Inflated property pricing in Mumbai piling up inventory: IndiaProperty.com

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Updated: August 12, 2016 11:15:15 AM

IndiaProperty.com has said in a finding that slow property sales and inflated pricing has led to buyers in Mumbai postponing their property buying decision considerably resulting in an inventory pile-up of 46 months.

real estate projectsIndiaProperty.com finding also said that majority property buyers in Mumbai are seeking homes ranging up to 30 lakhs. (Reuters)

IndiaProperty.com has said in a finding that slow property sales and inflated pricing has led to buyers in Mumbai postponing their property buying decision considerably resulting in an inventory pile-up of 46 months.

The finding also said that majority property buyers in Mumbai are seeking homes ranging up to 30 lakhs. The survey captured the property trends within the Mumbai MMR region.

IndiaProperty.com analysed data across localities in Mumbai to arrive at the top favoured destinations by home buyers in the city. The data also identified the top investment destinations across the Mumbai region.

Here are the highlights of the study by IndiaProperty.com on Mumbai region
-During the first half of 2015 the government has initiated a number of infrastructure projects that will drive sales across Mumbai region like the Coastal Road Project from Nariman Point to Kandivali, clearance of Navi Mumbai Airport
-The top investment destination across Mumbai include Panvel, Kalyan, Nalasopara, Kharghar, Mira Road, Dombivli, Kamothe, Ulwe and Sanpada
– The Maharashtra Government plans to develop Mumbai as a gaming and animation industry hub – leading to job creation and investment opportunities thereby increasing the demand for residential and commercial units
– An additional 200% FSI (Floor Space Index) for IT parks thereby reducing the rentals for commercial properties

 

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