NEW DELHI: India’s eight major cities saw launch of 1.32 lakh homes during January-September 2013, up by five per cent from the year-ago period, according to global real estate consultant Cushman & Wakefield.
These eight cities — Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, NCR and Pune — had witnessed launch of 125,590 residential units during the corresponding period of 2012.
As many as 31,434 units were launched in affordable segment, while 75,529 and 24,032 homes were introduced in the middle-income and high-end segments, respectively. Nearly 1,100 luxury homes were also launched.
Malad is a western suburb which has evolved in the last 10 years with the growth of Mumbai. A sea change from the East Indian Catholic village that it was traditionally, Malad is now recognised as one of the new residential and commercial hubs of the city.
Though Malad West is the more developed and lucrative investment option, the East part of the locality has also recently developed.
Malad enjoys connectivity to other Western suburbs such as Goregaon and Andheri. Access to the Western Express Highway and the Eastern Express Highway has brought this area into favour.
Rustomjee is coming up with two projects, Rustomjee Ozone and Rustomjee Elanza both located on Goregaon – Malad Link Road. These projects have already announced possession. More projects are expected to be announced.
For many owning a house is a dream that calls for a strict financial discipline, as the loan repayment tenure ranges from 10 years to 25 years. Housing, a basic need, also enables access to credit market by working as collateral/security.
A report by real estate services firm, Cushman & Wakefield, this month said the estimated demand for office space across the top eight Indian cities during 2013-2017 is expected to be 132 million sq ft (msf). The supply of new office space during the same period expected to be approximately 143 msf of which approximately 90 msf is under construction and expected to be completed by 2015.
“With economy expecting more stability in the post election phase from 2015, the absorption is expected to pick pace in Bengaluru, Mumbai and NCR. We expect growth to set in from the second half of 2014 when an increase in leasing activities both on account of entry of new companies, expansion of existing companies and relocation and consolidation activities that are expected to continue,” said Sanjay Dutt, executive managing director, South Asia, Cushman & Wakefield, in the report.
When investing in an apartment or a house, the first time buyers should be careful about additional charges such as taxes and maintenance, which he reckons only after the deal is struck and the details are explained to him.
Besides the cost of the property calculated per sq.ft for the total are, the buyer has to plan additional 20-30 percent of expenditure on stamp duty, registration fee, service tax, advance deposit of maintenance charges for 12 months, legal charges, water and electrical connection fees, car parking, club charges and other charges.
Goregaon has immense potential and is on its way to becoming a destination of choice for discerning Mumbaikars.
Assessing the potential of Goregaon, at an early stage, Rustomjee provided world-class facilities starting from ample car parks, a large green podium with amenities like clubhouse, play-zones, water bodies etc for the benefit of the residents at Rustomjee Ozone.
The commercial and residential sectors constitute the major markets for the real estate industry in India. These sectors also consume a lot of energy and contribute significantly to greenhouse gas emissions. As per an official draft (Modern Building Bylaws for Construction of Green Buildings) by the Town and Country Planning Organisation, Government of India, “In a typical residential building in India, approximately 60 per cent of the total electricity is consumed for lights, 32 per cent for air conditioning and 8 per cent for refrigeration.” Considering this, it’s a no-brainer that if investment were not an issue then there’s no reason that any building should shy away from the green option.
Notwithstanding the ECBC, there are certain top builders who believe that the process of constructing green buildings commences at the site selection and the design level itself. Reasons Boman Irani, Chairman and Managing Director, Rustomjee Developers, “The windows and the doors must be placed in the manner that they cut direct sunlight to reduce heat gain, while letting the rooms get enough air flow through cross ventilation. The site’s closeness to the public transport system too is reckoned, which helps in reducing the dependence on private vehicles that contribute to the carbon emission.” Apparently, post designing, construction material must be procured within the vicinity and must be compliant to the principles of re-use. Instead of bricks, fly-ash concrete blocks for building purposes should be used.
Rustomjee Elanza, Malad has been featured on the list of tallest buildings in the commercial capital of the country!
Standing high at 160 metres each, the 3 buildings at Rustomjee Elanza are ranked at number 23, 24 and 25 respectively!
The apartments in Malad offer for a serene residential environment with all the state-of-the-art lifestyle amenities. The houses in Malad are in close proximity to the Western Express Highway and Entertainment destinations such as Inorbit Mall and Fame Adlabs.
Rustomjee Elanza is considered to be one of the superlative project and one of the best property investments in Mumbai, that is being launched by one of the eminent developer Rustomjee. The prime objective of this project is to offer you a serene environment for your loved ones. Despite being located very close to the city, these flats in Malad are being positioned totally away from the noisy as well as the polluted locality of the city. It is totally complete with all the state of the art lifestyle amenities thereby making you proud to possess this home. In order to create a stunning living experience, each residential project in Mumbai, by Rustomjee, has a beautiful infrastructure as well as enjoys the advantages of being at a strategic location.
Luxury real estate, that remained muted in the first half of 2012, picked up demand third quarter on, according to consultants and analysts. The industry describes projects priced beyond Rs 5 crore in Delhi and the National Capital Region region as luxury, but the benchmark is Rs 10 crore for Mumbai.
Data from Propequity, a real estate advisory and consulting firm, shows a 68 per cent decline in the absorption of the luxury units in the first quarter of 2012, compared with the same quarter in 2011. In the second quarter, the rate of decline was 22 per cent, and was down to just three per cent in the third quarter.
On the ‘City of everlasting dreams’ with nation-wide curiosity surrounding the changing graph of the real estate business, the Magazine features prominent personalities from the Real estate industry to get a general overview of the prevailing trends in the business and the future of the industry as they perceive it.
Mr. Percy Chowdhry, Director, Rustomjee shares his opinion on various topics like – the increased inflow of income that has taken the standard of living of pople notches higher, developers catering to different target groups like children-friendly homes, homes for senior citizens etc, hence customizing homes as per their consumer’s taste, policy paralysis that is affecting the industry, undue delays in various clearances from the State govt. and the civic body.
Mr. Chowdhry also highlights on the trend that consumers today are spoilt for choice with varied offerings by developers that aim to enhance their quality of life. Hence, all of Rustomjee’s spaces and equipment are carefully designed and selected to ensure that the residents and their children receive the maximum amount of enrichment from the spaces they live in.