Mumbai Property Is One of the Hottest Properties in India

by Param Pw Real Estate

Unlike other real estate markets, Mumbai Real Estate market still faces a higher demand for luxury segment houses. Looking at the number of new launches, one can easily understand how fast the city is developing and setting itself as a good platform for the top-end segment alone. The sky reaching property prices in the city makes it only affordable to the top-end and business people. Other middle income class has no place to lay their foot even.

If the city offers no inch of land to the middle income class people, the condition of the lower income group can well be assumed by anyone. There is no doubt for anyone that Mumbai property is one of the hottest properties in India as a whole. The property prices are far above the heads of the people and no one can easily attain anything in the city now. However the property prices are dependent on the location as well.

It is estimated that the cost of constructing a luxury home is 30 to 40% higher than an ordinary project. So the sale price will be 60 to 80% in this segment. However the property prices are dependent on the location importance. So to precise, the price of a luxury project will be more in Mumbai than in Thane or any other cities. Undoubtedly there has been an increase in the number of luxury projects that earmark the booming nature of Real Estate in Mumbai.

Marathon Nexworld, Marathon Mblem and Marathon Nextown by Marathon Group, Runwal Elina by Runwal Group, Lodha Grandezza by Lodha Group, Dosti Centerio by Dosti Group, Mayfair Mystic and Mayfair Greens by Mayfair Housing, etc. are some of the top end luxury projects which are to be launched soon in Mumbai. All these projects show and proclaim the golden era of Mumbai Real Estate.

Though there are many who say that Real Estate in Mumbai is not as hot as it was, they all will appreciate and agree with the fact that the city is one of the best and hottest locations in India. The property prices are already reached a level of saturation; still there are many takers for the properties. Comparing to the other hot destinations like Bangalore or Gurgaon, the city is far ahead to them due to the higher demand of the people especially the top class people.

It is true that there are many takers who wish to own properties in Bangalore and Gurgaon. However the number of takers for Mumbai property exceeds the number of takers in these cities. Bangalore is mainly an end-user driven market and Gurgaon is only growing and it will take years or even decades for Gurgaon to reach the level of Mumbai. Gurgaon has to go a lot more to reach the place where Mumbai stands.