good article

The residential property prices of south mumbai/bandra/Worli given in the article are much lower then the prices quoted by property dealers
any reasons?

The mumbai property market is a bubble. Be careful before investing. one of my friend is stuck badly. he has invested approx 5 cr in mumbai property & unable to find buyer even at 15% discount then present rate. The rate are 60% more than ppl income. 55 lacs for 2bhk between groegoan - borivali is ridiculous? south is out of sight.

Be careful. this will be bigger bubble than harshad mehta & ketan parekh

Dear Readers,

We thank you for your quick response and productive suggestions. The city specific articles give you additional information on prevailing real estate trends and are intended to assist you in finding answer to your queries.

We have tried our level best to scout every reliable source to provide you with the correct data for property prices that you can count on. If you have any information to bring the improvements in chart, add your suggestions to the comment section.

Thanks
Editor

thanks for such an informative article on Mumbai. I really appreciate the efforts. Infact, your property price chart covers all important locations in the city and offers good insight.

prices in Chembur where I am enquiring are between 6000-7000 per sqft,
sion-wadala is 8000-9000 per sqft, king circle is 10000 per sqft
I am currently working with a real estate broker and prices are for currently avaialble apartments.

i would like to know the price of 1 bhk in kendra vihar society in kharghar navi mumbai

Dear Rahul….if you can wait for 3-4 months you will get better rate in borivali- kandivli belt than 5000-5500. in mumbai it seems ‘Realty Boom’ is over

What will be the stamp duty & registration if i opt a flat at borivali east nr national park.flat is a resale flat of 23 lakhs.

thank you.

Hi Guys, just wondering if anybody could help me by lettin me know the price of a 2 bedroom property in dhaisar-borivili (west) area.

hi,
I guess, these rates are aprox.as i found in dombivli the rates r 1800-2100.
thank you.

Hi,

i am interested property in South Mumbai near Ranibague Byculla, i am bit confuse about rates can u plz, guide me how much approximate rate i should gate in above area

People who are interested in buying property wait for another few months, till the end of Diwali atleast. People who are desperate will feel more desperate as they would like to own a house before Diwali. And so will the house sellers will feel the say. They would like to earn cash before Diwali. But control your desires i would say. As thats what the trick these builders are waiting to unfold. If the demand reduces even after Diwali, I am pretty sure the builder and sellers are going to be doomed and will make desperate attempt to reduce the prices atleast by 30%. And if we all were to wait till March end, even the big builders will bluge down because of year ending losses.
I would say Diwali is the critical time. Only buy when they have reduced the prices by 30% then the market price. There are bound to be desperate sellers just before Diwali so negotiate very hard (around 40%)during that time because you know now that they want money for Diwali.

Real estate prices will come down for sure..they wont increase any more. Just the buyers need to keep cool. And its a trend in mumbai that prices go up every 10 years and there after either go down or be stable.
Example in 1995-1996 similar boom has come up and realestate prices have gone up like hell, my father-in-law booked a 2bhk flat in bhandup for 18 lakhs, he said in an year or so the price went up to 21-22 lakhs. i.e in 1997 the price went up to 21-22 lakhs, but later it started falling, it came down to even 13 lakhs in 2003, the rates were 15-16 lakhs even in 2004. i.e even after 8 years the price didnt increase, infact decreased. After 2004 only rates started increasing, in 2005 too rates were moderate, 2006 and 2007 they shooted up drastically. Simple logic is the population/salaries didnt increase dramatically in 2006/2007, i.e demand really didnt increase, its inflated. Lot of speculators got into market and created a shortage and there by demand increased…and builders too played the game, untimately its the common man who will loose if they fall for this trap. One broker in thane said, he knew a lot of rich people who stay in worli/bandra took 20-30 flats in thane as investment. He said if they find prices wont increase they will be the first people who want to get off the market and it will automtically go down, infact builders realised this, so now they are not encouraging the investors, as they feel prices may go down.
These builders a very rich people they can get any article printed in newspaper, so dont just go with news
And one more example, on property price trend is, in 1996 in nariman point per sft rate was Rs 34,000 even in 2006 they were no buyers to buy at that rate !!!

Which is the best place to invest 30 lacs in Mumbai to double it to 60 lacs in say 2-3 years time, is kharghar good but rates are already 3000-4000 per sq feet, or is panvel good where the rates are little low bt 1500-2200 per sq feet or the last option for me is the sternon magic hills project which is 20 kms from panvel international airport, has anybody seen this project their site etc kindly give details and about the panvel international airport what is happenening no news is there thanks regards to all of you

Does anyone have an idea of current rates in Matunga/Kings circle please. Thanks.

Hello;

I have been looking for 2 BHK flat in & around Takshila/Brindaban/Kalpataru on Mahakali caves road area of Andheri(East). Prices have gone up from 40 Lacs to upto 80 Lacs in this area.

Are such high prices sustainable in this area of Mumbai? This place is near to SEEPZ/IT industry and bulders/sellers are taking advantage of this fact. Is it a good idea to buy in Andheri for Rs 6000-7000 psf now?

Any suggestions are welcome.

- Gunesh Apte

Agree with Wait.. I wanted to buy a 2 bhk in western suburbs. I have been told by a reliable broker that property transactions has come down substantially. With this info I dont think a common man is interested in buying at this stage. Logically also instead of buying a 2BHK for 60 lakhs one should pay rent of 30000/- which is just 6% of the property price. Especially, like me, if you believe that prices are not going to go up from this level. for the time being control your sentiments of staying in your own house (for genuine users) etc