Mumbai real estate is witnessing a distinctive situation of demand and supply. With the reliable launch of new projects in housing area, Navi Mumbai real estate market is likely to experience a flood in 2013. As a result, real estate developers who have launched projects in the most likely affected areas are planning to sell the properties at lower price rates.
Real estate properties in Mumbai springing back from the realty fall in early 2009 due to economic slowdown, and then started to a steady increase in the prices until the mid-end of 2010. During this time interval, developers in Bangalore, Mumbai, and Delhi had a greater economic growth. But now Developers started to turn their mind on the residential properties due to the extended slump in the commercial properties. Targeting on the home markets, developers in Mumbai Real estate purchased lands at expensive rates and launched significant number of residential properties. Andheri East, Mahalaxmi, Goregaon East, Mulund, etc are already seeing a plunge in the real estate prices. After crossing the peak values by 20% in terms of correction in 2008, the prices have now dipped to 2008 peak levels.
Despite a slowdown in the economy. Mumbai is a true powerhouse of Indian Business, Trade, and Industry. Located along the costal line of Arabian Sea, it has been the commercial capital of India. All the major financial institutions such as stock exchange and banks are located here. Mumbai City Real Estate in the recent times has assumed world fame because of increase of corporate outsourcing from industrialized countries and a worldwide increase in demand for Real Estate Property. Mumbai is known for its cosmopolitan atmosphere, where people not only come from Mumbai cities and settle but from all over the world.
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