Mumbai Real Estate Presenting New Opportunities
Mumbai is the most desired city for buying selling or renting a property in India. A teeming metropolis it has witnessed a burgeoning demand and supply of properties over the last couple of years. It is widely recognized across the world as an IT and ITES hub. This has resulted in high property prices in Mumbai which are now comparable to prices in cities like London New York and Tokyo.
Locations in Mumbai like Worli BandraKurla Complex BKC and Lower Parel have seen rising demand in GradeA office buildings. Andheri East and Nariman Point have also witnessed the high number of occupancy over the past few months about 9095 per cent. There has been an increase of about 1535 per cent in values for commercial properties and about 40 per cent in Mumbai residential properties.
Malabar Hill Breach Candy and Altamount Road continue to be Mumbai’s golden triangle. Residential properties in these areas sell in the range of Rs 30000 to 50000 a sq ft. With Mumbai real estate developers promoting sprawling townships malls software parks and office complexes across the city places like Dharavi has seen a sharp rise in its property prices. A onebedroomhallkitchen BHK house in the congested by lanes of Dharavi is to fetch at the same prices as in Kandivli or Borvli. Surprisingly a 225 sq ft house in the area would come at a high price of Rs 9 lakh. The biggest beneficiary of infrastructural developments have been the eastern suburbs of Navi Mumbai including areas like Kharghar Airoli CBD Belapur and Sanpada which remain viable investment areas. Rates in Navi Mumbai range between Rs.3000 to Rs.5000 per sq ft.
Mumbai being the fashion capital is hit by the retail buzz too. With the opening up of the retail market there has been a growing demand for Mumbai Properties in retail. The retail stores and malls are either owned by some business group or leased for hefty prices as the demand is very high. To find out more about Mumbai property and real estate visit India’s No.1 property site magicbricks.com.
About the writer: George Gonigal provides you the best and latest info on India Properties. He would also let you know about Delhi Properties.
Related posts:
