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Developing Iconic and Exclusive Communities for Holistic Living

2022-09-21
Real Estate Trends

The Best Places to Own a Property in Mumbai

Dahisar:

The requirement for property in Dahisar has significantly increased due to the real estate development that it has done over these few years. The progressive social infrastructure and a variety of choices in configuration make it one of the most preferred locations in Mumbai. 2 BHK Apartments in Dahisar are highly in demand due to it being a residential location primarily. Although, the region makes a very promising commercial hub as well with the upcoming IT park. Since it is a sophisticated location with most people being from the working class, the connectivity offered is effortless with Western Railway and the Western Express Highway. There is also the availability of Mumbai Metro that lets you easily travel in the western region.

Malad East:

Malad is one of the regions in the western suburbs of Mumbai which falls close to the Andheri and Borivali regions. This is a promising residential area for working professionals as it falls close to the commercial sectors in the western region. The connectivity with the western express highway and the western metro line along with the railway makes it very smooth for people to commute.

Marol:

Marol is the most accessible place in the western region of Mumbai with a lot of potential premium developers projects with ready-to-move-in homes. The main advantage of this location is the metro station right where you live. This gives you a quick commute to and from Marol to Andheri, Versova, and Ghatkopar. The IT Park in Marol makes it a demanding location for the working-class people. The international airport is just 4km away and the commercial sector of Andheri is 6 km away.

Goregaon East:

Goregaon is the connecting region for Andheri and Borivali making it the ideal location for affordable homes in Mumbai. The majority crowd here is young and energetic and that brings a lot of brands, restaurants, and other facilities in proximity. The Jogeshwari-Vikhroli road and the western express highway give unparalleled connectivity to the rest of the city. The Goregaon film city makes it one of the most fascinating locations in all of Mumbai.

Kurla West:

Kurla is one of the most accessible locations from the Bandra-Kurla Complex which is the topmost business hub in Mumbai. Kurla west is preferred by professional working people due to its proximity to the commercial developments and the affordability that makes it pocket friendly for them. Kurla connects you directly to the western region through the Bandra-Kurla complex and the railway station connects you to the central and the harbor region of the city.



Real Estate Trends

Impact of RERA on Indian Real Estate

RERA or Real Estate Regulation and Development Act was enacted in 2016 to bring transparency, accountability, and efficiency into the real estate sector. The rising demand for housing and commercial estate led to a significant increase in property prices. Since there was no regulatory body for the real estate industry, some builders and developers were exploiting homebuyers to benefit from the high prices. The projects were delayed, the plans were being changed without informing and many people were duped of their life savings and hard earned money. This led to the enactment of RERA which mandates important rules and regulations for developers.

This blog will discuss the impact of RERA on the Indian real estate industry.

Transparency and Accountability

RERA has mandated that all project details including timelines, layout plans, and status of statutory approvals be displayed on the RERA website. This helps buyers to be sure of what they purchase from the developer and the developer cant make ad hoc changes. This helps build trust between the developer and the buyer in Mumbai real estate.

Timely Project Completion

One of the most common issues that home buyers faced was delays in project delivery. This caused stress to buyers whose funds would be stuck in the projects while they were without a residence for years. Implementation of RERA mandated that projects not delivered as per timelines would be liable for penalties. Also, developers must place 70 percent of project funds in a dedicated escrow account to be used exclusively for the project. These measures have reduced project delays significantly, instilling confidence among home buyers in the timely delivery of their homes.

Standardized Sales Agreements

RERA mandated standardized agreements clearly outline the obligations and rights of the builder and the buyer. Earlier, builders would make faulty one sided agreements benefiting them. Standardized agreements have ensured a fair and balanced contract between parties, reducing conflicts and disputes.

Grievance Redressal

RERA has established a robust grievance redressal system by setting up Real Estate Regulatory Authority and a Real Estate Appellate Tribunal in each state. These bodies are responsible for addressing complaints and disputes in a timely and efficient manner. Buyers are now empowered as they can approach these bodies with complaints about project delays, construction quality, and changes in project plans.

Investor Confidence

RERA regulation and implementation have instilled confidence among investors to invest in the real estate sector in India. RERA has ensured that projects are completed and delivered on time and that investors and home buyers are not duped. This has attracted investment of national and international players in the sector resulting in its stability and growth.

The RERA has had a significant impact on the property market and is one of the reasons for its growth in real estate investment. By ensuring timely project completion, standardization, and a robust grievance mechanism promoting professionalism and ethical practices among developers. The Indian real estate sector has become more transparent and efficient resulting in its growth.

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Real Estate Trends

Luxury Flats in Dahisar: What Makes Them Stand Out

Dahisar was once a suburb where the middle class would live and commute to south Mumbai for work daily. It was dominated by cooperative societies with gated communities and basic amenities. These premises would at best have an open ground for kids to play cricket or a garden with benches to sit. These facilities too were a privilege then. Fast forward to today, where we see swanky high rises with luxurious amenities and facilities that were unheard of. The new luxury flats in Dahisar are desired by every person who wishes to live a modern life in style. Let us look at the reasons for this. Elevated Living Luxury projects in the Dahisar comprise high rise towers rising to dizzying heights of up to 40 and 50 floors. Living at such heights is a unique experience as you are cut off from the hustle and bustle of the city down below. The open skies and fresh air give a sense of freedom and heightened luxury. It also allows for space and privacy like never before. Luxury 3 BHK apartments in Dahisar have large balconies where one enjoys the luxury of the sunrise, sunsets, and spectacular views. Panoramic views Luxury apartments in Dahisar have unobstructed views of the lush green Sanjay Gandhi National Park. The proximity to the national park is a blessing for residents of Dahisar. Residents of 2 BHK flats in Dahisar East can enjoy the horizon during the day and the clear starry skies at night. From the high rises residents can indulge in star gazing at night or soak in the heavy rains on their balconies during Mumbai monsoon. Specifications and Features Luxury flats in Dahisar boast exceptional architecture, interiors, and specifications. The homes are designed so that they are bright and airy. The fixtures are branded of the highest quality. Most flats may have added benefits like modular kitchens, air conditioning, and built in wardrobes. The security systems in these projects are of the highest level with CCTV surveillance, video bells, security personnel, and apps all working together to provide the best possible protection. Amenities Amenities like a swimming pool, clubhouse, and gardens have become common. To distinguish themselves, luxury projects provide amenities that are grand and opulent. The amenities can be distinguished into fitness, lifestyle, and social amenities including podium level and terrace swimming pools, pool decks, barbecue areas, party lawns, cafeterias, sports stadiums and courts, meditation halls, and many more. They promise a lifestyle of grand opulence where members can remain fit, rejuvenate, and socialize. Some may even enjoy solitude in libraries, cafes, and lounges. These special qualities make luxury flats in Dahisar stand out. ...
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