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Business Standard
3 days ago
- Business
- Business Standard
Paradigm Realty launches one of a kind luxury offering 'The Marquis Collection - a finely curated experiential living' eyeing a GDV of INR 3500 Crore
VMPL Mumbai (Maharashtra) [India], July 25: As a first mover in Mumbai's vibrant real estate ecosystem, Paradigm Realty is setting new standards in luxury living with their Marquis collection. These developments bring together the foundational tenets of coveted neighbourhoods, exquisite design, world-class craftsmanship and spacious layouts to offer comprehensive lifestyle upgrades to discerning homebuyers. The Marquis collection comprises of standalone ultra-luxury developments. The Marquis collection comprise of both standalone Green Acres in Pali Hill (Bandra),Superstar in Carter Road (Bandra), Prabhadevi and a collection in Kandivali and Borivali ,which will be contributing to a cumulative topline of INR 3,500 crore. Marquis by Paradigm Realty will truly resonate with global Luxury connoisseurs as the vision goes beyond functional is all about crafting an experience that is thoughtfully designed ,intuitively luxurious and ahead of current and forthcoming times. Inspired by CMD Parthh K Mehta's travels around the world, during observed and experienced some of the finest luxury developments, the Marquis collection brings to Mumbai a redefined sense of luxury. In Mehta's words, the developments go beyond what can be perceived visually and deliver an immersive sensory experience. And so, the Marquis brand brings together the very best of design and luxury, with dream homes that are state-of-the-art, timeless and a cut above the rest in terms of their aesthetics. Commenting on the Marquis collection, Mehta explained, "The Marquis collection was created with the vision of transforming how luxury is defined and perceived in terms of Mumbai's real estate. Homebuyers in the city are now more sophisticated and discerning than ever before. They want spaces that are at par with the luxuriance and finesse they may have experienced during their travels or stays abroad. They don't just want homes; they desire for lifestyles that are an extension of their interests and their aspirations. They are seeking rarefied luxury, exclusivity and a heightened living experience that is at par or exceeds the best in the world. And, with our hand constantly on the pulse of Mumbai's market, we have been the first to respond with a one-of-a-kind showcase." About Paradigm Realty - Paradigm Realty is a prominent player in the Mumbai Metropolitan Region's suburban real estate market. The company has etched a great track-record over the last 9 + years of its operation and has established a reputation for timely delivery, superlative space planning and fine craftsmanship with its cutting-edge projects at competitive affordability. These projects showcase design efficiency, pragmatic functionality and elegance while safeguarding the environment, mainly prioritising Wishlist of its stakeholders i.e. need of home seekers and drives sustainability for every member. Under leadership of CMD Parthh K. Mehta's, Paradigm Realty has risen to ranks of being a reputable brand, catering to 3000+ happy families with a team stand of more than 275 members, demonstrating an impressive capability to execute approx.
Time of India
30-06-2025
- Business
- Time of India
Sustained demand, infra revamp drive Mumbai property market to best-ever H1
Mumbai, the country's largest and most expensive property market, has recorded its strongest half-yearly performance ever led by sustained homebuyers' demand, lower home loan rates aided by the recent interest rate reduction, and the city's ongoing infrastructure and connectivity upgrade. The momentum has sustained despite steady growth in property prices and hike in ready reckoner (RR) rates from the beginning of the new financial year. The country's financial capital registered over 75,933 property deals in the first half of 2025, up 5% year-on-year, with the state exchequer fetching Rs 6,727 crore in stamp duty, a 15% rise and the strongest half-yearly performance on both counts, showed data from the Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mechanics Say: Fix That Windshield Crack Before It's Too Late Nexa 'Mumbai's residential market continues to reflect steady buyer confidence, as monthly registrations consistently stay above the 11,000-mark year-on-year. What is particularly encouraging is that this sustained demand has led to the city's strongest half-yearly performance. While we have seen some cooling in the mid-price segments, the appetite for larger homes and properties priced above Rs 5 crore remains strong, driving healthy revenue collections,' Shishir Baijal, CMD, Knight Frank India. In June, property registrations and stamp duty collection touched over 11,521 deals and Rs 1,021 crore, respectively. Live Events 'The sales pattern underscores a structural shift in demand, particularly for larger, high-value exclusive homes, as buyers continue to prioritise long-term lifestyle, community living and location choices. This trend is being reinforced by the government's ongoing efforts to upgrade infrastructure across the Mumbai region. These developments are not only enhancing connectivity but also reshaping buyer perceptions of emerging micro-markets,' said Parthh K Mehta, CMD, Paradigm Realty. According to experts, the recent reduction in home loan rates following the Reserve Bank of India's decision to lower Repo rate by 50 basis points, taking the cumulative reduction to 100 basis points in the last six months, is expected to keep the housing sales robust. The government is currently undertaking several infrastructure projects in the region Including the metro network expansion, the coastal road project, or the improvement of arterial connectors and expressways. Apartments up to 1,000 sq ft continued to dominate Mumbai's residential registrations in June, accounting for 84% of all transactions, broadly stable compared to 83% a year ago. Within this, the 500–1,000 sq ft segment remained the most popular, inching up from 44% to 45%. The share of units up to 500 sq ft held steady at 39%. This underscores the enduring preference for compact homes, even as a niche segment of buyers continues to explore more spacious living options. The western and central suburbs continued to anchor Mumbai's residential market, together accounting for 88% of total registrations in June, up slightly from 86% a year ago. The western suburbs alone contributed 57%, while the central suburbs accounted for 31% share.
Hindustan Times
21-06-2025
- Business
- Hindustan Times
Mumbai Real Estate: Developers waive floor-rise premiums to attract buyers amid surging inventory
With housing sales moderating and unsold inventory piling up in the Mumbai real estate market, developers are increasingly adopting aggressive pricing strategies to lure fence-sitters. Mumbai real estate update: With housing sales moderating and unsold inventory piling up in Mumbai, developers are increasingly adopting aggressive pricing strategies to lure fence-sitters. (Picture for representational purposes only)(Mehul R Thakkar/HT) After experimenting with schemes such as 'Buy Now, Pay Later' and subvention plans, some developers are now scrapping the traditional floor-rise premium altogether and offering uniform pricing across all floors. The fierce competition in Mumbai's property market over the past three years has brought back the trend of 'No Floor Rise,' particularly in high-rise projects where supply is abundant. Even Grade A developers, facing intense pressure, have begun eliminating floor-rise charges to stay competitive. As a result, Grade B developers, who previously leveraged floor-rise pricing to boost revenues, are now reversing course, adjusting their marketing strategies in response to the oversupply and expanded choices available to buyers. In contrast, developers in Delhi-NCR continue to charge Preferential Location Charges (PLC) for upper-floor units. Buyers in the region often pay a premium for apartments on higher storeys, especially those offering views of landscaped greens or other desirable surroundings. Also Read: Are Mumbai real estate prices moderating, giving homebuyers more room to negotiate? What is floor rise? Several real estate developers in Mumbai typically charge an additional ₹ 100 to ₹ 500 per sq ft for higher floors, citing advantages such as better views and greater exclusivity. Developers say floor-rise premiums help offset the increased construction costs associated with building higher floors and are likely to remain a standard pricing component. 'Floor-rise charges are a premium that is here to stay, especially in a city like Mumbai. Not only do they help cover the higher construction costs of upper floors, but they also reinforce the status and exclusivity that many buyers associate with elevated living,' said Parthh K Mehta, CMD of Mumbai-based Paradigm Realty. 'However, offering 'No Floor Rise' is an effective promotional tool, attractive for homebuyers,' he said. "The reason this promotional tool has become the new trend of sorts is that it works, both for developers and homebuyers. We have experimented with the 'No Floor Rise' offer in two of our projects in Mumbai at Chembur and Borivali, and we saw a 25% boost in sales for the projects in a month, a noticeably higher impact compared to other recurring promotions," Mehta said. What is the 'Buy Now, Pay Later' scheme? Several Mumbai Metropolitan Region (MMR) developers, including Rustomjee Group, Hiranandani Group, Raymond Realty, Arkade Developers, and Kalpataru, had earlier offered potential homebuyers flexible payment plans, also known as 'Buy Now, Pay Later.' A flexible payment plan allowed potential homebuyers to pay in instalments. Homebuyers paid only 10% or 20% initially, and the rest on possession. This payment plan gained popularity between 2015 and 2019 and was aimed at boosting homebuyer sentiment. However, a few developers in the Mumbai real estate market even permitted homebuyers to move into the apartment after depositing 20% of the cost. The remaining 80% had to be paid in equal instalments over the year from the date of getting possession. Also Read: Mumbai real estate market: Planning to sell a flat in an old building? Here's why it can be tough Is increased competition fuelling the 'No Floor Rise' trend? Developers say that intense competition in Mumbai's real estate market over the past three years has led to a trend of the 'No Floor Rise' pricing strategy. The real estate market in the Mumbai Metropolitan Region (MMR) is extremely dynamic and quite competitive. To stand out from the competition and incentivise prospective homebuyers, developers offer time-bound, strategic deals. Anuj Goradia, director of Dosti Realty, said, 'For our Thane project, we introduced a limited-period 'No Floor Rise' campaign, which significantly boosted sales while still enabling us to maintain overall pricing.' Developers maintain that offers such as 'No Floor Rise' are being made despite strong demand in MMR. "Although the demand for residential real estate in Mumbai is still quite strong, measures such as these can inject vibrancy into a sales cycle, and help certain projects and developers to gain more visibility," Goradia said. Another marketing tactic? According to real estate consultants, the oversupply of high-rise inventory in Mumbai and intense competition, even among Grade A developers, have prompted many to eliminate floor-rise premiums. As a result, Grade B developers, who previously relied on floor-rise charges as a revenue enhancer, are now unable to sustain this pricing in a market flooded with options. In response, they are reversing their marketing strategies and adopting more buyer-friendly pricing models to stay competitive. 'Floor-rise premiums have become rare in Mumbai's Metropolitan Region (MMR) over the past two years, with only a few top-grade developers still able to charge extra for higher floors, and successfully so. However, due to high inventory levels and intense competition, many developers struggle to maintain these premiums. As a result, mid-tier (Grade B) developers, who commanded floor-rise premiums around three years ago before COVID, have largely lost this advantage in today's market,' said Ritesh Mehta, senior director and head (North and West), Residential Services and Developer Initiatives at JLL India. Homebuyers will always pay for the view While the elimination of floor-rise premiums is an emerging trend, developers agree that exceptional views continue to command a premium. In Mumbai's competitive market, apartments on higher floors with breathtaking vistas such as sea views, skyline panoramas, or unobstructed landscapes still attract higher prices compared to mid-level units. 'In a premium market like Bandra in Mumbai, our experience shows that homebuyers are willing to pay a significant premium for higher-floor apartments, especially when these units offer exceptional views such as sea-facing or panoramic sea views. The ability to command a floor-rise premium isn't uniform; it heavily depends on the quality of the view and the overall positioning of the project," said Sharan Babani, promoter of Satguru Builders, which has both sea-view and sea-facing projects in the Bandra area. "In projects where the location and orientation deliver truly outstanding vistas, the value appreciation on higher floors can be substantial. This is something developers and investors must assess carefully on a case-by-case basis," Babani said. Also Read: Mumbai real estate: Is an apartment overlooking the sea more expensive than a sea-view apartment? Read on to find out Mumbai real estate market registration dips Mumbai's real estate market saw property registrations fall by 4% in May 2025, with 11,565 properties registered compared to 12,000 in the same period last year, according to data from the Maharashtra Inspector General of Registration (IGR). However, stamp duty collections increased by 3% in May 2025, totalling ₹ 1,062 crores, compared to the ₹ 1,034 crores collected in May 2024. In terms of month-on-month comparison, April 2025 saw 13,080 properties registered, with stamp duty collections amounting to ₹ 1,115 crore. Residential property registrations continued to dominate in May 2025, accounting for 80% of all registrations in the Mumbai real estate market, according to Knight Frank India, a real estate consultancy firm.
Business Standard
13-05-2025
- Business
- Business Standard
Luxury Reaches New Heights With Crown By Alaya--Soon To Dazzle As The Tallest Tower In Oshiwara
PNN Mumbai (Maharashtra) [India], May 13: Paradigm Realty, having built a reputation of creating unmatched luxury and elevating lifestyles with panache, has yet again set a new benchmark by unveiling Crown of Alaya--premium and prestigious residences in 102 Downtown, Oshiwara. Residing in a home and staying in style are two different things; Paradigm Realty vouches for the latter as a firm believer in Luxury, Comfort and Value for Money. These exclusive homes, perched 350 feet above the vibrant cityscape, offer breathtaking panoramic views that stretch far and wide. With prices starting at Rs 1.18 Crore to Rs 1.74 Crore, the crown will be bejewelled with sophistication, elegance and exclusivity. These residences will be the epitome of vertical luxury, bestowing upon homeowners the exclusive experience of premium living in the heart of Andheri. During an evening that celebrated its vision and collaborations, Paradigm Realty hosted a spectacular event at Grand Blossom, Goregaon West, with more than 500 Channel Partners coming together to mark this monumental launch. The event was filled with an air of anticipation, excitement and energy, as those gathered eagerly awaited the unveiling of these high-rise marvels. The evening began with a registration session led by Paradigm's Parthh K Mehta, known for his torch-bearing vision to transform Mumbai's luxury skyline. He took to the stage to share Paradigm's remarkable journey with the support of channel partners, as well as the illustrious future the group envisions for the next five years, with the channel partners participating as both enablers and changemakers. His words set the tone for the event, highlighting not just the stunning features of the Alaya Sky Deck Residences, but also the vision behind Paradigm Realty's commitment to lifestyle creation, quality living and trust. The event was graced by prominent names in the industry, including Anarock Property Consultant, Square Yards and No Broker, among others. Their response to the Alaya Sky Deck Residences was nothing short of enthusiastic, as the distinctive features -- from the expansive deck spaces to the breathtaking vistas -- left them awestruck. Demonstrating its unwavering commitment to its Channel Partners, Paradigm Realty announced an exclusive never seen before incentive scheme from the first deal, along with a loyalty programme aimed at recognising and rewarding long-term collaborations. These incentives underscore the company's desire to cultivate strong, lasting relationships with its partners, ensuring mutual growth and success. With their unmatched positioning and limited availability, the Alaya Sky Deck Residences are already receiving significant attention. The strategic location of these residences, combined with their unique architectural design, will undoubtedly drive demand. Paradigm Realty anticipates a rapid uptake of these homes, with prices set to rise by mid-June, adding to the sense of a 'never before' moment for potential buyers and investors alike. Speaking about the launch, Parthh K Mehta, CMD & Chief Mentoring Officer, Paradigm Realty India, said: "Crown by Alaya is a befitting name for these residences as they will shine like a crown at the very crest of Andheri. Those living the crown life will have the exclusive experience of what luxury feels like at the very top. We are known for offering lifestyle experiences that are rare, beautiful and unmatched in their elegance. This launch marks an important chapter in our story, and we are thrilled to share this vision with our partners and future homeowners." About Paradigm Realty Paradigm Realty is a prominent player in the Mumbai Metropolitan Region's suburban real estate market. The company has etched a great track record over the last 9 + years of its operation and has established a reputation for timely delivery, superlative space planning and fine craftsmanship with its cutting-edge projects at competitive affordability. These projects showcase design efficiency, pragmatic functionality and elegance while safeguarding the environment, mainly prioritising the Wishlist of its stakeholders, i.e., the needs of home seekers and driving sustainability for every member. Under the leadership of CMD Parthh K Mehta, Paradigm Realty has risen to the ranks of being a reputable brand, catering to 3000+ happy families with a team of more than 275 members, demonstrating an impressive capability to execute approximately.
