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Track2Realty Exclusive: For quite some time the developers in Mumbai were making pitch for the review of FSI in the city which they termed as archaic. Their grouse has not been lacking the merit also.
Atul Modak: The perception that you are talking about is true. On that we had a meeting with the members of MCHI-CREDAI and the focus was this poor perception that builder is chor (thief), not interested to give possession and he will take away your money. But that is not the case as in majority of the cases developers’ intention is good. They want to deliver project on time, but because of delays in approvals, added to the funding gap and he has nowhere to go once he has launched the project.
Track2Realty Exclusive: A festive spirit only adds to the buyers’ sentiments in the property market. It can not be catalyst to new sales if the sentiment in general is low, as has been evident in the property market of Mumbai in the last 3-4 years due to general slowdown and other macroeconomic subdued indicators. However, if the sentiments are bullish a festive season can turn out to be catalyst to market revival as well. That is very much expected in the Mumbai property market this time around, thanks to the change in the overall outlook.
Track2Realty Exclusive: Gudi Padwa is considered to be an auspicious occasion as it marks the new beginning of the Hindu New year and brings new hopes to every body’s life. People traditionally make important decisions and investments on this day. They believe in luck and prosperity and prefer buying homes during Gudi Padwa. During this period, usually developers come up with new launches, special schemes and discounts. Mumbai property market always looks forward to bright days on this auspicious festival.
Track2Realty: The Royal Institution of Chartered Surveyors (RICS), the world’s leading professional qualification and standard setting body in land, property and construction sector and Amity University have established the RICS School of Built Environment, Amity University at Noida campus, to address the shortage of skilled professionals in the sector.
Track2Realty-Agencies: A builder who failed to start a Greater Noida residential project on time has landed in trouble as a consumer court in New Delhi has directed him to pay compensation of Rs.3 lakh and refund the over Rs.49 lakh cost of a flat to a complainant.
Pranay Vakil: As a developer if someone wants to come and tell you Atul that instead of borrowing at 11.5 per cent or 12 per cent, whatever the rate lender gives you, you will get this money at 3 per cent, how do you react?
Track2Realty: Raising an alarm against rampant unauthorized construction in Raigad district, developers’ body MCHI-CREDAI’s unit has appealed to the authorities to take immediate action against errant people and save gullible home buyers from falling into a trap.
Ravi Sinha: But if we go by that yardstick, my question is that in the major real estate markets across India do we have that kind of projects where ECB would be viable?
Track2Realty-Agencies: 45 people have died, over 50 are injured, and 20 people are still missing as rescue workers continue to cut through the mangled steel and concrete remains of a seven-storey building which collapsed on Thursday evening, April 4, in Mumbai suburb Thane.