Royal Palms to develop 2 mn sq feet property at Goregaon

Royal Palms Estates plans to develop 2 million square feet space for residential properties as well as commercial properties at Goregaon in Mumbai. They have decided to offer 30-50 per cent discount on them during the mega property expo.

We are developing the 240 acre Royal Palms Estates at Goregaon East in Mumbai. We plans to develop 2 million square feet space for residential as well as commercial premises, Royal Palms Estates Joint Managing Director, Dilawar Nensey said here. The group has launched a sale of ready possession and under-construction residential and commercial premises during a monsoon carnival called "Annual Monsoon Sale" from July 9 to 24. With interest rates on housing loans once again on an upswing and real estate prices showing no signs of coming down (although they seem to have stabilised) the property in mumbai buyer's options are getting more and more restricted.

Getting a property within a particular budget - within the city limits - has now become more challenging as the buyer has to account for much higher monthly instalments on housing loans. However, property hunters have an economical option in the form of "Annual Monsoon Sale" a mega property expo at Royal Palms Estates in Goregaon. During this expo, residential as well as commercial properties - ready possession as well as under-construction - would be offered at affordable rates. Residential space is being sold for Rs 5,999 per sq ft as against the prevailing rate of Rs 8,000 to Rs 10,000 psf in Goregaon east. Offices are offered at Rs 4,599 psf with an option of guaranteed returns of 18 per cent per annum for 2 years to those buyers who lease-back their units through Royal Palms, Nensey said.

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