With 219 ongoing projects, Kandivali Rates set to crash
Ahuge stock pil up in Kandivali East and West and there are yet one crore sqft yet to come in the market which is under various stages of development or planning. The rates have fallen from 12000/per sqft to Rs.7000/- to 9000/per sqft for ready flats and under constructions, there no takers. Since huge supply lined up and current-inventory is not selling, investors are panic selling their stocks and no new buying happening. Some of the leading projects in the vicinity :
Gundecha Trillium, Suntek Signia High, Mayfair Greens, Raheja Reflection Odyssey, Thakur J wel, Shivam Imperial Heights, Shapoorji Pallonji Alpine, White City, A ceme Avenue, Octa Crest, Parinee Essence, Bhoomi Legend, Shree Riddhi Siddhi, Sumukh Hills, NG Suncity, Evershine Mellinium Paradise, Lokhandwala Sapphire Heights, Vasant Sagar Complex, Gokul Garden, Gundecha Valley of Flowers.
Ten year old building and some of them without OC also offing for lesser than market price. Asha Nagar in East and Mahavir Nagar in west of Kandivali has many such deals with the brokers.
Real Estate listing site Magicbricks from Times of India have started e-compaigns for builders to generate leads. A recent email broadcast by the listing site offers properties at Kandivali ranging from Rs.55 Lakhs. See the offers : Table No. 1, 2, 3 Apart from these new projects, flats in old buildings and projects are also available. Ten year old building and some of them with- out OC also offing for lesser than market price. Asha Nagar in East and Mahavir Nagar in west of Kandivali has many such deals with the brokers. An estimate of a research house says that Kandivali alone has 25000 flats available for takers besides new constructions and some redevelopment proposals yet to come. Shapoorji Pallonji coming up with 50 lakh sqft in Samta Nagar and Tahkur Builders yet to show their huge land bank in the area.