Paucity of Residential Property in Mumbai boosting Suburban Markets

February 14, 2007	(1 votes, average: 3 out of 5)  Loading ...
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Scarcity of housing accommodation in the South Mumbai market has led to major locations in the suburban markets to emerge as attractive prospects for clients. There is a considerable hike in demand owing to huge influx of expatriates and limited supply. Consequently, the rental and capital values in this part of the city, have been through the rooftop. However, the suburban market is still the savior.

With an increase in construction activities and array of better amenities in Central and Suburban Mumbai, investors are looking forward to cater to housing requirements. Cuffe Parade and Malabar Hill continue to spearhead others with highest capital values ranging between Rs 40,000 to 50,000 per sq ft.

The demand for the high end residential real estate market in Mumbai is going up at an alarming rate. The real reality impact can be seen at the places like Malabar Hill, Cuffe Parade, Prabhadevi, Worli, Juhu, Santacruz Mumbai, says data compiled by Colliers International Research.

With multinational companies joining hands with large Indian corporations, the expatriates are increasing due to which the capital and rental market is experiencing an uninterrupted upward pressure. The rise in interest rates for bank/loan borrowers has put off the zeal of the middle income sector to park money in residential property, thereby reducing the pricing in some pockets of the suburbs by 10% to 15%.

News Published Under:   Mumbai |

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