Real estate in Mumbai shows positive signs!

Q: Yes, it seems that real estate looks for a revival.

Ketalpujara, Mumbai

2nd December 2015

Real estate News in Mumbai

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real estate in mumbai shows positive signs

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Replies (2)

Hi Puneet and Harmeet,
But this trend is not seen everywhere as domestic price is not that cheerful. Local property brokers in Mumbai also look less convinced as markets continued to be slow.

James, Delhi

2nd December 2015

Comment

Yes, and it will be for 2-3 years. Housing prices will not go up over the next two-three years as builders continue to focus on clearing their inventory.

Puneet Laskar,

2nd December 2015

Right Puneet,
And the result is infront of us. A price correction of sorts has already happened and given that the capital values have not gone up in the last 2-3 yrs. in spite of an annual inflation of 5-8%. Fence sitters have started taking calls on purchases.

Harmeet Kaur,

2nd December 2015

Now i understand. And because of that Mumbai managed to sell 16990 units under new launches or in primary market in the last 4-qtrs ending September 30 as against 13290 apartments in the previous 4-qtrs.

James, Delhi

2nd December 2015

This is because of direct discounts of around 10% and lowered interest rates attracted consumers to Mumbai property market.

Harmeet Kaur,

2nd December 2015

Comment

Right Harmeet,
Apart from that, reduction in apartment sizes and falling interest rates pushed total residential property sales in the last 4-qtrs by 28% compared with the corresponding period.

Puneet Laskar,

2nd December 2015