By Staff Reporter
You name any big reputed brands in India, they are here for real estate project development. Either in joint venture or out right, redevelopment or fresh constructions in Mumbai and its suburbs especially Thane city. Huge construction is in offing in Mumbai along with as high as 20 cr sq ft in various stages of construction in redevelopment. Northy suburbs of Mumbai right from Goregaon, Malad, Kandivali and Borivali, almost every one society in five societies are vacated for redevelopmet. Builders have given advance rent of 18 months to the members of rehab component and the rental for residential premises for 2 bhk have gone up to 70,000/- per month.
Big names like Prestige Sobha Developers., Prestige Group,Brigade Enterprises, Purvankara Ltd, Kolte Patil Developers, DLF, Adani, Ganesh Housing, Indiabulls, Gera, L&T and others. The leading brands in Mumbai are also very very bullish as they have started acquiring lands and FSI particularly in Thane, Dombivali, Palghar and Pune.
Thane, one of the biggest real estate market in India is witnessing huge development in real estate. One of the fastest micro market in India which is witnessing enhancement of property rate by 8% YoY. A rough estimate is that Thane shall have nearly 3 lakh more flast of various size in next three years.
Land price have seen sky rocket in Thane, Dombivali, Badlapur, Titwala, Panvel and Karjat. The land being the scare commodity, even financial institutions and Non Banking Financial Institutions and Venture capitalist are bullish and investing in SVPs and through via media.
It is expected to have a great bull run for the FSI and TDR in the region including in Mumbai which is running on huge inventory to be added in next five years where the rentals are likely drop drastically by alsmost 35-45% base on 2023 year rent base. After Metro connectivity, it is expected that property rates shall stagnate and most likely to decline after 2027.
