Explore the transformative impact of the Mumbai Trans Harbour Link (MTHL) on real estate, from shortened travel times to rising property prices in areas like Panvel, Ulwe, and Dronagiri. Delve into diverse expert opinions, potential for luxury projects, and the commercial real estate potential, as the MTHL reshapes Mumbai's landscape and unlocks new possibilities for connectivity and development.

Dive into the dynamic landscape of Real Estate in 2023 with our comprehensive overview. Explore unprecedented growth, emerging trends, and valuable insights for homebuyers in a year that redefined the real estate market.

Explore the shifting dynamics of Indian real estate with the growing influence of women homebuyers. Delve into empowering trends, financial incentives, and changing demographics shaping the landscape. Witness the proactive measures taken by the government and financial institutions, fostering gender equality and inclusivity in the housing market.

This article covers recent rules implemented by RERA to protect the interests of homebuyers, including key provisions related to rules for payment, rules for possession, and rules for renewal.

Incremental PMAY allocation of up to 79,000 crore will give momentum to affordable housing and assist a wide range of homebuyers. It is anticipated that this allotted amount will address more than 55 percent of the estimated deficit in funds for projects that fall under the scheme.

Since the last eight years, income tax slabs have not changed, so homebuyers had expected a considerable relaxation of tax benefits in home loans. Also, the recent rise in interest rates following an increase in repo rates by the Reserve Bank of India had also forced many to put a lid on their property buying decisions. In order to increase middle-class buying power, FM in the Union Budget said the income tax rebate threshold has been increased from Rs 5 lakhs to Rs 7 lakhs.

The first important event that every Indian looks forward to at the start of every year is the Union Budget. Investing in real estate through the purchase of a home or in any other form has plenty of benefits like that of long term wealth creation, security as well as getting you tax benefits. Union Budget 2023 will be announced on February 1 by Finance Minister Nirmala Sitharaman.

Because of better connectivity and facilities, as well as reduced travel time on the roads, the Mumbai Metro has, up to this point, had a favorable influence on property prices in Mumbai. Experts in real estate believe that the metro will continue to impact real estate price trends in a variety of neighborhoods throughout Mumbai, as well as on the city's overall property pricing.

In the big picture of the Indian economy through 2023, there are only good signs: an overall growth of 8 to 9 percent, an expected rise in the number of jobs created, and a rebound from the recent drop in the stock market. All of these things would eventually lead to more people entering the housing market, which is very important for the health of the real estate economy.

Repo rates are the interest rates charged by the Reserve Bank of India to commercial banks when borrowing money. Banks' borrowing costs are increased if the central bank increases the repo rate. The hike is the fifth consecutive one for this financial year. Earlier, the RBI had raised the rate by 40 basis points in May and by 50 basis points in June, August and September respectively.

Residential property owners will be able to pay only the current and preceding five years' principal property tax under the SAMRIDDHI 2022-23 scheme. Commercial property owners, according to an official statement, can pay the principal amount for the last six years and receive a waiver on past pending dues, including penalties and interest.

Experts say that interest rates are important, but that doesn't stop people from buying a home because the decision is based on the buyer's current income and long-term plans.

Despite the RBI's repo rate hike for three consecutive sessions, which resulted in banks and NBFCs increasing benchmark lending rates and making EMIs more expensive, home purchase demand has remained consistent due to the monsoon.

A House Price Index (HPI) looks at how the prices of homes have changed as a percentage since a certain date

On August 5, 2022, the Reserve Bank of India (RBI) hiked the repo rate by 50 basis points, bringing it to 5.40%. This is the third consecutive increase in the repo rate this fiscal year, following increases of 40 basis points in May and 50 basis points in June. In this fiscal year, the RBI has raised the repo rate by 140 basis points.

Given that 306 luxury housing units worth Rs 4,877 crore were sold in Mumbai during the first three months of the calendar year 2022, it is reasonable to expect the sales trend to continue this year.

April 2022 and 2021 were preceded by record-breaking March months. As March 2021 marked the end of a 3% stamp duty exemption, sales increased. However, the month of March 2022 showed an increase in sales as it was the final month prior to the implementation of an additional 1 percent metro cess.

Majority of the projects, particularly those in the affordable category, have small margins of 10-15%, and the rise in raw material costs has resulted in a combined increase of more than 15% in construction expenses, rendering the same projects unviable at current sale prices. As a result, additional costs will need to be passed on to consumers to ensure the financial viability of many developers' projects.