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Merits of Redevelopment of Older Buildings in Mumbai

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Merits of Redevelopment of Older Buildings in Mumbai

Merits of Redevelopment of Older Buildings in Mumbai

Merits of Redevelopment of Older Buildings in Mumbai

The redevelopment of older buildings in Mumbai and the ongoing infrastructure development can have significant impacts on the real estate market. Here are some key effects to consider:

  1. Increased Property Values: Redevelopment often leads to improved living conditions, modern amenities, and enhanced aesthetics, which can drive up property values in the area.

  2. Higher Demand for Housing: As older buildings are replaced with newer ones, there is often an increase in demand for housing, especially if the new developments offer better layouts, facilities, and locations.

  3. Improved Infrastructure: With better infrastructure, such as roads, public transport, and utilities, previously less desirable areas may become more attractive for both buyers and renters. This can lead to gentrification and increased investment in these areas.

  4. Shift in Buyer Preferences: As more modern developments emerge, buyers may prioritize newer constructions over older properties, impacting the demand for the latter and potentially lowering their prices.

  5. Investment Opportunities: Redevelopment projects can attract both domestic and international investors looking for opportunities in emerging markets, which can further stimulate the local economy.

  6. Sustainability Trends: Many new developments focus on sustainability and eco-friendliness, which can appeal to a growing segment of environmentally conscious buyers.

  7. Market Segmentation: Redevelopment can lead to a diversification of the market, with various segments catering to different demographics, from luxury to affordable housing, depending on the redevelopment focus.

  8. Regulatory Changes: Government policies and regulations around redevelopment can also shape the market, impacting timelines, costs, and the overall feasibility of projects.

Overall, the redevelopment of older buildings and infrastructure improvements can create a more dynamic real estate market in Mumbai, but it will be essential for investors and buyers to stay informed about local trends and shifts in demand.

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About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/

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