Chembur – From an industrial zone to residential locality

Spenta_blog_Feb-1Talk about the Eastern corridor of Mumbai, and Chembur’s growth emerges as one of the most impressive of all time. Reduced commute hassles, a peaceful environment, and an unbeatable blend of commercial and residential enterprises make it irresistible for builders and investors alike. However, as much as it makes for a profitable investment in today’s times, the location wasn’t as desirable as it is now.

With a history of having hosted refugees after independence and following partition, Chembur owes its gradual development as a sound residential area to the industrialisation of Trombay during the war. Furthermore, the construction by the Bombay Housing Board in Station Colony (Subhash Nagar), the Shell Colony (Sahakar Nagar), and the Township Colony (Tilak Nagar) in 1955 through to 1958 transformed the picture of Chembur from an impressive industrial hotspot to a residential utopia.

Today, housed in Chembur is a fleet of residential colonies such as BPCL Colony, Tata Colony, HPCL Colony, and Indian Oil Nagar, among many others. Moreover, numerous large-scale real estate developers have taken to the suburb to offer high-rise residential developments, independent houses, and plenty of contemporary open spaces, thereby, making it an unbeatable residential haven.…

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How Big Data is changing India’s real estate

How Big Data is changing India’s real estate

The face of real estate is changing, all thanks to the advances in technology. Today, the top real estate builders and developers in Mumbai as well as other prominent cities in the country no longer rely on skilled manpower for cost-saving and expanding business opportunities. Technology has shown us, time and again, that it’s capable of replacing traditional methods of business, and accelerate growth in businesses that have been struggling to keep up with the changing times.

Over the past few years, the world of real estate has embraced a new kid on the block called “Big Data”. An extensive network of data sets, Big Data is capable of recognising and over-viewing actionable trends, patterns and associations, based on which, a company can take significant business decisions. The details provided by this network can help your company stay on top of real estate market trends, and make changes according to what’s hot.

What follows below is an account of all the ways you, as a construction company in Mumbai, can bring this exceptional mode of technology, to your advantage:

1: Determining the value of your property

With the sheer number of under-construction properties in Mumbai today, it’s becoming more and more challenging to determining the value of your property.…

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What Is Input Tax Credits? How Will It Help Developers & Homebuyers?


The recently implemented Goods and Services Tax (GST) is being hailed for the transformative potential that it holds for many sectors of the Indian economy, including the real estate sector. Input Tax Credit is being recognized as one of the most meritorious components of GST that will offer benefits to both real estate developers and home buyers.

What is Input Tax Credit?
Input Tax Credit is a component of GST that ensures that credits will be accrued upon taxes paid at every stage of production or service delivery. As a result of this, GST becomes a tax that is levied only upon the value addition at every successive stage of production or service delivery.

In what way does Input Tax Credit benefit real estate developers?
Real estate developers have noted that different inputs for construction (a variety of materials) now fall into varying tax slabs. This has greatly streamlined the processes of construction and has helped builders move swiftly to complete projects. Moreover, developers are only required to pay taxes for every value addition of construction.

In what way does Input Tax Credit benefit home buyers?
GST has greatly simplified the process of property purchase, making it very easy for homebuyers to understand the paperwork that goes into it.…

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5 Tips To Prepare Your Home For The Monsoon


The monsoon is hailed as the best time of the year in our part of the world. The cool weather, the lush greens and the clean air make this season particularly enjoyable. So, while we make the most of this wonderful season, it’s also important to ensure that our homes are prepared for the rains.

Here are 5 useful tips to prepare your home for the monsoon:

1. Seal the gaps in the doors and windows: To begin with, identify any gaps in the doors and windows of your house. Make sure that they close properly and plug in any gaps that you find. This will prevent unnecessary damage caused by leakages during the monsoon season.

2. Pack away those expensive carpets: The monsoon season isn’t the best time for your expensive rugs and carpets. Not only are these items at risk of being soiled by dirty footwear, but they can also be prone to mould due to the high levels of humidity.

3. Rearrange the greens: There are some plants that will benefit from being moved indoors in the monsoon season, while it may be best for certain plants to be moved out—especially the ones that might become a breeding ground for mosquitoes in this season.

4. Replace the heavy curtains: The rainy season is always low on sunshine, so you might want to replace your heavy, opaque curtains with more lightweight and sheer ones.…

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How GST will affect your home buying experience

Spenta GST

The Goods & Services Act or GST is an indirect tax that will replace the multi-level taxes levied by the central and state governments. It will apply to all goods and services in different variations. When it comes to real estate, GST will be levied at a rate of 12%. But will GST make home-buying a better experience? Let’s take a look:

16 different taxes – all in one GST

GST will subsume over 16 different taxes like VAT, CST, Central Excise Duty, Luxury tax and many others. This will bring more simplicity to the entire taxation structure.

No more double taxation

Double taxation was one of the biggest pain-points for homebuyers as it paved the way for different state taxes on multiple levels. Thanks to GST, this phenomenon will be removed from the home-buying process altogether, making it smoother.

Ease of doing business

Thanks to the increased clarity in the tax structure, GST will reduce the paperwork and processing time required in transactions.

Tax credits will help reduce home prices

Developers will now be able to claim tax credits on all the essential construction materials like cement, steel, etc. These tax credits will help in the reduction of home prices.

GST will boost foreign investment

The improved and clearer tax structure will provide an impetus to NRI investments.…

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How RERA makes home buying a secure experience

Spenta RERA

The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India that seeks to protect home buyers and boost investor sentiment. The Act brings into place a regulatory body that becomes the watch-dog of India’s real estate industry. Here’s how RERA will make home-buying a secure experience:

Timely Delivery: Timely delivery is one problem most home buyers fear facing. But now the builders will have to deposit 70% of the project funds in dedicated bank accounts to avoid delayed deliveries.

Compensation: In case of delayed deliveries, the customer will now be entitled to a compensation equal to the EMI the buyer is paying to the bank.

Reliability: It will be mandatory for the developers to submit the essential documents and information such as project plan, layout, government approvals, land title status, subcontractors to the project and schedule for completion to the RERA and then pass it on to the consumer. This will ensure that the project adheres to the legal policies.

Transparency: RERA has made it mandatory for the developers to mention the carpet area in every communication. In addition, developers can no more make exaggerated claims.

After-sales service: If there’s any deficiency in the project within one year of possession, the buyer can contact the developer in writing and demand after-sales service.…

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Why wait for the weekends to unwind?


Weekends call for some me-time and peace of mind, and Altavista offers you just that!

Presenting VIVA – a 40,000 sq. ft. clubhouse located right where you live, within the premises of this grand residential property in Chembur, Mumbai. Located atop a hillock, this impressive clubhouse ensures your weekdays feel as relaxing as weekends.

VIVA offers you every conceivable amenity so you never have to step out of your comfort zone:

  • Swimming pool – take a soothing swim or simply lounge by the pool-side
  • Gymnasium – meet and exceed your fitness goals
  • Steam & sauna – let those tired muscles relax
  • Cricket pitch & squash court – have a ball
  • If you’re the kind who loves spending time in the midst of nature, Altavista also offers you the comforts of Avalon – a massive 35,000 sq. ft. terrace garden.

  • Meditation cabanas – a whole new day, a fresh new start
  • Greenery & small water bodies – breath-taking views everyday
  • Jogging track – we care about your health just like you
  • Come home to a haven of peace with natural undulating topography, scenic views and an assortment of soothing activities. Among the many new residential projects in Chembur , Altavista by Spenta and Sabari Group clearly stands out.…

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    Re-defining the Andheri Skyline


    Living in Andheri ensures you’re at the epicentre of a pulsating, upper-crest lifestyle with robust infrastructure and unparalleled connectivity.
    Palazzio takes this vivacious way of life a notch higher with a glamorous collection of beautifully-crafted 1, 1.5, 2 and 3 BHK apartments in Andheri (East) by Spenta and Anchor Group.

    Modern living
    Where Andheri is the undisputed king of contemporary living, Palazzio is the crowning jewel – with exquisite living spaces, select amenities, spectacular features and stunning infrastructure.


    The economic scenario of Andheri has transformed over the years. It has witnessed the rise of several infrastructure projects, leading to an increase in the number of commercial and residential developments.

    With Palazzio setting up base in this neighbourhood, Andheri is slated to see an altered skyline.


    The locale is home to some of the most thoughtfully and aesthetically–crafted developments.

    Brilliantly crafted by celebrated architect Hafeez Contractor Palazzio rises high with its 4 towers of 11 storeys each. Palazzio features spacious and efficiently-planned residences. The high-rise features no more than 5 apartments per floor offering a lifestyle overhaul.…

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    Why real estate is on the revival path in 2017

    The past year may not have been a complete nightmare for real estate but honestly, was nowhere close to a good one either. For instance, post-demonetisation, banks reduced home loan rates to what was the lowest in the last eight years.
    This year, however, things are looking up – real estate seems to be on a revival path.
    In keeping with the Government’s several ongoing reforms, this year’s Union Budget is in favour of middle to lower class consumers and investors. The affordable housing sector has received a huge impetus in the form of the infrastructure status.
    Speaking of infrastructure, the budget has made a record allocation of Rs. 3.96 Lakh Crore on infrastructure development as infrastructure has high potential of boosting real estate.
    The availability of easy finance to developers will see a reduction in cost of construction, which will eventually be passed on to consumers. Not to forget the provision on Joint Development, which is said to ease land prices and benefit consumers.
    While we see residential real estate improving, the commercial segment is not far behind. In fact, it has been performing consistently over the last two years, despite global uncertainties.
    Here are some of the top picks from the Budget that assure improvement in the real estate scenario this year:

    • Affordable Housing being the backbone of the Indian real estate sector, has been given ‘infrastructure’ status
    • The Government intends constructing 1 crore rural houses by 2019
    • Allocation to Pradhan Mantri Awas Yojana has increased from Rs.

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