subject: Mumbai Property Rates [print this page] Mumbai is the industrial capital of India and also a economic centre of India. Mumbai's population is approximately 2 Crore 5 lacks as per the survey carried out in July 2011. There are many sectors and small workplaces present all over Mumbai. Due to both Economic and Commercial development of this city, real estate charges are always increased.
Mumbai Real Estate rates are second top in the world. People favor to buy in Mumbai Properties due to good results and ease of commuting. Examine to other Metro cities like Delhi, Bangalore, Chennai, rates of Property in Mumbai are much higher. Due to excessive job possibilities, secure living environment, fast and happening life, good returns on real estate investment and various mode of transportation makes Mumbai real estate rate much higher than other cities. Nuclear family is the other reason for the high property rates in Mumbai.
Both primary and secondary real estate market are quite energetic in Mumbai. Primary real estate market is usually enticing for investors in Mumbai, while secondary real estate market is mostly desirable due to redevelopment factor and lease rental. Both the markets have huge scope and good earnings even if the rates are higher. But now a days residential crisis is the important problem for Mumbai. As a result we can observe very few projects which have adequate open space around.
From the funding purpose Mumbai city is preferable due to its good returns. As per the statics, real estate properties in Mumbai give more than 10% of returns every year. Also commercial real estate sector is in massive need as Mumbai is the financial hub of India. Ample number of oppurtunities is mainly responsible for people to migrate here and results in the high cost in real estate. So if you are also planning to invest in real estate market then Mumbai Real estate sector wont put you down.
