Published on: 17 October 2014
The real estate market of Mumbai has seen stability and healthy market trends in 2014 and expects it to sustain, going forward. There has been high optimism pertaining to the property market in 2014. Many long awaited projects were launched in 2014. Almost after 2 years, BMC has sanctioned many pending plans, which helped the realty market pick up considerable pace in 2014. With the new launches hitting the real estate market in 2014, there has been a definite improvement in customer sentiment. Property market of Mumbai has seen high demand in 4-5 BHK luxurious apartments, ranging in 1-5 Cr., on the other hand, in the outskirts, 2 to 3 BHK units are more in demand. Lately, there has been a steady supply of high-end luxurious properties in the Mumbai market.
Affordable housing is in demand in Mumbai. All-round reforms from the government are on the cards, especially administrative, land, fiscal, tax, and banking reforms, which should boost growth and help in reduction of property prices. Highly metropolitan culture, which is slowly turning cosmopolitan, coupled with great infrastructure and the feeling of being in the financial capital of India makes Mumbai a lucrative real estate investment destination.
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