Mumbai

The real estate market has an upward trend and has triggered the increase in the value of residential properties. The congestion of main Mumbai City has turned people to the suburbs to meet their residential requirements. In today's scenario, for residential development, the most likable location is the suburbs.

With focus on township, large residential townships are constructed in suburban areas like Bandra, Khar, Powai, etc. Within short time, the prices of residential properties have increased at the phenomenal 50 - 80%. Owing to the following factors, the residents aspire to hold residential property in Mumbai -

• People in foreign trade via ships / ports wish to own a place in Mumbai.
• Various educational institutions of international repute.
• Sound connectivity at both domestic and international level.
• Presence of various MNCs in the city.
• Soaring real estate rates so perfect for investment requirements.
• Conversion of mill area into residential complexes. This results in availability of larger floor plates at much lesser rates.

The demand for industrial property is soaring high due to rapid industrialization. There is an increase in industrial property rates as government offers full support to establish various industries. The tax rebates, concessions and other facilities to establish various industries have triggered boom in the industrial property rates.

Collared with soundly networked sea port, national and international airport, Mumbai is one of the most sought after place in world to establish any industry. Moreover, SEZs i.e. Special Economic Zones as laid by government for special industries is also one of the reasons for the hike in industrial property.

Driven by the IT and ITES / BPO sectors, the value of the commercial market of Mumbai is at an all time high rate. Large and soundly connected spaces are required for setting up of commercial offices across the Mumbai. The growing trend of merger / consolidation among various corporates is also one of the driving factor of commercial space demand.

Large floor plates and possibility of expansion in the future are the two points looked at by the consolidating corporates for which spacious property is required. The retail sector also directly or indirectly boosts the commercial property rates.