How the real estate regulatory bill impacts investors

How the real estate regulatory bill impacts investors

Green Concept

Source:reisuccessacademy.com

Home buyers have long been at the mercy of unscrupulous developers. The Real Estate Regulatory Bill now allows setting up of an apex body to regulate all real estate activity in the country. Here is how you will benefit.

Higher transparency

There are numerous horror stories of buyers booking flats in a project during pre-launch, only to find out later that the necessary approvals have not been obtained. The Bill seeks to clamp down on developers by disallowing pre-launches of projects where approvals from the local authorities and registration from the regulator are pending. Developers will have to disclose approval status, project layout and timeframe for completion to the regulator and customers.

Timely possession

Often the reason for inordinate project delays is diversion of funds to other projects. The developer will now have to park 70% of the project funds in a dedicated bank account at the outset, which can only be used for the earmarked project. “This would ensure timely construction and act as a safeguard in the event of any inordinate delays,” says Sanjay Dutt, MD (India), Cushman & Wakefield.

Know what you are paying for

Developers will now have to sell homes on the basis of ‘carpet area’ and not the ‘super built-up area’. The latter was often misused by developers to levy additional charges for common areas.

Get what you are promised

Builders often advertise designs and amenities of a project, only to deliver a finished product far removed from the claims. Developers will now have to return payment with interest to buyers who are misled by statements or representations in any form. Also, the developer will not be allowed to make any changes to the original plan midway without the written consent of at least two-third of buyers. In case of any deficiency noticed after handover of possession, the buyer can contact the developer within a year to seek after-sales service.

Developers have to be accountable

The Act proposes to bring parity between the buyer and seller by making the latter liable to pay the customer the same interest as demanded of the buyer. In case of disputes, the Appellate tribunals will have to adjudicate within 60 days and regulatory authorities will have to dispose of complaints in 60 days. The Act also provides for imprisonment up to three years in case of promoters and up to one year in case of real estate agents and buyers for violation of orders of tribunals or monetary penalties or both.

Relief for existing buyers also

Existing buyers facing delay in getting possession will also be covered under the new Act. While under-construction properties are sought to be brought under its ambit, it is unclear how this will be implemented.

Cidco has planned a better version of Bandra-Kurla Complex (BKC) in Kharghar.

Cidco has planned a better version of Bandra-Kurla Complex (BKC) in Kharghar.

NMCP

The city has gone beyond its status of having an international airport, as Cidco has planned a better version of Bandra-Kurla Complex (BKC) in Kharghar with a layered structure with a pyramid-shaped central hub of high rises.

The proposal will be tabled before the board next week on Wednesday, after which it will be forwarded for the state government’s approval, said managing director, Sanjay Bhatia.

The new structure (name yet to be assigned but informally described as BKC-II) will encompass an area of 200 hectares factoring in the central park and golf course. The actual corporate hub will be on 125 hectares of land.

Cidco has decided to have a layered structure with the outer fringe to be developed with 1-2 FSI while the core area will have 3 FSI. Around 50 % of the area (120 hectares) has been set aside for the high rises with 3 FSI for the pyramid-shaped structure. Plots will be auctioned for corporates with the richer entities vying for the hub of the corporate park.

Shops and commercial properties will also be developed so that there is night life unlike BKC.

Proximity to the international airport and the metro project worth Rs 13,000 crore, will provide high class infra, Bhatia said. The entire Kharghar node along with nearby industrial Taloja will get connected to the new airport lending an opportunity for businesses to hop between work stations and the airport.

Top reasons why to invest in Real estate market of Ulwe , Navi Mumbai.

Top reasons why to invest in Real estate market of Ulwe , Navi Mumbai.

“ The City Of the Future ” 
• “One of the most promising upcoming node in Navi Mumbai-‘Ulwe’ has left behind all other areas of Navi Mumbai”
• Ulwe Node is the 10th township taken up by CIDCO for development as a part of Navi Mumbai Project
• This node is situated along the south western water front of the CBD of Navi Mumbai and extends down towards theJNPT port in the south
• Ulwe Node is strategically located across the Panvel Creek and in visual contact with CBD at Belapur & Seawoods- Nerul
• This node is planned for an overall population of 3.90lacs; The total gross area of this node is 1,486Ha
• Out of this 12.5% (approx. 434Ha) and ~242Ha for NMSEZ 
• On the north east side of this node the is the proposed Navi Mumbai International Airport
• Upcoming Navi Mumbai International Airport(NMIA)
• Proposed Nerul-Uran railway line pass through Ulwe & this node has two railway stations      i.e.‘Bamandongri’ & ‘KharKopar’
• Upcoming Navi Mumbai Metro Rail
• Upcoming Mumbai Trans Harbour Link(Nhava-SewriSealink)
• Upcoming Navi Mumbai Special Economic Zone (NMSEZ)
• Easy access to developed nodes like Belapur, Seawoods & Vashi
• Ulwe is having its own fire station which will be one of the biggest fire stations in Navi Mumbai
• A coastal expressway (PALM BEACH road type) connecting Ulwe with Seawoods is Proposed by CIDCO

The transformation of Ulwe from a drowsy suburb into a realty hotspot in only a compass of five years is absolutely wonderful. Improved and kept up by the City and Industrial Development Corporation of Maharashtra Limited (CIDCO), Ulwe is a hub of the city of Navi Mumbai. Taking after the publication of Navi Mumbai International Airport in 2010, designers and speculators began rushing toward the range. For more details visit www.greenconcepthousing.com.

Top reasons why to invest in Real estate market of Ulwe , Navi Mumbai.

Then again, in the last quarter of 2012, the upper worth extent of property in Ulwe was as high as Rs 7,600 for every sq ft. Today, these qualities have dropped to Rs 4,900, unmistakably portraying a drop of about 55 for every penny in the most recent one year. Though there are a few explanations behind this, lack of determination over Navi Mumbai Airport, general drowsiness in the business sector and political shakiness are few elements that have affected the realty business of Ulwe.

Still, since the last seventy five percent, property estimations have remained stable. Along these lines, does this imply that it is the best opportunity to take a plunge in Ulwe’s realty market? However shouldn’t we think about the individuals who contributed two years back and accumulated nothing? Would it be advisable for them to passageway the business sector? Alternately sit tight for the airfield, the 22-km Trans-Harbour join from Sewri to Nhava-Sheva and the Seawoods Uran Railway Line to turn into an actuality?

Today, there are different engineers in Ulwe who have started their tasks. These incorporate Tesaj Builders and Developers, Today Global Group, Paradise Group, Platinum Construction, Titanium Builders and Developers, Mega Group, Sunny Builders and Developers, Shreeji Associates Builders & Developers, Sharda Enterprises, to name a couple. A large portion of the activities recorded on Magicbricks are slated for conveyance in 2015.

The property estimations in Ulwe have demonstrated steep good and bad times. Notwithstanding, the region is slated for a jump later on as some foundation overhauls are in the pipeline. The range appears to be a sanctuary for speculators with a dream of no less than three to four years. “When the airstrip begins and line gets useful.

An alternate element that makes Ulwe a potential choice is investment practicality as far as capital qualities when contrasted with the neighbouring Nerul. As of now, “a loft of 1000 sq ft in Nerul is accessible in the value band of Rs 1-1.5 crore. On the other hand, a loft of same size in Ulwe is effectively accessible inside the reach of Rs 40-50 lakh,” includes Mathai.

Interestingly, “the interest in Ulwe has begun grabbing subsequent to past one month. With or without runway.
Here is same property from Ulwe where you can invest

Today Genesis
Multistorey Apartment
Area Range :- 1168Sq.Feet
Bedrooms :-2 BHK
Price Range:-73.58 Lacs – 85.50 Lacs
Location :-Ulwe , Navi Mumbai
Possession By:-DEC-2018(Ongoing)

Today Euphoria
Multistorey Apartment
Area Range :- 1060-1626Sq.Feet
Bedrooms :-2 BHK,3 BHK
Price Range:-72.02 Lacs – 1.10 Cr
Location :-Ulwe , Navi Mumbai
Possession By:-DEC-2018(Ongoing)

Today Callisto
Multistorey Apartment
Area Range :- 1165- 1635Sq.Feet
Bedrooms :-2 BHK,3 BHK
Price Range:-75.72 Lacs – 1.06 Cr
Location :-Ulwe , Navi Mumbai
Possession By:-DEC-2018(Ongoing)

Bhagwati Imperia
Multistorey Apartment
Area Range :- 1235 Sq.Feet
Bedrooms :-2 BHK,3 BHK
Price Range:-86.45 Lacs – 1.16 Cr
Location :-Ulwe , Navi Mumbai
Possession By:-DEC-2018(Ongoing)

Akshar Grey Stone
Multistorey Apartment
Area Range :- 1720 Sq.Feet
Bedrooms :-3 BHK
Price Range:-1.12 Cr
Location :-Ulwe , Navi Mumbai
Possession By:-Dec-16

Bhagwati Bellavista
Multistorey Apartment
Area Range :- 690 Sq.Feet- 710 Sq.Feet
Bedrooms :-1 BHK
Price Range:-37.95 Lacs – 39.05 Lacs
Location :-Ulwe , Navi Mumbai
Possession By:-Dec-16

Lakhanis Prestige
Multistorey Apartment
Area Range :- 675 Sq.Feet- 1175 Sq.Feet
Bedrooms :-1 BHK,2 BHK
Price Range:-41.85 Lacs – 73.16 Lacs
Location:-Ulwe , Navi Mumbai
Possession By:-Dec-16

Rasayani – History and future

Rasayani – History and future

Rasayani is a fast growing area in the extension of navi mumbai which makes it favourable  location for investment in Real Estate. Rasayani is Close to the nature, it is connected with several tourist attractions like MIDC Hill, Patalganga Dam, Morbe Dam, Karnala Fort, Manik Fort, Raseshwar Temple and many more.

Rasayani, near panvel has all kinds of education is available. It is a good place for all members of the family to grow and excel in education and work

  • HOC School (English Medium)
  • Pillai HOC College of Engineering & Technology, Rasayani
  • Pillai HOC College of Architecture
  • Pillai HOC institution of management studies and research (PHIMSR)
  • S.T. Joseph Convent School (English Medium)
  • P.R.I.A. School (English Medium)
  • J.H. Ambani School(English and Marathi Medium)
  • Janta Vidhyala Mohopada (JVM) (English and Marathi Medium)

Rasayani Railway Station: West: 1.5 km away

Panvel Railway station: 12 km away, on the NH4

Chowk Railway Station: 5 km away on NH4

Karjat Railway station: 19 km away on Karjat road

Apta Railway Station : 6 km away

The location is also linked with frequently running  ST & NMMT bus services that connects with all major destination hubs. Rasayani is strategically located in between Pune & Mumbai.

  • 60 Km from Mumbai
  • 17 Km from New International Airport
  • 35 Km from Nhava Sheva Sea port
  • 28 Km from Vashi Navi Mumbai
  • 99 Km from Pune

Rasayani has a long tradition for having major hospitals & all types of treatments is offered here.

  • Ambani hospital
  • HOC Hospital
  • Rege hospital

For More Details www.kalashcitypanvel.com

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