The metropolitan city of Mumbai is seeing a high time real estate boom. It reflects the growing real estate sector of India. There is a considerable increase in demand and supply and an appreciation in real estate values across micro markets. After Delhi and Gurgaon, Mumbai is the next favourite hub and people are moving into the city in large numbers day in and day out. Investors and HNIs have been investing in various pre-leased properties having insurance, banking, IT/ITES, residential and retail sector occupants.
When compared to any other real estate market in India, Mumbai property sector is considered to be very transparent. In the last couple of years there has been an increase in the cash component in transactions. The large demand and the provision of state-of-art flats in Mumbais most posh locality or even in the outskirts of the city, has led to the land prices in Mumbai go up considerably. The investment market has been thriving with returns increasing manifold over the past few years.
The classic example being, an investor who invested in Peninsula Corporate Park, Lower Parel two years ago at Rs 5,000 per sq feet, has enjoyed a capital appreciated...
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