Press Release Summary: With a host of ambitious projects in both residential and commercial sector on board, Mumbai real estate industry is expecting big time investments to pour in. Industry experts predict Mumbai real estate sector to rule the real estate market in the times to come.
Press Release Body: With a host of ambitious projects in both residential and commercial sector on board, Mumbai real estate industry is expecting big time investments to pour in. Industry experts predict Mumbai real estate sector to rule the real estate market in the times to come.
Residential Scenario
While residential sector is witnessing a dip in sales, real estate developers are hitting the luxury home segment by targeting NRIs and HNIs.
Mumbai-based real estate developer Lodha Group is launching luxury home project in Worli at Rs 40 crore. Similarly, Royal Palms are selling elite villas in Goregaon East, inside the Aarey Colony area of suburban Mumbai at Rs 4.5 crore each.
Kalpataru Properties Pvt. Ltd. is also launching Kalpataru Estate at Andheri East, Kalpataru Aura at Ghatkopar West and two other projects in Kandivali East and Thane West. Hiranandani Group is coming up with Richmond Tower at Hiranandani Gardens, Powai. The project is a 24-storey building offering chic 5BHK apartments of 4,880 & 4,925 sq. ft each with all contemporary amenities. The group also has on cards Hiranandani Estates and Hiranandani Meadows at Thane.
Commercial Prospect
According to media reports, the commercial property rates in Mumbai are likely to rise by about 50 per cent with large number of premium buildings getting constructed.
Developers like Hiranandani Group, Kalpataru Properties Pvt. Ltd, and Cosmos Group etc have their projects on roll in Mumbai. There is Hiranandani Biz Park at Thane and Powai, along with Megapolis by Kalpataru Properties Pvt. Ltd at Thane West, which is a 60,000 sq. ft Hypermarket, housing a 4 screen Multiplex and a food court. Also there are several office projects on the horizon in the CBD areas of Mumbai.
Indeed, a sturdy demand for global standards of construction in office space from corporate has driven the values up.
Future Outlook
With new developments and redevelopment plans being undertaken, Mumbai Real Estate industry can only lead in the times to come. Also amid all the ongoing infrastructure developments taking place in Mumbai like MMRDA\'s Rs 1,493 crore Extended Mumbai Urban Infrastructure Project and 600 crore skywalk project Mumbai real estate will draw a lot of buyer and investor interest in the times to come, feels Ahmed Khan, Mumbai real estate broker.
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2012
