Ghatkopar East Property Rates

Ghatkopar East, a bustling suburb in Mumbai, offers a prime location and a plethora of residential and commercial options. However, before diving into the property market, it’s crucial to understand Ghatkopar East property rates. In this comprehensive guide, we will provide an overview of the location and address frequently asked questions related to property rates in Ghatkopar East.

Ghatkopar East Property Rates 

Avg. Rate / sq.ft.

INR 12,375 – 44,176

Rental Yield

Approx. 4 – 7%

Growth in Last One Year

+6.4%


Ghatkopar Location Overview 

Connectivity

Ghatkopar enjoys seamless connectivity to other parts of Mumbai. The suburb is well-connected through major roadways, including the Eastern Express Highway and Jogeshwari-Vikhroli Link Road (JVLR). Furthermore, the Ghatkopar Metro Station is a significant transportation hub connecting the area to various parts of the city via the Versova-Ghatkopar Metro Line.

Social Infrastructure

Over the years, Ghatkopar East has witnessed substantial infrastructure development, making it an ideal destination for property buyers. The suburb boasts numerous renowned schools, colleges, hospitals, shopping centres, and entertainment hubs, along with places of worship. This combined with the presence of commercial establishments makes Ghatkopar East an attractive proposition for residential and commercial investments.

Lifestyle and Amenities 

Ghatkopar East offers a vibrant and cosmopolitan lifestyle, with a plethora of dining, entertainment, and shopping options. The presence of multiplexes, restaurants, and retail outlets caters to the diverse needs of residents, making it a self-sufficient locality. The famous R City Mall, with its beautifully landscaped gardens, provides an environment for recreation and relaxation.

Residential Options 

Ghatkopar East offers a diverse range of residential properties to suit the needs and preferences of different buyers. From luxurious apartments to affordable housing schemes, the real estate market here caters to a wide range of budgets. The area is known for its well-designed, modern apartments equipped with state-of-the-art amenities, making it an ideal choice for families and working professionals.

Best Property in Ghatkopar East

Ashar Titan is an exceptional residential project that offers Vastu compliant 2 BHK, 3 BHK, 4 BHK and 5 BHK homes in a 16-storey boutique tower. Situated in the prime location of Ghatkopar East. it provides easy access to shopping malls, healthcare facilities, educational institutions, and temples, all within a 2-kilometer radius. The property boasts an impeccably designed podium level amenity zone called 1 Above, which includes a kids play area, indoor games area, fully equipped gym, and a range of other amenities for the residents’ happiness. Additionally, residents can enjoy a rooftop amenity zone called Beyond 15, featuring a yoga and meditation deck, reflexology path, party deck, box cricket, and more. Furthermore, Ashar Titan also offers retail spaces ranging from 804 to 1128 sq.ft. carpet area starting 11 Cr onwards. It truly offers a delightful experience with a variety of lifestyle brands to the customers. 

Investing in real estate is a big decision, and understanding property rates is crucial for making an informed choice. With its strategic location, well-developed infrastructure, and a range of residential and commercial options, Ghatkopar East presents a promising investment opportunity. By considering the factors discussed in this guide and conducting comprehensive market research, you can navigate the Ghatkopar East property market with confidence. Remember to consult with reputable real estate professionals for personalized advice tailored to your specific requirements and remember only to transact with brands that have a positive reputation.

Frequently Asked Question

What is the average property rate in Ghatkopar East?

Ghatkopar East’s property rates vary depending on various factors such as location, property type, amenities, and age of the building. As of February 2024, the average property rates in Ghatkopar East range between 12,375 – 44,176 per square feet (Source: Housing).

What is the average rental return in Ghatkopar East, Mumbai?

The average rental yield in Ghatkopar is about 4-7% (Source: which is quite competitive compared to the average residential rental yields.

How have the property rates in Ghatkopar East, Mumbai changed over the years?

The area has witnessed rapid urban development and infrastructure improvements, the demand for properties has surged, leading to a rise in prices of about 4-6% (Source: Housing & 99acres) in the past 01 year.

Is Ghatkopar East a good investment option? 

Ghatkopar East has proven to be a lucrative investment option. With its strategic location, excellent connectivity, and robust infrastructure, the suburb continues to witness appreciation in property rates over the years. Moreover, the continuous development and upcoming projects make it a promising choice for investors.

Are there any upcoming infrastructure projects in Ghatkopar East? 

Yes, the area is witnessing several upcoming infrastructure projects that will further enhance its connectivity and overall development. The Metro Line extension is set to provide seamless connectivity to various parts of Mumbai, making it an ideal time to invest in Ghatkopar East

Mumbai Real Estate Trends

Mumbai, known as the financial capital of India, has always been a city with a booming real estate market. Over the years, the city has witnessed several trends and changes in its real estate sector, and it is expected that in 2024, there will be more significant shifts in the Mumbai real estate market.

With the city’s booming economy and rise in disposable income among the affluent population, there is a growing demand for high-end properties. Developers and investors are capitalizing on this demand by creating exclusive, state-of-the-art and customised luxury apartments that cater to the needs and preferences of the luxury home buyers. The city offers a vibrant lifestyle, excellent amenities, and a prestigious address, making it highly desirable for luxury real estate investments. Furthermore, the infrastructure development in Mumbai will continue to have an impact on the real estate market. The city has been focusing on improving its infrastructure, including transportation, road networks, and connectivity. The completion of major infrastructure projects, such as the Mumbai Metro and Coastal Road, will enhance accessibility and connectivity across different parts of the city. This will lead to the emergence of new real estate hotspots and increase property values in these areas.

The concept of co-living and co-working spaces is also expected to become more popular in Mumbai by 2024. With the increasing number of millennials and young professionals in the city, there is a growing demand for flexible living and working spaces. Co-living spaces offer shared accommodations with amenities and services, while co-working spaces provide a collaborative and productive environment for professionals. These trends are expected to gain traction in the coming years, as they offer a cost-effective and convenient solution for individuals.

Another change that can be anticipated is the increase in the availability of affordable housing options. The government’s efforts and policies directed towards promoting affordable housing are expected to make a significant impact on the market. Developers are embracing the opportunity to cater to the needs of the middle-class population by prioritizing the provision of affordable housing options.

Also, in recent years, there has been increased awareness and demand for environmentally conscious living spaces. This trend is expected to continue, with developers incorporating green features and technologies into their projects. From energy-efficient buildings to green spaces and amenities, sustainable living is set to become a key consideration for both home buyers and developers.

As the city continues to grow and evolve, new opportunities and challenges will arise for both buyers and sellers. In the anticipated 2024 real estate market, there will be a marginal increase in home prices, but not enough to significantly affect home buying. Both market dynamics and industry initiatives will shape the trajectory of home prices in 2024, with optimism prevailing for potential rate cuts. As investors and stakeholders adapt to these trends and changes, they can benefit from the dynamic nature of the market and make informed decisions that align with their goals. Overall, the future of the real estate market in Mumbai holds immense potential and promises exciting opportunities for those involved in the industry.

Mumbai’s Real Estate Investment Opportunities for NRIs

Mumbai, the financial capital of India, stands as a beacon for Non-Resident Indians (NRIs) seeking robust real estate investment opportunities. Here’s a concise guide to why Mumbai’s real estate market is a lucrative avenue for NRIs:

  • Life In Luxury:
    Mumbai’s luxury real estate segment offers top-notch amenities with state-of-the-art features integrated into the living spaces. Spots like Bandra are a prime investment for NRIs due to its old-world charm, peerless heritage as well as proximity to the city’s lifestyle and business
    centres.
  • Transparent Environment:
    Mumbai’s infrastructure development and the implementation of the Real Estate (Regulation and Development) Act (RERA) has significantly increased market transparency. NRIs can navigate the real estate landscape with confidence, knowing that regulatory measures are in place to protect their interests.
  • Appealing Rental Market:
    The city’s large and diverse population, coupled with a robust workforce, creates an unceasing demand for rental accommodation. NRIs can capitalise on this by investing in rental properties and tapping into a reliable income stream.
  • Market Dynamics:
    Mumbai boasts a thriving real estate market characterised by consistent appreciation in property values. Limited land availability in this bustling metropolis contributes to a perpetual demand for quality housing, ensuring a secure investment environment.
  • Strategic Locations:
    Premium and emerging locations like Thane and Ghatkopar present attractive investment potential. These areas showcase promising growth trends, making them strategic choices for NRIs looking to capitalise on Mumbai’s real estate upswing.
  • NRI Property Acquisition:
    NRIs are permitted to purchase both residential and commercial properties in India, with exceptions for agricultural land, plantation property, and farmhouses. Funding options include utilising funds from abroad or availing NRI home loans offered by Indian banks, facilitating smooth property acquisitions.

In conclusion, Mumbai’s real estate market aligns seamlessly with the investment goals of NRIs. The city’s dynamic property landscape, coupled with regulatory advancements and strategic locations, positions Mumbai as a compelling destination for NRIs seeking long-term returns on their real estate investments.

Why October-November is the Best Time to Invest in Real Estate in India

As the change in season paints the Indian landscape with hues of gold, it’s not just the weather that is fluctuating —there is a gentle shift in the real estate atmosphere too. If you are contemplating entering the real estate market, there’s no better time than October-November. Let’s unravel the reasons behind the investment opportunities this season offers.

  1. Festive Spirit Boosts Market:

During the festive fervor of October-November, marked by celebrations like Diwali and Dussehra, the real estate atmosphere undergoes a subtle transformation. The buoyant festive spirit creates a suitable time for attractive offers and discounts such as flexible payment plans, EMI benefits, banks subvention schemes and more. Ashar Group’s Season of Smiles campaign offered a myriad of offers on its Ashar Pulse, Axis and Arize projects. Smart investors can leverage these incentives for significant savings.

  1. Time for New Beginnings:

In Indian culture, festivals are symbolic of new beginnings. Many families consider investing in a new home during this time, making it an auspicious period for both buyers and sellers. Such sentiment often leads to quicker and smoother transactions.

  1. Tax Benefits and Fiscal Planning:

Investing towards the end of the year allows individuals to plan their finances efficiently. It provides an opportunity to align the investment with annual tax-saving goals, potentially offering tax benefits under various sections of the Income Tax Act

  1. Real Estate Market Stability:

Historical data indicates that the real estate market tends to be stable during October-November. With most of the market uncertainties settled after the monsoon season, investors find a more secure environment to make decisions.

As the festive lights illuminate the streets and joy fills the air, the real estate market in India experiences a similar sense of excitement and opportunity. October-November presents a unique window for investors, where the confluence of festive spirit, favorable weather, and market stability create a perfect combination of real estate opportunities. 

So, if you are considering real estate investment, don’t miss this golden chance.

Bandra: A Hub for Luxury Properties

The rise of Bandra

If there’s one place in the bustling city of Mumbai that’s stealing the limelight in the world of real estate on a truly global scale, it’s undeniably Bandra West, specifically the prestigious Pali Hill area. With its mesmerising blend of upscale residences, Indian Cinematic glamour and a dash of old-world charm, Pali Hill has emerged as the epicentre of real estate.

Location, Location, Location comes at a price

The demand for real estate in Bandra has its price. But for those willing to invest in the prime location, the rewards are grand. Over the years, properties in Bandra have seen impressive appreciation, 6.7 % in the last 1 year, making them not just exclusive homes but also sound investments. Over the past decade, property prices in Bandra have appreciated in view of the limited supply of large, spacious homes making it one of the most sought-after locales in the city. From opulent villas and luxurious penthouses to chic apartments, the real estate offerings here are as diverse as the characters of a cinematic potboiler!.

The queen of the suburbs for a reason

But it’s not all about the glitz and glamour. Bandra has managed to retain its old-world charm, with quaint streets lined with cafes, art galleries, and boutique stores. This blend of modern luxury and cultural heritage is rare to find, adding a unique allure to the area.

With the Bandra-Worli Sea Link, upcoming Colaba-Bandra-SEEPZ metro and the ambitious coastal road project, Bandra has truly taken its place as the crowned queen of the Mumbai suburbs.

Ashar’s Iconic Projects

In the heart of Pali Hill, Bandra West, stands the majestic Navroze by Ashar, an architectural masterpiece. Despite the challenging market conditions of recent years, the sale of a sea-view mansion at Navroze for Rs 66 crores stood out as one of the most significant deals in Mumbai. This underscores Mumbai’s insatiable appetite for luxury living.

Fast forward to 2023, Pali Hill witnesses the transformation of Late Dilip Sahab’s bungalow into ‘The Legend.’ by Ashar Group. This sprawling half-acre estate is poised to ascend into an 11-storey haven of opulence.

5 Essential Tips for First Time Home Buyers in India

Purchasing your first home is an exciting journey, but it can also be a complex process. Whether you’re buying a home for personal use or as an investment, here are 5 invaluable pointers to steer you in the right direction.

  1. Budget planning:

    One of the foremost considerations when contemplating a property purchase are your finances. Determine the extent to which your budget can be maximised. If you’re eager to purchase your dream home but have a few financial constraints, consult your bank or your CA for viable loan options.

  2. Current market prices in your preferred location:

    Acquiring knowledge about the current market rates is pivotal for effective budget planning. Relying on intuition alone won’t suffice; facts and figures should guide your decisions. Understanding prevailing rates not only aids in budget formation but also unveils enticing offers that might be available.

  3. Choose reputed real estate developers

    When purchasing a new home, your hard-earned money deserves the reliability and assurance that comes with selecting a trusted builder. Opting for the right real estate developer, with a proven track record and impeccable credentials, ensures quality construction and timely project delivery.

  4. Amenities

    Your choice of location significantly impacts your safety, happiness, and financial prospects. Thane has recently emerged as a self-sufficient locality, offering residents an exceptional quality of life. With substantial development initiatives underway, Thane along with Mulund and Ghatkopar have become hotspots for real estate investments. Consider the lifestyle you aspire to lead, and evaluate the property’s amenities accordingly.

  5. Approvals & Verifications

    Before sealing the deal on any property, a meticulous review of paperwork is paramount. Ensuring the absence of legal entanglements is essential. Verify the property’s registration under RERA (Real Estate Regulatory Authority) and authenticate its registration number through the official website.

  6. The Bottom Line:

    The journey of purchasing your first flat is a remarkable experience. To enhance this journey, include your family in the experience and adhere to this checklist of essential considerations before embarking on your property acquisition.

The Future of Smart Homes: Innovations & Integration in Real Estate

Imagine a home that not only responds to your every command but also capable of anticipating your needs, creating a seamless and personalized living experience. Smart home technology is revolutionizing the way we interact with our living spaces. From controlling your lights and appliances with a simple voice command to ensuring enhanced security and energy efficiency, the benefits it offers are known to increase security & comfort for homeowners/renters. Smart homes today, have an entire ecosystem of connected devices. Here are few notable features:
  • Voice assistants devices like Amazon Echo or Google Home help people control their smart home devices by speaking to them.
  • Home security systems for smart homes have cameras, motion sensors, door/window sensors, and smart locks to keep homes safe. These systems can be monitored and controlled remotely through phone apps.
  • Smart thermostats help homeowners save energy and money by allowing them to control their home’s temperature from anywhere. They can learn your preferences and adjust settings automatically.
  • Smart lighting systems let users control their lights using their phones. They can change the brightness, color, and schedule lighting for different times. Some systems can even adjust based on natural light and occupancy to save energy.
  • Smart appliances like refrigerators, washing machines, and ovens can be connected to a smart home network. This allows remote monitoring and control, notifications, scheduling tasks, and optimizing energy usage.
In the future, smart home technology will become even more integrated into homes. Real Estate developers have always been providing core infrastructure in homes so that a resident can choose to deploy a smart home system. Artificial intelligence will play a bigger role, with smart home systems learning from your habits and making suggestions. As technology advances, smart homes will become common and will offer even more convenience, efficiency, security, and personalization. They will transform the way we live and interact with our spaces.

How Technology is Propelling the Construction Industry

Technology has played a pivotal role in ushering in a new era of progress, efficiency, and innovation. From conceptualization to completion, technology has transformed every stage of the construction process, revolutionizing the way projects are designed, planned, executed, and managed.

One of the significant advancements is the Building Information Modeling (BIM). BIM creates detailed 3D models that integrate information on architecture, structure, and services. This digital representation enables architects and other construction professionals to collaborate seamlessly, detect clashes or conflicts early, and optimize designs. BIM facilitates better coordination, reduces errors, minimizes rework, and improves overall project efficiency.

In addition, the use of drones in the construction industry has skyrocketed. These unmanned aerial vehicles provide a bird’s-eye view of construction sites, allowing for accurate surveying, mapping, and monitoring. Drones capture high-resolution images, collect data, and generate comprehensive visual reports. This technology enhances safety by minimizing the need for workers to access hazardous areas, facilitates real-time progress tracking, and aids in identifying potential issues before they escalate.

Ms. Seema A Jobanputra, Director of the Ashar Group, recently wrote a published article and threw light on a few key future developments. New construction technologies have emerged and significantly impacted construction businesses in India. 57% of all proptech startups deal with construction and technology (contech). Technology has helped save around 25% of time and avoid rework up to 80%.

Robotic technologies and automation have also made significant contributions to the construction industry. Robots can perform repetitive or physically demanding tasks with precision and efficiency. For example, bricklaying robots can lay bricks faster and more accurately than humans.

Moreover, augmented reality (AR) and virtual reality (VR) technologies have transformed the way construction projects are visualized and experienced. AR and VR allow stakeholders to immerse themselves virtually. These technologies enhance communication, facilitate better decision-making, and improve client engagement.

Technology is changing the Indian real estate market in several ways:

  • Application Programming Interfaces (APIs): APIs are sets of rules and protocols that allow softwares to interact and exchange information seamlessly.
  • Internet of Things (IoT): The Internet of Things (IoT) refers to the network of physical objects embedded with sensors, software, and connectivity capabilities that allow them to collect and exchange data online.
  • Construction Management Software: It is a project management software that caters specifically to the construction industry. It enables the automation of several construction related processes and tasks.
  • Building Information Modeling (BIM): Building Information Modeling (BIM) is a digital collaborative process that consists of creating and managing information of a construction project throughout its lifecycle.

To conclude, technology has transformed the construction industry by introducing game-changing tools and techniques. From BIM to cloud computing, technological advancement has contributed to increased efficiency, improved safety, reduced costs, and enhanced project outcomes.

To read more such insightful articles, keep following the blog section on the Ashar website.

Top Emerging Real Estate Markets in India

Real Estate Scenario in Nashik

The Indian real estate market has witnessed a surge in growth recently, driven by factors like urbanization and robust economic expansion. While cities like Mumbai continue to be hotspots, several emerging markets are now taking center stage. In this blog, we will explore the top emerging real estate markets in India and discuss key factors driving their growth, as well as provide investing tips.

Overview of the current real estate market in India

India’s real estate sector is transforming due to favorable government policies, increased foreign investment, and the rise of affordable housing. The implementation of the RERA – Real Estate Regulation and Development Act, 2016 has brought transparency and accountability to the sector, boosting investor confidence. Additionally, the growing middle class, rising disposable incomes, and urbanization have also fueled demand.

Key factors driving growth in emerging markets

  1. Infrastructural development – Cities with improved connectivity, transportation networks, and planned smart cities
  2. Economic growth and industrial development- Emerging markets with thriving industries, such as information technology, manufacturing, and services, witness increased employment opportunities, and demand for housing and commercial spaces.
  3. Affordable housing – The government has made homeownership accessible to a broader segment of the population.

At the 5th CII Real Estate Confluence, Mr. Ajay Ashar- CMD, Ashar Group and Vice Chairman MITRA – enlightened the audience with pertinent facts and statistics affecting the infrastructural and real estate scenario of Maharashtra. India’s GDP has been healthily growing at 5 to 6 per cent over the past 30 years. The Indian government has also been focusing on 8 key verticals: healthcare, housing, infrastructural development, agriculture, waste management, sustainability, technology and industrial growth. Currently, development of road networks is underway. For Maharashtra, approximately 3,58,000 crore rupees has been allocated for around 3,000 kilometers of expressways that are planned to be built.

Regions experiencing significant development

Thane: Thane is known for its ample green space and natural elements like its beautiful lakes. The vicinity to Mumbai is advantageous, and it is equipped with top-class hospitals and educational institutions.

Navi Mumbai: Widespread transport networks have been built which are convenient and increase connectivity. It offers relatively reasonable property rates as opposed to the main Mumbai city, and has a high standard of living too.

Pune: Pune has emerged as a top real estate market due to its strong IT and manufacturing sectors, young workforce, affordable housing options, and favorable investment climate.

Chennai: Its booming IT and automobile industries, strategic location, and planned infrastructure projects make it an attractive market.

Hyderabad: The city’s infrastructure development, proactive government policies, and affordable property prices make it worth considering.

Tips for investors

  1. Research: Gain a deep understanding of market dynamics, growth potential, and upcoming developments.
  2. Location selection: Choose areas with good connectivity, proximity to commercial hubs, educational institutions, and essential amenities.
  3. Developer reputation: Invest with reputed developers known for timely delivery and quality construction to minimize risks.
  4. Rental income potential: Consider markets with high demand for rental properties to generate regular income.
  5. Long-term perspective: Have a clear investment strategy and patience to reap benefits.

Conclusion

India’s emerging real estate markets present numerous opportunities for investors and homebuyers. By conducting thorough research, selecting the right location, and having a long-term perspective, investors can capitalize on the potential and reap rewards. Make sure to carefully and calmly consider everything important to you, and you will have made the right choice.

Tips to buy a new House.

Tips to buy a new House.

If you have just started your work/job and want to save money, it’s more than likely you may buy a house soon. Of course, paying rent each month is not preferable, but giving an EMI for your new flat is a better option. Living at your own house brings unparalleled happiness.

Although there are so many alternatives for real estate, you should be careful in your home selection. There are always tips that can help you make a more intelligent decision, whether you’re buying a 1 BHK in Thane or 1 BHK in Kalwa, or a larger home or apartment. This article will provide you with some concise, high-quality advice for your first home purchase.

Know our needs – 

Make sure you are aware of your demands before choosing a flat or flat for yourself. You ought to be aware of all the regulations. You can be sure that you select a house in this manner that meets your needs. What’s the point if you subsequently regret making a hurried decision that you now regret? So, be sure to select a home that meets your needs. You could ponder things like:

  • How many rooms should the flat have?
  • Are the stand-alone or gated apartments acceptable to you?
  • What’s your spending plan? If the price is too high for you, can you afford it?

Whenever you inquire about such things, you would take a better decision for yourself.

Safety of the property –

Regarding the safety issue, you ought to take caution. You cannot take safety for granted because crimes are always being committed. Search for the building that has proper guards, watchmen and CCTV cameras. This will allow you to confirm that the flat you are buying is secure and not at all close to a crime hotspot. Afterall, there is no point in choosing to live with your family in a bad or unsafe neighborhood. Hence, be cautious when it comes to safety. You would choose wisely and safely if you compare different houses with different localities.

Facilities and Environment – 

The facility that come with the apartment should also be looked into. How is the society you are moving into doing? Is it tidy and roomy? What about the building’s amenities? Is there a balcony and sufficient windows in the apartment? You must keep a check on these matters, or you risk getting stuck later. As you’ll be living in the new flat for at least a few years, you should investigate the building’s and flat’s surroundings. As a result, inspect and spend a day in the flat or building you are considering buying. Check to see if you can live there happily and safely.

Conclusion –

Make sure to keep all these suggestions in mind whether you’re looking for a 1 BHK flat in Kalwa, or 1 BHK flat in Thane. When you carefully select your property, there is nothing to regret in the future.

Top three localities to buy real estate in MMR

Blog - Top three localities to buy real estate in MMR - Ashar Group

Real Estate Scenario in Nashik

Referred to as the City of dreams and the nation’s financial centre, MMR is home to some of the costliest real estate properties in India. Real estate properties in Mumbai have been increasing for a while, and since 2022 things have only gotten better. Most homes in this region are ideal real estate investments and their value is only expected to rise. Below are the top three places to invest in Mumbai!

THANE
Home-buyers have been increasingly looking for affordable homes and have been moving to multiple developing areas of Thane. Along with Mumbai, Thane is connected to several other cities, including Kalyan, Bhiwandi, Vasai-Virar, and Mira Road. It has one of India’s best transportation systems, including roadways, railway and metro lines. Thane has two upscale neighbourhoods: Ghodbunder Road, Majiwada, and Pokhran road 1 & 2. These areas are hubs to several corporate offices, shopping & entertainment centres, and other services, attracting job seekers, and multinational corporations.

Although Thane’s real estate costs are considerable, they are not as costly as those in Mumbai.

We all know that Thane has gained prominence as a result of its role as a transportation hub for the nearby suburbs’ Central and Trans-Harbour railroads. Infrastructure in Thane has seen an increase in the past 10 years. Residential development has increased as a result of the growing commercial demand. The construction of Metro 4 (Wadala-Thane-Kasarvadavali) and Metro 10 (Gaimukh-Shivaji Chowk) by MMRDA will increase the demand for real estate in Thane and raise the price per square foot. Due to its excellent accessibility, 1 BHK Flats in Thane has long been a favoured choice among buyers and major builders. Buy your next 1BHK from Ashar, one of the best builders in Thane.

BANDRA

Bandra West is known as the “Queen of the Suburbs,” and is one of Mumbai’s best neighbourhoods and sought-after locations for investing in residential real estate. There is a fair balance of contemporary homes and old-world elegance. Bandra is the place to be, with stunning residences from the Portuguese era, antique cottages, and multi-story luxury apartments in Bandra giving the best amenities.

 Few years ago, Bandra experienced a spike in real estate prices. Old, outmoded buildings have been converted by developers into brand-new, opulent multi-storey residences with a variety of contemporary conveniences. The address of Bandra is itself quite a blessing. 

The start of the western suburbs is Bandra and is well connected to the rest of the city. With the Bandra-Worli Sea Link connecting South Mumbai to the northern and eastern parts of the city, and the Western Express Highway (WEH) connecting Bandra to Santa Cruz-Chembur Link Road (SCLR), it has eased connectivity. Metro Line 3, The Bullet Train, and the Coastal Road are examples of upcoming infrastructure.

The advantage of Bandra’s location is that it is close to commercial centres like BKC and Santa Cruz, as well as having additional access to Thane and Navi Mumbai through local trains and WEH. While having the most expensive real estate In Mumbai, the location is perfect from an investment standpoint when it comes to purchasing real estate. 

GHATKOPAR

Over time, Ghatkopar has become one of Mumbai’s most in-demand neighbourhoods. The cause of this is linked to a wave of infrastructure improvements that have caused a sharp increase in the demand for housing in the area. The Mumbai Metro has also eased commute in the area. 

The area is close to the Eastern Express Highway and has good access to roads and railways. While the distance to the airport is only seven kilometres, it is 20 kilometres to the Chhatrapati Shivaji Railway Terminus. Ghatkopar West is close to the urbanised neighbourhoods of Santacruz, Khar, and Juhu and has easy access to Thane. Various public transport facilities have eased access to these locations. Along with these advantages, the neighbourhood also has convenient access to other areas of Mumbai via Lal Bahadur Shastri Road (LBS), Tilak Road, and Mahatma Gandhi Road. The Sion-Panvel Highway connects Navi Mumbai and Ghatkopar West. In addition, the neighbourhood has a metro connection to Andheri in Mumbai. The metro station next to the route makes accessing the Western Expressway Highway easier.

The social and governmental infrastructure in Ghatkopar is excellent. In the area, there are numerous reputable schools, institutions, and medical facilities. The site is undoubtedly one of the best options for real estate investments with a strong rental yield. The forthcoming Colaba-Bandra-SEEPZ metro would enhance Ghatkopar’s infrastructure even further and will also enhance the value of each upcoming porperty in Ghatkopar. Improving the area’s connectivity to Churchgate will raise property values along the nearby corridors. Along with having solid infrastructure and connections, the area has seen a consistent YoY increase in property values. Ghatkopar may be the best option to invest in a region that gives real estate a strong rate of capital growth.

With the recovery of the Indian economy post the pandemic, real estate has been skyrocketing. However there is no doubt that MMR remains the dream for many home-buyers and investors. From premium bungalows to affordable apartments, the city has a lot to offer. Now is the right time to invest in these profitable realty areas for the long-term.

Your dream home is just a Home-Loan away!

A roof over one’s head is a human being’s necessity. Getting a spacious, safe, equipped and accessible home is a dream. The best way to fulfill this dream, for many, is through a home loan. However, to be eligible for a home loan, one must meet certain requirements.

The eligibility criteria for a home loan is as follows:

  • Age:
    A person availing home loan should be within the age limit from 18-70 years. However, some banks and; institutions offer home loans to salaried, self-employed professionals and businessmen above the age of 23 only.
  • Net-worth:
    You can qualify for a home loan if your monthly income is more than Rs. 25,000. Those within the income bracket of Rs. 25,000-Rs. 40,000 can avail a home loan if their fixed obligation (Rent, EMI) does not exceed 50% of their income. Those with a monthly salary of over Rs. 40,000 can avail a home loan if their fixed obligation does not exceed 65% of their income.
  • CIBIL score
    A good CIBIL score of 650 is required. If you have a CIBIL score lower than 650, you still stand a chance to avail of a home loan by paying a higher interest rate, at a higher margin.
  • Company and Employment history
    You should have a stable income history and/or job continuity of a minimum of 3-5 years. The sector in which you work should not have been blacklisted by the bank. Additionally, some professions such as lawyers, beauticians, police personnel, builders, etc. may be considered negative by some banks.
  • Co-applicants
    Having a co-applicant increase your chances to avail of a home loan, it might
    also fetch you a higher loan amount. The co-applicant should have a share in the property. The list of co-applicants allowed is spouses, parents, siblings, and children.
  • Loan-to-value (LTV) Ratio
    Lenders calculate the LTV ratio using the below formula:
    LTV Ratio (%) is equal to Amount Borrowed divided by Property Value multiplied by 100.
    For example, if you wish to buy a house worth Rs.1 Crore and the LTV ratio of your
    the bank is 70%, then the maximum amount of loan that you can avail of is Rs. 70 lakh.
    The RBI has issued the below guidelines for the LTV ratio:
    For loan amounts of Rs. 30 lakhs and below, the LTV ratio for the loan can go up to 90% of the property, and for loan amounts above Rs. 30 lakhs, the LTV ratio can go up to 80% of the property value. For loan amounts above Rs. 75 lakh, the LTV ratio can go up to 75%. If the LTV ratio is 90%, at least 10% of the property value will have to be paid from your pocket and the rest of the amount can be funded through a home loan.
  • Property Approval and Valuation
    The property against which one wishes to avail a home loan should be legally approved and constructed by a reputed builder. For home loans of higher ticket size (Rs. 1 Crore & above), housing loan lenders prefer getting valuation details from independent valuers.Once a person meets all home loan eligibility requirements, they can easily make
    their dreams come true. It also comes with a series of benefits, some of them include:
    • Investing in Real-Estate is an appreciating asset:
      Property prices in India are slated to appreciate in the longer run. This makes home buying, one of the smartest forms of investment.
    • Home loans are a tax savior:
      As mentioned in the Income Tax Act – Section 24, a maximum deduction of Rs. 2 lakhs can be claimed by homeowners on their home loan interest for a self-occupied property.
      In case the property has been rented out, the tax exemption is Rs. 2 lakhs or actual interest paid by the taxpayer; whichever is lesser.
      Section 80C also gives the provision of a deduction of Rs. 1,50,000 on the Principal amount repaid.
    • Home loans improve credit score:
      Paying off your home loan EMIs on time is a great way to improve your credit score. If you make all your repayments on time and have a good credit score, availing of other loans such as a car or student loan becomes easy.
    • Home loans are a cost-effective way of funding a long-term asset:
      Home loans have the cheapest rate of interest in India as compared to other loans. It’s easy to get a home loan since it is secured against an asset.
    • Pradhan Mantri Awas Yojana (PMAY):
      A Credit Linked Subsidy Scheme (PMAY-CLSS) enables home loan borrowers purchasing or constructing their first pucca house to get subsidies credited into their
      loan account of up to 2.67 lakh.
    • Repay with ease :
      Home Loans let you enjoy longer repayment tenures ranging from 10 years to 30 years. Although, If you can pay higher EMIs, we’d suggest you opt for a shorter tenure Summing it up, you can now easily check your home loan eligibility with the help of a home loan eligibility calculator. More so, in today’s times when everything is available online, you can now avail of a home loan from the comfort of your home,
      with just a click. Happy home buying!

Source : https://www.bajajfinserv.in/home-loan