CONSULTANTS & INVESTORS
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PROPERTY DEVELOPERS RECONSTRUCTION
REPAIRS OF OLD BUILDING .
Real Estate and Promoters in Mumbai (India)
REDEVELOPMENT PROJECTS FOR
SALE / VACANT PLOTS ETC
We at glisters
under take projects for reconstruction,
extending floors in existing buildings, with
project reports fully
covering all details about our plane to add
floors and or
We are looking at areas like Bandra , Khar ,
Juhu Villa Parel,Andheri,and south Mumbai
for development projects.
and reconstruction welcomed
Redevelopment of Old
Building in Suburbs Gets Government Approval Subject to certain terms
and conditions as mentioned hereunder
Redevelopment of old
buildings in Mumbai suburbs and extended suburbs received a boost with
the state cabinet approving the . Old rented properties can now get an
FSI up to 2. And each tenant will, depending on the size of his earlier
flat, get a new flat of equal area or a minimum of 225 square feet from
the builder who redevelops the building. . According to various sources
and sury Mumbai's suburbs have 64,854 buildings, 19,032 of which are
rented properties. About 50 percent of these buildings are owned by MHADA
and the rest are privately owned. The statistics for the extended suburbs
were unavailable.As most leasehold buildings in Mumbai suburbs are in bad
shape because of insufficient care and illegal development. It has
recommended that the residents of the new buildings be asked to
compulsorily take the help of licensed architects, structural engineers,
plumbers, engineers and other building experts so that they can be held
responsible in case something goes wrong later. It has also suggested the
constitution of a panel of building engineers who will issue certificates
from time to time on the structural strength and condition of old
leasehold buildings etc..................
Flat buyers hope to reap TDR harvest
going to be a windfall for developers, and hopefully, prospective flat
lifting of ban on the use of Transfer of Development Rights (TDR) along the
western and eastern corridors, redevelopment of old ceased buildings and
freeing of mill lands and salt pan lands, plus the recent government
decision to scrap Urban Land Ceiling (ULC), will see an estimated 200
million sq-ft land being made available for development in the next few
years, say property experts.
have always believed that there is no scarcity of land in the city,
said Pankaj Kapoor of Liases Foras, a real estate rating agency. Slums
which occupy a major portion of the land have a huge amount of unconsumed
floor space. Then there are salt pan lands and old cessed buildings. While
it will take time for all these lands to be consumed, the huge development
potential will reduce the demand ratio and help stabilise the property market.
50 to 60 lakh sq-ft land can be absorbed immediately with the recent TDR
order, he said.
view the TDR order as an opportunity to improve civic infrastructure. It
is a win-win situation. Considering the development potential around
railway stations, one can construct parking lots above and below
newly-built complexes, shopping centres and markets. It will decongest roads
and encourage people to travel by public transport, said Sunil Bajaj,
a real estate consultant.
will also give 200-plus existing old buildings a fresh lease of life. With
height restrictions removed, you can build higher and leave space for
public amenities like wider roads and open spaces surrounding the buildings,
said M Shah, a suburban developer.
lets not be over-optimistic that property prices will crash. In just
24 hours, TDR prices for developers have jumped to Rs 2,500 a sq-ft, which
in turn, will reflect on the rate one buys the flat. Property consultants
assure that things will sober down after a year or more, once the supply
starts trickling into the market.
should hope so, said Mehul Shah, a sub stock broker residing in a
chawl in Andheri (west). With a four-member familyto support, Shah had been
debating to purchase a flat for the past two years. But every time he saved
enough, the prices doubled to beyond his reach. He is fervently praying for
a stable market.