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FAQ: Are rates given by the developer, reasonable? - Property Hotline
Posted
June 14, 2016
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18
June 14, 2016
18
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3:37Now PlayingBe Un Confused
Expert: Ashutosh Limaye, National Director of Research, JLL
Q: My housing society is located on S. V. Road, Borivali West near the station. It is undergoing redevelopment. The developer is quoting a minimum of Rs 23,000/sq ft for the additional area up to 100 sq ft and above this he is charging Rs 26,000/sq ft. My society members and I fell this rate is too high. The developer plans to provide standard amenities. Is this rate per sq ft high or is it reasonable according?
Answer: The location of the housing society is a prime location with all the basic requirements nearby including the railway station. Nowadays the rates of standard amenities have also gone high. The amenities that were luxury at some time are now basic and standard. The rates are hence reasonable as per the location.
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