New residential real estate market in Mumbai choice Pace

Real estate companies are launching several new residential properties in Mumbai. The demand for real estate in Goregaon and other suburbs have also increased.



According to real estate, Mumbai will continue to be one of the hottest destinations of investment in 2015, along with Bangalore and Delhi. Investor interest in real estate in Mumbai has been revised due to the federal government's plan to create an intelligent city in the coming years.

Over the past two years, ranking Mumbai, Bangalore and New Delhi have increased significantly in terms of real estate investments. As the PwC report “Emerging Trends in Real Estate Asia Pacific 2015” Mumbai has risen to 11th place. In 2013 and 2014, Mumbai was ranked 20:23, respectively. With the favorable economic expectations and real estate transparent, more investors and buyers to enter the real estate market in Mumbai. Taking advantage of the current market scenario, the developers launched a new residential property in Mumbai.

There were no significant changes in commercial property rates in the city. Last year, the demand for real estate in Mumbai has not changed. However, this does not prevent developers to launch new projects in suburban areas and major cities, including Goregaon. More and more real estate companies launched in Goregaon property because it was converted into a residential center.

As Real Estate Market in Mumbai will perform in 2015?

As an industry report, real estate developers in India face the heat. They deal with high debt and sell the property, offer discounts, prizes and free parking. Aimed at wealthy buyers, most of the projects in the city palaces, precious 1Crore INR and more. Limited buyers luxury apartments, but there is a lot of demand for affordable property in the range of 5-20 Lacs. Because of the lack of affordable and middle-income buyers inability to buy luxury homes, many apartments remain empty, waiting for a buyer.

If reports are reliable, excess inventory for famous companies in the real estate sector in Mumbai amounted to US $8.5 billion. This does not include housing projects in the pipeline. In 2015, some correction in prices is expected because developers will be able to reduce debt through additional capital brought by new FDI regulations. This can help some developers get rid of your debts and the launch of new projects.

Correction specific location will be seen this year in Mumbai. Only a few key locations will be able to claim the cost of the asset. For other sites, the developers have to reduce tariffs or make it more attractive to sell units quickly.

According to a report by Knight Frank real estate, the sale of properties in Mumbai fell by 9% in 2014. In the report, the real estate market of Mumbai is relatively better than the other five cities examined by Knight Frank. The properties of the absorption rate in the second quarter of 2014 increased moderately. Experts predict that the demand for real estate will increase in the city; however price growth remained low in the first months of 2015.