Mumbai is one of the fastest developing cities in India. Apart from being the financial capital of India the city also has immense importance from the point of view of education, history and real estate. After independence Mumbai has grown manifolds and today is the dream destination of most of the youth of the country. Also known as the city of dreams Mumbai is where most people turn their dreams into reality. Since people from the remotest corners of the country come and settle down in Mumbai it is but obvious that the real estate market in Mumbai will be flourishing.
Mumbai real estate has been on a constant roll since the last few decades. Over the last few years the focus of the Mumbai real estate builders has shifted from only building stylized apartment to construction of malls, restaurants, over bridges, hotels, parks, joggers tracks and sky scrappers. Even the government of the state is taking substantial initiatives to convert barren and waste lands into multiplexes and complexes.
Trying to keep pace with the life style of the city even the commoners are taking home loans and moving into trendier apartments. After the finance ministry has lowered the rate of interest on home loans more and more people are opting for this option.
However owning a home in Mumbai is not everybody's cup of tea. The real estate prices in Mumbai are sky high and that is exactly why owning homes is not very easy for one and all. Most of the people live in rented apartments the prices of which are also exorbitant as compared to the realty prices in other cities.
According to history previously the homes in Mumbai were much simple in their outlook and also offered minimal facilities. Till a few years back you could also spot a few large bungalows or row houses in the city. As per the current scenario most of the bungalows are sold out to top class builders at booming rates so that sky scrappers can replace them.
What is alarming is the rate at which Malls and multiplexes are growing in the city. Malls which have almost changed the face of shopping in India are abundant in Mumbai. Scattered across the city Mumbai is home to some of the largest malls in India. This too shows that there has been a total change in the life style of the people of the city. Today people in the city look out for houses that offer super amenities like gymnasiums, swimming pools, servant's quarters and security systems.
The many real estate developers in Mumbai are now concentrating in building apartments and commercial centers in the distant outlying regions of Mumbai. Places like Raigad and Panvel are featuring first on the list. The prices are said to be higher than what they were last year. Taking into consideration the rapid urbanization that Mumbai is undergoing people might think the city is losing out on its original charm but the fact lies that the government is in a constant endeavor to preserve the heritage of the city by building religious monuments, recreational centers and vast playgrounds.
Mumbai real estate has been on a constant roll since the last few decades. Over the last few years the focus of the Mumbai real estate builders has shifted from only building stylized apartment to construction of malls, restaurants, over bridges, hotels, parks, joggers tracks and sky scrappers. Even the government of the state is taking substantial initiatives to convert barren and waste lands into multiplexes and complexes.
Trying to keep pace with the life style of the city even the commoners are taking home loans and moving into trendier apartments. After the finance ministry has lowered the rate of interest on home loans more and more people are opting for this option.
However owning a home in Mumbai is not everybody's cup of tea. The real estate prices in Mumbai are sky high and that is exactly why owning homes is not very easy for one and all. Most of the people live in rented apartments the prices of which are also exorbitant as compared to the realty prices in other cities.
According to history previously the homes in Mumbai were much simple in their outlook and also offered minimal facilities. Till a few years back you could also spot a few large bungalows or row houses in the city. As per the current scenario most of the bungalows are sold out to top class builders at booming rates so that sky scrappers can replace them.
What is alarming is the rate at which Malls and multiplexes are growing in the city. Malls which have almost changed the face of shopping in India are abundant in Mumbai. Scattered across the city Mumbai is home to some of the largest malls in India. This too shows that there has been a total change in the life style of the people of the city. Today people in the city look out for houses that offer super amenities like gymnasiums, swimming pools, servant's quarters and security systems.
The many real estate developers in Mumbai are now concentrating in building apartments and commercial centers in the distant outlying regions of Mumbai. Places like Raigad and Panvel are featuring first on the list. The prices are said to be higher than what they were last year. Taking into consideration the rapid urbanization that Mumbai is undergoing people might think the city is losing out on its original charm but the fact lies that the government is in a constant endeavor to preserve the heritage of the city by building religious monuments, recreational centers and vast playgrounds.
5 comments:
Development is in its pace but the price is not the right one as most of the percentage is going as black money. Yesterday only I received a mail from the editor of Times of India. The same consequence was mentioned there.
Ajmer Property Services AnsalApi Offering Real Estate Services.Ajmer is a popular pilgrimage and educational center situated in the state of Rajasthan,India. The Real Estate Industry in Ajmer is on the drift in this city,AnsalApi is one of the big name in Real Estate Projects Ajmer.
The Mumbai Real Estate Information you provide is really useful to me and all viewer. I really like this. Mumbai is First choice to Invest in India.
Hi, I found your post really helpful but I was Searching for Residential and Commercial Property in Dwarka and i get the information about Buy, Sale & Rent Apartments, Flats & Plots in Dwarka Delhi from Apni Properties and on this property site have such a sufficient information about Real Estate Property in Delhi, NCR, and other metropolitan cities.
Mumbai is the largest real estate market of India. big companies are investing their money in the real market Mumbai and making most of it..:-)
It was nice reading your this post.
Thanks,
Newbuy
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