Tips for a homebuyer

Be it the first property, dream home of one's life or a second property for investment, buying a property is always an important and most watchful event of one's life. Here we give some important check points which one must take into consideration before taking an important decision of your life.


Land

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

Title certificate

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.

NA order of the land

NA order is conversion of land use from agricultural to non-agricultural. Before commencement of construction, this order is a must with any developer or builder.

Approved project plans

All project plans, technical drawings plans must have been approved by the respective government and local authorities.

Construction permission

This is one of the most important documents any builder developer must acquire from government or local authorities before starting the construction.

Environmental clearance certificate

A builder developer must possess environmental clearance certificate.




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THANE: A GREAT METAMORPHOSIS THAT MUMBAI IS WATCHING IN ANTICIPATION

Thane, home to over 12 million residents, today has emerged as a city with its own distinct character and economic drivers, including large businesses that have created demand for quality residential developments. With the emergence of planned developments fast becoming a rarity in the congested metropolitan blueprint, Thane has emerged as a preferred residential location in recent years.

Easy connectivity, infrastructural promise and spatial bandwidth with the emergence of mini-commercial districts; retail hubs; medical, school and entertainment hubs have made this micro-market a planned and quality option for home-seekers.



Thane is divided into 10 sectors in its development plan. Geographically at the center, Sector 5 comprising of Kolshet and Balkum, is now at the forefront of Thane's meteoric rise due to its centrality, enviable access to a great social infrastructure and superb connectivity. Located between east and west Thane, this belt is aptly called `Prime Central Thane' and is synonymous with great malls, large multiplexes, multispecialty hospitals, schools and branded residential neighbourhoods.

Prime Central Thane is also home to acres of greens, thus resulting in superior air quality (lower Air Quality Index). The region has one of the best AQI figures when compared to other parts of Mumbai. An urban oasis in its true sense, Prime Central Thane has become the driving force behind Thane's realty market. Not surprisingly, Thane is rated as the No. 1 investment hotspot by CII-JLL and Prime Central Thane is slated to earn 60 per cent appreciation by 2020, according to Knight Frank Report 2015, riding on the phenomenal infrastructure growth and commercial and employment expansion.

IMPROVING INFRASTRUCTURE CONNECTING THANE TO ALL PARTS OF MUMBAI

Infrastructure facilities have improved in the past few years with the construction of SATIS (Station Area Traffic Improvement Scheme) and multiple new flyovers on Ghodbunder Road. The three flyovers and one upcoming flyover in Thane, will help ease the overall vehicular traffic. Thane is well-connected to the eastern suburbs by the Eastern Express Highway and to the western suburbs. The city also has connectivity to Navi Mumbai by both, trains and roads. Connected via three major highways, including NH3, NH4 and Eastern and Western Express Highways, the city is being equipped with superior infrastructure such as subways, flyovers that will boost the infrastructure of Thane. The metro project (by the MMRDA) that aims to connect Ghatkopar to Ghodbunder Road and then Dahisar, will also improve connectivity between Thane and the western suburbs.

A few salient points:

• Wadala Ghatkopar Metro line to be ex tended to Teen Haath Naka and Kasarwadavali near GB Road.

• Thane-Borivali tunnel, scheduled to com plete by 2019, will revolutionise connectivity and bring down this distance to less than ten minutes.

• Thane-Bhiwandi-Kalyan Corridor.

• Elevated High Capacity Mass Transit Route (HCMTR), thus leading to equi table distribution of road traffic through Thane.

• A large proposed infrastructure development including tourism and water projects in Prime Central Thane.

EXISTING HIGH-CLASS SOCIAL INFRASTRUCTURE

Thane has the presence of six malls, a number of schools and colleges such as St John High School, Smt Sulochanadevi Singhania High School and many others. Lodha World School also has a centre in Thane. Jupiter and Bethany, both private multi-specialty hospitals, address the medical needs of the city.

COMMERCIAL SUPPORTS RESIDENTIAL GROWTH

Many state-of-the-art commercial complexes, especially IT companies, have also set base here. Industrial areas such as Wagle Estate, where some of the biggest national and international BPOsKPOs have moved their operations into newly launched ITITeS parks, are promising as well.

Considering the city's potential, many entrepreneurs are shifting to Thane, choos ing relatively more affordable commercial and residential real estate, which in turn is generating more employment opportunities within the city people in effect, don't need to commute painstakingly, to other places a resounding example of the `walkto-work' culture.

Interestingly, TCS has recently concluded a deal to lease 2 mn sq ft of office space which will bring over 30,000 jobs to Thane.Developers responded quickly to the increasing demand by launching more and more projects in the city. Today, the developer representation in Thane is impressive. The leading real estate developer in the country, understood the great potential of key catchments like Majiwada, Kolshet and Ghodbunder Road early on and now, the Group's towering presence in this region is unchallenged, with its projects consistently outperforming the market in terms of capital appreciation as well as rental yields.

CONCLUSION

With so much going for it, it's no surprise that Thane is considered to be the No.1 investment hotspot by Jones Lang Lasalle (JLL) and Confederati ion of Indian Industry (CII). All the economic indicators too show that the capital appreciation seen by Thane over the last few years, is only the tip of the iceberg, with its current potential being multi-fold. To top it off, it has the highest projected rental appreciation as well.(Source: Jones Lang Lasalle) The long-term future for property in Thane is excellent. While this area remains among the more affordable ones around Mumbai, there will be a steady rise in rates as development catches up with the planning and existing supply is absorbed by buyers.


Check out various projects by Squarefeet Group like Ace Square Residential Project in Kasarwadavali Thane and Imperial Square Residential Project at Ghodbunder Road, Thane.

You may also contact us at - +91-22-25452903, 66543333 or
Email us at - sales@squarefeetgroup.in

How 'affordable' is affordable housing?

n the last decade, there has clearly been a shift on the part of the real estate builders and developers towards the soaring middle class population. Increasing bank loans have aided the situation. To help change the scenario, in the Union Budget 2016, we all know that the government announced a 100 percent deduction for profits to housing projects building homes upto 30 sq mts in the four metros and 60 sq mts in other cities. The sentiments have been upbeat since its announcement a few days ago.

The Finance Minister also said that the construction of affordable houses upto 60 sq mts under any scheme of the central or state government including PPP schemes would be exempted from service tax. First-time buyers will get a deduction of Rs 50,000 per annum, for loans upto Rs 35 lakh sanctioned in 2016-17, where the house cost does not exceed Rs 50 lakh. Over the last few years, though the government has been speaking about various initiatives to build affordable houses, there have not been too many affordable houses. Affordable housing can be defined using three key parameters such as income level; size of the dwelling unit and affordability, according to a recent report by KPMG. In that case, how sustainable is the government's plan?

What seems like a policy to help the low-income group households could definitely bode well in the future, provided it is implemented properly, according to experts. Samantak Das, chief economist at Knight Frank India, says, "This move would help the construction companies and builders, who in turn, could bring down prices to benefit the consumers. There would be more constructions in tier-II cities."

With this policy, a lot of social-rent houses, which are typically houses rented out by local authorities or rich landlords at half the market rent would be replaced more by affordable houses.

"It's a win-win situation for both the parties developers and consumers. The bridge between higher demand and lower supply will soon get built," says Shubhranshu Pani, managing director infrastructure services at Jones Lang La Salle India.

It is clear though that boosting the supply of affordable homes to buy might lead to a messy distributional scene. There could soon be a situation where in the middle-class pools in money to buy, say, two adjacent small apartments, at a lower price. "There has to be a clearer agenda to provide houses to the low-income group at a lower value, which might be grabbed very easily by the middle class," concludes Pranay Vakil, chairman of Praron Consultancy. The government is making a persuasive blueprint for this multipronged strategy for building a more affordable India through greater engagement and intensity. This move is bringing a sigh of relief among a lot of people, for whom living itself is a burden.


Check out various Affordable Housing Projects by Squarefeet Group.

Talk to us today on  022-66543333  or drop email at sales@squarefeetgroup.in

3 Ways to Make a Small Space Look Larger

While Decorating Small Space most important is your Furniture should be correctly scaled for your Space. Most of the time furniture is too big.

If you're living in a Studio Apartment and want to sleep on a sofa every night, there is precisely one model that is good enough to use as a bed. You can Buy Sofa Cum Bed for it. A bench is also an indispensable piece of furniture for a studio. It takes up little space, but it provides extra seating, a makeshift buffet for cocktail parties, and a good general plunking-down space for books, clothes, etc.



Keep your home space Simplifying it can make your whole existence seem simpler and more manageable. The best advice for people looking to pare down is to get rid of everything that's not contributing to your happiness. Think of it this way: A small house is a big house with all the unnecessary parts removed.

Build storage flush with the wall, limit structural details, and minimize clutter. The clean lines will allow your eye to "slip" around the space, making it feel larger. Play with perceived depths. Dropping your ceiling a foot may seem antithetical. You couldn't tell if the ceiling extended one foot or 12 feet above the punch outs; that height ambiguity makes a space feel larger. Make sure there's connectivity between your indoor space and your outdoor space. Even if you have a view of a brick wall, put something near your window that picks up the color and texture of the brick. It will lead your eye out the window and expand your sense of the room.

Rather than fill your precious space with big storage units, look around to see how you can make use of existing nooks and niches.

For more such interesting Home Decor articles, stay connected with Squarefeet Group.

Check out various projects by Squarefeet Group like Ace Square Residential Project in Kasarwadavali Thane and Imperial Square Residential Project at Ghodbunder Road, Thane.


You may also contact us at - +91-22-25452903, 66543333 or
Email us at - sales@squarefeetgroup.in

Ghodbunder Road: A preferred Residential option!

 Looking over the past decade, Thane has grown from a small suburban town on the outskirts of Mumbai to a self-sustaining metropolis.

Thane has now become a city with slouching flyovers, uninterrupted highways and wide roads.

The Thane suburb now has integrated townships and high-rise towers with various other budget properties including residential properties, as its commercial real estate sector has progressed in tandem with new upcoming projects coming in places like Ghodbunder Road.

The Kapurbawdi Flyover has become operational and considerably reduced traffic congestion in this region. The proposed monorail, which will connect Thane to the Western suburbs in its next phase, is the major draw.

With a hike in residential and other property prices seen in all locations in and around Thane between 2010 and 2012, the rates of rental apartments have gone up by 20-25% according to the property consultants here. However, the interesting fact is that there are few takers for apartments within the main city despite its proximity to the railway station, bus stand etc. Instead, many people are moving by taking properties on rent on the outskirts of the Ghodbunder road. Nowadays, people’s perspective of buying budget properties have been changed.  They prefer a complex with good security and recreation facilities for kids by not minding the distance from the main city within their budget which now they easily find in properties of Ghodbunder Road like Ace Square, Joy Square and Imperial Square.

Ghodbunder Road in Thane now has held its own preferred property residential destination for price-sensitive home seekers, due to the relatively lower rates when viewed against core Thane city.


Why to choose Ghodbunder Road?

New inventories

Ghodbunder Road has a lot of fresh inventory, driven by several infrastructure initiatives and good connectivity in the pipeline. The new Inventories that Goverment is working upon is 11-km tunnel to connect northern suburb of Borivali and Thane. The proposed tunnel would cut down travelling time between Thane and Borivali by almost an hour. The proposed tunnel will deviate from Ghodbunder Road to Tikujiniwadi and cover 11km beneath the ground through Sanjay Gandhi National Park and Yeoor Hills.
   
 Metro to be arrived

The development authorities in Ghodbunder Road have planned a monorail network which will not only serve as a feeder system to a Metro project planned but also hike up the property value in Thane. The MMRDA has finalized a Metro corridor, extending from Wadala to Kasarvadavali on Ghodbunder Road which also makes it as a preferred residential property spot.

Quick Accessibility
The Ghodbunder road provides quick accessibility to Mira Road from Thane, and to other micro-markets such as Mulund, Bhandup and Ghatkopar. Ghodbunder Road is approximately 20 km long and links the two main arterial roads of Mumbai, the Eastern Express Highway, starts at Sion and terminates at Thane, while the Western Express Highway, starts at Bandra (East), becomes the National Highway leading to Gujarat.

Futuristic Nature

Due to the rapid development especially in real estate sector, the area has attracted many reputed developers, leading to a surge in launch of many affordable and premium housing projects which is directly the reason of the emerging upcoming projects of Ghodbunder Road. The area is interesting to developers primarily due to the easy availability of large land parcels. From the budget property flats to premium properties, the area offers a wide assortment of housing options.

Access to Facilities

Affordable apartments in this area is possible because the residential properties here offer several amenities. Most of the families basically look for roads, parking space, gardens for children, security, and pipe-gas connection among others. Another reason is that the space crunch this side is lesser compared to the main city area. Also, the tenants look for proximity to markets, schools, malls, hospitals.

Reasonable Apartments

Newly launched multi-storey apartments vary between Rs 40 lakh to Rs 2.5 crores. Some of the reputed property developers in Ghodbunder Road present on this stretch are Squarefeet Group, Runwal Group, Puraniks Builder, Harmony Lifestyles Group, Vijay Group, Rosa Group and DS Group. The average property prices of this region range between Rs 8,000 and Rs 10,000 per sq ft, and annual appreciation has been to the tune of 7-10 per cent, depending on the specifications of the project and amenities offered.

Commercial Development

 There’s a lot of commercial development seen in Ghodbunder Road of Thane. Apart from the coming MGM IT Park, in real estate sector, new corporate offices with residential properties and other commercial establishments such as retail outlets, malls, showrooms and banks are mushrooming all over. The Kapurbawdi Flyover has become operational and considerably reduced traffic congestion in this region. The proposed monorail, which will connect Thane to the Western suburbs in its next phase, is the major draw.

Hidden attractions near Ghodbunder Road

Squarefeet Group also lists down some of the Hidden attractions of Ghodbunder Road of Thane.

- Bastion on the Fort
- Versova Bridge
- Old and New ruins on the Fort
- Church at Gai Mukh named as ‘OUR LADY OF HOPE’
- Suraj Water Park

We here at Squarefeet Group has also found different property types with their current status at Ghodbunder Road of Thane.

We here at Squarefeet Group has also found different property types with their current status at Ghodbunder Road of Thane.
 

Talk to us today on  022-66543333  or drop email at sales@squarefeetgroup.in



Check out Properties in Thane and Beyond by Squarefeet Group

You may also contact us at - +91-22-25452903, 66543333 or
Email us at - sales@squarefeetgroup.in

Push for Affordable Housing in Budget 2016

The Union Budget for 2016-17 was much awaited with plenty of expectations. The Budget has a significant rural focus. There are some welcome measures initiated towards pushing the realty sector.

Push for budget homes

In line with the mission 'Housing for all by 2022', the Budget has provided for a 100 percent deduction against profits from a housing project with units of up to 30 sq mts (300 sqft) in the four metro cities and 60 sq mts (600 sqft) in other cities, that are approved between June 2016 and March 2019, and completed within three years of the approval. This will give a major push to the affordable housing segment.

Higher interest deduction

Property in ThaneThere is some good news for first-time homebuyers. The Budget has proposed an additional Rs 50,000 in deduction against interest paid on a loan for first-time homebuyers. This tax deduction is for a loan of up to Rs 35 lakhs sanctioned during the next financial year, provided the value of the house does not exceed Rs 50 lakhs.

This measure is expected to encourage more prospective buyers to invest in property. As it will reduce the cost of a loan effectively; it is expected to boost demand for housing in the budget and mid-segment categories.

This additional deduction of Rs 50,000 will significantly benefit first-time homebuyers in Tier II and Tier III cities too.

Duty exemption

The Budget also extended an excise duty exemption, currently available to concrete mix manufactured on site, to ready-mix concrete too. This is expected to lower the cost of construction for developers.

A service tax exemption has been announced on construction of affordable housing under State and Central housing schemes. Builders will get 100 percent tax exemption on profits if they build units of up to 300 sqft in the four metro cities and up to 600 sqft in the other cities. This will give some much-needed impetus to develop a greater number of affordable housing projects across the country.

The tax sops for first time homebuyers and incentives on development of affordable housing projects will push demand in the property market.



Check out various Affordable Housing Projects by Squarefeet Group.

You may also contact us at - +91-22-25452903, 66543333 or
Email us at - sales@squarefeetgroup.in