Mumbai Developers Advise to Invest in Residential Property

Mumbai’s realtors claim this is the best time to invest in residential apartments as prices have touched the bottom of the curve. “Realty prices will only rise again and the best time to invest is between September and December,” Hiranandani Group of Companies managing director Niranjan Hiranandani said on Monday while addressing a real estate meet. It was organised by Times Property, which launched its annual property event that would come off from August 17 to 24.

Hiranandani said real estate was the best investment. “If you are looking at a five-year cycle and invest in real estate, then you are sure to make good profits,” he said. Lodha Group director Abhisheck Lodha agreed: “Prices will increase slightly but will stabilise and investing in property, especially from now to December, is favourable. The real estate sector is a tortoise but a stable tortoise.” The panelists felt that the effects of the downturn has not hit India that hard because of its resilient economy.

“A great deal of agility has come into the market now. We are banking on the around 60% of the population of Mumbai that do not own their own homes and who are looking out for their first homes,” said Amit Bhagat, CEO and managing partner ASK Property Investment Advisors.

News Published Under:   Mumbai, Real Estate India |

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