Property Prices In South Mumbai Are Expected To Go Down In Future

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In what may come as a welcome piece of news for those aspiring to buy flats in Mumbai, property prices in the tony South Mumbai belt may go down in the near future as per real estate India reports. South Mumbai has always been known for its unbelievably high prices and limited supply in turn. Property buyers have always kept away from South Mumbai owing to unreasonable charges and land values. Appreciation has been immense in South Mumbai over a period of 10-15 years and it is almost unaffordable to purchase property in several of these premium localities. Several South Mumbai localities may witness a drop in prices with the establishment of the Mumbai Trans Harbor Link as per realty experts. Real estate in Mumbai South has always witnessed some of the highest prices in the country but that may no longer be the case. The drop in prices will have a lot to do with piled up inventory and negligible demand. Developers will be desperate to clear inventory while there will be a lot of discounted activity in the resale market. Developers have already started offering discounts and freebies and this will extend to a drop in prices in the near future. As per upcoming real estate in Mumbai trends, the establishment of the Mumbai Trans Harbor Link or MTHL or the Nhava Sheva-Sewri Trans Harbor Link will also have a big role to play in lowering prices in South Mumbai. This link is a 22 kilometer long bridge that links Navi Mumbai and Mumbai and will definitely be regarded as the longest ever sea bridge in the country post completion.

Realty prices are always checked and corrected through infrastructure according to India property experts. There is no definite information yet on the amount or percentage of correction to be witnessed in South Mumbai markets like Juhu or Bandra. Limited land supply leads to growing capital values and prices in posh areas and the advent of infrastructural projects leads to the opening up of more land for development and this has an effect on controlling prices in these prime locations. At a time when housing growth has slowed down considerably, softening or property prices in South Mumbai is welcome news for aspiring property buyers.

Best New Investment Destinations Near Mumbai

The scenario has been quite bleak when it comes to real estate in India. Mumbai is no exception in this regard. With highly price saturated markets, piling up inventory and lack of demand on part of the mass, Mumbai is definitely witnessing one of its worst realty cycles in history over a period of two to three years. However, there are some great new investment destinations in Mumbai should you be looking for the same. You can invest in flats in Mumbai across several strategic locations that should be the growth nodes of the future. While there is ample property in Mumbai for sale, these locations are being billed as the best investment destinations for those with a nest egg to invest as per property India reports and statistics. A minimum investment of a crore is usually required to purchase property in Mumbai but these destinations will only require between Rs. 20-40 lakhs at the beginning. This should not worry you as this minimal investment will get you unbelievable returns in the near future. Asangaon is set to be a major growth driver of real estate in Mumbai according to experts. This area is a part of Thane and lies along the Nashik-Mumbai Expressway. The locality lies approximately 70 kilometres away from Mumbai city and is being developed rapidly. 2 and 3 BHK apartments are being developed here with sizes between 450 and 1200 sq ft. Properties are available at immensely low prices in this neighborhood in comparison to Navi Mumbai and Thane and the area is home to several manufacturing units and a railway station linked to the Central Line. This locality should offer high returns within the next 2-3 years.

Panvel will also develop further and garner great returns for investors. Panvel is one of Navi Mumbai’s best localities and is well linked to several areas through the Panvel-Sion Expressway, Pune-Mumbai Expressway and the National Highways 17 and 4B. Panvel is also being regarded as an upcoming commercial hub. Ulwe is another residential destination that will offer rich returns on investments to buyers and investors owing to the skyrocketing residential and industrial segments here.

Mumbai Property Prices Cause Stagnation In Realty Market

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Mumbai has always been the most desirable Indian city to live in as it offered a plethora number of opportunities. However over the years ever increasing Mumbai property prices has changed the perception. Due to high property rate in Mumbai hardly anyone is able to afford a property in the city. Earlier only South Mumbai was believed to be out of reach for the common man so the middle class settle for property assets such as Andheri West flats for sale. But with time Andheri West flats for sale also became out of reach due to high real estate Mumbai prices.

Now it seems that high Mumbai property prices are discouraging investors and end-users to look for a property here. Only established localities such as property in Andheri West are witnessing some demand that too due to its proximity to commercial centers. However in terms of capital values of property in Andheri West even this area has seen a price stagnation. Only the outskirts of the city like Navi Mumbai and Mumbai Thane are witnessing an appreciation in property rate in Mumbai rest all the sectors are virtually seeing a stagnation in the market. 

Real estate Mumbai prices are getting more and more expensive with each passing day. For a common man who is looking to buy a small apartment  of about 600 sq. ft. of space in Mumbai, looking at the average property rate in Mumbai he will have to shell out the minimum required corpus Rs 1 crore if he looking for a house in a decently established society. High Mumbai property prices are forcing Mumbaikars to movie to the outskirts and fringes of the city. Its only in places like Navi Mumbai and Thane where one can think of buying a property at affordable real estate Mumbai prices.

Abhishek Bachchan Buy a Property Worth 41.4 Crore

The preferred choice for investment for Bollywood stars has always been real estate in Mumbai. Abhishek Bachchan has too booked a luxury real estate Mumbai property in a Worli project. It is estimated that that Mumbai real estate investment cost the actor Rs 41.14 crore. The approximate rate for real estate Mumbai property is Rs 1.06 lakh a square feet for 3,875 square feet real estate Mumbai property. The flat in the upcoming project is on the 37th floor in Skylark Towers which are located in prime Mumbai real estate location Annie Besant Road. The 5 BHK property has a dining and living rooms, family room, wet and dry kitchens as well as 20 feet terraces. This project is one of very few project in real estate in Mumbai where housing authorities have allowed such unusually huge terraces.

The upcoming project Skylark Tower has two wings, each tower will be 67 floors high. The project is being built by Oasis Realty. The company is a joint venture between - realtor Sudhakar Shetty and developer Vikas Oberoi. It is believed that the stamp duty paid on the Mumbai real estate properties comes out to be a little more that Rs. 2 crore. Also the actor will have to pay a separate fee for the clubhouse membership for Rs 25 lakh. The sale agreement also specifies development charges of Rs 35 lakh. This is not the first time that a Bollywood actor has pumped money in real estate in Mumbai. Previously several stars including Hrithik Roshan, Shahid Kapoor, Vidya Balan have invested heavily in Mumbai real estate. Although some stars prefer to invest only in bungalows and independent house others don't mind investing in luxury flats and penthouses. But it is quiet clear that Bollywood is keenly interested in Mumbai real estate.

Properties in Mumbai Witnessing an Upsurge in Investment and Slump in Buyer's Market

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The market for Real Estate Mumbai Property that was lying low due to excessive inflationary rates, has, now, managed to come out of its box: the recent deal worth 57 crores for a duplex flat says the same story. Considered as one of the larger-than-life-life deals that Indian realty market has ever witnessed, the conception about the city that the demand from the elite has died away has been falsified. Though the rates are still skyrocketing, thanks to the huge capital rates, the NRI segment has kept the demand all high by striking hefty investment deals. The investors from countries like Hong Kong and United Kingdom have shown inclination towards putting their money into ultramodern apartments and commercial arcades.

The recent tie up of Donald Trump with India's Lodha Group is yet another proof that foreign investment is indeed there to save Mumbai properties from sans buyers situation. This infrastructural company had earlier done a deal in Pune, and now Trump has chose Mumbai as their next target. The project comprises of ultra-luxury residential complexes that would be meant for elite or affluent class. Lately, the craze of Indian developers to get themselves associated with some world-renowned brand name is going too high.

This was all about high-end property projects. But if the properties in Mumbai as a whole are  taken into consideration, there are only a few reasons for smiling for developers and builders. The inflation has gripped Indian economy very well, and it is the middle class that has to bear the brunt. Like other cities, properties in this city too are undergoing a down-phase in the buyer market. The demand has stooped to a low value, thus making the supply in excess. The prices are not getting corrected, and in light of that the demand-supply ratio has gone out of proportion. On searching some property sites, you will see that the rates have exceeded all the limits in South and Central Mumbai.

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