Mumbai formerly Bombay is one of the mega-cities of the world in India, which is mainly driven by a strong personality, rich, famous and glamorous. So it has attracted and still attract people from all walks of life, and the time to make your dreams and aspirations into reality. This city, with its rich culture and heritage of England known for its beautiful architecture, wide beaches, museums, places of worship, and, last but not least, as the Bollywood celebrity home. City of diverse cultures and reach the pinnacle of success as the financial capital, Mumbai attracts thousands and thousands of people across the country. This will remove the fact that the goods and demand rents in the city. Compared to other cities, real estate prices in Mumbai are very logical reality for many people.
Although there is a strong demand for real estate in Mumbai, it is also true that much of the property remains unsold. According to media reports, is believed to be due to good sales to reduce the exorbitant prices and low purchasing power of potential candidates or home buyers. Although this scene from the reality of many developers to further develop the property in the belief that they will be able to sell at competitive prices. I think the social, economic and political development scenario will improve and in turn increasing the sale of the property. Some are even more convinced that the buyer will assume the build quality and brand values into account and make a decision soon.
Although property prices in Mumbai may not degenerate, as desired by the buyer, the prosecutor seems to have taken Mr. Raghuram Rajan of the council, the governor of the Reserve Bank of India to reduce the value of unsold stock. It was also noted that only huge financial support developers to take the risk of building new housing units, while small-time promoter followed sit and watch approach. That’s why the first quarter saw only half of the new launches in key areas such as statistics honor last year. But then came out to see a slight increase in the number of new projects.
Some real estate developers have turned their attention to the construction of apartments and exclusive luxury villas for the rich and powerful. From the rich segment was able to pay a large sum, even if the national economic situation. Go developers believe not only to help them stay in business, but also to help them recover their losses through the development of Mumbai 1 BHK and 2 BHK apartments unsold for a while. “On the other hand, the middle class and the middle segment is still hope arrested in buying your property somewhere in Mumbai. I hope your dream immediately.