Bombay real estate Property market continues to be the most expensive place with 29 - 30 percent of the city's under-construction units priced at over Rs. 1 crore, real estate consultancy firm Mr.Knight Frank said in a report.
This is against 11 per cent and 5 per cent for the National Capital Region and Bengaluru markets respectively.
"Incessant price rise and higher concentration of premium projects with a ticket size of more than Rs. 1 crore in new launches have limited the purchasing ability of home buyers resulting in a decelerating rate of absorption over the previous four quarters," the report said.
Only 48 per cent of the city's under-construction units are below the Rs. 50 lakh mark, which is the lowest among the top six cities including Pune, NCR, Chennai, Bengaluru, Hyderabad, it said.
The large number of new launches in Mumbai, in the previous four quarters, has significantly increased the unsold inventory in the market, it said.
Peripheral locations like Vasai, Virar, Mira Road, Ghodbunder Road and Panvel have witnessed a slew of new launches during the last one year, the report said.
"However, despite the waning interest of home buyers, quoted prices in Mumbai continue to remain high as developers are increasingly offloading their unsold inventory at a discount to investors who are willing to make substantial upfront payment," the report pointed out.
At the time bangalore are having most affordable residential and commercial rates with more than 78 percent of its on going projects. They are actually falling below 50 lakh and even chennai reduced by 75 percent.
If you need for more details of any property in thane. Visit our website and contact us for any of your queries.
This is against 11 per cent and 5 per cent for the National Capital Region and Bengaluru markets respectively.
"Incessant price rise and higher concentration of premium projects with a ticket size of more than Rs. 1 crore in new launches have limited the purchasing ability of home buyers resulting in a decelerating rate of absorption over the previous four quarters," the report said.
Only 48 per cent of the city's under-construction units are below the Rs. 50 lakh mark, which is the lowest among the top six cities including Pune, NCR, Chennai, Bengaluru, Hyderabad, it said.
The large number of new launches in Mumbai, in the previous four quarters, has significantly increased the unsold inventory in the market, it said.
Peripheral locations like Vasai, Virar, Mira Road, Ghodbunder Road and Panvel have witnessed a slew of new launches during the last one year, the report said.
"However, despite the waning interest of home buyers, quoted prices in Mumbai continue to remain high as developers are increasingly offloading their unsold inventory at a discount to investors who are willing to make substantial upfront payment," the report pointed out.
At the time bangalore are having most affordable residential and commercial rates with more than 78 percent of its on going projects. They are actually falling below 50 lakh and even chennai reduced by 75 percent.
If you need for more details of any property in thane. Visit our website and contact us for any of your queries.
Very Good Blog it is actually useful for me. Keep writing and happy blogging. Great blog post. Really looking forward to read more.
ReplyDeleteGaur Studio Apartments Noida
Hi,
ReplyDeleteNice post by you.
Sunworld Arista Sector 168 Noida is a new residential project which has been launched by Sunworld Group.
Yes, Real estate market in Mumbai very expensive to stay because mumbai's property rates are increasing very fast so it's not affordable for common man.But thane properties is another option for all those who are not able to buy property in mumbai. because as compare to mumbai, thanes proeprty rates is low.
ReplyDeleteLooking for villas in sarjapur! Check out Spansh Houses Villas in Sarjapur Road Bangalore, Heritage Homes, Heritage County.
ReplyDeleteLooking for villas in sarjapur! Check out Spansh Houses Villas in Sarjapur Road Bangalore, Heritage Homes, Heritage County.
ReplyDeleteAmerican Villas! Check out American Houses Villas Property in Sarjapur Road Bangalore, near ellectronic city, whitefield, SKylite Vesta.
ReplyDeleteAmerican Villas! Check out American Houses Villas Property in Sarjapur Road Bangalore, near ellectronic city, whitefield, SKylite Vesta.
ReplyDelete