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Residential Property Market In Mumbai

Tuesday, May 12, 2009

Residential Property Market In Mumbai

India is the largest country of south Asian region. Its economy has shown a constant upward trend in the last decade or so. Most of this gain in economy is started after India emerged as one of the I.T giant of the world. The positive effects of this development in economy of the country are perceptible in every business sector including the property market. Mumbai, which is acknowledged as the commercial capital of the India, has gained the attention of the investors of the world together with those who prefer to invest in property market.

But what could the main reason behind Mumbai becoming investor’s paradise in India? The answer is simple one. The market of Mumbai offers high investment returns to the investors including real estate investors. This is the core reason why Mumbai is exerting a pull on investors from all over the India and world alike. Real estate investors do have adequate incentives to invest in the Mumbai property market. Currently it is the most populated city of India and Mumbai and its suburbs encompass the second-biggest urban agglomeration in the world after Tokyo. And the rate, at which its population is budding, points toward the increase in the demand for both commercial and residential properties in Mumbai.

India’s property market has been among the hardest hit by the global financial turmoil as high interest rates and gloomy economic prospects have driven out buyers and squeezed funds for real estate developers.

Through this year, property prices have already declined more than 10-20%, though in cities like Mumbai and Delhi, prices are still too high for a middle class consumer.

I feel investment in Mumbai property market can never be a loss.If you have are planning to invest in the market then do not wait further just go ahead & do it with a good builder.

And if you have already done the investment then be patient & wait for the right time for returns.