One of the most populated cities in India; Mumbai
is the capital city of the state of Maharashtra. Mumbai is the second most populated
metropolitan area in
India, and the fifth most populated city in the world. The population of the city
is estimated to be around 18.4 million and the metropolitan area population is
around 20.7 million. Along with the urban areas, including the areas of Navi
Mumbai, Thane, Bhiwandi, Kalyan, it is one of the most populous urban regions
in the world.
In 2011 sales for flats in
Mumbai dropped by 28%. This happened due to
rise in both prices and interest rates due to limited supply. However, 2012 saw
an increase in upcoming projects in
Mumbai and estate agents anticipate this will lead to a corresponding increase
in sales.
The residential properties in Mumbai are booming.
Towering apartment complexes are coming up all through the suburbs. Mumbai is
expected to take a lead with regards to sales with40 per cent increased sales
in residential properties and 26 per cent increased sales for apartment
complexes during the months of October to December 2014.
There has been a significant increase in upcoming projects in Mumbai over the
last two years. The government has planned various infrastructure upgrades, including
international airport and metro rail for Navi Mumbai, the Mumbai Trans-Harbour
Link, Elevated Eastern Freeway, and the Churchgate-Virar Elevated Rail among
many other improvements.
Given the rising prices of real estate, it
would be fair to assume that the new projects in Mumbai will increase anywhere
from 15% to as much as 50% depending on the infrastructure of the area and of
course, the location. Another significant advantage of upcoming real estate projects
in Mumbai is the ability to customize the interiors to ones liking.
While every real estate company delivers
what has been promised, you have the ability to choose the tiles, flooring
options and fixtures if you invest early on. Such varied customization is only possible
with new projects in Mumbai; an option that is otherwise non-existent with
already launched properties. The trick to finding such a desirable property is
to have a source which would offer you a list of all upcoming residential
projects in Mumbai.
The author is
a doctor by profession, but in his free time he enjoys writing about the latest
developments and prices of properties in the real estate sector. Here in this
article author has discussed about flats in mumbai and upcoming residential projects in Mumbai.