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Real Estate >> News
The Present Day : Mumbai Real Estate Shows Sign of Price Correction!!
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siliconindia
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Friday, December 13, 2013
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Mumbai, the financial capital of India has been one of the most sought after locations for a gratifying occupation and habitation. This city has been reckoned to be an alpha world city and it is known for its expansive and urbanized metropolitan region. Along with the sprawl of business districts in this city, the residential localities have also expanded to accommodate the continually increasing population.
Over the last two decades, the property prices in Mumbai have incessantly risen and gone beyond the reach of a common man. Today, owning an asset in the busy residential estates of Mumbai is no less than a dream for the middleclass salaried professionals. However, as a consequence of the mounting unsold inventories, there has been a new wave of hope for affordability in Mumbai's residential market.
A good hope factor in Mumbai has been witnessed to be surfacing amongst the home aspirers who are now receiving discounted and more economically priced residential units. The reports of market watchers and realty consultancy services suggest that the developers in Mumbai are willing to slash the price slabs of their projects which are ready for possession in the present day.
As reported by Domain b.com, the price correction has not just been realized in the current projects but also been effected for the projects to be launched in the future. The upcoming projects are being priced lower than the ones which are ready to be owned in the realty market. The Mumbai real estate market has been observed to be maturing and shifting gears to advance into a trading market which sustains itself on the foundation of a healthy equation between demand and supply of assets.
Along with the stabilizing price graph in Mumbai, the buying trends are expected get reassuring for the expansion of projects to be developed in the future. A mix of factors like the price correction, moves to tether the inflation and easy availability of home loans have substantially aided the positive sentiments to resurface in the Mumbai residential market. The coming years, along with the political stability to be realized post the general elections are expected to bring in prospects of further growth in real estate sector of Mumbai.
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