Real Estate Trends in Mumbai
Mumbai is known for being the prosperous and luxurious city of India and hence it is named as the financial capital. A less-known fact about Mumbai is that it is the fourth most populated city in the world. Thus, one can only imagine the needs and wants of the people it shoulders every day.
With population increasing exponentially, the real estate market is growing gradually. There has been constant fluctuations in the real estate pricing in Mumbai and at present, there has been a sudden rise in demand and many developers and architects are looking for land parcels in the past few years. Another reason for such a demand could be the expectations for a stable government set by the central government. The three major factors that determine property investment in Mumbai would be: demand, prospective land growth and pricing. Taking these three factors into consideration, the best investment destinations in Mumbai now deliver at different levels.
Mulund is known for its well planned localities and hence becomes the most preferred land for all the buyers. It maintains the perfect symmetry between residential and commercial spaces. It is known for its well-connectivity with good network of trains, BEST buses and roads which also includes a national highway. Although it provides houses to buyers from middle-class, it offers multiple residential options in addition. It offers a very tranquil environment to its residents which therefore appeals home buyers.
Mulund also offers great accessibility to suburbs and other good cities. Because of its ever-growing infrastructure, the commercial sector in Mulund is now picking up. Apart from which, Mulund also houses excellent recreational and entertainment facilities. Since many reputed builders in Mumbai have constructed desirable apartments in Mumbai, even large and small residential projects, it is known as 'the Prince of Suburbs. Despite the fact that it houses variety of residential projects, the residential market is still considered affordable as opposed to other places in Mumbai.
According to the experts of real estate, it is predicted that the large players and comglomerates would play a great role in changing the trends of real market in Mumbai in 2015. The real estate construction market is said to increase by 20 percent in the next two years. Considerable amount of new real estate projects has already shot up in the Mumbai suburban district. Furthermore, these new projects have drifted away from the conventional economic centre in Mumbai and have begun to occupy places such as Ghatkopar and more.
Ghatkopar is the richest suburbs in Mumbai. At present, Ghatkopar offers many residential projects, eateries, elementary schools and cloth shops. Through perfect combination of commercial and residential projects, Ghatkopar is now competing with the other areas of Mumbai. Mumbai is considered as the India's most livable city because of it's superior transportation network and has an excellent business environment. Thus, India's financial capital is also voted as one of the world's most attractive cities since it caters to the needs of professional and personal lives perfectly.