Maharashtra Real Estates

Maharashtra, also referred to as the ‘Power House of India’, is the industrial hub of India. Commanding the industrial development of the country, Maharashtra has already established a trend in the growth of real estate in India. Economic development has resulted in the rapid development of both residential and commercial property in Mumbai, Solapur, Pune and Nagpur. The demand for Maharashtra real estates is considerably high in Aurangabad and Nashik. Maharashtra Industrial Development Corporation has already come up with several industrial townships in different parts of Nagpur, Pune and Dhule.

As per ECA International report, Mumbai ranks seventh among the most expensive cities of the world. Owing to its perpetual hike in the property prices, the demand for real estate has gone up in Mumbai. Increased demand for residential property is one of the reasons for the hike in property cost. Growth of other business centers in India is another reason for such a rise in property prices. To meet the demands of the low-income group, Matheran Realty Pvt Ltd (MRPL) has declared a mega township project in Karjat.

Pune is also witnessing a on-going development in the real estate sector. The soaring land prices is the consequence of the great demand for land. The bonanza in Pune real estate market is promoted by government of India’s decision to grant 100% Foreign Direct Investment in the real estate sector.

The value of real estate is increasing day -by-day in Nagpur, Maharashtra. The real estate property brokers help their clients to evaluate the exact price of the property and sell it at a good rate. They also assist in finding out and purchasing suitable property with uncomplicated agreement terms. All these factors have led to more and more real estate investment.

One Comment

  1. Posted August 4, 2008 at 4:09 am | Permalink

    After the “20:20” kind of price escalations in the real estate market in the first home sales or second sales, it seems that owners of apartments want to do the same with leasing as they are trying to increase rental values now; each new listing in a new building is coming at a different price. While there is no set indicator or a barometer for rental values, it seems that the Mumbai real estate market is set for another battle, and this time around it is on the field, with the licensor and licensee. Many companies who have operations in the financial capital of India give their employees a set amount, popularly known as HRA (Housing Rent Allowance ). Budgets are set keeping several factors in mind and companies do revise this annually. The maximum increase each year is not beyond 5 to 10%.However, with the real estate market jumping up in capital values, owners are now expecting a much higher return whenever they jump a tenant. This is creating a big problem with MNCs as they have to raise the HRA to suit market conditions. The large increase in rentals is also creating a dilemma for Indian executives as the rental rates are squeezing them big-time and they are often inclined to buy instead of lease for a long term. This will have a negative impact in corporate sector housing, which is in the range of rental values of more than Rs.50,000 per month.For more view-

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