Friday, June 24, 2011

Property Prices in Mumbai

With the sound awareness created by various real estate media reports in the last few months, most investors are now playing a wait and watch game for some market correction in some pockets in the city. Property prices in Mumbai have risen considerably, especially for luxury properties at prime locations. As the asset bubble gets bigger, inflation in rates is being seen in commercial as well as residential real estate. This is due to the main reason that input costs of building and construction like cement,
steel, etc. have also increased at a considerable rate.

Dnyan Mandir road, Dadar
While prices in some of the areas such as Borivali, Thane, Kurla, Panvel, Mulund, Goregaon are stable, others such as Dadar, Mahim, Elphinstone Road, Lower Parel are still climbing up the price ladder because of their importance as commercial hubs for business. Even properties in Navi Mumbai show a steady growth in prices as the talks of an airport escalate. As developers, realtors, and builders are busy in meeting the ever increasing demands of the consumers in terms of infrastructure, amenities, facilities,
space, and style of the complexes, investors from the different segments of society are wondering if this is the right time to invest. This in no way has deterred the minds of some of the consumers of residential properties, as it is a fact that no matter when or for how much a property is bought, the prices of real estate in the Capital are only set to rise in the coming years.

Even though affordability and interest rates on housing loans are becoming more of an issue, the type of international standard projects at locations around the city are luring investors to make the bet. Looking at the shifting trends in the market, developers and major builders of the city are offering freebees, and attractive discounts in addition to the already improved professional approach and trustworthy assistance towards the investor. Real estate companies are tying up with the best in the business from the around the world, to make each project contemporary and packed with ultramodern amenities.

With property prices in Mumbai touching the sky, investors in commercial and residential projects are more aware of the market and developers. The consumers no longer only looks for a good location, builder, and amenities, but also takes interest in knowing if the property has all the clearances in place and is feasible for commute to the workplace.


Saturday, June 11, 2011

Commercial Space for Sale in Andheri

According to one of the leading newspapers of the city, “Four of the biggest commercial transactions in the last quarter were in Andheri East, not Nariman Point, Lower Parel, or Bandra Kurla Complex”. There are already plenty of commercial offices in Andheri, but with The World Bank wanting to develop the area as the next business hub of Mumbai, and the ever growing demand in commercial space for sale, East and West Andheri are set for growth in the coming times.

Andheri has a lot of advantages over other places in the metropolitan. Some of these benefits cannot be overlooked. Namely, the connectivity the area has to the Western Express Highway, the domestic and international airports, railway stations, and now the metro junction has made it a top of the order target for business setups. From IT / ITES companies to corporate houses, all are bidding big bucks for a piece of the action, and developers and realtors are busy meeting the high quality demands being made.

The Summit - Business Bay, Andheri
This shift of preference from places like Lower Parel and Nariman Point to Andheri is largely taken forward by the economy and availability of large spaces for commercial activity. In addition to this, Andheri also has concise housing areas that are yet free from traffic jams and preserve the typical gullies Mumbai was once known for. Having good infrastructure facilities and recreational activities, developers are finding it easy to build high quality complexes in this potential goldmine. Redevelopments and new residential project here provide high standard living at reasonable rates as compared to the town area.

Being centrally located, Andheri is the obvious choice for retail outlets, business associations, restaurants, malls, as well as residential societies all blending in with the contemporary lifestyle. Developers who have launched and are set to launch residential and commercial complexes here have kept in mind that their audience varies from the salaried class of society to the most affluent clients.

With a fleet of commercial offices in Andheri, the availability of commercial space for sale here is being taken care of by most reputed developers of the city with great construction activities, who want to cash in on the rising property prices. Despite the up - swing in real estate rates all around Mumbai, neither the demand seems to die down, nor
the enthusiasm in buying property as investment or commercial use.