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    Hello and welcome to the webchat with Ashutosh Limaye, National Director–Research, JLL India on all queries related to investment in residential real estate

  • S


    The Real Estate Bill 2016 which became an act on May 1 is expected to protect the interests of home buyers in India. Do you see any risks attached to the same? What is your reading of this act?


    This Bill, which was waiting in the wings for far too long, will significantly reduce the various irregularities and contrasts currently plaguing the Indian real estate sector now that it has become an Act. RERA will help make the Indian real estate sector more mature, and more attractive for consumers. It will, for instance, disallow the common practice among many developers of pre-launching projects without getting requisite approvals from the local authorities, and it will make mandatory project registration with the regulator. Developers will also have to disclose approval status, project layout and timeframe for completion to the regulator as well as customers. The incumbent government has succeeded against various odds and given Indian real estate its most valuable card. RERA is a verdict to end the age of information asymmetry, lack of accountability and unwarranted project delays, and marks the beginning of rising transparency, liquidation of assets – and, importantly, positive sentiment.

  • D


    Which sectors in Mumbai according to you has the fastest growth potential currently in terms of rate appreciation?


    In 2015 at the sub-market level, south-central Mumbai and eastern suburbs saw the maximum appreciation at 4.3% and 4% respectively, followed by north Mumbai and western suburbs at 3.9% and 3.5% respectively. Outside the city and suburbs, Thane saw a 3% appreciation in capital values whereas the figure for Navi Mumbai stood at 6%.

  • D


    I wish to invest in a studio apartment close to the beach in Goa which I plan to give out on rent. Which are the places in North or South Goa that are ideal and what could be the approximate cost for a 400sq studio apt?


    The best bet would be to opt for projects near the most popular beaches. 1RK studio apartment in and around Calangute (North Goa) can cost anything between 25-65 Lakh, depending on the age of the project and proximity to the beach and commercial centres.

  • S


    Government plans to see a notable rise in housing projects for people belonging to the low income group. Do you see this as a road of improving the prospects for affordable housing in India? Will this give a boost to the real estate industry?


    Yes, it is a major step towards the Housing For All vision of the current government.

  • R


    I have a house in Mumbai but wish to invest in Navi Mumbai. Which are the ideal places that have good connectivity? What would be the approximate price for a 1BHK apt?


    Vashi, Kharghar, Belapur are few of the residential suburbs gaining prominence due to factors like excellent connectivity and great infrastructure. Also, investing in areas close to the upcoming International Airport would be a wise bet.

  • D


    I am an NRI. I am interested in buying a one BHK in either Mumbai or Pune for investment purpose. Will Pune real estate be a better option for me taking into consideration the current economy?


    Depending on your budget, Pune would be a better option since there are many areas in the city witnessing good price appreciation. In Mumbai, prices have largely saturated and have grown only by about 3.5% last year. Pune is also a more cost-effective market for smaller property investors.

  • L


    I am thinking of buying a property in Delhi/NCR. I am 25 years old and have a budget of 45-50 lakh for purchasing a 3-BHK apartment. What will be the good areas to invest from an investment point of view?


    Noida, Greater Noida, Faridabad, Neemrana, Bahadurgarh are few of the upcoming locations that will provide you a property within the mentioned budget.

  • J


    Presently, I am residing in the island city in Mumbai and the resale value of the apartment is around Rs 1.5 crore. I wish to acquire two houses, one for my residence and the other for rental income. Which are the possible places I can look at?


    Your options would primarily be in Navi Mumbai and Panvel-New Panvel belt. I would advise you to purchase your primary home as close as possible to your current workplace, and make sure the connectivity to your workplace is satisfactory. The second home could be in one of the further suburbs and will also cost a bit less.

  • M


    I have shifted to Mumbai about 2 yrs ago and staying on rental basis. However, I wish to buy a house in Navi Mumbai and have identified Belapur as a central location. What is the price range for a 2bhk and which localities are the preferred ones?


    Property prices in Belapur roughly range between Rs.7000-12,000/sq.ft. However, the location is a major positive for the residential market of this suburb. You can also look for properties in neighbouring suburbs of belapur that offer great projects at relatively affordable prices such as Nerul, Kopara and Sea Woods.

  • S


    Dear Sir, I have properties in 4 different cities across India- Patna, Kolkata, Mumbai and Bangalore. My father passed away in 2012. Am planning to sell off few properties because it’s difficult to manage all alone. Which one should I sell off?


    Keeping the flats in the major cities of India would be a wise option as on the long run they can help you fetch some really good returns. You can sell the flat in Patna, and maybe reinvest in a better property closer to your home.