2. Introduction
Mumbai, the nation’s financial capital is home
to some of the country’s biggest real estate
developers.
Raheja, Lodha, Kanakia, Rustomjee etc are
some of the biggest builder names in the city.
After a slump in 2017, real estate prices and
sales have picked up again in 2018.
3. Real Estate Market in Mumbai
In 2016-17, the real estate market witnessed a
slump. Following demonetization, RERA and
GST, prices dropped and sales slacked.
In 2018, the market for real estate in Mumbai
has steadily picked up again.
Demand is coming back and projects are
being constructed faster than ever.
4. Real Estate Market in Mumbai
Builders are now compliant with RERA.They
have to abide by stricter regulations.This
means there is more transparency in real
estate than before. RERA has also ensured
that customers are more educated.
Several builders have formed joint ventures
to complete projects.
Customers are exploring real estate in
Mumbai with great interest.
5. Rise of Premium & Mega Real
Estate Projects in Mumbai
In the last 10 years, there has been a huge
increase in high rises and premium projects
Most high rise projects are situated in suburbs
like Goregaon, Malad & Mira Road. Premium
projects are mainly in Central Mumbai.
Large scale mega-projects have also become
popular in the last 10 years.
7. Neeta L&T Crescent Bay
With apartments ranging from Rs. 3 – 11 crore,
Neeta L&T Crescent Bay is a massive
development in Parel.
Apartments are available in 2-4 BHK
configuration ranging from 1320-3910 square
feet.
The prime location is a bonus.This real estate
project in the heart of Mumbai is located near
the Eastern Freeway and is also close to both
Western & Central railway lines.
9. Piramal Mahalaxmi
With a beautiful view of the racecourse,
Piramal Mahalaxmi is another premium
project in the heart of the city.
The project houses 542 units and features a
swimming pool, jogging track, tennis court &
many other modern amenities.
11. Kalpataru Magnus
This project is situated in the prime suburb of
Bandra.
Flats are sized between 823-1824 sq ft
It is expected to be completed within 5 years
It is within a short distance of the SCLR,
BandraWorli Sealink and BKC.
13. Conclusion
The economic climate for real estate in
Mumbai is expected to improve by the end of
this year.
In the future, as new infrastructure (especially
metro lines) is created, demand for housing in
all areas of the city should increase.
Real estate in Mumbai has always been & will
always remain a great investment.