Recent trends in the Mumbai area show downward pressure on property prices

A study by data analytics firm Propstack showed 1 bhk flat for sale in kharghar a decline in the last two months of May and June from average prices in 2019-20, according to registration data available for 275 projects.

MUMBAI: Housing prices in the Metropolitan Region of Mumbai (MMR) 1 bhk flats in kharghar for sale have begun to ease as registration of apartments in several developer projects showed an early pattern of downward movement, a study showed.

real estate market in mumbai

A research by data analysis showed a fall in the last two months of May and June from average prices in 2019-20, according to the registration data available for 275 ventures.

1 bhk flat on sale in khaeghar it is focused on an examination of 275 residential projects in Mumbai, Navi Mumbai and Thane which have seen property registration during this period.

“Majority of deals are those where pre-Covid reservations took place and are now registered. In view of the effects of the pandemic before registration, it appears that homebuyers will renegotiate for better pricing and rewards, “said Sandeep Reddy, co-founder, Propstack.

The rates considered for the study are mixed prices including floor rise, parking, preferred place charges and other charges of this nature.

Of the projects surveyed, 1 bhk flat sale in kharghar 41 percent witnessed a fall in prices of up to 5 percent, while 16 percent and 14 percent witnessed a fall in prices of 5-10 percent and more than 10 percent.

Ironically, during this time, 28 per cent of projects saw prices rising up to 10 per cent. Luxury apartments priced above Rs 5 crore were about 4 percent of the properties dealt during the time. These apartments, however, represented 31 per cent of the total value of the apartments sold in terms of value.

Properties in Thane led the volume out of regions with the value dominated by the western suburbs.

Mumbai: Consumer Forum asks 1 bhk flat on sale in kharghar Star India Projects to reimburse delay compensation

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MUMBAI: The Maharashtra State dispute resolution Forum ordered a builder to pay a flat buyer Rs 75,000 in payment for not handing over ten years of ownership of the flat, even after agreeing 95% of the sales price.

Anil Sharma, a retired Navy official, 1 bhk sale in kharghar claimed he and his wife had booked a flat in a scheme being built at Karjat near Mumbai for Rs 13,74,600 by Star India Projects.

He charged the company Rs 13,32,870 betweeen from July 2010 until April 2014. The flat was due to be handed over by May 2012, but the building abruptly stopped and it was not intimated by the flat buyers, Sharma claimed.

He and his wife eventually moved the consumer forum, seeking refund of the money paid.

The counsel of Star India Projects claimed before the court that it was happy to hand over the possession but the complainant declined to consider it.

But the forum found little merit in the contentions of the real estate company, 1 bhk lat for sale in kharghar near station since it did not provide any supporting documentation.

“Plaintiffs have not yet taken possession of their dream house. Developer can not ask flat buyers to wait indefinitely for possession of their dream house despite complete consideration payment,” noted the platform.

It kept Star India Projects guilty of “deficiency in service” and “unfair trade practices” in its order earlier this week, asking it to refund Rs 13,32,870 along with Rs 65,100 paid for the stamp duty and Rs 14,910 paid for the registration fees.

The forum further guided Star India Ventures to reimburse Rs 50,000 for “mental and physical abuse” and Rs 25,000 for litigation costs.

 

1 BHK Flat For Sale In Kendriya Vihar Kharghar, Navi Mumbai.

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