Home / Properties Under 1 Cr

Properties Under 1 Crore in Mumbai

In the grand symphony of India's real estate, where the sky's the limit in terms of property pricing a delightful melody of affordability can still be heard. Homes priced under 1 crore are the rising stars of this real estate cinema, ruling the hearts of the low income buyer with their harmonious blend of cost-effectiveness and still king in terms of amenities.

These types of housing are termed as affordable houses .There are a number of factors that have contributed to the growth of the affordable housing market in India. One factor is the government's focus on providing housing for all. The Pradhan Mantri Awas Yojana (PMAY) is a government scheme that aims to provide affordable housing to 20 million households by 2022.

Another factor that has driven the growth of the affordable housing market is the increasing demand for smaller homes. As families become smaller, there is less need for large homes. This has led to a growing demand for apartments and townhouses, which are often more affordable than standalone homes.

Interest rate subsidy: The government provides an interest rate subsidy of up to 6.5% for loans taken for affordable homes. This can save homebuyers thousands of rupees in interest payments over the life of the loan.
Capital subsidy: The government also provides a capital subsidy of up to 2.5 lakhs for loans taken for affordable homes. This is a one-time grant that can help homebuyers reduce the upfront cost of buying a home.
Tax benefits: Homebuyers of affordable homes can also avail of tax benefits such as deduction of interest paid on home loan, exemption from capital gains tax on sale of home, and rebate on stamp duty.
Direct Subsidy: The government also provides direct subsidies to developers who build affordable homes. This helps to reduce the cost of construction, which can make the homes more affordable for buyers

The Arkade Nest, a masterpiece by Arkade Group Builders, nestled in the growing enchanting landscapes of Mulund West . This residential gem beckons with promises of a splendid urban environment .

In May 2023, the Arkade Nest made its grand debut, setting the stage for a new chapter in luxury living. As you step into the world of Arkade Nest , you'll find that time has been kind; the possession date is set for June 2027, allowing anticipation to build for the unveiling of your future abode.

Real Estate Projects Under 1 Crore

Client Testimonials (Overall Rating 4.8/5 24 Reviews)

Mr. Ramesh Shelar

Great experience working with a company that provided exceptional service, going above and beyond expectations, They collected documents, ensured banking paperwork was satisfactory, and coordinated with us for payment and loan process. Highly recommend Evernest for their outstanding support!

Mr. Keshav Parmar

We were thoroughly impressed with their professionalism and efficiency. They provided funding for one of our projects in record time, and the work was done quickly and smoothly although we never had any past track-record of taking institutional finance. Evernest team's commitment to their clients is evident in every step of the process. Their team is knowledgeable, responsive, and dedicated to ensuring a seemless experience for their customers.

Mr. Steven D'souza

It is rare to find a business that not only delivers excellent service but also does so with integrity, honesty, and transparency. They took the time to understand my unique needs and worked tirelessly to ensure that they met my expectations. Their post-transaction service showed that they genuinely cared about their customers' satisfaction and were committed to building long-term relationships.

Mrs. Arpita Patil

We recently had the pleasure of working with the Evernest team to purchase a flat, and we are extremely happy by the level of expertise and attention to detail the staff demonstrated. The team was always one step ahead, in anticipating our needs and addressing any concerns before we even had the chance to voice them. We felt like we were in the hands of true professionas, who had our best interest at heart.

Mr. Jamal Sayyed

Evernest Realty has been stupendous in its approach towards entire spectrum of services be it Strategic Advisory & Consulting, Industry Research, Valuations or Real Estate Management. The team has demonstrated excellent synergy creation in some landmark deal closures and have been successful in integration of value systems across the industry. We look forward to the team making new milestones & further augment long-term relationships in times to come.

Ms. Jessy Paul

Excellent Service. Extremely pro active. Thorough Professionals by taking care of every detail necessary. Definitely recommend them for all your real estate requirements.

Mr. George Veleparambil

Extremely responsive and very pro-active on communicating with us, from the sale of our house to the purchase of our new house. I wish I could find some criticism to help them better herself, but I honestly can't think of anything that they could have done differently or better for us. We don't think there's a better realtor out there representing a seller and buyer.

Mr. Ravi Pandey

I was looking for a vastu house in Thane and have seen over 50 houses through them. Any other Realtor would have lost their interest. These guys are absolutely professional and they have been Extremely helpful.

Mrs. Tabassum Qureshi

Evernest Realty and Mr. Aziz is a complete package and one stop solution for all real estate related asks/ requirements. He essentially provides all the vital informations wrt to the project which really helps one in taking any decision.

Mrs. Reshma Pillai

Evernest Realty and Aziz Sayyed are two trustworthy names in real estate space regime. Their indepth knowledge, fair understanding of your ask and precise filteration of the choices available helps you BUY...they can help you buy the precious most investment of one's lifetime.

Mr. Shreyas Yadav

I have known Aziz Sayyed of Evernest Realty since almost 4 years. He consistently share his Sunday Weekly Digest regarding Real Estate which are worth reading. He adds lot of value to customer and share unbiased advice. I keep referring him to my clients.Keep doing the good work. All the Best for your future.

Mr. Cleyton Pinto

I have known Aziz Sayyed since last 3 years. He is highly trustworthy and True professional to the core.He looks to the customer interest 1st. He is Honest and Smart working.He is also good at networking. I highly recommend his service to everyone.

Mr. Nimrit Shah

Aziz has been very helpful and professional. I called him from Australia regards a property in Mumbai and though there was no monetary benefit for him he still took time and effort to answer all my questions and give me the necessary info I needed.

Mrs. Komal Jagda

I Highly recommend Services of Aziz Sayyed from Evernest Realty. His professionalsim and passion towards his work is getting me to give him 5 star.

Mrs. Ishita Bhatia

For those in search of residential properties, I strongly recommend Evernest Realty. The agents exhibited outstanding professionalism and a sincere desire to assist me in finding the ideal home. From our initial meeting to the closing, their commitment to delivering a personalized and thorough service was impressive.

Mrs. Harsha Singh

Evernest redefines the search for residential properties. Their dedication to tailoring options to individual needs ensures a personalized journey in finding the perfect home. Highly recommended for a seamless and enjoyable residential property exploration.

Mrs. Simran Dhillon

My experience with Evernest was transformative in my pursuit of the perfect property. Their exceptional expertise in linking clients to outstanding real estate projects truly sets them apart.I highly recommend their services to anyone navigating the complexities of the real estate market.

Mr. Ronit Parmar

Outstanding service in the pursuit of luxury homes in Mumbai. The agents showed a remarkable understanding of my preferences and presented options that were precisely what I was looking for. Their dedication to helping me find my dream home has made this experience truly exceptional.

Mr. Virat Poddar

My experience with Evernest Realty was outstanding—they went above and beyond my expectations! From the first consultation to handing over the keys, their commitment to finding the perfect home was evident. I strongly recommend Evernest Realty for a seamless and exceptional real estate experience.

Ms. Angad Parekh

An unforgettable experience purchasing my property through Evernest. The team's dedication, market knowledge, and seamless process turned what could be a stressful endeavor into a joyous occasion. Grateful for their role in helping me secure my dream property.

Mrs. Nilam Sen

Exceptionally satisfied with the personalized service from Evernest focusing on premium real estate. The team's mastery in the high-end market was evident, and their commitment to aligning my preferences with luxurious properties was outstanding.

Mrs. Samridhi Chavan

Evernest Homes went above and beyond, exceeding my expectations! The agents' professionalism was evident as they tirelessly searched for homes that precisely met my criteria. Their dedication and personalized service truly made a significant impact. Evernest Realty played a crucial role in making me a proud homeowner.

Mrs. Nishant Dixit

Real estate investing has been made accessible thanks to Evernest. The team's market expertise and strategic counsel played a crucial role in my ability to make informed investment decisions.

Mrs. Kritik Desai

I am thankful for the exceptional support and expertise offered by Evernest Realty. They turned a potentially stressful process into a seamlessly managed experience. The team's commitment to helping me find the ideal home made all the difference. I highly recommend them for a stress-free and satisfying real estate journey.

FAQ

Q.1 What do you mean by affordable housing?

Ans - Affordable housing refers to housing units that are affordable by that section of society whose income is below the median household income. In India, affordable housing is provided for low income people, middle income people and economically weaker sections who have considerably low levels of income (urban areas).

Q.2 Give some information on the interest rate?

Ans - Here are some information on the interest rate of housing loans in India:

The average interest rate on home loans in India is 8.3%.
The lowest interest rate on home loans in India is 6.5%.
The highest interest rate on home loans in India is 12%.
The interest rate on home loans has been increasing since May 2022, when the RBI started raising the repo rate to control inflation.
The RBI is expected to continue raising the repo rate in the coming months, which will lead to further increases in the interest rate on home loans.

Q.3 What is the RBI definition of affordable housing?

Ans - “Affordable Housing” is defined as a housing project using at least 50% of the Floor Area Ratio (FAR)/Floor Space Index (FSI) for dwelling units with carpet area of not more than 60 square meters

Q.4 Amenities of Arkade Nest?

Ans - In Arkade Nest, there's an expansive array of amenities awaiting for homebuyers, creating a haven of comfort and luxury.

gym
green park
open area
children play area
multipurpose area
security system
sits-outs jogging track
dedicated parking zone

Q.5 How can I estimate the price of 2bhk flats in Mumbai?

Ans - You can estimate the price of 2bhk flats in Mumbai by looking at the builders' reputation, the flat resale price, the location value, amenities, construction quality, stamp duty and registration charges, brokerage fee, and other additional costs.