Luxury Apartments in Mumbai

Godrej properties and Akshaya Sthapatya (ASPL) have entered into a joint venture to develop a 1.1 million square ft. residential project at Worli, Mumbai along with prominent real estate developers such as Satellite Group, Dynamix Group, and Aniline that happen to be the key shareholders of ASPL. As per the new agreement, through Dynamix and Satellite, ASPL will undertake the rehabilitation part of the project, located next to the National Sports Club of India (NSCI) and the Godrej Group will execute the free-scale component of the project. The sea view project is the first such deal in the country since the outbreak of the COVID-19 pandemic which resulted in a disruption of the work and demand in the real estate sector. The real estate sector has been one of the major industries to be impacted by the coronavirus, resulting in the fall of interest rates, commercial and residential prices, and a halt on the sites under construction. Although the negative implications of the pande...

The outbreak of the novel coronavirus in January 2020 has resulted in a halt to life as we knew it. From nationwide lockdowns to economies crumbling down, all sections of society and industries have been severely hit. The real estate industry is no exception to this. A fall in the property prices, lack of consumers and a pause on the construction projects ensued a downfall of the real estate industry in the past two months. However, the scenario is not as grave as it seems. According to studies, it is predicted that the lower rates of properties and a fall in the decrease in the interest rates on loans, will lead to more people investing in properties as we move away from the pandemic. Top builders in Mumbai are witnessing a rise in the interest shown by prospective buyers. Cementing this report is the first construction deal in the country since the COVID-19 lockdown: a joint venture between Godrej Properties and Akshaya Sthapatya (ASPL). The project involves developing over 1...