource,  infrastructure, industries, residences, education etc.

Pune hardly a distance from Mumbai commercial hub of India, also known as the Oxford of east has shown impressive economic growth in the past few decades and IT has been the Key driving force for last  so many years. A city supported with all finest infrastructural Supports, other than a Sea port away at 150 Km away.

Pune is among the one  major cities that account for about nearly 90% of the sector's exports , considered to be the  one city of  - Silicon Valley of India.

This sector has also led to massive employment generation. The industry continues to be a net employment generator - expected to add more y-o-y, thus providing direct employment to about 2.8 million, and indirectly employing 8.9 million people. IT  being  dominant player in the global outsourcing sector Indian support will remain truly exceptional.

This high end export  potential has allowed the industry to secure the support and resources of the Indian state ahead of other industry sectors of the national economy, where the developmental returns would be greater.

Along with excellent IT employment and educational opportunities, climate conditions  and cosmopolitan population are some of the factors that have cause this phenomenal growth even  in the real estate sector  in Pune.Tax Benefit Pocket for IT Industry  areas called  Special Economy Zone- SEZ  have become a attractive location for the foreign companies to operated from this cities directly or with domestic partners.

Recent slow down in Realty creating a wonderful space for the large Infrastructural leasing, at a very good bargain  long term leasing rates.

Bangalore Godrej E-City

Well Placed  - full of  fresh air – connectivity  - lush green

Height doesn't  matter in all the property cases, this  is low rise developments with 840 apartments extend over approximately 15 acres, one more chance for those who love staying in limited height apartments. 

  
 The project is situated in Electronic City Phase-1, with close proximity to NICE road and prominent expressway on Hosur Road.

Connecting  major junctions like Sarjapur / ORR and Silk board can be without difficulty accessed through the well-developed road network. 

Furthermore, all the major IT/ITES/Industrial work places like Infosys, Wipro, TCS, HCL, Strong industrial belt  Bomassandra  and Sipcot Industrial area, are situated in the vicinity in that way making Godrej  position  a vibrant economic hub for Bangalore.

They say, the grass is always greener on the other side. Godrej E-City is the other side where life is evergreen. 

A life bestowed with better things - be it greener design, smarter landscaping, better connectivity or a brighter lifestyle. It is a life many long for but only a privileged few actually crave for it.

The greener side of luxury living- uncontrollable

 All Godrej E-City homes are created to indulge you in the luxury of

 space as their untold  practise.  The well-designed layout, efficient 

spaces, attached terraces and balconies ensure that there's plenty

 of fresh air and natural light to brighten your life under the sky. 

With the strong national presence, Godrej has 

been a trustworthy brand for customers since

 1987 to bring innovation and brilliance in a broad

 variety of fields. GPL brings the group values to

 the real estate industry by repeatedly raising its

 performance and thereby outstanding the most

 professional, reliable and accomplished property

 developer in the country.  GPL every time delivers everything it promises- good value, prime locations,

 exceptional construction and efficient support.

Property Gold Rush on Pune Surrounding Areas

N A  Plots  on Satara Road - BHOR - Hot land Investment location

anandsmint

Pune City witnessed Property Exhibitions  raised  by Times property  and  India property  on the same day same time at One KM distance on Sunday. Good Crowd  flow  to view present Real Estate progress , Offers under one roof.

Even though it was a Shy-Off platform for  many Large players few newComers  tried to fill the gap with their latest upcoming projects and ready possession flats. But NO Excitement for buyers in pricing areas. No Doubt Farm House enquiries flooded, may be  trouble free smooth way  to reach  there could be one of the reason !, Your New compact SUV or even Maruti can take you there for the reason the roads are good to most of the farmhouse locations.

No Doubt Farm House enquiries flooded, may be  trouble free smooth way  to reach  there could be one of the reason !, Your New compact  SUV or even Maruti can take you there for the reason the roads are good to most of the farmhouse locations.

Second Investment dream of most  youth of  this days  where well catered  by the exhibition participants , Surprised to see  that 80% Stalls  where of  Farm House and Agri land  providers  and the rest with struggling apartment project.

N/A land and Agricultural land   in BHOR took the lime light of the show, which is around 50 KM form City.  Second Investment is always the land, that is the message of the crowd visited. No doubt PUNE property investors are getting smart  and they know to  Chase the Changing   treasure areas focusing 10 years  period.

I Asked One,  why not an Apartment  from a well known  Builder?  He moved to the side, his “BiBi”  stepped forward  with many Good reasons to throw at  me, I had no argument rather  than admit  all  of them, starting  with the whole  Registration process coming to 10 percentage plus,  Very high maintenance one time, premium demand by even new and low quality construction, bank interest rates and so on ....., Why all this?  Surprising even an young Lady  knows all about happening in Real Estate and she said  Land is Gold for

me,  I heard from  my father from childhood and I blindly believe it. . .. let it be there for my future,  I don’t have to pay Annual Taxes,  Ele-Bill  and on top may be an agricultural income in my Annual Balance Sheet preparation for my own satisfaction. 

So every one is aware of the real estate market inside-outside watching from all the angles . Now  who to wash away this extras paid in advance will takes at least  5 years time to get on actual value.

There is less thrill in investing on Flat and Apartment at this pricing and built up allowances, Let us try it out on land. Recent years Panshet, Khadakwasla, Hadapsar, Kharadi area’s buyers are the path maker for the new generation’s investment route map makers.

I’m certain about the word history repeats, the land I suggested for many friends  few years back at 2 Rupee 50 paisa is  now Rs.1000 plus at  the cost of no pain, only a matter of time.

Great Surprise not !, Accessibility to land buying at a distance have improved, State Government Documentations are of Fool proof than early days and hope it will move to better clarity in the coming days. It’s better if one believe that the past land records   and documentations are intact,   the  physical  presence are very much in place,  if the land is purchased through a right source of developers or promoter. Well plotted, Outer boundary - demarcation done, invite no chances of intruders, that its self is “ Sound Sleep”  Investment lesson in land  holdings.

Miss guiding news  every where even in  well known news paper editions printing             “Investors should act before  its too late” Who is late here? are the investors  confused or the young Financial PG author confused, trying  to guide a group of  innocent youth who have earned  some buck, burning best of  their life in IT or in other Industrial Sectors.

Practice what the forefathers taught, that is the best and  long lasting valuable,  forget the  young financial guru want to practice on someone’s blood, adding high fever to the crowd especially the young and unseasoned want to park their little money, it take decades for few to season and for few many more incidences.     

Bangalore Plot & land property “A or B Khata”

New Generation Bangalore investors  have come to a cross road, saying “Having an apartment  is not enough, searching for  little land of  own”.

I came across the question from one of my friend’s  son  who is interested to purchase a Plot in Bangalore and that land falls under ‘B Khata’. He asked me about the  goodness  to have a property with B khata and what is the difference between A and B Khata creating Confusions all over. Soon I picked up my Phone and Laptop insisted of Pen and Paper, thinking of putting an end to confusions. This is the extract of few land Law Practicing friends told from Bangalore.  

Let us know at what is meant by “Khata” according to BBMP (Bruhat Bangalore Mahanagara Palike).  Khata is an account of assessment of a property, recording details about your property such as size, location, built up area and so on  for the purpose of payment of property tax. It is also a kind of identification of the person who is primarily liable for payment of tax.  It is required when you require a building license, trade licence or loan from banks or any other financial transactions. It is mandatory for all property owners to pay property tax, hence you need to have Khata. This is almost same as elsewhere in other state with different  tag.  

                                    

The difference between Khata and Title Deed is, Khata is an account of assessment of a property for payment of tax only. Hence Khata will not confer ownership of once property. Whereas Title Deed is the valid document which confer ownership of once property.

Have a close look at the reasons behind the origin of A Khata and B Khata lands. In 2007 those under the seven City Municipal Councils (CMC) of Bommanahalli, Dasarahalli, Krishnarajapuram, Raja Rajeshwari Nagar, Mahadevapura, Byatarayanapura, Yelahanka, one Town Municipal Council (TMC) of Kengeri and 110 villages, were brought under the fold of the Bangalore Mahanagara Palike (BMP). Following this expansion and creation of the Bruhat Bangalore Mahanagara Palike (BBMP), those who did not have appropriate approval from the concerned land development authority and yet to come under the ambit of the Palike were issued an acknowledgment which was in common parlance known as B Khata.

However, in reality, ‘B’ Khatha does not exist. Property identification numbers are entered into a register called as  ‘B’ register stating that the civic agency has been paid its dues by the property owners. For citizens in need of an approval from the appropriate land development authority but have a Deputy Commissioner (DC) conversion, the BBMP re-introduced Betterment Charges which will entail people to take a Khata on their property. This is how B Khata originated in the mind of property owners,  but legal ownership is intact. 

Now the disadvantages of having B khata is that, you will not get building license, trade licence or loan from banks or any other financial transactions. Hence it is big hurdle to have B Khata land. It’s good to know what are the ways of converting  B Khata land to A khata.

As simple as else were, by  paying some betterment charges  to Corporation , you can convert B Khata to A Khata. But you will face lot of hurdles, few of them are as below.

Own XRBIA as a Paying Guest

Xerbia PG near  IT Hinjewadi  SEZ -                                                                                                       Own a studio apartment for same Pay.

Xrbia  situated  in the midst of  300 hundred odd  IT Companies  around Hinjewadi  SEZ  Pune , is a  wonderful place for the youngsters  to start living  along with  budget investing .

Buy a home with coins

For many reason  this is going to be a city of  great  domestic and International  lifestyle  mingled  location, far from the City crowd and traffic congestion's,  which is  first option for the new generation youngsters,  who believe  in start settling  & living than waiting  for years  for good time.

A peaceful  place stands  at a distance of  2 minute walk  from  Job,  to 5 minutes drive through  good road with in the SEZ  IT  belt,  is  going to be an amazing experience  for every day to Office.The recent Home price is been a real concern,  for the  new entry  job group to find a place of their  own  or even to dream of a place at  this sky-rocket pricing.

Listen to what my Profession Good old friend  ARCH. HAFEEZ CONTRACTOR say’s “ It is n’t everyday that an architect gets an offer to create a country from its foundation. I took this as an opportunity to create new residential apartments that are both economically and ecologically viable”.  People   like him create  space  to experience life, not just concrete building.

Watch Out How? Buying a house matters: http://www.xrbia.com/tvc.php

 

Earning  youth can  benefit  from  this new trend of  Studio apartment  and its different  ranges  with limited resources  and  balance  pay  through  bank financing. This cases the Home loan pay-outs are practically lesser than a Paying Guest Accommodation.   A “ Be an owner by  Paying  PG monthly rent ”  in a period of time sounds  interesting and achievable for all  those start  an  early  investment  habit. 

Xrbia Commercial 

After the successful inauguration of the project at Hinjewadi, Starting @ Rs 10 lacs, XRBIA's houses are a testament to the brand's promise of affordable housing opportunities for home buyers. Master planned by the internationally renowned Architect Hafeez Contractor, these residential townships invite residents to live abroad in Xrbia. XRBIA  have been successfully organising Home Loan Melas along with leading financial organisations for the past few months to facilitate easy home loans for its buyers. Reputed banks such as State Bank of India, Bank of Maharashtra, HDFC, ICICI, OBC, LIC Housing, PNB, Axis, India Bulls, DHFL, Bank of India, Gruh Finance and Reliance Cap participated in these Loan Melas organised  during  the months of October and November.

Property Exhibition 

Vascon High End Penthouse a Blind Pick for Mumbaikar or for all

Best Banner property in Pune  by Vascon @ 5300 + 

                                                           an all time Unbeatable Choice.

Working  at Hinjewadi, Pune’s growing IT hub, where thousands of techies are employed, Baner, just a 10 minutes drive, would be a better place to stay at than any other place.

 If you are a Mumbaikar, and want a FIRST HOUSE rather than  a second house, this is the place, for you could reach your home in Baner by the expressway, without getting into the city’s traffic tangle. And if you fancy letting your hair down with pune’s  whisper climate comfort, the serene and soothing Lashan Lake is only a stone-throw away from us.

Pune-based Vascon Engineers, a real estate company, is developing a Rs 400-crore residential project called Willows, consisting of high-end, 2,500 sq ft to 3,000 sq ft homes and penthouses exceeding 6,000 sq ft. It would consist of four towers, each with over 65,000 sq ft area.

“The first phase of Willows is nearing completion and we will be able to deliver to our clients within six months,” R Vasudevan, managing director, Vascon Engineers, says,  the project would have 80 homes of 2,500 sq ft each and eight penthouses of 6,000 sq ft each. He said the units would carry a tag of Rs 4,250 per sq ft. “Our prices are reasonable and even during boom time, we never exceeded Rs 3,000 per sq ft,” Vasudevan added.

Each floor of Willows offers only two apartments, designed to be eco-friendly, and offers maximum privacy. The unique feature of the project is that every apartment has a private garden. Designed by Bangalore-based Total Environment, Willows claims to be a zero-discharge project, with its own bio-gas plant and water treatment system. The apartments have been designed to allow maximum natural light into the houses and ensure maximum reuse of water,” Vasudevan said. Also, each house would have piped gas. Access to the apartments would be controlled through a high-tech security system.

The company does not seem to be worried about the lack of buyers in a stagnant market with 25 per cent price correction last month. “Ours is a niche project that has not lost its demands. We are catering to end users and not investors. There is still demand for high-end apartments,” Vasudevan said. Each apartment would cost Rs 1.62 crore, he added.

“Our focus is on providing a green island of luxury and peace within easy reach from Hinjewadi IT Park and Pune-Mumbai Expressway. This is our fourth project in Baner and is being built because of growing demand from our clients for high-end apartments. Our earlier projects are Paradise, Paradise Towers and Eves Garden, all in the Baner residential zone,” Vasudevan said.

The second phase of Willows would consist of three towers of 25 storeys each, for which, permission is expected to come in the next few months. It would be launched in another nine months. Willows is being built over 18 acres, with 75% open and green spaces, because of podium parking.

As the  Details released by Vascon Engineers.

East Pune Dream Home water project on fast track Now !

East Pune Home Property your Home Investment,

                                   under great relief of  Drinking  water 

     East Pune  and Suburbs,  a large location  for possible  Expansions  struggling to meet water needs for last  10 years, have some reason  to rejoice now. 

Many of who  are purchased properties and  flats around that localities are suffered for water to such greater extend ,  they are not even ready to come for staying. Others those have opted to stay  there due  to no option,  but go with what ever available, managed their  limited daily  need with the stinking  water  available.

This story is not far different than the most places  either  in Pune or in any other Cities, Suffer for basic needs  we call time good time.  “Highly  Affordable  Shelter generally  consist of  –  No Road – Electricity - No Water,  Turns  Luxury,  by  years of Political blessing , Department planning  and execution  is again a  matter of  long  life process”.

Prices remained attractive for  last 5 years, is on the up move now ,  soon after the declaration of the major Pipe Line work which is  about to start any time from now,  get ready to pay first  for the  speculation , same as every  were in the world.  Pune’s  top care takers are in search of a place to built  one more  Dam to quench the  city thirst  with  water , due  to short  of  summer shortage and growing population  with expansion of areas.

My Builder Friends  and colleagues  who are in extensive land development,  Constructions are holding  large  areas of land  around East Pune  waited  for  years  together,  for this  news to  come out .  Very few  promoter struggled and managed   to get  pipe line from far rivers but others could not succeed that due to expense and political intervention .  More over it is not viable to handle drinking  water pipeline  supply from KM away.

Oh!  Many  of them  can  mint  beyond dreams  very  good return  and cash in  of their blocked  land  holdings at lest from a couple of years from now. One more chance for all those missed out the first opportunity can  try for New launches by best developers in  Wagholi  EAST PUNE

I’m  Sure the early one who suffered and those who booked there   are making a good valuation on their property by "now"  and multiple by rather than "then".

 Are you among the few   waiting for some more correction to happen around  this area?

Konark Krish

Bhama Askhed Piple Line Project Bringing More Water to City . 

Who will benefit ?

Areas around Pune –Nagar Road 

Dhanori,  Kalas,  Vadgaonsheri , 

Viman Nagar  Wagholi, Kharadi and vicinities.

Hear me not ?  I suggest as I did last many years  but don’t  recommend,  but one thing sure that  paying  more make one  most assured.

Recently   I paid attention  to a  Face Book  Friend  asking me about  the same East West Pune Story,  his enormous doubts  started with  No Good road, hospital, Water system, Night street light system and goes on ........   but some of  his colleagues  are daring to jump  in, what shall I follow? 

It’s  so  happen he came all the way to meet me and put all the Good old  question and argument  in front. Though I spent hours to make him understand how this entire story work and you will benefit later.In short they are the “NEW MICRO CITIES”  having everything  one  want except a Railway  Junction.

Think it in  term of  Once life dream  to stay  in a larger  own  place,  yet one can’t access it so easy.  So, may be its time to run after guaranteed speculation  opportunities  - an attempt  to go a ahead  will  certainly  make sense. 

Bangalore Lakefront lack of Perfection

No Lakes!   No Views!  As I heard about  my Apartment in Bangalore

People who have booked large apartments in and around Bangalore,  trusting  the  Photos in the Brochure, are  viewing  something different than what they were dreaming all this days. I'm Sure by this time they might have paid complete price of their  property. 

Though my trips to Bangalore for meeting many Prominent Builders and few attendance in Property Exhibitions, it never struck my mind the way I heard on Diwali Day Morning.  

Started with  Summit Sharma’s Diwali  Wishes Call and later about the property he had purchased from a top most Builder, Which is due for possession.

Summit now says “ I ‘am no more interested  with this  Apartment  for the reason  my agent and the Promoter Cheated me, I have been cheated by the Pictures printed on the Boucher”. I told him - come on man, You had been to US & Europe only  for 13 years , between you made few trips to Bangalore. You are a senior person handling global Business transactions could have visualized the way Bangalore development's, instead of listening the entire Music the Indian Agent sung for you in US two years ago.

Give me some way out now, he asked me. My Simple question was, are you ready to lose 40% of the 2.2 Crore you have paid so far as the price to the Builder? Oh ! no, not to that extent of loss, it is very hard to earn that whether I’ am in US , UK  or anywhere in world, he replied.

Later on  the entire day I tried to learn more about lakes in and around Bangalore and the lake Views, what the builders explain during promotions and meetings.

Exceptional Builders having this wetland , mini-pond call it, Lakes are integral part of their property holdings, rest all claim about the sceneries around the localities.

Mass developments happening around the areas either lakes lost its water streams, debris dumped around,  filth getting  filled no one knows what is happening and whom to approach for such bad scenes around.

One thing is sure, I can’t blame the Agent for cheating or misguidance, he purely gone with what he was informed  by the counterpart in  US ,  approached   with  of the water body  story watching the picture with lots of highlights. It may work in Countries  who cares nature and environment  but that outlook  doesn't  work here anymore especially  with all promoters  around  India.  Our  visions and  approaches are different anyway, absolutely late for  Sharmaji, along with many nature lovers to understand with huge lose of money.

My  effort  to  pacify him worked  well  saying , you will earn good return after 3 years also and it is true in term of money, three years  or more can fetch good money compare to his US returns  views. Forget the love and  passion  for nature at least for some time and cling to your property and money.

IT corridor’s with SEZ and others damaged Nature view lovers who purchased in the vicinity of 200 lakes have the same concern of nature and the pitiable condition of this lakes, on their face and in their words. I ‘m sure that our Governing system will rise to save lakes once its ultimate devastation take place. Yes, we do it little  different than other countries, we bring back matters to normal only after the damages done and study later for decades.

Certain visionaries like Arbind Kumar Gupta, a citizen activist working for the rejuvenation of this cities lake’s by bring other to “Save Bangalore Lake Trust ”.

It seems the  max damages are over by now and many with Loud and clear eye opening will bring back the “View Water Front & Greens” back to part of Bangalore’s life.

What I could hear about is, more changes are on its way to happen within a short span of time, many passionate people like Priya Ramasubban a documentary film maker and many more are seriously taking  active part to put an end to this devastation. Environmentalist and Ecologist Dr.Harini Nagendra participating through their Research Trust.Many more NGO’s and other association Bodies have come forward to save............... Views as it is.

Once the Damages are over, We get to see a better LAKEVIEW Bangalore all over again 

 My touch  on  Environmental-Infra.