Buyers opt for homes in posh areas

The year 2015 has been a good year for homebuyers and bad for investors as property rates have remained static or even negative in some parts of Thane and Mumbai.

Sale deed of ownership of land or agreement to sale with the land owner or partnership deed or JV deed with the land owner.

This certificate is issued by a competent advocate lawyer practising in land laws and property matters. This certificate is issued only after thoroughly checking the track record of land since the land law was formed in 1947. The title report shows when and how many times that particular land survey number was transacted and how the ownership of land was changed.

But posh areas such as Vasant Vihar, Hiranandani Meadows and Waghbil are what the home buyers are preferring as witnessed by three to four per cent price hike in these areas.

According to the data provided by 99acres.com, while property rates have increased by just 1% in some areas of Thane and Mumbai, most of the regions have witnessed 3-4% price rise in the last quarter of 2015. And the most prominent price hike is in Vasant Vihar, Patlipada, Hiranandani Meadows, Kapurbawdi, to name a few.

“While areas like Majiwada have seen just 1% growth in property prices due to heavy inventory, transactions are high in Hiranandani Meadows and above mentioned areas,” said Jitendra Chauhan, vice-president, sales, 99acres.com.

“This is because the real home buyers are coming forward to buy homes in these areas which have ready-to-occupy flats,” he adds.

According to a real estate consultant the reason for movement in the above areas is because of real home buyers. “People want to stay at a good place and it is these people who are drawing the demand in the areas. And only resale is happening,” he said.

Thus, the above areas have seen price hike of Rs500 per sq feet and above.
 

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Source - dnaindia.com