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We are specialized and focused professional property intermediaries, dealing in Prabhadevi, Worli, Shivaji Park and Lower Parel. Incidentally, the area where we operate and focus are most happening area today due to central location. Commuting both directions: - South-Nariman Point, Cuffe Parade or North-Bandra Kurla Complex, Airport, Suburb etc. are comfortable. In this areas more and more commercial Complexes and Residential Apartments are coming with all modern amenities and international appeal.
In comparison to South Mumbai or Sea Facing properties at Cuffe Parade or Worli, new complexes are reasonably priced and with more open space, more parking, more amenities etc. The buyer will have wide choice of under construction and ready possession properties. Even in comparison with other areas like Bandra, Prabhadevi is more cultural and cosmopolitan and without any nuisance of traffic congestion by Rickshaw etc. Prabhadevi is future prime area and is considered as an extension of South Mumbai.We have a wide range of Premium Flats, Pent-houses, Duplex etc. both ready possession and under construction. We also deal in commercial properties. Kindly approach is for your any type of requirement in this areas. We are placed in heart of Prabhadevi, near Siddhivinayak Temple on opposite side of Ravindra Natya Mandir. Exactly opposite of Play ground on Ground Floor, main Sayani Road.
Mr. Dilip Panchmatia – B.com, L.L.B., A.C.S., A.C.A., Chartered Accountant and Company Secretary, a professional with an innovative instinct, had a very upbeat career from the word go. His innate analytical and financial acumen on various complex corporate issues like amalgamation, merger, acquisition, takeover and many such other subjects lent him an golden opportunity to rub shoulders with the promoter’s of the mega corporate houses like Reliance, Bajaj, Deepak Fertilizers, etc. After having a dream run in corporate world, he saw bigger opportunity in the real estate industry and to clinch this he joined his wife’s (Mrs. Amee Panchmatia) well established real estate agency. His entry into this otherwise unorganized profession, brought marked changes in the whole approach of rendering services to the customers in property transactions. While he was just finding his moorings in the real estate business, he realized that the various reference books available in the market had a scope of simplification and educating the practical steps involved in Stamp Duty payment and Registration of documents. His earliest penchant for dissecting a complex subject through writing of articles in newspaper, on corporate subjects, urged him again to have a go, this time on a real estate related subject – Stamp duty and Registration. His wife’s practical experience in the real estate business and the contacts with related departments helped him to gain a quick insight on the issues and all efforts in this direction culminated into a book.
Analysis of a Newspaper Report by Mr. Dilip Panchmatia
Letter to the Editor:
To, The Chief Editor, MUMBAI MIRROR, To Shri Vinit Jain, TOI To Chief Editor, TOI
From: CA DILIP PANCHMATIA B. Com, LLB, ACS, ACA Mobile: +91 98200 60644
Re: Malabar rates go downhill: by Viral Shah Ref: MUMBAI MIRROR (Monday November 10, 2008)
This is a classic case of irresponsible journalism, tarnishing hard earned image of Times Group earned over a period of years. Since concern I have analyse how immature journalist can goof up and mislead effecting reputation of the paper. First it is candidly stated that “Real Estate Prices in the posh south Mumbai area have fallen by 50% in the last one year” by further stating that “Hindustan Unilever has two furnished 2BHK flats at Anita Building while last year the price in the area was Rs.90, 000 per sq. ft.; today these 1000 sq. ft. flats are being offended at Rs. 45000 per sq. ft.” Now the price of area is referred and not of the building under reference. It is commonsense that in the same area price vary building to building and even in same building two identical flats may have different pricing.
To my information from the owner of Mini Market in the same Anita Building by name Mr. Prahlad Mohan (whose telephone number got from the photograph of the building given in the report) that people in the same building was expecting selling price of Rs. 50,000 to Rs. 60,000 per sq. ft., but to his knowledge no deal has taken place in the last two years for more than Rs 40,000 per sq. ft. rate.
Now I want to state that last week flat in Prabhadevi sold for Rs. 20,000 per sq. ft. rate and in past within last year in different building near by, in the same area sold for Rs. 40,000 per sq. ft. So is it correct to establish that prices have fallen by 50% in the area!!! When in the same building 2 years back flat were sold around Rs.7000 per sq. ft. rate. So is it correct to establish that prices have increased in 2 years by 300% because it is in the same building?
Again one more startling facts reported in your group’s most reliable paper Economic Times on Sunday dated 05th October 2008 on front page:
“In Mumbai, prices rise 20-25% at Altamount Road, Napean Sea Road, Nariman Point and Churchgate”. ET clearly mention specific arrears and percentage rise in last four month June to Sept 2008 by 20 to 25% in high end residential localities and MM gives general, abrupt, misleading statement that flat prices in posh south Mumbai area have fallen by 50% in the last one year. Shear nonsense!!!
Regarding a statement on Thane that:
I have gathered few facts firstly there is nothing available in the neighborhood of Pride Park, which is surrounded by industries, garbage ground and pollution, at Rs. 3,200 per sq. ft. Secondly, next to Pride Park there is Hiranadani Meadows and Surya Apartments and rates there are more than Rs. 5,500 per sq. ft. rate. Thirdly, even in Hide Park itself flats are not available for less then Rs. 4,000 per sq. ft. rate. Even today Ghodbunder Road is favoured destination because lots of commercial developments taking place, IT Parks are coming up and the Four track road is becoming Six track road and BEST Buses have already started operating. New Metro Rail is also coming within 1Km of this place.
Also it is reported by referring the statement of one Mr. Dalal that:
Now as I know Mr. Dalal do not own single flat at BeauMonde neither he has sold single flat. Since, initially when it was started around Rs, 7,000 per sq. ft. rate. If somebody want to buy at Rs. 20,000 per sq. ft. rate or so, how it become standard market rate unless somebody sell at that particular price. For facts, last week only document in the same building has been registered at the rate of Rs. 45,000 per sq. ft. which can be verifiable from the registrar’s record, since it is a public document once registered.
Even initially when it was started for sale at Rs. 7,000 per sq. ft. there were buyers of entire building at Rs. 5,000 per sq. ft. rate!!
In any type of economic scenario price always goes with demand and supply. Though currently demand is suppress, particularly effected by this type of report. When no new supply/resale is going to come, particularly in case of this type of rare, limited edition, super luxurious, ultra modern prestigious complex.
Actually in case of this type of product as market gets more and more knowledge about it (it is 10 times better product than any of south Mumbai apartments). Price is going to go up, up and up only, simply because no new supply going to come and currently it is available at one third price of so called prestigious old buildings of South Mumbai. Mark my word’s it would be doubled by next year and whatever may be the economic scenario globally and in India even after new government.
Yours Sincerely, Dilip Panchmatia |