A Selection Of The Most Common Fire Risks In The Workplace And What You Can Do To Stop Them

Every day our fire inspectors visit a variety of businesses all across the country. We assess, for example; office blocks, factories, restaurants, and even zoos our clients and locations are extremely diverse. Although the businesses we work with often have nothing in common, they regularly have similar fire safety problems. In this article we are going to outline some of the most common problems and suggest what you can do to solve them.

Untrained staff
The majority of the companies we visit will have appointed a responsible person to be in charge of fire safety. Although this is highly advisable, as well as being required by law, we often find that companies who have a designated member of staff often dont maintain training on fire regulations and equipment. This individual is ultimately responsible for your personnel (and property), so constant awareness and training is key to overall safety.

Instead of placing the responsibility on one set of shoulders, we recommend that you should train every member of staff so they are fully prepared and know what to do should a fire ever break out. If your staff are sufficiently trained, they are more likely to pre-empt and spot potential fire risks around your premises; therefore reducing the risk of a fire.

Many HR professionals say that investing money in staff training helps to retain staff, as well as increasing motivation and productivity in the workplace. So by training your staff about fire safety you could not only help prevent a fire, it could also go some way in making your staff more motivated and efficient.

Storage
If your business contains a large stock of goods or materials, its really important that you have the necessary safety measures in place. A large number of businesses we visit assume that if they meet the relevant legal requirements, then their property and procedures are satisfactory. Although this is true to a certain extent, there are common problems that can be easily solved that will help to provide higher standards of safety.

We always recommend that your warehouse or storage area should be fitted with a sprinkler system regardless of how big or small it is. In the case of a fire, an effective sprinkler system can considerably reduce the amount of damage done to goods or materials, as well as ensuring your staff are safe at all times.

Its also really important that waste, flammable objects and chemicals arent building up in any part of your building. Waste such as paper and wood shavings presents a serious fire risk if it starts to collect. By simply cleaning your storage area on a regular basis will eliminate this risk.

If you own a large warehouse its really important that all your staff are aware of all the exit points so they can quickly and safely leave building in case of a fire. We also advise that you dont create any dead ends between storage units that are longer than 15 meters.

Inadequate fire equipment
Very often we talk to clients who feel they have the correct fire equipment already in place, even when they have an old fire extinguisher thats been collecting dust for countless years. Rather unsurprisingly, their extinguishers are either faulty or are even the wrong type of extinguisher for their premises in other words they are completely useless and unreliable.

There are strict laws on the type of fire extinguisher you are required to have depending on the potential risks at your premises. For example, if you have abundant electrical equipment you will need to have a C02 extinguisher, which means that if you have a standard water extinguisher the chances are using it will actually enhance the fire, not decrease it.

If you business accommodates a kitchen, you will need to be aware of the strict regulations relating to the different types of fire blankets available, as well as smoke alarms and extinguishers. Its really important that your fire safety equipment functions properly, meets industry standards and is replaced regularly.

The majority of fire risks we identify during our consultancy work can be solved fairly easily with your co-operation and understanding. Simple yet effective factors of moving rubbish and clearing fire exits can easily save lives. Its the small things that ultimately make the biggest difference.

We cant highlight enough how important it is to have the correct fire equipment occupying your commercial property. We strongly recommend that you get a fully qualified consultant to carry out a comprehensive audit of your premises to identify any areas that need to be improved, as well as staff training and awareness.

See our website for more information on how to improve fire safety at your workplace, as well as advice for arranging a consultancy meeting.

Florida Commercial Real Estate – Having the Best Commercial Property

You can always take advantage of the recession and make some good profit in times of need. Are you wondering how this can happen? By simply investing your money in Florida commercial real estate, you will surely achieve your goal.

Florida is a well-known thriving part of the America. Money may be a little bit tight during recession but there is always a good business in Florida wherein tourists from all over the globe are flocking together. With this it is time for you to take advantage of buying a commercial property in Florida commercial real estate market. t.

These commercial properties are can be rented by prospective business owners or you can set your own business here since you have the advantage of having a good location. And after some few years when you are tired of the routine, you can even sell the place and earn a good profit from it. Normally these properties in Florida commercial real estate can double or even triple the price. With this, there will be a lot of prospective investors who will get interested of it.

Having your own Florida commercial real estate property can offer you a lot of things. As mentioned earlier, you can have it rented or open your own business using the property. You do not have anything to worry about since these properties are usually situated with those populated areas of Florida.

Opening your down business in Florida is a good idea since the money that you will use as your capital will never decrease. As we all know tourist is willing to spend for their vacation and that is good for the Florida economy not to mention their entrepreneurs. You might want to consider venturing into a hotel, spas, restaurants, bars and night clubs, shops and equipment rental for water sports and other activities. Even paid parking space is a good business idea in Florida.

When it comes to Florida commercial real estate, the location is always good. You dos not have to worry about wasting your money on a worthless piece of land even if you buy one in a small city because you can always expect to earn and appreciate after few years. Knowing all the advantages that you can get out of Florida commercial real estate, you can go ahead and start your investment. There are plenty of commercial properties that are available and for sure you will find the right one for your business ideas. You have to take time in searching and collecting selections. Once done checking the commercial real estate market, then it is time for you to make some comparisons among the selections that you have. This will help you end up with the right commercial property to invest.

Ella Ayson
Florida Commercial Real Estate

Types of Masonry Construction, Characteristics and Common Uses

Types of Masonry Construction, Characteristics And Common Uses

Virtually, all buildings incorporate some type of masonry construction, whether it is a stone or concrete foundation, brick veneer walls, or terra cotta ornamentation. Preservation of these buildings requires a basic understanding of masonry types and their characteristics, technology and construction methodology, proper maintenance and conservation treatments.

Masonry is generally a highly durable form of construction. However, the quality of material used, together with the quality of the mortar and workmanship can strongly affect the durability of the overall masonry construction. Masonry is commonly used for the walls of buildings, retaining walls and monuments. Brick is the most common type of masonry and may be either load bearing or a veneer. Concrete Masonry Units (CMU’s) are made from concrete and are larger than ordinary bricks. CMU walls can be reinforced by filling the block voids with concrete and steel reinforcing bars. Typically, not all voids are filled, but rather those at corners, wall ends, adjacent to window and door openings, which increase wall strength and stability. Placement of steel reinforcement generally results in a CMU walls having much greater lateral and tensile strength than unreinforced walls.

The earliest material to be used was stone. It can be obtained in two ways: from natural outcroppings or scattered deposits, and by the process of quarrying. Most early buildings were constructed of stone readily available near the building site. Early stonemasons also were aware that certain stone types had more -weatherability- – able to withstand the effects of weather better than others – and they utilized each type in accordance with its properties. Stones may be laid up in their natural form, or broken and squared, or shaped, for the proper fit with other stones in the wall.

Quarrying, the industrial process of extracting stone from the earth requires substantial effort and technology. In this process, stone is drilled, blasted, fractured or cut from the quarry face, and then shaped and finished for use in construction.

Concrete masonry units (block and concrete brick are available in sizes, shapes, colors, textures, and profiles for practically every conceivable need and convenience in masonry construction. In addition, concrete masonry units may be used to create attractive patterns and designs to produce an almost unlimited range of architectural treatments of wall surfaces. The following are some more prominent uses:

Exterior load-bearing walls (below and above grade)

Interior load-bearing or non load bearing walls

Fire walls, party walls, curtain walls

Partitions, panel walls, solar screens

Backing for brick, stone, stucco, and other exterior facings

Veneer or nonstructural facing for wood, concrete, or masonry

Fire protection of structural steel members

Firesafe enclosures of stairwells, elevator shafts, storage vaults, or fire hazardous work areas

Piers, pilasters, columns

Bond beams, lintels, sills

Floor and roof systems

Retaining walls, slope protection, ornamental garden walls, and highway sound barriers

Chimneys and fireplaces

Catch basins, manholes, valve vaults

Paving and turf block

Solid brick masonry is made of two or more layers with the units running horizontally (called -stretcher- bricks) bound together with bricks running transverse to the wall (called -header- bricks). Each row of bricks is known as a course. The pattern of headers and stretchers employed gives to different bonds such as the common bond, with every sixth course composed of headers, the English bond, and the Flemish bond, with alternating stretcher and header bricks present on every course. There are no real significant utilitarian differences between most bonds, but the appearance of the finished walls is affected. Brickwork, like unreinforced concrete, has little tensile strength, and works by everything being kept in compression.

There are many brick laying patterns, the following are but a few:

Stack Bond The brick laying patterns described by this term are not structurally sound and are used only for decorative purposes. The stack bond is a run of stretchers with each stretcher stacked centered on the stretcher below it. All joints run vertically down the entire wall.

Running Bond brick laying patterns are a run of stretchers with each stretcher placed in the center of the stretcher below it. This pattern gives a reasonable amount of structural soundness.

English Bond is made up of alternating courses of stretchers and headers. This is the strongest bond for a one-brick thick wall.

Brick Terminology

Bat is a brick cut in half or quarter along the short face

Closer A queen closer is brick cut in half down the long face. They are used in corners of English or Flemish Bond.

Header Brick is laid in a wall, usually connecting two rows of a double wythe wall. The smallest end of the brick is horizontal, aligned with the surface of the wall and exposed to the weather.

Quoins are groups of brick that project slightly from the face of a wall at the corner of a building. The pattern often alternates with several courses projecting bricks, and several courses that are aligned with the wall. The pattern of projecting quoins often alternates with the brickwork on the other side of the corner.

Rowlock is a complete course of brick laid on its side, with the shortest end of the brick exposed and vertical. Commonly used on the top course as a coping for a garden wall.

Sailor Brick are laid on its end with the largest, broad face exposed.

Shiner Brick laid on edge like a sailor, but the broad face is set horizontally.

Soldier Brick often is a complete course of brick laid on end vertically, with the narrow side exposed in the face of the wall.

Wythe is a single vertical wall of brick.

Clay Brick vs. Concrete

The formula for brick making has not changed for hundreds of years. The primary ingredients are clays and shale. It is these ingredients that give natural brick its colors and hue.

The natural color of concrete is gray. In order to give concrete bricks color, additives are necessary to create the variety of colors. Weather and the ultraviolet rays of the sun can cause concrete bricks to fade over time.

Concrete bricks have a tendency to shrink. During the concrete curing process, if the bricks are not properly cured prior to being delivered to the jobsite, shrinking and cracking will appear at the mortar joints and can allow water to enter the wall cavity.

According to a recent survey of architects, designers, engineers, and environmental planners and managers conducted by the Portland Cement Association (PCA), 77 percent chose concrete as a sustainable material. Overall, respondents ranked concrete favorably for its energy efficiency, durability and reduced maintenance. Over 500 individuals participated in the blind survey presented in an Internet survey form by a third party web host.

According to PCA President, -buildings with exterior concrete walls utilize less energy to heat and cool than similarly insulated buildings with wood or steel frame walls-. Additionally, -the superior insulation, air tightness, and mass of the walls can reduce energy for heating and cooling by up to 40%.

Alan Trauger is a Building Consultant that performs property condition assessments for residential and commercial properties. An experienced and knowledgeable problem solver, understanding processes and issues related to building structures and their systems. An expert witness, trainer, and educator. To review Authors Bio, qualifications, and interest in receiving future email newsletters http://www.alantrauger.com

To learn more about how your real estate tax assessment is prepared and how to appeal your property taxes. Property Tax Reduction Manual

MMR 52nd Avenue Commercial Property in Noida

MMR 52nd Avenue is one of the latest and outstanding creations by the MMR SAHA Group. It is a kind of commercial project that is equipped with every kind of modern facility. With the launch of this legendary project group is trying to revolutionize the market of real estate that Noida has not seen ever before. The project is located in the prime and posh location of developing Noida in sector 52. This sector is considered to be the south Delhi of NCR as it is very close to the metro stations and famous market places like sector 18 market. The important thing about this project is that it is residential cum commercial project. It is going to be the landmark in the history of Real Estate in India. The Group has fifteen years of fine experience in the realty. That is why we can find here the perfect example of architecture and design where you can enjoy the cozy sense of pleasure.

The project is gaining the advantage of location and it takes 15 minutes’ drive from Kalindi kunj and only 8 minutes from DND flyway. Distance from Noida city centre is only five minutes’ drive and it takes only 10 minutes from national highway 24 and five minutes from sector 18 markets. The whole projects is sprawled over vast acre of land and it is throwing the specification of ultra-modern world class facility. Make your own private kingdom with 52nd Avenue where you can enjoy the luxury and comfort at the same time. “>Noida has become the major hub for residential and commercial projects for so many reasons. The fundamental reason is: it has emerged as a most developed city of Delhi/NCR.We can observe tremendous development that took place in past few decades. It has not become only the residential hub but it is also known for the commercial complexes that has made the city more glamour. You can find here outlets and showrooms of world renowned companies here. Every day their number goes on increasing and a large sector is showing interest in making investment towards shopping complexes. If you are making investment in this sector really it will prove and give beneficiary return after few years.

Make your investment one time and get the return all throughout the life. The future scope of the asset is very bright that you are buying in the Noida city. Considering the future scope of the place people are coming here to invest with no any hesitation. So the importance of commercial complexes has also increased and it is in huge demand in Noida. Let us have a brief introductory about one of the most popular commercial project by MMR group.

MMR 52nd Avenue is one of the latest and outstanding creations by the MMR SAHA Group. It is a kind of commercial project that is equipped with every kind of modern facility. With the launch of this legendary project group is trying to revolutionize the market of real estate that Noida has not seen ever before. The project is located in the prime and posh location of developing Noida in sector 52. This sector is considered to be the south Delhi of NCR as it is very close to the metro stations and famous market places like sector 18 market. The important thing about this project is that it is residential cum commercial project. It is going to be the landmark in the history of Real Estate in India. The Group has fifteen years of fine experience in the realty. That is why we can find here the perfect example of architecture and design where you can enjoy the cozy sense of pleasure.

The project is gaining the advantage of location and it takes 15 minutes’ drive from Kalindi kunj and only 8 minutes from DND flyway. Distance from Noida city centre is only five minutes’ drive and it takes only 10 minutes from national highway 24 and five minutes from sector 18 markets. The whole projects is sprawled over vast acre of land and it is throwing the specification of ultra-modern world class facility. Make your own private kingdom with 52nd Avenue where you can enjoy the luxury and comfort at the same time.

Three Major International Business Risks You Need To Be Aware Of

Companies rapidly expanding to the global marketplace may have the great opportunities for profit, however, if unable to carefully evaluate the international business risks involve, the golden opportunity perceived may soon turn into an expensive mistake.

Doing business in the domestic marketplace may involve looking only as far as the potential customers ability to pay and willingness to pay. When doing business internationally however, the definition of risk expands beyond customer commercial risk that includes country risk. In fact, the first thing that should be analyzed before evaluating the elements of risks associated to individual customers, is the country risk. If the country risk shows of great risk then it is senseless to continue information on the customer, but if the country risk is acceptable then the nature and extent of the country risk can help formulate the method of customer risk analysis.

International Business Risks #1 Country Risk
Approving and accepting credit to a foreign customer is also accepting the risk of the customers country. Country risk analysis means being decisive of the country credit-worthiness in terms of the willingness and ability of a foreign government to make available to local companies foreign exchange essential to service their foreign currency denominated responsibility or debts to foreign suppliers.

Evaluation of country risks takes into account the possibility of delayed payment or credit loss which can result from any one or a combination of four wide risk conditions such as the resource base, external accounts, political risks, and government policy. Always remember that these factors are interrelated and often overlap with each other.

International Business Risks #2 Political Risks
Analyzing the political outlook of a country maybe more important than analyzing the financial and economic matters of the country. In political risk analysis, one should look into reasonable assurance that if ever political change comes, as it always does, the change will be orderly and there will be practical continuity in basic economic and financial policies.

The possibility of suspension on external debt or even rejection should be carefully assessed. Leadership changes can also change the way in which international investment community views the economic future of the country. Wide fluctuations in currency markets can occur as well as government policies threatening to destroy investment and property of commercial investors in a country. Capital flight is inevitable usually resulting to restrictions of the countrys government on the flow of currency and disruption in international trade.

International Business Risk #3 Foreign Exchange Risks
Like any other commodity, currencies also follow the law of supply and demand which is subject to economic as well as political conditions. Exchange rates can fluctuate uncontrollably, sometimes a lot of times in a day, harshly complicating a companys short-term and long-term financial strategic decisions.

The importance of analyzing international business risks should never be underestimated as all these risks have a tremendous impact on the trade of goods and services between nations and thus affecting the failure or success of a business internationally.

Assam Gramin Vikash Bank – Asomi Mortgage Loan

Government of India through a notification dated 12th January 2006 amalgamated the four Regional Rur…

Government of India through a notification dated 12th January 2006 amalgamated the four Regional Rural Banks sponsored by the United Bank of India in the state of Assam to form Assam Gramin Vikash Bank (AGVB).

The erstwhile RRBs amalgamated were Pragjyotish Gaonlia Bank (Established on 06-07-1976), Lakhimi Gaonlia Bank (Established on 29-07-1980), Cachar Gramin Bank (Established on 31-03-1981) and Subansiri Gaonlia Bank (Established on 30-03-1982).

Thus Assam Gramin Vikash Bank (AGVB) came into existence from 12th January 2006 covering the areas of operation of the pre-amalgamated RRBs. The bank has its Head Office at Guwahati.

Purpose: This is a loan to owners of house, flat or commercial property to meet business/professional or personal purposes.

Eligibility: The applicant must have sufficient regular income to repay the loan and the property should be in his name.

Security: This personal loan is granted against mortgage of property such as house /flat /commercial property.

Commercial Mortgage Modification

In todays crumbling, commercial real estate market, both borrowers and lenders find themselves in quite a precarious predicament. Borrowers struggle to make their commercial mortgage payments, while lenders are crippled by the increasing number of defaults on commercial property. Right now the best solution to this problem is commercial mortgage modification.

Commercial mortgage modification is the process of renegotiating the terms of a commercial loan. This is done typically by reducing the interest rate or monthly payment on the loan. Other benefits to the borrower may include an extension of the loan term, a forbearance or moratorium on payments, and of course an alternative to foreclosure.

A commercial mortgage modification is about risk to the lender. A lender will only consider a modification if a borrower is in default or at risk of defaulting. The most important thing the lender will look at in determining whether or not to modify a commercial note is cash flow. One very important calculation used in determining cash flow is called the DCR or Debt Coverage Ratio. This ratio is used by the underwriters to determine if a modification can be approved. If a property is breaking even, meaning the income generated is equal to the operating expenses, the DCR would be equal to 1. If commercial property has a positive cash flow, meaning the income the property generates is more than sufficient to cover the mortgage payment and all of the operating expenses, the DCR is greater than 1. If the property is losing money, the DCR would be less than 1. A lender will most likely not modify the commercial note, if the property already has a DCR greater than 1. Commercial lenders writing new commercial loans will most likely require a DCR of 1.25 or greater.

The most common form of payment reduction seen in a commercial mortgage modification is when the lender converts a principal and interest payment to an interest only payment. A lender may consider this form of commercial loan modification to help the borrower improve their cash flow. By only paying the interest on the loan, as opposed to principal and interest, the payment becomes more affordable for the borrower.

However, in extreme circumstances, reducing the mortgage payment to interest only is just not enough for a commercial property owner. If a lender sees that the borrower will still have negative cash flow even after reducing the payment to interest only, they may consider a reduction in the interest rate. Although the interest rate reduction may be temporary, it will help the borrower free up capital and maintain the mortgage payment on time. Although uncommon, lenders have lowered interest rates to as low as 1% even, to avoid an even more costly foreclosure.

Best Property Developers And Builders In Chennai

Chennai is an important metro city of India. Located on the shores of Bay of Bengal and is home to the second largest natural beach in the world. Like all over in India, real estate market is growing at fast pace in Chennai also. With more and more industries and companies setting up their base in Chennai, demand for commercial as well as residential space is increasing very fast. To cash in this demand, many real estate developers are launching their projects. These residential and commercial property projects are bringing huge fortune for the developers. Most of the leading builders in Chennai start their housing projects at few acres of land. They construct well panned and aesthetically beautiful housing societies.

Some of leading property developers in Chennai is

Golden Homes Pvt. Ltd.

Golden Homes is among the well reputed property developers in Chennai. It is known for successfully completing ore than 100 housing projects all over the city. Some of the most prominent projects from this builder include Golden Fortune, Golden Altius, Golden Tassles, Golden Chime, Golden Kingsmead, Golden Quarter and others.

Appaswamy Real Estate:

The Appaswamy Group of Companies is appreciated in Chennai for developing various leading housing projects. The Group has diversified in many fields apart from property development. It deals in construction, Chit& Finance, Hoteliers and Generation of No-Conventional Power through Wind Mills. The Appaswamy Real Estate has created a niche for itself in the real estate market of Chennai on account of its quality of work, meeting deadlines, customer satisfaction and the affordable prices.

Jain Housing & Construction Ltd.:

Jain Housing and Constructions are known among the prominent builders in Chennai. They are known for offering quality work at affordable prices. They have built numerous projects and some of them are Jains Ankush Prakash, Jains Kences Retreat, Jain Amrit Kalash, Jains Anusruta, Jains La Gardenia, Jains Antariksha, Jains Eiffel Gardens, Jains Abhishek, Jains Anumita and Jains Green Acres and more.

Sri Satya Sai Constructions

Sri Satya Sai Developers are constructing residential as well as commercial property in Chennai since 1990. Some of the famous projects from this construction house are Capital Towers, Challa Mall, Eden Garden, Casa Challa, The Retreat, Intel Park and IT Park.

New Partner strengthens the Trethowans Commercial Property Group

Salisbury and Southampton solicitors Trethowans have bolstered its Commercial Property Group with the hire of Jennifer Rogerson as Partner.

Jennifer is a highly experienced commercial property solicitor who qualified in 2003 with Trethowans and most recently was with Shoosmiths in their Reading office.

Jennifer has many years of experience in advising property clients on a wide range of real estate matters with a particular focus on landlord and tenant matters and transactions involving the leisure, retail and care home sectors. She also has a great deal of experience in property-based funding work, having acted for a number of banks and lending institutions.

Jennifer prides herself on understanding client’s businesses and taking steps to ensure her advice meets the commercial needs of her clients. She has worked closely with various clients in order to develop service manuals containing precedent documentation and procedure guidelines. The bespoke documentation reflects the client’s specific requirements which assists in driving down timescales and costs.

Commenting on her return to Trethowans, Jennifer said; -I am delighted to be returning to Trethowans. Trethowans has a growing reputation for providing quality legal services to a very impressive client list which includes many notable household names and I am delighted to be part of the team.-

Commenting on Jennifer’s arrival, Chris Twaits, Partner and Head of the Commercial Property Team in Southampton said, -We are delighted to welcome Jennifer back to Trethowans. Jennifer is a real talent and her appointment is further evidence of Trethowans continued commitment to expanding key areas of the firm. Trethowans is very much a firm on the up as is confirmed by Jennifer’s choice to leave a well regarded firm such as Shoosmiths to join Trethowans. This sends out a very strong message.-

For more information visit Salisbury and Southampton solicitors http://www.trethowans.com/

Divergent Housing Price Trends In Mumbai And National Capital Region Crisi Research

CRISIL Research expects divergent price trends during the year in Mumbai and NCR (National Capital Region), the two largest residential real estate markets in India. In 2011, prices of houses are likely to decline in Mumbai, whereas prices will rise marginally in NCR. Further, the extent of price decline will vary widely across areas in Mumbai, whereas prices will inch up uniformly across areas in NCR.
CRISIL Research studied the price trend in three major supply pockets in Mumbai and NCR western suburbs (Goregaon, Malad, Kandivali and Borivali), Thane (Ghodbunder Road), and central suburbs (Dombivli and Kalyan) in Mumbai; and Noida and the outskirts of Ghaziabad and Faridabad in NCR.

City Reality reports offer an in-depth, area-wise analysis of residential, commercial and retail segments covering 400+ areas across 88 micro markets in 10 Indian cities. Read the real estate developer ratings at CRISIL that has developed two specialized products with their real estate research that help housing customers and financial institutions understand the intricacies.

Accounting for more than 50 per cent of total planned supply in each city, these major supply pockets would represent the trend in housing prices in the whole city. Mumbai and NCR would together account for more than half the 1.5 billion sq ft housing supply planned in India’s 10 leading cities up to 2013.

In Mumbai, falling demand, owing to diminished affordability, and rising interest rates will trigger a decline in prices in 2011. Prices of houses soared by 43 per cent in 2010, in the city’s three major supply pockets. Prices thus surpassed their peak values, attained in the first half of 2008, by 26 per cent, adversely affecting housing affordability. CRISIL Research therefore expects prices in Mumbai to decline by 8-10 per cent in 2011.
In NCR, prices will move up marginally because of relatively better affordability. Prices went up only by 6 per cent in 2010 in the capital region’s three major supply pockets. Prices in these areas currently are 15-20 per cent less than their peak values in the second half of 2007, making affordability relatively better in NCR than in Mumbai. CRISIL Research therefore expects average prices in the region to move up marginally by 3-4 per cent in 2011.

“Reduced affordability and a likely increase in interest rates by the Reserve Bank of India will subdue demand and depress housing prices in Mumbai in 2011. In NCR, relatively better affordability will prop prices despite any increase in interest rates,” explains Nagarajan Narasimhan, Director – CRISIL Research.

In Mumbai, the extent of the price decline would vary widely by area. Prices in premium locations like South Mumbai and Central Mumbai, which have an excess supply of houses priced at more than Rs 50 million, would decline sharply by 15-20 per cent over the next 12 months. Prices will decline more moderately, by about 6 per cent, in areas like Vasai and Virar, where affordability would be relatively better. In NCR, with prices increasing marginally across all areas, the trend, again, will be divergent.