It's the best time to invest in Residential Real Estate

Investing in real estate in not so good times can actually be a good time for customers," says Dr. Ashutosh Khatawkar, Business Head, Bombay Realty

BRAND CONNECT
Published: Oct 30, 2020 05:06:22 PM IST

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Dr. Ashutosh, who holds a PhD in Business Administration & Economics & MBA in Marketing, is absolutely convinced that this is the best time to invest in one’s dream home. “With the lockdown easing, there is an apprehension about how things will unfold. However, every crisis presents opportunities too, and Covid-19 is no different. If you ever were inclined to invest in a home but kept delaying & waiting for the right time, then this is it,” says Dr. Ashutosh and we couldn’t agree more.

While living in Mumbai has its challenges and desirable homes which make for safe and well-connected abodes are hard to find, Bombay Realty is one real estate company that has made it a priority to provide the elite of Mumbai an international lifestyle with ultra-spacious luxury residences in an oasis that is secure and green.

Bombay Realty, the company which has redefined the Mumbai skyline with projects such as Springs, AXIS Bank HQ, and now Island City Center. Across all these constructions of international standards, they have always made quality a priority.

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Bombay Realty is a division of Wadia Group, a name that stands for trust and excellence with a legacy of over 283 years. After creating successful brands such as Bombay Dyeing, Britannia and Go Air, Wadia Group has presented Bombay Realty, its real estate arm with a vision to transform and redefine luxury living in Mumbai.

Bombay Realty’s iconic development, Island City Center (ICC) is now ready for possession.

Island City Center

Island City Center is a reflection of the lifestyle people have in sophisticated metropoles across the globe. The vast, landscaped open areas are sure to bring Hyde Park and Central Park to the minds of the residents. This is just a confirmation that Bombay Realty is a name which Indians have come to identify as the definition of refined living and sophistication.

Situated in Dadar (E), living at ICC ensures easy connectivity with the entire city while ensuring that its residents can disconnect from the chaos, the moment they step back in. As the East is set to become the new West with the proposed Navi Mumbai International Airport, ICC will become the new center of the city. With the Eastern Freeway, the upcoming MTHL, Monorail, and Coastal Road all easily reachable, one can get to every corner of the city within minutes from ICC.

ICC spreads over 23 acres at Dadar, is a gate community with internal private roads, unparalleled security and world class infrastructure. The two super-structures of ICC, rise above the Mumbai skyline up to 59 and 65 floors, offering largest in class carpet areas of spacious 3 BHK and 4 BHK apartments.

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Nestled amongst hundreds of trees, Island City Center is IGBC LEED gold-certified and built to the finest standards of 'Green-Design'. Here is where one can find a tranquil haven or an oasis of luxury in the heart of a bustling Mumbai. Island City Center uses smart designs and top innovative technology which enhances the health and well-being of its residents. This environment-friendly development is energy efficient and water efficient.

Using cutting-edge technology, these glass facade towers are inspired by some of the world’s most iconic towers, like the Burj Khalifa, Dubai, and The Ellipsis, Hong Kong. From energy-efficient glazing and lighting systems to organic waste converters, to highly eco-friendly landscaping and more, the ‘green’ features place ICC apart and make it the ideal space for a futuristic life in Mumbai.

Safety is ensured by following international security standards from the entry gate point; the superstructures being under 24/7 surveillance. With just two or three apartments per lobby, we also offer the largest-in-class carpet areas across Mumbai. These VRV air-conditioned luxe living spaces feature the finest of international marble, elegant wooden flooring, expansive walk-in wardrobes, and modular-kitchens; giving residents extravagantly appointed abodes with excellent panoramic views, while allowing for ample natural light.

The ventilation system also means that the air within the apartments is purified many times a day. This keeps up to 60% of pollutants out so that everybody living in these homes can breathe easy and build stronger immunity.

The extravagant clubhouse and welfare center at ICC are also amongst the largest in the city. Over 140,000 sq. ft. of recreational and open areas to be shared by the residents of merely 500+ apartments, adds to the exclusive experience.

Catering to multiple preferences, we have over 45 indoor and outdoor privileges to choose from. One could favor a jog across our internationally-designed track or take a relaxing dip in the pool with the family. All these privileges are ready-to-use so that nothing comes between our residents and their enjoyment of life.

An esteemed list of international partners with unmatched expertise across construction and infrastructure allows us to implement unprecedented quality standards at Island City Center, ensuring that we set a benchmark for ‘International Living’ in Mumbai.

With an esteemed list of national & international partners ICC ensures uncompromised quality with top-of- the-line expertise in design & construction, thus setting a benchmark for quality living in Mumbai.

With this unique mixed used development concept, Island City promises ‘A BETTER LIFE.’

According to Dr. Ashutosh Khatawkar, Business Head, Bombay Realty, there are many reasons why it makes sense to invest in residential real estate during these times.

Sense of security: With uncertainties all around, everyone wants to own a home. A recent survey suggests that 92% of the respondents would like to invest in property during these times, not for immediate returns, but because it’s less volatile. Today, when work from home is gaining prominence and personal safety is vital, it also makes perfect sense.

Better performing asset: Given the uncertainties today, residential real estate has emerged as a safe investment option because of stability it offers compared to volatile stock market and fixed income options with frequent rate cuts. So when the economy starts recovering, one can expect a higher return on their real estate investment.

Ready-to-move in (RTMI) options: This is a great time for people who prefer ready projects by taking advantage of an all-time low home loan interest rates and no GST. They are also protected against unforeseen construction delays, stalled projects and liquidity crunch.

The New Normal: With work-from-home and social distancing emerging as the new norm, people prefer larger sized apartments where they can set up a small office too in low density developments with large outdoor spaces. Also a gated complex without sharing a pay & park facility helps the residents to maintain social distancing.

Lucrative Home Loan Rates: Current market conditions are conducive for home buying as the home loan interest rates are at an all-time low. Post lockdown, this has become a big trigger for end-users & investors. RBI recently announced reduction in REPO rate making home loans cheaper. This will spur investments and boost the sector through increased cash flows. Also, buying a property in India is more attractive for NRIs now as the rupee has depreciated considerably against the dollar.

“There are clear indications that positive consumer sentiment is gradually coming back in the current realty market. Also, the government relaxations due to COVID-19 actually make property buying more lucrative for both end users & investors. So, why wait for the right opportunity when your timing is just right for investing in a residential property,” says Dr. Ashutosh Khatawkar as he signs off.

Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.

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