Rs.12000 Per Sq Ft: New Normal Rate in Mumbai Realty

bigimg12000 Per Sq Ft: New Normal Rate in Mumbai Realty

By siliconindia   |   Thursday, February 14, 2013   |    1 Comments

Bangalore: Over the years, the real estate market of Mumbai has gone through several changes. There are changes in landscape where cities are expanding their limits; building construction where conventional structure made a shift into luxury apartments coupled with amenities and so on, but the maximum change has been observed in the real estate pricing. The financial capital has become unaffordable for many. Day by day property prices are heading north. There was a time when properties were available between rs6,000 and rs7000 a square feet in Mumbai’s central suburbs but now the same place is quoting prices of rs12,100 per square feet. The transformation in prices have been accepted both by home buyers and investors where rs12,000 a square feet has become a normal price in residential market.

The real estate market of Mumbai is one among the costliest realty markets in the world where property prices have gone beyond rs100,000 per square feet in prime residential areas like South Mumbai. Besides, South Mumbai is one of the expensive residential localities in the world as well as home to the billionaires like Ambanis, Tatas and the Birlas, reports Raghavendra Kamath of Business Standard.

Also Read: Nearly 83,000 Inventories Are Still Unsold In Mumbai 

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