Living style and the low availability of affordable residences in Mumbai is resulting in rise in property price and this is why properties that were available in the range between Rs 30 lacs and 60 lacs are now touching Rs 75 to crore, real estate marketing say.
As per many media reports the residential property rate in Mumbai could drop by 25% but due to scarcity of housing units the value of Property in Mumbai are still high and people just cannot meet the expense of having a house one of the big city Mumbai.
Real estate company sources inform that residential property transactions have gone down by 25 to 30% in Mumbai, reason why? Buy residential property in Mumbai become competition for investor to get more earn so, their price are rising. To tackle this situation and to heighten sales real estate developers are providing schemes like stamp duty rebate, free car parking and interiors. So, they are not slashing prices significantly as it signs the beginning of a downward trend. In its place they are holding on to the prices to keep up the faithfully.
Residential Property rates in Mumbai segment keep fluctuating depending on the demand and supply. If we consider in a recent property price survey, the Mumbai city show a mixed trend for investor or buyer. According to National Housing Park, property in Mumbai prices have shown and upward trend in this city of India.
Investors and NRI have many good reasons to invest in Mumbai real estate property. Mumbai city is the most populous and brand city of India with its population is growing with high rate. Reason behind to this constant increase in population, the need for both commercial and residential property rate in Mumbai doesn’t equate to the present need. So it is commonplace for one to see big families forced to be living in as small as one or two room flats, apartments, or quarters in Mumbai economical city.
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