PROPGUIDE − A Complete
Property Guide
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Knowing that the commercial sector is much more resilient, experts are of opinion that the residential developers are now bound to foray and diversify their assets to ensure returns and profits. Is that what the residential developers want though? Let’s examine.
A consumer may not think too much before they go to the store and order the same, say, shampoo their favourite actor tells them to buy. If they eventually find out that the product is not fit for their taste they would buy another one the next time they visit the store. They may in fact outright stop using the product if they are displeased. Real estate is way too different from fast-moving consumer goods. The cost involved and the legal issues change everything for the property market.
The construction of the Bandra-Versova Sea Link will begin soon as the Maharashtra State Road Development Corporation has appointed Reliance Infrastructure for building the marquee project. The sea link will be thrice the length of the Bandra-Worli Sea Link.
Presenting Modi 2.0’s first Union Budget, finance minister Nirmala Sitharaman announced that the government would provide additional tax deduction of Rs 1.5 lakhs on interest paid on home loans taken up to March 2020, for affordable homes (up to Rs 45 lakhs). Considering the Reserve Bank of India (RBI) has brought down the repo rate to a record low by implementing a reduction in rates for three times in a row, the new proposal would encourage prospective homebuyers, who have been fence-sitters, waiting for a price correction, to invest in a property.
The Maharashtra Legislature on June 20 gave its approval for the inclusion of six new municipal corporations in the Mumbai Metropolitan Region (MMR). The districts, including Panvel, Raigad, Vasai, Alibaug, Khalapur, Pen and Palghar. With this, over 2,000 square kilometre (sq km) of land would be added to the existing 4,355 sq km area that falls under the Mumbai Metropolitan Region Development Authority (MMRDA).
