Economic Times: Mumbai builders see an opportunity in small homes despite rising prices and market uncertainty

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Single working individuals and newly married couples, trapped in an environment of rising property prices, uncertain job market and a gloomy macro-economic scenario, are reconsidering the option of buying the more affordable one-bedroom apartments in Mumbai.

These home buyers, confident of good increments and job security in the past few years, had shunned such apartments and focused on buying at least two-bedroom apartments, or something even fancier. But things have changed since then, and these folks aren’t ready to take on higher liabilities of owning bigger apartments, especially at current rates.

Read more: Mumbai builders see an opportunity in small homes despite rising prices and market uncertainty

 

CNBC TV18: Housing sales in Mumbai show upward trend again

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The silver lining for the Mumbai real estate residential market may have arrived after almost a year long wait. Led by strong demand and stable pricing, housing sales have finally begun to show an upward trend again. Not surprising then that market analysts are expecting a better earnings picture come 2013.

Read the article here: Housing sales in Mumbai show upward trend again

Mid Day: How builders cheat you of your dream home

Of the 120 builders showcasing their properties at the MCHI-CREDAI exhibition, not more than a dozen were selling flats on the basis of carpet area. According to MCHI’s own code of conduct, a builder should disclose the carpet area to the flat buyer. While there were a majority of builders at the exhibition at the Bandra Kurla Complex by MCHI-CREDAI — a representative body of real estate developers — who were selling on the basis of “saleable” area, which includes built-up and super built-up area, Rustomjee was among the few prominent builders who talked carpet while quoting its prices.

Read the article here: How builders cheat you of your dream home

Times of India: Property 2012 begins

(L-R) Ms. Manju Yagnik, Co-chair person, MCHI- CREDAI exhibition committee, Mr. Mayur Shah, Vice President, MCHI-CREDAI, Mr. Bandish Ajmera, Chairman, Exhibition committee and Mr. Boman Rustom Irani, Hon. Sec, MCHI Credai & CMD, Rustomjee

Mumbai’s biggest real estate extravaganza, the 20th MCHI-CREDAI Property 2012 exhibition was held at MMRDA Grounds from 1st – 4th November, 2012.

About the projects that were showcased at the event, Mr. Percy Chowdhry, Director, Rustomjee said: “The MCHI Expo brings developers from across MMR and home loan institutions under one roof and enriches the house hunting experience of prospective home buyers with a variety of such alternatives.

The Expo not only showcases projects across MMR, but also ensures clarity and transparency in terms of sanctions and approvals of these projects. All this reduces the time taken for a home buying decision from over six months to one or two days.

DNA Property: ‘MCHI-CREDAI hai to bharosa hai’

Boman Rustom Irani, CMD Rustomjee and Secretary MCHI – CREDAI, explains why this year’s property 2012 exhibition is a definitive home-buyer destination.

MCHI CREDAI works towards ensuring peace of mind through having all it members sign a code of conduct to follow the best practices thereby assuring the buyer of transparency in transactions. In this exhibition all properties that are sold would have the necessary approvals that are required.

DNA’s Realty Gen-Next Coffee Table Book features Mr. Boman Rustom Irani, CMD, Rustomjee

DNA’s Realty Gen-Next is a coffee table book on the city’s real estate industry and key luminaries who have shaped the real estate sector.

In ‘The man who stands apart’ the CTB features Mr. Boman Rustom Irani, CMD, Rustomjee, who takes us through his journey of being a first-generation real estate developer and entrepreneur who has led every step that Rustomjee has taken to become a name to be reckoned with.

Here’s a look into the highlights of Mr. Boman Rustom Irani’s journey in the Indian Real Estate industry – who was among the first to focus on the living experience, realizing the importance of cool lighting & thoughtful design.

How to make your home Children Friendly

– Design Ideas to make your home Children Friendly –

Have you ever knelt down and looked around your home through the eyes of your child? You might discover the biggest threats to your children’s safety and well-being — in their own home. We may be surprised at how many things suddenly pose a threat to their safety. Be the sharp edges of the furniture, bare electrical wires and sockets within the easy reach of little fingers, and toxic chemicals or medicines that could be mistaken for tasty drinks.

Though following simple precautionary measures like having stable and balanced furniture for toddler’s to lean on, installing grills on the balconies, fully covered sockets, or simply lowering or raising the kitchen counters would definitely reduce the risks and dangers that a child might encounter at home, simple design ideas as appended would help in shifting the perception of the house from a “adult house” to a Kid’s den. Experts say there are many benefits to an environment where children are welcome, there is the likelihood that the child who is free to explore in his home will become more alert, self-sufficient, and content to play alone than a one confined to an adult house.

For families building a new home or remodeling an older home, there are a number of ways the new design can be made child friendly, but for those who are not looking for a new home or renovation; making few adjustments to the design element of your home can make the home comfortable for the youngest member of the family. Some of the design elements of a Child Friendly home are as below:

Anti skid tiles

The flooring needs to have a good grip for kids to walk on, run or move around safely in the house. Use of anti skid tiles can reduce the risk and dangers of slips and falls and the resultant potential of a kid’s injury.

Shock Proof Switches

Advanced sockets have built-in automatic shutters to stop children sticking their fingers or other objects into them. Using shock proof switches/ sockets in all electrical outlets and sockets will prevent the risk of any electrical hazard in the house.

Low height basins/ Adjustable Sinks

Use of adjustable basins and sinks to a kid’s height would help the parent from accompanying the kid every time to wash his/her hands or face or put their plates to wash in the kitchen sink.

Small Fittings

You will probably want to add small fixtures to make it easier for your child go get independence in the bathroom if they have small fittings to use. So the bath, sink and toilet should be something that will be suitable to their own size.

Traffic free zones – Do make space for kids

Children love to play and roam in open areas or spaces. With the increasing transformation of playgrounds to parking spaces, carving out areas at the podium level and declaring it to be traffic free would let the children roam, play or do the things they enjoy in the area be it cycling or playing indoor cricket on a heavy downpour day, or allowing the junior gymnast to practice his/her cartwheels, the traffic free zone can be the preferred and safe area in the premise.

No sharp edges- Rounded corners

Many a times sharp corners have injured kids moving in the house. Though use of special foam rubber bumpers on such edges can avoid injuries, making the corners rounded certainly is an innovation that can be adapted while designing a child friendly home.

Anti Fungal Paints

Paints play a very important role in creating the look and feel of the house. Use of anti fungal paints increases the duration of a paint life as the anti-fungal paints contain toxic compounds, which kill any fungi attempting to feed from it and are also low on VOC emissions. Use of the paint in exterior also helps in controlling the temperature and cooling the interiors of a house.

Baby Proofing Kitchen

Kitchen obviously is the heart of a home and also the area where you have to be extra careful. Aside from teaching them about kitchen safety and danger points, a regular check of the smoke alarm and extinguisher to hand is very essential. Not just using high storage cabinets to store hazardous chemicals, applying locks on appliances and cabinets also help. Always make sure that all sharp objects are kept away from children’s reach.

Child Sensor in Lifts

Contemporary glass elevators are synonymous with modern architecture and innovative design. Use of elevators with sensors placed at the bottom of every lift will ensure that it   senses the presence of a child and hence the doors of the lift will be prevented from closing in onto kids and causing then serious injuries.

Safety measures in swimming pool

While kids are the happiest when they get water to splash and having a kiddies pool definitely adds on to their joy but it is important to ensure the height of a kiddies pool is correct. A play pool can be 1.5 feet to 2 feet deep and for a higher age group can touch a depth of 4 feet or 5 feet.

Over & above all this, there are Cricket Pitches, Tennis Courts, Giant Sized Chess Boards designed to bring out the best sporting spirits. The kids Playgrounds have been thoughtfully installed consisting of sit on soft, child-friendly surfaces that includes slides, Jungle Gyms, See-saws etc.

Article authored by Mr. Percy S Chowdhry, Director, Rustomjee

(Rustomjee pioneers the concept of creating Children Friendly homes in Mumbai)

Times Property – Some relief

The interim decision taken by the Supreme Court on the extension of the deadline for paying the VAT by two months, provides breathing space for developers & buyers alike. Prominent developers including Rustomjee believe that the move has come at a crucial time when customers are already reeling under various pressures.

 

Times property – Just one solution

Mr. Boman Rustom Irani, CMD, Rustomjee, talks about the relief that a single window policy can bring to home buyers in ‘Just one solution’ on Times Property.

He emphasizes that introducing a single -window policy and cutting the approval timelines can immensely boost the housing stock.

Times Property – Auspicious Times

Mr. Percy Chowdhry, Director, Rustomjee, shares his views on exciting projects that are on offer during the festive season, making it the right time for buyers to invest in their much-aspired home. He believes that with Ganeshotsav beginning during the festive season, it is not only considered an auspicious period for buying, but there are also various incentives and discounts offered by developers that make the buying process much more lucrative.