Property in Mumbai is the money making center of the country and home to the Indian film industry, has always been a favorite option for purchasing, selling or renting properties in India. It is standard as an IT/ITES hub and this has led to a flourishing insist for properties. Although the skyrocketing real estate prices, the city has something to suggest for every class of the society to spend in real estate. Due to huge scale urbanization in the suburbs, Mumbai is estimated to see very high order for residential space of about 16.40 lakh units. The mid-scale and affordable housing in suburban and marginal areas will be the focus of this demand. The eastern suburban areas of Navi Mumbai, like Kharghar, Airoli, CBD Belapur, and Sanpada which have been receiving a set of infrastructural developments, occur to be good investment options. Rates in Navi Mumbai range between Rs.5000 to Rs.15000 per sq ft. While the North Western and Eastern suburbs carry on to be the ideal locations; in Mumbai, the demand has continued and there are some new projects coming up in South Mumbai. And, Central Mumbai areas e.g. Wadala, Sion etc are coming up with new housing ventures. Navi Mumbai is receiving the superior split of the pie, as most of the real estate projects are coming up here and the prices are affordable as compared to Mumbai.
Buying property has always been a expensive issue but the recent sale of a 4-BHK apartment in Mumbai for Rs 34 crore has set new principles for the sale of land. Last week a 3,475 sq ft apartment at NCPA Apartments at Nariman Point complex was sold for the mysterious sum.
A Non-Resident Indian blissfully paid this sum after a destructive bidding session. Actually he had wanted to buy this flat in NCPA for some months and had earlier expressed his attention in a flat on the 21st floor. This deal has made NCPA the classiest locality in Mumbai, rather India. The next major expensive building after NCPA is Villa Orb situated at Napean Sea Road, Mumbai. The regular apartment size at this time is 7,500 sq ft; the per sq foot price will come to about Rs 56,000. Lodha Developers' Solitaire is situated in the same region and is pegged at about Rs 55,000 per sq foot.
Another record real estate deal Property in Mumbai was struck at the Bandra-Kurla complex. The primary plot here was sold for Rs 5.04 lakh per square metre. The 16,500 square metre plot fetched Rs 831 crore in total. This portion of land was picked up by Wadhwa Builders. Market watch-dogs say that these have paid 229 per cent senior than the keep price. Reliance Industries picked up the second plot for Rs 918 crore. This deal comes for Rs 27,917 per sq ft.
Buying property has always been a expensive issue but the recent sale of a 4-BHK apartment in Mumbai for Rs 34 crore has set new principles for the sale of land. Last week a 3,475 sq ft apartment at NCPA Apartments at Nariman Point complex was sold for the mysterious sum.
A Non-Resident Indian blissfully paid this sum after a destructive bidding session. Actually he had wanted to buy this flat in NCPA for some months and had earlier expressed his attention in a flat on the 21st floor. This deal has made NCPA the classiest locality in Mumbai, rather India. The next major expensive building after NCPA is Villa Orb situated at Napean Sea Road, Mumbai. The regular apartment size at this time is 7,500 sq ft; the per sq foot price will come to about Rs 56,000. Lodha Developers' Solitaire is situated in the same region and is pegged at about Rs 55,000 per sq foot.
Another record real estate deal Property in Mumbai was struck at the Bandra-Kurla complex. The primary plot here was sold for Rs 5.04 lakh per square metre. The 16,500 square metre plot fetched Rs 831 crore in total. This portion of land was picked up by Wadhwa Builders. Market watch-dogs say that these have paid 229 per cent senior than the keep price. Reliance Industries picked up the second plot for Rs 918 crore. This deal comes for Rs 27,917 per sq ft.
