Government Of Maharashtra To Use No Development Zones To Develop More Affordable Housing Projects in Mumbai

It is a well know fact that staying in Mumbai can cost you a fortune, as the rate of properties in Mumbai always go high. One of the major factors that adds to this highly expensive real estate market is the mismatch ratio of high population in the city to the actual area for residential complex. To overcome this hurdle the government of Maharashtra has considered opening up land parcels under the no development zones as well as plots belonging to Indian Defence personnel in the effort to construct affordable houses in Mumbai.

As per Prakash Mehta the blueprint for affordable housing in Mumbai would be ready soon and if required they might also look into salt pan land, defence land, airports authority and BPT(Bombay Port Trust) for this mega project. The minister also stressed on the fact that there is a huge demand for affordable housing in the country’s commercial capital.

For this mega housing project, the land is spread over an area of 350 acres that would mainly focus on the eastern coast, under Bombay Port Trust’s control. According to Mehta, Maharashtra government has entered into an agreement with the Ministry of Defence that will allow land under its control in Mumbai to be used for mass housing project.

At the inauguration of MCHI's property exhibition in Mumbai he added, "For this purpose, we will be using the defence land that has been encroached upon by slum dwellers. In exchange of this, we will allot them land in other parts of Maharashtra." He encouraged developers who drew his attention to high taxes and development levies, to develop more affordable housing projects in the city.  

As per Mr Mehta, "We need 11 lakh affordable houses in Mumbai, and we would like to get your (builders') support on this. We need these houses within Mumbai and not in Mumbai Metropolitan Region. We will take care of MMR (for affordable housing), you focus on Mumbai.” He was referring to developer’s suggestion that they will be able to build affordable houses in Mumbai Metropolitan Region that includes areas such as extended suburbs of Vasai, Virar, Badlapur, Ambarnath. Mehta said he hoped to get a commitment within a month from developers to build affordable houses in Mumbai. 

Oberoi Sky City Launches A Residential Complex Made In Heaven.

When you plan to buy your own home you just don’t plan for next 10 years but you visualise your entire life there with your loved ones. Keeping this simple thought in mind there are developers who have shifted their focus to make homes for end users in which they can cherish their dreams and tailor their homes as per your necessities.  

A desirable home is one where you get a quality life that is time proof as well as it gives you an option to customize your paradise. Once the customer or the end user starts searching for the ideal home for themselves, they come across encounters which are not that encouraging to make your dream turn into reality.

If you are looking to purchase a house which gives you all the world Class Amenities, Sophisticated Facilities, Marble flooring for living room, Dining Room, Kitchen and All Bedrooms, Vitrified Tiles for Bathroom Flooring, Kitchen Platform with Stainless Steel Sink with Drain Board, Aluminium Powder Coated Windows, Laminated Internal Flush Doors and Video Door Phone. 

One of the developers who offer all this with price that have been wisely priced is Oberoi Realty, they are coming up with a new residential apartment that have been designed and crafted with perfection. With amenities that have been thoughtfully chosen, grand design aesthetics, beautifully carved out landscapes and acres of open spaces, Sky City offers a global lifestyle where residents can mingle with a discerning community and soak in the finest luxury.

Their name has always stood for quality construction and timely possession, they tend go a slightly over the range, with the brand such Oberoi in the picture this gives a customer the assurance that helps make one trust them. 

The same has been replicated in their new project, with their inspiration from the beauty of multi-terraced gardens, Sky City is literally an aesthetic experience on many levels. Grand pathways, sylvan nooks and corners, breath-taking entrances and a rare tranquillity everything here has been finely thought through to create a living environment that transcends the mundane into the realm of dreams.

Five Fantastic Ways to Save Money On Your Home Loan

When you go into terms with your lender it is a long term commitment that you are going into. One should be well versed and informed about both the sides of the coin, as the key to a stress free loan term is making timely repayments. 

If you have already planned your finances in a way that you would be comfortable paying your monthly payments, then time should not haunt you. Below mentioned are some great ways that would help you purchase your own dream home as well as make sure that you have stress free loan tenure. 

• Keep A Close Eye Your CIBIL Score And CIBIL Report:

Once you start planning of buying a home for yourself, you should start keeping a close check of CIBIL Score and CIBIL Report as they play a major role in any kind of loan processing. A satisfactory score and if you have not availed any new loan or credit in past six months, ahead of applying for a home loan. 

Do make sure that all the other details in your CIBIL report are correct, so that your loan application doesn’t get stuck on account of your CIBIL score. Once you get are able to put your CIBIL together if your score goes above 750, this mean you can now go about loan shopping. 

•  Do Your Research:

This is a chance for you to get to know the ground realty and helps you gather as much knowledge as possible, which would eventually help you frame a broader picture. Once you get into doing research work all by yourself you can calculate it yourself the best home loan that there is available for you. 

With the festive season having commenced, it will not be unusual for banks to entice prospective customers with teaser rates that may lure in to leap in, but do look before you leap.

• Negotiation is a Powerful Tool For You: 

When your Loan Application gets approved on the basis of your File, CIBIL Score you would be assigned a loan officer who will be the point of contact for you till your loan is approved and get your cheque or the amount transferred into the bank account. 

While your Loan Officer would try to prove his point, but if you have done your research you would not be fooled, make sure you have availed of every professional benefit you are eligible to avail of and get as many charges waived off as possible. A high CIBIL score gives you the power to negotiate, so make sure you make optimum use of the same. 

• Pay As Much As You Can As Down Payment: 

It is very important part of having a stress free loan tenure, if you pay maximum amount of Down Payment it would eventually help you. As the interest you would be charged would be on a much less principal amount, that would not only help you reduce the span of your loan tenure but also reduce the total amount that you would repay to your lender. 

Try making as much as you can in form of down payment, even if it means stretching yourself beyond your means. 

• Pay The Same EMI Despite A Falling Interest Rate: 

With the Reserve Bank Of India surprisingly slashing the rate cut in past few days means that now even the banks would have to reduce their rate of interest as well. If you are on a floating rate of interest, it obviously means that your EMIs will be smaller and your monthly outgo will be lesser, mean while the temptation to make lower payments can indeed be attractive but it is definitely not the best option to avail for.