Real Estate Market at its Boom in Mumbai

It is not a secret that property in India is one of the best investments in the current times. And the fact remains proven with the promising real estate industry that shows considerable growth in every metropolitan city in the country. Though the growth is visible in all prominent cities, but it is especially noticeable in Mumbai.

With a population of more than 19 million, Mumbai, and its surrounding areas can be considered as one of the biggest urban agglomerations of the world. In fact, considering the stock market rally, the stable government, the splendid weather, the infrastructural stability and positive economic status, more and more people prefer the city for their future life. As this trend is fuelling, the demand for property is going sky high in Mumbai. In fact, it shows a graph of the steady upward trend.

For the property builders, it’s a golden opportunity, and most of them have many ongoing projects in Mumbai in popular localities. The builders come up with quality projects, providing facilities like health clubs, gardens, swimming pool, free parking, etc. with their projects to suit the modern lifestyle and likes of people at large.  Ready stock flats are usually exhausted with the reputed builders, but one can invest in the ongoing projects in Mumbai so as to get possession in a year or two, time.

The most popular real estate areas where properties remain high in demand are the suburban areas like Chembur, Wadala, Mulund, Goregaon East, Kandivali East, Powai, Vashi, and Thane. For the middle-class people, these projects are still in the affordable zone and that is why the builders also concentrate on coming up with fresh projects in these areas. In fact, ever since the Special Economic Zone and the airport project have been announced, the property prices are gaining momentum in Navi Mumbai too. Even people from abroad are getting interested in Mumbai properties which are also contributing to the shooting prices of property here.

Good construction in a decent location and the rising demand for property is fetching the builders a price increase from Rs 50 to Rs 500 in a one or two months. Indeed, real estate market is at an all time boom in Mumbai.