fozanl: Hi Dipesh, I just wanted to know what is the future of the real estate sector after demonetization and the RERA ? In my humble view price are going to correct further and may crash in the near term.
Diipesh Bhagtani: RERA is very good for the industry. Its very important for a sector like ours to be regulated. The big challenge is that there wont be as many projects since the rules are stacked against the developer. But one thing is for sure that there will be timely delivery & buyers will have less worries. Also for every dispute u need not go to the court & the regulator shall sort it for u. Whereas demonetization is concerned its biggest impact will come on interest rates. They are bound to reduce and that will have a positive impact on sales. Also not all markets in india demand cash. Most of the micro markets demand cash n they will be a bit affected. Otherwise on a whole it wont have a huge impact and the prices crashing has just been overblown.
guest: Future of real estate industries?
Diipesh Bhagtani: Well the real estate industry is going through a huge change. Its the pre RERA & post RERA. We have suddenly shifted focus from that & everyone is talking abt demonetization. But the future of real estate looks absolutely positive. Once the regulator is in place and the governments housing for all scheme kicks off. The future looks positive.
guest: is it good to buy residential now or later? are the property rates going to go down?
Diipesh Bhagtani: In real estate the best time to buy is always NOW. Since RERA is around the corner and the rules are stacked against the developer. Its quite possible that inventory will take a hit. Once that happens prices might always go on the upward. Also it depends which markets are u looking at to buy these residential properties.
nev38: Hello Sir, I am NRI wanting to buy a home in Mumbai. Considering between places like Mira Bayander or Thane. what do you suggest? Budget will be max 70 L . Can you suggest some good projects. Thanks
Diipesh Bhagtani: With the budget that u have. The two locations u are talking abt are definately the best. Mira Bhayander is really close to mumbai on the western line and has great accesibility. Also it looks to be developing really well. Thane on the other hand is also doing wonderfully well due to the infra projects & connectivity. These two regions are absolutely bound to grow. U can check the Darvesh project & VV realty project in Mira Road & Raunak & Rajesh Lifespaces in Thane.
nev38: I am Looking of options of buying a 2bhk as home in mumbai or outskirts. My budget is around 70 -75L , it has to be closer to airport. can you suggest?
Diipesh Bhagtani: With the budget that u have. I think buying a property in mumbai close to the airport looks really difficult. The best is u look at properties in mira bhayander region. A 45 minute train ride can get u there from the airport. Also if u looking at the future then buying a property in Navi Mumbai can also be good since the airport work has got all clearences & will be looking to start anytime soon.
guest: how about purchasing agriculture farm?
Diipesh Bhagtani: A lot of people do invest in buying Non Agriculture. Incase u invest in agriculture then before u trade it off ensure that the NA of the land is done. Incase u intend to keep it for a long time then it could be a good investment. Ensure that some day land prices do increase in that area.