Hi guys,

How would you rate Chembur as suburb for residential purposes? Also in about 5-7 years, I am hoping to get easy liquidity for this property as well (hopefully at a profit)

I hear some negative rumours about crime, pollution (Chemical factory?) and traffic congestion (Which is all over Mumbai).

Can you advise if Chembur is a good investment as well as a ok suburb to stay?

Thanks,
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  • There are certain areas that are close to RCF.. actually pollution is everywhere.. and the fact that you can see from your house say near sindhi colony .. maybe makes you more nervous..

    Otherwise preferably areas around Diamond garden, RK studios, .. are quite nice..
    If you stay there, hopefully you don't work anywhere in western suburbs.. like Andheri or Goregaon.. otherwise you can spend considerable time in cars, autos or buses .. much better connectivity to Navi Mumbai..

    As far as I know.. prices are obnoxious there.. too
    Tilak Nagar is a new area .. no good builders (most of them having links with Chota Rajan types).. Govandi/Deonar are full of slums.. and there are some good builders (no value for money)

    Waiting for the stupid rrelic .. salt collectors act to go.. Will help areas like Chedda nagar grow.. Areas around Mahul will always be full of trucks because of the HPCL, BPCL refineries..
    Thats a snap shot of Chembur..

    Otherwise it is like any other place in Mumbai.. filthy, polluted, crowded and f**#& expensive:bab (3):


    Originally Posted by Manoj420
    Hi guys,

    How would you rate Chembur as suburb for residential purposes? Also in about 5-7 years, I am hoping to get easy liquidity for this property as well (hopefully at a profit)

    I hear some negative rumours about crime, pollution (Chemical factory?) and traffic congestion (Which is all over Mumbai).

    Can you advise if Chembur is a good investment as well as a ok suburb to stay?

    Thanks,
    CommentQuote
  • hmm.. thanks SharpJ! I am now contemplating 3 areas namely; Chembur, Andheri, or Navi Mumbai (Vashi, Sanpada,PalmBeach).

    Trying to balance a few factors is difficult;i.e. Space, Price, future saleability.
    CommentQuote
  • I would not make any speculative buying now.. based on what will happen on a future event...
    All these prices have run up based on India's growth story spin.. so what is the reality and what is the story.. no one knows..
    Buy what you can afford and what is convenient ... all the rest is a matter of chance..

    Originally Posted by Manoj420
    hmm.. thanks SharpJ! I am now contemplating 3 areas namely; Chembur, Andheri, or Navi Mumbai (Vashi, Sanpada,PalmBeach).

    Trying to balance a few factors is difficult;i.e. Space, Price, future saleability.
    CommentQuote
  • Prices are rising based on money supply. black/white doesn't matter. Cutoff the oxygen and watch the fish die. if RBI believes housing is speculative, they can easily raise interest rates to 15%, immediaely the builders will cut prices and get rid of inventory. Unless investors liquidate positions thinking that the upside is over, or they see downside ahead prices will not see big drops. I am patiently waiting to buy in mumbai suburbs but unable to commit as I don't have the required cash. I am sure there are atleast 1% of Mumbai's population waiting for a 25% price drop.
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  • Originally Posted by Sharpj
    All these prices have run up based on India's growth story spin.. so what is the reality and what is the story.. no one knows..



    I have little hopes of prices coming down. Unlike earlier trends, when prices use to be high because of a bubble, this time the prices have increased because of FDI money. Since 2005 the prices, on long term basis, have only gone in one direction-north. The foreign investors who want exposure to real estate will invest in India, simply because the indian real estate market has much more potential then their own real estate market. demographics and urban migration make Indian metros a very lucrative investment choice. The pecular beaurocracy of the country compels these investors to partner with the local dvelopers....resulting in billions of dollars of funds to developers who do not mind holding on to their vacant plots in difficult times.

    events like recession panic, election etc could help prices soften, say ~10-15%, but in the long term, prices in mumbai will go on increasing
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  • Overpriced and Unaffordable
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  • Originally Posted by rameshyahoo
    there are atleast 1% of Mumbai's population waiting for a 25% price drop.

    make that 1.00001

    I was in JVLR and in new launch offer they were offering me a rate of 12000, possession is after 3.5 to 4 years, now can a normal person with normal mind will invest in 15-20 percent down payment i.e. 30 or 40 peti at one go? that sum will get doubled anyways in 4 yrs timeframe putting it in market.
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  • sagii, what was the new launch at JVLR?

    (Joy Valencia and Oberoi Splendour were the last two developments here.. any new project coming up?)
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  • oberoi..phase 2 started few months back akruti sapphire and new db/bhosale amrohi studio projects should be coming up soon
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  • Early indications are builders are back in fray and will start jacking up prices soon. Unless something catastrophic happens expect them to jack prices further post Navratra. Most of them are hoping for an early election as well.

    Mumbai will always go up a 10%-15% drop is likely by anything more the builders will hold on to their inventory.

    The 2-3 year lag is not due to construction but using it as hedge for upturn to begin. Builders mentality is heads they win, tails they win.

    As for Chembur polluted and overcrowded !! Aye dil hai mushkil jeena yahan
    Zara hat ke zara bach ke, yeh hai Bombay meri jaan !!
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  • Originally Posted by humble_guy
    sagii, what was the new launch at JVLR?

    (Joy Valencia and Oberoi Splendour were the last two developments here.. any new project coming up?)

    Yes Ackruti it is.
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