Mumbai real estate value to go up 6% this fiscal

Q: As per Global Real Estate firm JLL INdia, Mumbai Real Estate Market would appreciate 6% this fiscal (2015-16).

Kaushik Bardia,

21st May 2015

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Replies (2)

Good Evening Guys,
In some areas, builders are offering discounts up to 10% on the base price of a property to buyers who are serious about making purchases.

Other buyers can negotiate the floor rise charges, get them waived off by the authority concerned or those who are not in hurry can book a flat of his choice at the pre-launch stage of a project at competitive prices.

Sujan Mitra,

21st May 2015

Comment

Right Sujan,
It is also revealed that the pre-launch stage schemes' were popular as buyers would have to pay only a small % of the total amount and get a risk-free investment opportunity. The schemes also allow developers to get buyers and cover the interest rate customers have to pay to banks on housing loans.

Kaushik Bardia,

21st May 2015

After so many schemes and offers, new locations in outer areas like Ulwe, Kamothe, Karanjade and Dronagiri in Navi Mumbai command better price appreciation than in established locations, thanks to the upcoming international airport in Navi Mumbai and the Mumbai trans harbour link.

Sujan Mitra,

21st May 2015

But Kaushik, now-a-days there is a competition to speculation between the buyers and investors that housing property prices may further dip in the city and as per JLL speculation there would be 6% appreciation in Mumbai Real Estate Market. How?

Lewin G,

21st May 2015

Comment

Right Lewin,
Even i read in zeenews.india.com that JLL research indicates that residential prices prices across the city would start moving upwards from second half of FY 2016. They also speculated that the residential property market would see buying back in the next 6 months.

Kaushik Bardia,

21st May 2015

@kaushik,
They also express their view in a statement that inquiries for residential property is rising and builders are hoping that the market would recover in the coming months. However , many of them getting many customer by offering discounts, freebies, waivers and attractive schemes to book orders.

Lewin G,

21st May 2015