Housing in India

Reports suggest that real estate market in Mumbai is growing rapidly. In fact it has defied the liquidity crunch as Mumbai has registered the maximum property price rise in the last 14 months.

 

Statistical data indicates that the growth registered was 24.7% during the period January 2009 through December 2009. Comparatively, the property price in Delhi and NCR during the same period rose by approximately 8.8% only.

 

Similarly, other cities in the country like Hyderabad and Bangalore registered a drop in property price by as much as 7.7% and 2.2% respectively.

 

One of the main reasons why real estate market in India has grown is due to relaxation of FDI norms by the Indian government. As such more and more investors are turning to real estate as an investment option if they have some cash at their disposal.

 

The main reason is positive impact of FDI policy relaxation by the government. Coupled with this, is growing population of the state that is increasing the demand for accommodation. Since Mumbai has several multi national companies, it is home to many people from other states and also from around the globe.

 

As a result, the demand for rental property as well as accommodation has increased. So, people are either buying an apartment for themselves or putting up at rented premises. This has eventually escalated the demand for rental property too.

 

It is assumed that the real estate market in Mumbai is one of the biggest. The fact that the city is a favorite investment hub has made the real estate market in Mumbai grow manifold.

 

Areas in Mumbai where residential projects are coming up include the following –

 

 

Real estate market in Mumbai is growing due to the various commercial projects too. The areas where these projects are coming up include the following –

 

 

The fact that real estate market in Mumbai is growing has also given rise to a number of builders and developers in Mumbai. Some of the eminent real estate builders and developers in Mumbai are –