Mumbai Real Estate Picks up, Developers Cashing in on Positive Sentiments

The Indian real estate market has been picking up since Q1 2016. According to the 'Asia Pacific Capital Markets in Focus' - July 2016 by JLL, investors are looking towards development and debt products to gain or increase exposure to the real estate sector.

Several large financing deals are in progress for new launches or under construction projects by developers with good track record. The recent Real Estate Act (RERA) is also likely to bring higher transparency within this sector and help attract investor interest.

With a forecast of GDP growth in the 7-8% range for the Fiscal Year 2016-17, this seems to be the perfect time to invest in real estate. These positive market sentiments have encouraged developers across the metros to start aggressively marketing their projects once again.

Among them is Mumbai-based Dosti Realty showcasing 5 projects through their annual marketing program - 'Friendship Month Celebrations'. As part of the celebrations in August, Dosti Realty is offering customers phenomenal savings benefits across these properties.

"The response for Friendship Month has always been extremely positive and this is the 4th year that we are proud to have this celebration. For those looking at investment or end use, it's a once-in-a-year opportunity we give customers to purchase their dream home at prices that are a steal," said Deepak Goradia, Chairman and Managing Director of Dosti Realty.

The premium projects featured include Dosti Ambrosia, Dosti Imperia and The Majesta. Dosti Ambrosia is a 36 storey tower set amidst the sprawling 18 acres of Dosti Acres-New Wadala, a landmark in Mumbai.

This tower which is ready with the occupation certificate comprises 2 & 3 BHK apartments that offer residents an exclusive rooftop swimming pool, 40000 sq.ft of landscaped gardens, 2 club houses, a tennis court, stunning views of the sea/city and more.

Dosti Imperia located on Ghodbunder Road, Thane (W) consists of 5 towers, 4 of which are ready with the occupation certificate and includes 2 & 3 BHK apartments. The 5th tower - The Majesta is 70% complete and caters to connoisseurs looking for a lavish lifestyle, offering them 4 BHK suites with 7 decks, a 600 sq.ft. lobby at each level, stunning views of the Ulhas river/city etc. Residents here will enjoy a plethora of lifestyle amenities like squash court, party lounge, library, cafeteria and more within the complex.

The other projects in the offering include Dosti Vihar at Pokhran Road 1, Thane (W) and Dosti Planet North at Shil - Thane. Dosti Vihar already houses 1400+ happy families and now has limited 2.5 and 3 BHK's available. With ready amenities like an AV room, 3 large banquet halls, jogging track, cafeteria, senior citizens area etc, there is something for everyone. Planet North is a 25-acre township comprising 1, 2 and 3 BHK garden/hill facing apartments with a host of amenities within the 30,000 sq.ft clubhouse.

 "Both New Wadala and Thane are prime investment destinations in Mumbai. From 2002- 2016 property prices in New Wadala have increased over 100% and are likely to propel further post the proposed MMRDA makeover Plan. The Thane location has also seen exponential growth both in the commercial and residential sector. According to the Residential Investment Advisory Report, 2016 by Knight Frank , Majiwada-Kasarvadavali is projected as one of the top 5 investment destinations across 5 major cities in India," added Deepak Goradia.