Chembur, one of the largest suburbs in eastern Mumbai, is emerging as one of the prime residential destinations in the city of Mumbai. Over the last 10 years, Chembur has changed the skyline of the central suburbs with better infrastructure and a much-improved lifestyle for all who reside within its locality and to all who wish to reside at our Alta Vista homes.

Talking about its infrastructure, Chembur is well connected to its neighbourhood like Thane and Navi Mumbai. Its close proximity to Santacruz Chembur Link Road, Eastern Express Highway and Western Express Highway makes the commute easier for people who work almost anywhere in and around Mumbai. It is also connected with the major commercial zones like the Central zone, Western zone, the island city zone and Navi Mumbai zone, providing employment which, in turn, seeds the residential market in Chembur. Mass rapid connectivity is provided by the suburban rail network that connects it with the CBD(Central Business District) locations of Fort and Nariman Point through Mumbai CST. Domestic and international airports are a 15-minute drive away from Chembur. With the highway connecting Chembur to South Mumbai, one can reach South Mumbai in a span of just fifteen minutes from Chembur.

Dayanand Saraswati Marg, V. N. Purav Marg, R C Marg, Station Avenue Road, the Eastern Express Highway and Sion Panvel Highway are among the arterial roads of Chembur. Chembur is a road transit point for people travelling to Pune using the Mumbai-Pune Highway or the Mumbai-Pune Expressway. The Eastern Freeway provides quick access to South Mumbai through the 13-km-long elevated expressway. The Santacruz Chembur Link Road (SCLR) connects Chembur to Santacruz.

The Chembur Market area, close to the Chembur railway station, offers goods and services, ranging from clothing, foods and vegetables. In addition, it has retail and factory outlets, multi-product stores and a shopping mall within its boundaries. Chembur offers a variety of food from street food to high-end restaurants. Chembur is known for its misal pav, pav bhaji, vada pav and also its sweet marts. It is the greenest and the fastest growing centre of Mumbai and has witnessed large-scale development in the residential sector over the past few years. The social infrastructure is very well developed with multiple malls, restaurants, a golf course, hospitals, schools, etc. In addition, prominent commercial zones of BKC and Lower Parel are located within a close distance of 12 km from Chembur, which is further attracting people to this part of Mumbai. Proximity to localities like Sion and Dadar is the major trigger factors for its growth, in this locality.

Chembur is also known as “Ground city” because it has many public spaces like Gandhi Maidan, Annabhau Sathe Garden, Diamond Garden, Ambedkar Udyan, Sandu Garden, Tilak Nagar grounds and Jawahar Grounds where people conduct and participate in sports events and activities. Taking into consideration all of the above aspects about Chembur, it seems to provide one with all the basic necessities. Adding a lot more to the place is the evergreen atmosphere that establishes it as a dream destination for new home buyers.

Every individual at some point of their life aspires to own a house. Buying a home is one of the crucial financial decisions most people make in their life. Property is an asset that helps you reap numerous financial gains.

A home loan is the best form of financial assistance if you are short on cash, or are not in favour of liquidating your savings. With easy instalments and the option to choose the repayment tenure as per your convenience, banks help make your dream of purchasing a home a reality. But, before you begin applying for a home loan, here are some tips you should keep in mind:

Check your credit score
The credit score is one of the most important and essential factors which banks consider before providing any loan to its customers. So, anybody who desires to avail a home loan should maintain a good credit score as it is a primary requirement to apply for any kind of loan within the banking sector. So, it is essential to have a CIBIL score of more than 750 to be able to avail a home loan and earn better interest rates on your home loan. Maintaining a good credit score is not very tough and can be done by making timely payments for your credit cards and existing loans without fail.

Negotiate the interest rate
Whichever option you choose, do not forget that you can always negotiate on the interest rates. Though the bank would always have an upper hand at it, you can claim as well, especially if you are a privileged customer having a long relationship with the bank. If one has a clear record in their credit history for payments done on time, they can use it to negotiate the loan amount and the rate. Every bank wants good business and a high credit score gives you the power to bargain. Also, try to buy the loan at the end of the month. Banks have their monthly targets and may be more flexible as they do not wish to lose business.

Types of interest rate
Every individual should check and consider the home loan interest rate of several banks. Anyone who wants to avail home loan should compare different lenders for the lowest interest rates that are available.

Before that, one should be aware of the different types of interest rates that are available. There are two types of interest rates – floating interest rate and fixed interest rate. The fixed home loan interest rate EMIs don’t vary over the home loan tenure. But, under floating rate, the interest rate is calculated based on the MCLR(Marginal Cost of funds based Lending Rate) and changes over time which proves to be beneficial as interest rates are expected to fall in future. one should always prefer a floating rate of interest over a fixed interest rate as the monthly EMIs would be higher if you opt for fixed interest rates, even if the fixed rate comes with an engaging offer. Fixed rate of interest comes with a fixed liability and also with a foreclosure penalty. The floating rate of interest varies from time to time and can help one save money on their interest, other expenses and their monthly EMIs.

Shop around
There are thousands of banks that offer home loans at impressive interest rates. Before buying a home loan, get online and compare the interest rates and charge structures of all available home loans. Comparing would let you choose a loan which not only has the most reasonable interest rate but also limited fees and bound charges.

Check your eligibility criteria
Home loan lenders have a list of eligibility criterion and only if one happens to meet those, they are considered a potential borrower. Banks typically look at the credit history to understand an individual’s repayment habits and prefer a credit score of 750 for lending out. Your age, income, occupation, collateral security, margin requirements, etc., also play an important factor when it comes to determining the interest on the loan.

Keeping the above-mentioned tips in mind before availing a home loan is important to avail the right kind of home loan product for your need.

Matunga is a locality situated in the heart of Mumbai. Located strategically in the South-Central part of the city, Matunga is now gaining its foothold in the real estate market. Real estate in Matunga has been flourishing over time to offer apartments that reflect all the necessary qualities that one looks for in their dream home. Among Matunga’s well known real estate projects, Spenta’s Ocean Blue stands to be the perfect abode for the ones looking for a home that satisfies all their needs. There are abundant reasons why it makes sense to invest in a property in Matunga; here are a few of them:

Taking into consideration Matunga’s connectivity, it has its own railway station that comes under both of Mumbai's Central and Western lines, connecting it to the rest of Mumbai. There is a good network of roads that run through the eastern and western parts of this suburb. Commuting to the localities of South Mumbai is also convenient from the location.

Talking about its sports culture, Matunga is known to produce multiple sportspeople who have represented Mumbai and even our country, India. Matunga Gymkhana and the associated ground is a home for budding young cricketers. Similarly, the Gymkhana has also facilities for Tennis, Squash, Swimming and Badminton. The Indian Gymkhana in Matunga is a preferred venue for Cricket and Basketball training. Don Bosco High School has multiple facilities for Football, Cricket and for Basketball.

Coming to the eateries present in the locality, a few of the famous ones include Hotel Ram Ashray, Cafe Madras, Cafe Mysore, Mani's, Udipi Shri Krishna Boarding, DP's, Ganga Vihar, Idli House, Garnish, Sharda Bhavan, Anand Bhavan and Shree Sunder. Although most restaurants serve vegetarian, there are quite a few restaurants that also serve non-vegetarian food, including Koolar & Co., Cafe Gulshan, Durga Bar & Restaurant, Trilok Family Restaurant & Bar and Rasna Punjab hotel.

The distance to the business districts of Nariman Point, the financial hub of BKC (Bandra Kurla Complex) and the cultural centre of Colaba from Matunga are all at an equal distance. This can be a great boon to help strike the perfect balance between work and life.

Your children are assured of the best education that money can provide with the best institutions like the Salesian Run School and Don Bosco High School. The reputed Khalsa College is located here and has produced luminaries in many fields. Post-graduation options are provided by the WE school for MBA as well as the Veer Jijamata Technical Institute for Chemical Engineering.

Staying connected to our roots is what Matunga offers to all who reside there. It has numerous temples, namely, the Astika Samajam, the South Indian Bhajan Samaj, Sri Sankara Matham, Sri Kanyaka Parmeshwari Temple, The Church of Mary Help of Christians, the Jain temples in Kings Circle and the Marubai Temple. There is also a Mosque which is an important place of worship for members of the Muslim community. Matunga houses multiple cultural centres, namely, the Mysore Association, the Gujarati Seva Mandal and the Karnataka Sangh. The Shanmukhananda Auditorium, a cultural centre, lies on the border of Matunga and Sion. Ganesh Chaturthi is celebrated on a large scale in Matunga, with multiple Ganesh pandals that are beautifully decorated during the 10-day festival.

Looking into what Matunga has to offer for all who wish to reside there, it stands as the right place to find all the quality home buyers take into consideration before buying a home.

Thane is an uptown locality situated in the Mumbai suburbs. Enticing it to be the most liveable environment in the city, it is part of a real estate revolution that is resulting in a win-win situation for all stakeholders. Thane provides the best housing needs as it caters to both luxury and affordable home sectors within its premises.

Talking in terms of its connectivity, Thane has a well-developed social and civic infrastructure. Being located at the centre, smooth connectivity to major parts of Mumbai is guaranteed. NH-3 and NH-4 are the two most important national highways that pass through Thane. Efficient road transportation network within the locality of Thane allows easy commuting for the residents. The trans-harbour and central line suburban railway network provides efficient railway service to this region. Moreover, Mumbai's international airport is just 27 kilometres away.

Well known as the City of Lakes, there are a number of attractive locations in Thane West which add value to its real estate market. Thane offers a view of the Ulhas River, Kavesar Lake and Yeoor hills. Its proximity to commercial, educational, health care and entertainment avenues is something to talk about, with renowned schools, colleges and hospitals located within a moment’s notice. Sanjay Gandhi Park, Kanheri Caves, Masunda Lake and beaches are some of the well-known places in and around Thane. Among the numerous lakes that dot the city, some of the popular ones like the Masunda Talao (Talao Pali), Upvan Lake, Kachrali Talao and the Panch Pakhadi Talao make for scenic evening outings with play areas for kids. Adding to this, there are many legendary food outlets and restaurants that make Thane a foodie’s paradise.

Thane is culturally very rich and promotes a lot of performing arts through various art and culture venues like Gadkari Rangayatan, Kashinath Ghanekar Natyagriha and Thane Kala Bhavan, resulting in a lot of Marathi TV & theatre artists settling here. Festivals like Dahi Handi, Navratri & Ganesh Chaturthi have been celebrated with great fervour for many decades.

The city also provides a place for the best cycling & running tracks. There are many small and big running events in Thane as compared to Mumbai. There is an amazing amount of people who have taken to running & cycling in the city as of late. Every long-distance train on the Central and Konkan Railway route halts here. This is a boon to all who travel often. Going to Goa, Nashik or Pune is much better from Thane as it saves you at least an hour as compared to travelling from Mumbai.

Thane houses a good number of malls and shopping areas in its area. It has some of the best multinational brands of food, clothing, etc. as well. If mall shopping isn't your thing, you're still covered well! Street shopping stalls and various boutiques are located at Gokhale Road. Upcoming projects like the metro route connecting Mumbai with Thane are aiming to provide better connectivity. The Thane-Bhiwandi-Kalyan route would join the Metro Line 4 that would run between Wadala-Thane-Kasarvadavali and Metro Line 11 connecting Taloja in Navi Mumbai to Kalyan in Thane.

All of these aspects of Thane will not only stimulate more development in the region but will also attract many people. Consequently, this would help establish Thane as a hotspot, making it the most preferred location.

The RERA (Real Estate Regulation and Development Act, 2016 aims at protecting home buyers. The RERA entrusts power in the hands of customers by assisting them in making informed decisions, seek solutions and get the required compensation for any wrong meted out to them by the sellers. Along with making builders accountable for delivery timelines, the Act also offers the following benefits to the homebuyers:

Equal carpet area Previously the carpet area on which the builders would calculate the price of the area was not defined. Every developer had his own way of calculating the carpet area. There would different carpet areas for the same plot. And the reason for this was that there was no particular way of calculating the carpet area until the RERA clearly decided on how the carpet area needs to be calculated. Its calculated on the basis of the definition that the carpet area means the net usable floor area of an apartment, excluding the area covered by the external walls, areas that come under service shafts, exclusive balcony or verandah area and exclusive open terrace space, but includes the area covered by the internal partition walls of an apartment.

Builders will be liable for any defect in the structure The quality of the construction has been a concern for many home buyers. Under the RERA, any structural defect that takes place to the property for up to five years from the date of handing over possession will have to be corrected by the developer. It shall be the responsibility of the promoter to improve such defects within 30 days without further charge.

Grievances to be solved quickly
Under the RERA, regulatory bodies and appellate courts will be set up in each state to solve builder and buyer disputes. Any person aggrieved by any direction can expect a verdict from the appellate within 120 days.

A higher level of transparency
RERA has made it mandatory for developers to register all real estate projects with the regulator, irrespective of whether the project is residential or if it is a commercial project. Builders are now permitted to give you detailed information about the status of the project at every step and you can lodge a complaint against them if they fail to abide by the timeline or falsify details. The Act has also streamlined the process further and now developers cannot attempt a change in the construction structure until the same has been consented to by at least two-thirds of the homebuyers. This protects you against facing any kind of structural changes or modifications towards the property you have booked. To conclude, it is mandatory for all builders and agents to register with the RA (Regulatory Authority) after its establishment. Therefore, make sure you buy a project which is registered with the regulatory authority!