Developers to Offer Property in Mumbai for Sale at Low Rates

Mumbai has been witnessing a fall in the home sales and this has prompted the developers in the city to offer Property in Mumbai for Saleat lower rates than the existing prices. By cutting the edge of prices, the developers hope that they will be able to gain some takers for their unsold inventories. In case if they still not find any takers for their unsold inventories, then they are sure to face severe crises and to fall into worse situations.

Most of the developers have taken loans from mainstream banks and other private financiers. Besides this, they have also taken loans from the investors, offering them assured returns up to 15 percent. Thus they must sell out their properties as soon as possible, lest they will surely fall into deep troubles. This is one of the main reasons why they have decided to offer their new properties at lower rates. Not only in Mumbai but also their Property in Navi Mumbai also are offered at lower rates now.

Though the properties are offered at lower rates, the takers are not convinced and they are not interested in buying out Property in Mumbai For Sale. This is mainly because the prices are still beyond the reach of the people and they find it really hard to buy out any of the properties. On the other end, the investors are also not interested in the residential properties now.

Earlier, Mumbai was one of the top cities where the investors remained highly competitive to one another. They were not leaving any stones unturned but now the situation has undergone vast changes as there are only few investors in the city now. You may feel that the city is still full of investors, what I mean here is that the investors’ number has been reduced very much. Now they are looking for Property in Navi Mumbai, Thane, Pune and other nearby cities than Mumbai.

Investors now do not dare to have investments in the residential segment of Mumbai due to the vast number of unsold housing units. Till these units are not sold out, there may not be any more huge investments. There are many small scale investors who invest in one or two properties, aiming to own profit and returns from their investments in the form of rentals. real estate developers in Mumbai are loaded with heavy debts, which have affected their new projects as well.