Mumbai Real Estate market bounces back after slump

Q: Great News!!!! Mumbai real estate market recovers well after a slump!!!!

Rakshit, Mumbai

29th January 2014

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Replies (3)

Hi Shantanu,

Did you know that reputed builder Lodha Group just offered pricing around Rs. 22,000 per sqft for their project in Lower Parel when other ready to move in were charging about Rs. 30,000. I think this was just to stay in the game and overcome cut throat competition from its rival group.

Vinay Dixit, Mumbai

29th January 2014

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True Mr Vinay!!!

Same was the case with property prices in Andheri too. Since many new projects were launched, customers have more choice and options. I heard that approx 34 projects were launched in last year and 60 more projects are expected to take off in next 6 months. This itself indicates that real estate market is keeping pace with time and is looking good and buoyant.

Ravi Waghmare, Mumbai

29th January 2014

Hey by the way did you hear that after a 5 year low level, the real estate market has gained momentum and surged to reach 80% level which is really amazing. Overall statistics says that there have been a record growth of 11.7% in property values. Sales picked up remarkably and trend showed aggressive pricing by reality developers with many new project launching at this point of time.

Shantanu Kumar, Mumbai

29th January 2014

Comment

Hi Rakshit,

How are you doing???. Good news to hear that Mumbai property prices are back on track after a dull season. It all happened only during last 3 to 4 months starting from Dushera festival and not before that. The real estate market was going through a gloomy period, untill things took a dramatic turnaround in last quarter of the year.

Ashish Bhoite, Mumbai

29th January 2014

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Yeah Mr Ashish,

Finally there is some good news for real estate market." Whatever happens happens for good". I was wondering when the property market would wake up from the slump. Thank God!!!! It happened and not too late.

Arup rajan, Mumbai

29th January 2014