1 BHK Flats In Mumbai: A Pricey Affair

Early development of the suburbs

The realtors who foresaw the growth prospects and forecast the demand for residential and commercial space during that period therefore went all out in developing these areas. The demand that is being witnessed for 1 bhk apartments in Mumbai has been due to the development of the area in the initial period.

Mumbai is therefore witnessing consistent demand in areas like Vasai, Punvel, Goregaon and many others including Virar. The demand is such that 1 room flats have been selling for over thirty lakhs in Goregaon.

Exponential rate increase of Mumbai real estate

 The demand for real estate in Mumbai has been so substantial that there has been an exponential rate increase in the per foot area in flats in the suburban areas mentioned above.  The demand and therefore the rise in land prices are quite perplexing since there has been a drop in the occupancy of apartments in the last 1 year.

1 bedroom houses in the suburban areas of Mumbai have been fetching as high as five thousand rupees per square foot. Since the properties are relatively high in almost all the Mumbai suburbs, it is pertinent to look for that accommodation that is well equipped with all the facilities including power backup. For more information on Mumbai properties, please visit www.indiahomes.com