‘It is advisable to invest in Titwala’
Answers queries on Home Buying, 2nd Homes and Property Investments
I am planning to buy 1BHK flat (650 area) in Titwala at the rate of 2700 per sq ft. Currently my budget is 18 Lacs. Please advise me whether should I invest or not.
– Neelam Singh
I would advise you to invest as the rates in the far flung vicinity of Mumbai have been on the rise on the back of good demand. It will prove to be a good investment in the long run.
I have found a affordable Investment option near Panvel. It falls in the Gram Panchayat area. Are there any problems to Invest in such area and can the builder carry out work smoothly?
—Hreekanth Madhukar Sapte
Although the location may be in Gram Panchayat area, all permissions for the same have to be approved and passed by the Town Planning Department and Collector. The Gram Panchayat has no powers to approve any plan. Secondly, since its in the Gram Panchayat area the local municipal corporation is not obligated to provide utilities like water supply, sewage lines and garbage collection. You need to check the source of water supply and provisions for sewage management and garbage clearance. The ability of the developer to carry on work smoothly depends on the developers ability and financial position irrespective of where the project is located.
I am getting a very good deal in Andheri West for a 2bhk flat. However the said building is 8 years old and still does not have an occupation certificate. Is it safe to buy in such a building or what issues can I encounter? – Mr. Dhiren
Occupation Certificate is the most important document to be obtained by any developer before handing over possession of the building to residents. In fact the municipal corporation is not obligated to provide utility services for buildings without an occupation certificate. It would not be advisable to get into the transaction under such circumstances. You may check if there is any violation of building plans due to which the building has not got an occupation certificate.
Hi, I am settled in US and read your column regularly through epaper. I was looking to invest some money in Mumbai real estate. Through which medium is it possible to do so without physically having to flydown there? – Mr. Chetan
You can browse through property websites, take the help of brokers on the ground. Relatives are of great help at such times. If you are not going to come down to transact, you will certainly need a Power of Attorney holder in India to transact and sign off documents and complete the legal process on your behalf.
Answers queries on Home Buying, 2nd Homes and Property Investments
I am planning to buy 1BHK flat (650 area) in Titwala at the rate of 2700 per sq ft. Currently my budget is 18 Lacs. Please advise me whether should I invest or not.
– Neelam Singh
I would advise you to invest as the rates in the far flung vicinity of Mumbai have been on the rise on the back of good demand. It will prove to be a good investment in the long run.
I have found a affordable Investment option near Panvel. It falls in the Gram Panchayat area. Are there any problems to Invest in such area and can the builder carry out work smoothly?
—Hreekanth Madhukar Sapte
Although the location may be in Gram Panchayat area, all permissions for the same have to be approved and passed by the Town Planning Department and Collector. The Gram Panchayat has no powers to approve any plan. Secondly, since its in the Gram Panchayat area the local municipal corporation is not obligated to provide utilities like water supply, sewage lines and garbage collection. You need to check the source of water supply and provisions for sewage management and garbage clearance. The ability of the developer to carry on work smoothly depends on the developers ability and financial position irrespective of where the project is located.
I am getting a very good deal in Andheri West for a 2bhk flat. However the said building is 8 years old and still does not have an occupation certificate. Is it safe to buy in such a building or what issues can I encounter? – Mr. Dhiren
Occupation Certificate is the most important document to be obtained by any developer before handing over possession of the building to residents. In fact the municipal corporation is not obligated to provide utility services for buildings without an occupation certificate. It would not be advisable to get into the transaction under such circumstances. You may check if there is any violation of building plans due to which the building has not got an occupation certificate.
Hi, I am settled in US and read your column regularly through epaper. I was looking to invest some money in Mumbai real estate. Through which medium is it possible to do so without physically having to flydown there? – Mr. Chetan
You can browse through property websites, take the help of brokers on the ground. Relatives are of great help at such times. If you are not going to come down to transact, you will certainly need a Power of Attorney holder in India to transact and sign off documents and complete the legal process on your behalf.
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builders & developers in titwala