Thursday, 14 March 2013

Property Prices in Mumbai can Fall

According to the latest survey, Mumbai home buyers in 2012 are estimated to have dropped by more than 60% from their 2007 peak time. The reason behind of Property prices fall is houses and apartments beyond the reach of middle-class families.

Mumbai Real Estate Market is one of the most expensive in India and unsold residential property stock increased year by year, which is giving to hope that property prices in Mumbai may fall, if builders not lowering the prices of built apartments. Most of the investors as well as property buyers wait and watch for the price fall in Mumbai property, just because of unsold property units in Mumbai.

The average apartment cost in Mumbai, Rs.1.15 Crore in December 2012 compared with 85 Lakh rupees in December 2010, a jump of 35%. Only Delhi NCR Region have rise of 46% is more than Mumbai Property Region.