Growing Infrastructure in Mumbai

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.