The Soaring Rates of Property in Mumbai

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The Soaring Rates of Property in Mumbai

Posted On : Aug-24-2011 | seen (769) times | Article Word Count : 627 |

Mumbai which is often called the city of dreams has its real estate market bustling all around the year. Being the financial capital of India, it has some of the biggest names of the real estate industry associated with it. It is also the most preferred real estate destination for property buyers and foreign investors as well.

Mumbai is the city where dreams come true! People come here in search of jobs that help them attain their goals in life. They even come across many challenges that stop them from doing so. The first and most important one is finding a house to live in. The city is known to have a lot of potential as far as property is concerned. The real estate in Mumbai offer many places to live to people belonging to every strata of society.
The real estate sector in Mumbai has been scaling new heights at a smoldering annual rate of 30 percent according to some facts and figures in reference to Mumbai real estate sector. It is believed that real estate in Mumbai is among the most exclusive in the entire world. According to experts the rates of property at some places is more than even Tokyo and New York. Despite exorbitant rates, there are many people who easily afford such properties and flaunt them as their status symbol.
Bandra-Worli Sealink Project, New airport at Navi Mumbai, Santacruz-Chembur Link Project, Current Transportation systems, New Suburban Trains Project, De-congestion of Prime CBD areas, New Bridges Project, Shopping Malls, etc are some of the prestigious projects that have been recently completed in Mumbai.
A new phase of restructuring and redevelopment is also going on as far as the real estate in Mumbai is concerned. DLF, Akruti, Parshvanath and many other prominent builders and developers are making bids for the development of area like ‘Dharavi’ which is considered to be the biggest slum of Asia. The revamping of commercial areas into retail area is another upcoming project in Mumbai real estate sector. Since commercial property rates are soaring with every passing day, it is becoming more and more difficult for the developers to sell these properties with reasonable profits. This is the reason commercial properties are being converted into retail space to make fast bucks. Since this is a new trend that is being witnessed in Mumbai, prospective buyers are extra cautious and are trying to wait till the sector stabilizes.
As far as availability of property and its cost effectiveness is concerned, Real estate in Mumbai is showing positive signs. Many reputed builders are coming up with good projects to match the ever increasing demands of residential as well as commercial property in Mumbai. A wide range of flats, apartments, complexes, etc is dotting the skyline of Mumbai. Since Mumbai has been facing the challenge of space constraint, waste lands like dumping grounds are also being used to build complexes and flats. These flats offer certain luxurious facilities to the people willing to make Mumbai their abode.
Many financial houses are also offering easy housing loans thereby creating a roar in the real estate Mumbai sector. These loans are either pre determined or are tailored according to the needs of the people. A financial analyst or an advisor can help potential investors in taking a wise and suitable decision. One can choose the best possible scheme and make their dream of owning a property in Mumbai come true.
Generally investors wait with bated breath to allow the rates to stabilize a little and become more favorable for them to purchase any property here. Since such decisions are taken once or twice in life time, at least for middle class people, they are extra careful while taking them. They don’t want to block their funds in case there is sudden inflation in land prices or any other contingency. All eyes are fixed to this market since the city has registered enormous growth in last few years and the real estate sector in Mumbai has been beckoning people to invest their money to gain profits later.

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<h1>The Soaring Rates of Property in Mumbai</h1> Author: <a href='http://www.articleseen.com/profile_99acres.aspx'>99acres</a> Mumbai is the city where dreams come true! People come here in search of jobs that help them attain their goals in life. They even come across many challenges that stop them from doing so. The first and most important one is finding a house to live in. The city is known to have a lot of potential as far as property is concerned. The real estate in Mumbai offer many places to live to people belonging to every strata of society. 
The real estate sector in Mumbai has been scaling new heights at a smoldering annual rate of 30 percent according to some facts and figures in reference to Mumbai real estate sector. It is believed that real estate in Mumbai is among the most exclusive in the entire world. According to experts the rates of property at some places is more than even Tokyo and New York. Despite exorbitant rates, there are many people who easily afford such properties and flaunt them as their status symbol. 
Bandra-Worli Sealink Project, New airport at Navi Mumbai, Santacruz-Chembur Link Project, Current Transportation systems, New Suburban Trains Project, De-congestion of Prime CBD areas, New Bridges Project, Shopping Malls, etc are some of the prestigious projects that have been recently completed in Mumbai. 
A new phase of restructuring and redevelopment is also going on as far as the real estate in Mumbai is concerned. DLF, Akruti, Parshvanath and many other prominent builders and developers are making bids for the development of area like ‘Dharavi’ which is considered to be the biggest slum of Asia. The revamping of commercial areas into retail area is another upcoming project in Mumbai real estate sector. Since commercial property rates are soaring with every passing day, it is becoming more and more difficult for the developers to sell these properties with reasonable profits. This is the reason commercial properties are being converted into retail space to make fast bucks. Since this is a new trend that is being witnessed in Mumbai, prospective buyers are extra cautious and are trying to wait till the sector stabilizes. 
As far as availability of property and its cost effectiveness is concerned, Real estate in Mumbai is showing positive signs. Many reputed builders are coming up with good projects to match the ever increasing demands of residential as well as commercial property in Mumbai. A wide range of flats, apartments, complexes, etc is dotting the skyline of Mumbai. Since Mumbai has been facing the challenge of space constraint, waste lands like dumping grounds are also being used to build complexes and flats. These flats offer certain luxurious facilities to the people willing to make Mumbai their abode. 
Many financial houses are also offering easy housing loans thereby creating a roar in the real estate Mumbai sector. These loans are either pre determined or are tailored according to the needs of the people. A financial analyst or an advisor can help potential investors in taking a wise and suitable decision. One can choose the best possible scheme and make their dream of owning a property in Mumbai come true. 
Generally investors wait with bated breath to allow the rates to stabilize a little and become more favorable for them to purchase any property here. Since such decisions are taken once or twice in life time, at least for middle class people, they are extra careful while taking them. They don’t want to block their funds in case there is sudden inflation in land prices or any other contingency. All eyes are fixed to this market since the city has registered enormous growth in last few years and the real estate sector in Mumbai has been beckoning people to invest their money to gain profits later.About the Author: Kanika Jain writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange info. 99 acres covers buy and <a rel="nofollow" href="http://www.99acres.com">rent</a> information, about city builders like <a rel="nofollow" href="http://builders.99acres.com">Builders in Mumbai</a>, Delhi etc. Article Source: <a href='http://www.articleseen.com/Article_The-Soaring-Rates-of-Property-in-Mumbai_76354.aspx'> http://www.articleseen.com/Article_The Soaring Rates of Property in Mumbai_76354.aspx</a>

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Author Resource :
Kanika Jain writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange info. 99 acres covers buy and rent information, about city builders like Builders in Mumbai, Delhi etc.

Keywords : Real Estate Mumbai, Builders in Mumbai, Mumbai Properties, 1 BHK Flat in Mumbai, Rent, Buy, Sale,

Category : Business : Sales

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