Real Estate property Sector to be big Creator of economic chance in 2013

Mumbai City – India’s no one real estate field is estimated to have a total supply pipeline of close to 3.6 billion sq ft lined up to development in the year of 2013, with about 99% of this being concentrated in the residential property in Mumbai, said a report prepared by CBRE titled.

The recent report gives a broad view of the extent of economic opportunities generated by the construction and real estate sector in the India. It described the real estate constructor sector as an important component of the development industry.

One of the popular Anshuman Magazine, chairman and MD of the Real Estate industry and CBRE South Asia private limited company, said, “The probable for Property at Mumbai construction and growth in the real estate field is tremendous. It is expected to generate more than 17 million job opportunities across the country through 2025, therefore marketing significant contribution to the GDP. In additional, the real estate industry does require the support and encouragement of policy makers in order to achieve its aims.” 

If we see the previous report of Properties Mumbai then we get, the total economic footprint generated by the development of this real estate pipeline will require a total investment of about RS 255,000 crore, will help generate revenues worth RS 375,000 crore, and offer employment to about 7.5 million people across the India in the year of 2013. The total help of the real estate field to the National GDP has been estimated to be about 6.4% in 2013 till end. Now, this footprint is restricted by many challenges inhibiting the field such as high borrowing interest rate, lack of financial companies, lengthy approval processes and uneven infrastructure development and slow,” it said by Mumbai realty market expert.

Loharia Murder holder: Mumbai HC Grants bail to Real Estate Agent

Mumbai city – the Mumbai high court on Monday afternoon accept bail to real estate agent and construction developer, sumeet Bachewar, arrested for hatching the conspiracy to murder real estate Builder Sunil Loharia. He has a lot of property in Navi Mumbai for new construction.

Although, Bachewar was accepted bail on a surety of Rs 55,000 by Justice Abhay Thipsay, and other Justice RP Sondur Baldota deny the anticipatory bail application filed by co-accused and real estate builder Suryaprakash agarwal in Mumbai on Monday 22-July-2013.

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Developers to Offer Property in Mumbai for Sale at Low Rates

Mumbai has been witnessing a fall in the home sales and this has prompted the developers in the city to offer Property in Mumbai for Saleat lower rates than the existing prices. By cutting the edge of prices, the developers hope that they will be able to gain some takers for their unsold inventories. In case if they still not find any takers for their unsold inventories, then they are sure to face severe crises and to fall into worse situations.

Most of the developers have taken loans from mainstream banks and other private financiers. Besides this, they have also taken loans from the investors, offering them assured returns up to 15 percent. Thus they must sell out their properties as soon as possible, lest they will surely fall into deep troubles. This is one of the main reasons why they have decided to offer their new properties at lower rates. Not only in Mumbai but also their Property in Navi Mumbai also are offered at lower rates now.

Though the properties are offered at lower rates, the takers are not convinced and they are not interested in buying out Property in Mumbai For Sale. This is mainly because the prices are still beyond the reach of the people and they find it really hard to buy out any of the properties. On the other end, the investors are also not interested in the residential properties now.

Earlier, Mumbai was one of the top cities where the investors remained highly competitive to one another. They were not leaving any stones unturned but now the situation has undergone vast changes as there are only few investors in the city now. You may feel that the city is still full of investors, what I mean here is that the investors’ number has been reduced very much. Now they are looking for Property in Navi Mumbai, Thane, Pune and other nearby cities than Mumbai.

Investors now do not dare to have investments in the residential segment of Mumbai due to the vast number of unsold housing units. Till these units are not sold out, there may not be any more huge investments. There are many small scale investors who invest in one or two properties, aiming to own profit and returns from their investments in the form of rentals. real estate developers in Mumbai are loaded with heavy debts, which have affected their new projects as well.