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Property in Mumbai

Property in Mumbai : Mumbai which the most populous city in India is home for almost 20 million people. This city is also known as entertainment hub hosting Bollywood, which is our version of Hollywood. It derived its name from MahaAmba, which is the name of Goddess Mumbadevi and second word is Aai that means mother in Marathi language.

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Real estate market is having great potential here as it is also known as financial or commercial capital of India, hosting financial institutes like RBI, i.e. the largest government bank in India. Apart from that mother of all stock exchanges SEBI and various other multinational companies have made Mumabi their hometown.

Property here, just like rest of the parts has boomed since 1991 after government policies were changed and made more liberalised. Prices keep on rising because of huge demand and ever shrinking space as this city contributes 33% of total income tax collected by government along with almost 60% of customs duty. This indicated people here have money to spend, but lesser space availability tends to increase in property prices in Mumbai.

One more interesting fact about this city’s realty market is though there is appreciation in the prices of completed projects and even resale of completed flats, but under construction projects have seen 15% dip in demand price according to recent survey.

Finally if you are looking for buying property in Mumbai though you have to pay huge amount, but looking at financial opportunities here price should not be a issue.

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