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  • Real Estate Investments in Mumbai & around Mumbai in Maharashtra state?

    Having a query about real estate investment in and around Mumbai? Looking out for detailed information about the appreciation after 5 years, the concept of budget home and the prime minister avasa yojana? Scroll through this Ask Expert page and get answers to all your queries here.

    Is it the right time to do investment in real estate in & around Mumbai in the Maharashtra state?
    I have some projects beyond Kalyan & Badlapur. The real estate belt from Vaghani to Karjat is developing very fast.
    What is the opinion for investment at the above said belt? What is the appreciation down the line for 5 to 10 years in real estate in Maharashtra state at different places?
    Is the budget home concept getting attraction? What is the meaning of budget home?
    What is the prime minister avasa yojana? Who are eligible for the yojana?
  • Answers

    2 Answers found.
  • Due to overcrowding in Mumbai as well as Navi Mumbai, now the builders are coming up with new projects in peripheral to quite far projects and they are getting popular with the real state investors. The whole region is going to be in abundance of housing units mostly in tower flats though some builders are offering Vila type row houses also.

    Due to the containment of black money in the aftermath of demonetization and reforms in real state sector the increasing trend of property has been arrested and at present a stagnation has come in the market. The builders are offering good discounts and providing fully furnished houses to lure the customers. It is difficult to predict the trend now as many economic and financial policies of the Govt decide and govern these trends.

    As the prices are almost stagnant and there is a scope of bargaining, it is a good time to invest keeping the long time horizon in mind. Please note that the locations which are near to the main roads and have developing markets and infrastructure will be the crowd puller in the future. The availability of good educational facilities is another aspect which can not be ignored. One more point is go for the housing scheme where sufficient parks and other green coverage is provided.

    The areas adjacent to Karjat etc are also prospective seeing the presence of the famous tourist place Matheran at one end and other large number of projects coming in the nearby areas.

    It is said that gold and real state property eventually go up in spite of their present day stagnation. History is full of the proof of this belief.

    Budget home is a concept in which one can calculate his future potential for getting a house constructed or can be purchased based on ones earnings and future financial prospects considering the family responsibilities also as a part of this financial exercise. This is a good concept but it will take time for the people to understand it fully and take its advantage.

    Pradhan Mantri Awas Yojna is basically for the lower income group people many of whom are living in slums or lanes in congested areas. As per this scheme, the central assistance to Urban Local Bodies (ULBs) and other implementing agencies will be provided for rehabilitation of slum dwellers and there is provision of subsidy like credit linked subsidy, beneficiary's individual construction related subsidy etc.

    Knowledge is power.

  • The demand in the real state is not picking up and the saturation level in this area is being seen for almost five years. Such a stagnant level is because of twin facts - 1) A close watch by the Government - officials including the Income - tax authorities regarding the amass of wealth through Black - money and shortage of investors interested for the massive statement in the real state.
    However, the present story would not sustain any longer in the future say in Mumbai or its adjacent area such as Navi Mumbai. Even the location of Karjat looks very promising in the upcoming time.
    We should not be guided by the present lacklustre trend in the real state and the demand is bound to pick up as the population multiplies and the reacher section of the societies would like to have independent Vilas in the Posh - localities around Maharastra - region.
    Pradhan - mantri Awas Yojna is scheme to facilitate in the rehabilitation of the poor section of the society providing monetary relief up to the extent of 2.5 lakh in the constructional activities of their dwelling houses.

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