Real Estate market of Mumbai is probably set to repeat its story of high prices and few buyers. Property experts believe the market is overheating again, breaching the peak level as developers show no sign of lowering prices despite poor sales. CRISIL report recently says that the sales of now homes has declined 40% between March 2011 to Feburary 2012.
Property research agency Liases Foras shows average property prices are 15% higher in Mumbai and 30% higher in the Mumbai Metropolitan Region (MMR) over their previous peak in June 2008.
In Mumbai there are the localities which have shown the huge boom in the residential property sector for purpose of property investment. Such as Mulund East is witnessing a lot of investment from end userd in the hope of a reasonable appreciation in the long-term. Located in Navi Mumbai, the locality scores on availability of facilities like market, schools, colleges and hospitals. In short its connectivity to the Eastern Express Highway is a major factor boosting demand here. In next five years we can expect the appreciation in 2BHK between end users. The residential property in Mumbai locality of Mulund East is under-constrution and will have amenities like children's park, gym etc within the township. Few users questioned about investment in 1/2BHK apartment in Mulund. To this the other users replied – it is one of the best localities of Mumbai with access to central suburbs like Kalyan, Western Suburbs till Borivali and Navi Mumbai.
Mumbai Real Estate also provides the options for the end users to invest within Rs. 15-20 Lakh Budget:
There are few end users who want to invest there hard earning in few other property in Mumbai having the budget within 15-20 Lakh for this the developers has come out with different residential projects. As some of the end user are looking for an apartment in Mumbai outskirts within a budget of 15-20 Lakh? Market sources have recommended the localities like Khopoli, Badlapur, Karjat and Panvel among others. These areas are scoring an affordable housing options, proximity to weekend destinations and rise in infrastructure developments.
There are some such user who have a query about investment close to Rs 20 Lakh and they also think better to buy a flat in Virar, New Panvel or they should buy a plot of land in Khopoli? So the suggesstion is you can also search for 1BHK options in Khopoli and Mira Road.
A user on GuruTalk wanted to know a safe place to invest in Mumbai within a budget of Rs 15-20 Lakh. To this, Mr. Ashok Chhajer, CMD of Arihant Superstructure Ltd. said: You can have a look to Badlapur, Karjat, Khopoli and Panvel. You can get 1BHK in this range.
Home buyers who shows interest in Badlapur, it is one of the growing suburbs of Mumbai as it is witnessing to lot infrastructure developments. Some development taking place near here are skywalk at raliway stations, managment colleges, schools and so on. In short the capital value of apartments in Mumbai is soon to see a huge high in investment purpose of view.