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Real Estate Forum on Lincoln House

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Q: The purchase of Lincoln House take place when home prices in Mumbai are starting to drop.
Latest Answer: The property rate trends in London, New York and Mumbai is that prices for prime properties in prime locations have never seen a drop. Even in the worst times of recession there is always a demand and always takers. They hope to improve the appearance of the front but they can not demolish it. They might build another floor, but that is all dependent on the permissions by the Maharashtra Government.
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Q: South Mumbai property, Lincoln House at Breach Candy, being finally sold about Rs 100 crore below its initial reserve price of Rs 850 crore.

Latest Answer: The deal came into existence after the US Consulate shifted into its new premises in the Bandra-Kurla Complex, it had put up 2 of its South Mumbai properties Lincoln House and Washington House for sale in June 2011 with a reserve price of Rs 850 crore and Rs 350 crore, respectively.
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