Of all the property markets of India, the one that exerts the greatest pull from investors around the world is Mumbai. The main reason why Mumbai and its peripheries have come up as real estate paradise in India is the great returns on investment it offers. A decade ago, Mumbai real estate could only be afforded by the High Net worth Investors. But now that the development has started in its suburban peripheries, a middle class person can also think of investing his money here.
Property in Thane Mumbai, Ulwe, Kharghar, Mahalaxmi, etc. stand as viable options for them.
Although Mumbai still stands as one of the costliest real estate markets of the country, the prices have seen a great improvement over the last one year. According to the Investors Clinic Price Trends Graph, the average property price for Mumbai for the month of July was recorded at Rs 8,400 per sq ft. During the same period in 2014, the price was Rs 8,630 per sq ft. After that the graph underwent several ups and downs. Prices shot up after Jan ‘15 and reached the highest of Rs 8,963 per sq ft.
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As far as the property market beyond Thane is considered, prices have stayed comparatively affordable at only Rs 3,855 per sq ft. Being a suburban location, prices here stay quite low at times. The posh residential location near the Mumbai harbour area recorded an average property price of Rs 17,848 per sq ft. South Mumbai is another location that speaks of sophistication. Prices here were recorded at Rs 34,341 per sq ft. The localities in and around Navi Mumbai are the most popular these days. It includes Ulwe, Kharghar, Panvel, Ghansoli, Airoli, Vashi, Nerul, Sanpada and many more.
Even when some parts of the city are out of the reach of middle class buyers, some localities still offer better homes at comparatively affordable rates. Especially the peripheries of Mumbai have come forward as the center of attraction. The price trends also show that it is now possible to own your dream home in the city of dreams.
Read More About……..Property Price Trends in South Mumbai