After a 6-month lull during which very few building plans were approved, municipal authorities in Mumbai recently approved a number of building plans. None of these approved plans deviated from the development control regulations and did not seek any "concessions" that would allow developers to sell more than the applicable FSI on the plot.
New approvals hold promise of new supply. However, the liquidity environment for developers remains extremely tough, with many mid-sized developers resorting to expensive new debt to re-finance maturing ones. Combined with their unwillingness to cut prices to improve volumes, we feel many developers will delay launches, as the demand environment is weak (for which they have only themselves to blame!).
Mumbai Redevelopment FSI 3.0:The government also approved the proposal to increase FSI for redevelopment of cessed buildings from 2.5x to 3x. This increase can be availed by existing projects where construction has not gone beyond the plinth level. Also, the cap on flat size (earlier at 753sq ft) has been removed. However, the new rules require a side space of 6m against 1.5m earlier and require the developers to take permission from the high-rise committee of the BMC in case the height of the building is more than 9 times the breadth of the plot.
Tuesday, May 24, 2011
Thursday, May 12, 2011
Historical Home Loan Rates India
We present to you the historical Home Loan / Mortgage Rates in India in the past 20 years which are directly coupled to the RBI Monetary Policy. Source of this Data is HDFC, India's leading Housing Finance Provider.
So if you are planning to BUY your house you can use this and see when to enter so that your EMIs are affordable.
So if you are planning to BUY your house you can use this and see when to enter so that your EMIs are affordable.
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