Navimumbai a heaven for real estate loot

Hi Friends,
Title of the blog is quite catchy isn't it
Hope you all like it

Well navimumbai has seen tremendous growth is the past few years and so has the whole of India. But one thing that one doesn't see is good and reputed and listed developers having their projects in navimumbai. Occasionally when I meet these people at seminars or functions I have asked them why they shy coming with their projects in navimumbai and surly nobody has a straight face answer to it by a cryptic one.

All of them with unity would say that CIDCO doesn't give them space for projects and that too cheap.

((Latest tenders for sale of plot at airoli was open for upward of Rs 78000/psqm that means and average Acre in navimumbai costs a whooping 31Cr and a permissible FSI of 1.5 this brings the cost of land purchase down to 23 Cr which when converted on Sq. Ft basis would and to Rs 5341/Psf now at this cost if you add the cost of construction of Rs 1200/psf the cost for development of 1 Sq Ft works out to a good Rs 6500 Psf and add to that the developers profit of atleast 35% the cost of working comes down to a neat Rs 8700/psf deduct the super built up loading charges at 50 % and the builder may come down to say Rs 5000 psf ))

Now we see a mechanism of loot by the builders in navimumbai were you say If you purchase a  1000sq ft house you would get a house with just 510sq ft carpet area
Believe me as i am not kidding.

Well here the nodal agency that's CIDCO which was suppose to bring affordable house to the Lower and the Middle Class has forgotten its role.

real estate in navimumbai

Hi Friends,
The Real Estate has been seeing wild swings in the market just dont
know how its reacting.
Every day get to see some thing that i would like to avoid
very bad situation as far as the market is concerned

just heard from the Registrar of Lands was contemplating transfer
to better place like vashi/cbd was saying the quantum of
registration has come down.

well if you are a unlucky buyer was not bought a flat in the bull market
from 2009 to 2011 march then pray to god this season you could be
lucky house hunting


with the sharp 3.5% increase in interest rate by RBI in the last 11 months
the marrket has seen will see some serious price correction  in purchase
 and this your chance go to the market get one to one with your seller and
 you may have a chance of a good deal in your favour and if you are going
 to deal with developers just watch you step you could get huge discount
and their rates but keep your eyes open till you have not closed the deal

 luv