If you are living as a tenant in Mumbai and seeking to buy a house this year, there seem to be quite a few confusions going around. While some of the reports and projected forecasts may give you a ray of hope, it would rather mislead you and your wait for a cheaper home may actually cost you to pay more in future.
Atul Modak, City Head of Kohinoor Group of companies says they are bullish on the Mumbai realty market and have a couple of residential and commercial launches coming up this year. In an interview with Ravi Sinha, he wondered that in a market where input costs are going sky high, how can the market go downwards?
In what real estate experts see as a sign that land rates are becoming more realistic, a 135-acre plot that belonged to the defunct PAL-Peugeot auto company in Dombivli has been auctioned off to Metropolitan Infra Housing Pvt Ltd (a subsidiary of Gammon India) for Rs 601 crore.
The Maharashtra Chamber of Housing Industry’s (MCHI) 14th India Realty Expo 2010 has expressed satisfaction over the non resident Indians (NRIs) keen interest. The MCHI said in a statement that many NRI couples were looking up and evaluating options and the Participating developers and banks have reported receiving “solid enquiries” and many expect deals to be closed.
Various factors can negatively affect the value of one’s real estate assets. Being aware of these is an inalienable part of successful property investment.
With the economy giving indications of recovery and real estate companies putting up a brave face, the question as to whether this is the right time to buy property has yet again been raking up. If the industry figure is to be believed, it seems many of the prospective home buyers who had put their plans on shelf due to the threat of job loss & inability to pay the EMIS borne out of recession are back in the property hunt.