A Flat in Upscale Mumbai Costs More Than a Flat in Burj Khalifa!
Bangalore: If you are thinking that overseas property costs more than properties in India, then it’s time to think again. A flat in the world’s tallest building, Burj Khalifa in Dubai might cost less than a flat in Mumbai’s upscale residential locality, Bandra, reports Aabhas Sharma of Business Standard.
For Indians, Dubai has emerged as a hot property destination in which several high net worth individuals (HNIs) show interest to invest. And, Dubai property offers good amenities and advanced infrastructure in lesser price than a property in Mumbai. For instance, a three bedroom apartment (3BHK) in Mumbai’s Bandra area quoted price bracket of around 4-5 crore (40-50 million) whereas, a similar kind of property in Dubai would charge almost half the price that quoted in Bandra, coupled with better facilities.
Dubai property was out of reach for most Indians, even if they had enough money to buy property overseas like in London and Singapore, till the year 2008. But, only after the economic depression in 2008, things took a different shape. For example, a studio apartment of 500 square feet in Burj Khalifa was available for around 1 crore (10 million), till last year.