Tag: Satellite Developers Private Limited

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Mumbai’s western suburbs prove to be an attractive realty hotspot

Mar 1, 2021 by Rekha Nair 0 Comments #Director, #Head Sales, #Marketing & CRM, #Mr. Bhasker Jain, #Mr. Bhushan Nemlekar -, #Mr. Himanshu Jain – VP-Sales, #Satellite Developers Private Limited, #Sumit Woods Ltd., #The Wadhwa Group

The changing landscape of the Mumbai Metropolitan Region has ensured the rise of prime residential hotspots and one such area that has undergone transformation in terms of infrastructure development over the years and emerged as a great investment avenue is the north corridor of Mumbai’s western suburbs. A spurt in demand of residential projects from Malad to Dahisar has garnered increased enquiries from homebuyers due to excellent social infrastructure and improved connectivity.

Commenting from the investment point of view, Mr. Bhushan Nemlekar, Director, Sumit Woods Ltd. said, “This belt in the Western suburbs fulfils the expectations of homebuyers of all categories with its wide range of options for residential properties. The area is all set to witness more developments for providing a world-class living experience for its citizens. The property prices too are expected to increase once the Metro connectivity commences. The investors too are looking up to this booming marketplace for safeguarding healthy returns.”

The Government is focusing on a number of projects to develop infrastructure across the MMR. Mumbai Metro Line 2 and Line 7 are soon set to improve the region’s connectivity manifold. Line 7 will connect Dahisar East to Andheri East which is one of the prominent business districts in Mumbai. Line 2A will connect Dahisar to DN Nagar in Andheri West and a further extension of this Line 2B will connect DN Nagar to Mankhurd. This will make it a breeze to travel from the north corridor to the Western and Eastern Suburbs of Mumbai. The upcoming Coastal Road planned between Nariman Point and Kandivali along with the Metro connectivity is touted to enhance the connectivity nexus and real estate prospects around the north corridor of Mumbai’s western suburbs.

Commenting on the advantage of western suburbs, Mr. Bhasker Jain, Head Sales, Marketing & CRM, The Wadhwa Group says, “The area has witnessed rapid development in the last two decades both in terms of residential growth and population. This is fairly evident with several large residential pockets coming up in recent years. The north corridor of the western suburbs has drastically evolved with the help of infrastructure reforms and demand driven by the homebuyers. The upcoming Metro lines and the easy access to the Western Express Highway will be going to be a game-changer for this location in terms of driving demand. Also, its proximity to commercial centres and the upsurge in new projects with modern lifestyles & amenities continues to generate interest amongst the prospective residential buyers.”

Over the years, the belt has witnessed rapid development of social and physical infrastructure consequently the demand for residential properties in the area has also thrived. Apart from being close to nature, it has access to some of the finest social infrastructural facilities such as reputed schools, colleges, health facilities, shopping malls and ample entertainment options. Although affordability highlights the residential market of this region, the demand for premium housing has also seen an upsurge in recent years. Also, it is noticed that many corporates have moved towards the suburbs to places like Bandra, Andheri, Goregaon, Malad, etc. Therefore the extended western suburb stretch is quickly becoming a sought-after place for employees to shift base too. High-rise apartments and integrated townships are growing in large numbers. Thus, house buyers of Mumbai in search of spacious house have found an alternative destination in this pocket of MMR.

Commenting on the locality, Mr. Himanshu Jain – VP-Sales, Marketing & CRM, Satellite Developers Private Limited said, “The western suburb of Mumbai is becoming an epicenter of realty transactions, both for end-users and investors. Called as the suburb with innumerable opportunities, it boasts everything from connectivity to social infrastructure to an urban lifestyle that is driving both end-users and the developers equally to it. With so much infrastructure development coming in this area, it definitely promises to be a safe bet for your real estate investments.”

The western corridor from Kandivali to Mira Road also has numerous location advantages such as it is linked to Mumbai via the Western Express Highway and the suburban rail network; to Thane, Bhiwandi and Kalyan via Ghodbunder Road and to areas in Gujarat via the Mumbai-Ahmedabad Highway. The domestic and international airport is also 30 minutes drive from this region.

Due to its superior connectivity and so much to offer, the real estate market in this region is poised to grow by leaps and bounds in the near future. More builders are now catering to the rising demand in the region and spurting the growth and increasing the buying options for buyers.

Business World

Post-Budget Reactions on the Real Estate Sector

Feb 1, 2021 by Neel Achary 0 Comments #Abhishek Jain, #Chief Operating Officer, #Satellite Developers Private Limited

Mr. Abhishek Jain, Chief Operating Officer, Satellite Developers Private Limited (SDPL)

“The Union Budget 2021-22 continued the government’s focus on the affordable housing sector. The government’s decision to extend tax holiday for affordable housing projects by another year is a step in the positive direction to boost the sentiments among real estate players in the market and achieve the government’s vision of ‘Housing for All by 2022’ for India. This budget has focussed heavy on infrastructure that will indirectly lift the housing demand especially in the Tier II & Tier III cities. Also, the Government’s continuous efforts to promote affordable housing will help the real estate sector business in a long way going forward.”

Business World

Pre-Budget Expectations for the Real Estate Sector

Jan 24, 2021 by Neel Achary 0 Comments #Chief Operating Officer, #Mr. Abhishek Jain, #Satellite Developers Private Limited

By Mr. Abhishek Jain, Chief Operating Officer, Satellite Developers Private Limited

“After the adverse effects of the pandemic, the real estate sector has seen a steady recovery in the last quarter of 2020 backed by positive Government reforms, low-interest rates, and stamp duty reduction. Now, to sustain the momentum, a lot is expected from the upcoming Union Budget 2021. Revising the tax exemption limit for individuals under Section 24 from Rs 2 lakh to Rs 5 lakh will help increase the purchasing power of the homebuyers. The sector hopes that they should also re-introduce GST with input tax credit on under-construction properties that will help in bringing down the cost of construction resulting in reduced property prices in the market. Furthermore, the sector expects a GST waiver for under-construction properties in the housing sector. These reforms will push the demand in the sector and ease the prevailing financial crunch.

One of the major constraints for demand had been the affordability of homes. Various states had provided time-bound relaxation in stamp duty on housing purchase, which was seen to have a positive impact on demand and sales. The increase in the tax holiday available to developers under Section 80IBA to boost the affordable housing construction is another critical expectation along with the adequate liquidity support to fund the stalled housing projects. The budget could consider further steps to improve affordability. Decisions such as the removal of Rs 45 lakh cap along with the extension of 1% GST will surely be a great pact for the affordable housing segment.

Being heavily dependent on government policies and regular cash flows, the sector constantly requires policy support for its speedy recovery and even functioning. Thus, the industry expects the government to unveil reforms that would infuse liquidity for this distressed sector.

To provide industry status is one of the long-standing demands of the real estate sector that will surely help in fundraising for the projects from various schemes. On the whole, the budget should focus on firm measures that would further reinforce demand in 2021.”