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Budget housing projects in Mumbai

The builders of Mumbai are witnessing rising demand for the low and mid segment housing projects in Mumbai. Hence the builders are planning to launch a new affordable housing project in and surrounding areas of Mumbai.

It is also noticed that the demand for 1 BHK house is increasing than larger apartments.

Earlier real estate market in Mumbai had mixed demand for luxurious and affordable apartments. According to a research firm, 37 percent of the projects launched in 2011 were in luxurious category, but the market is seeing a high demand for mid-level apartments in Mumbai as the costs of the luxurious properties are much higher.

Since, the residential market is a consumer driven market, the builders are shifting from construction of luxurious apartments to affordable apartments.

The fund flow is also better for the affordable housing projects as they are getting a better response from the home buyers.

 

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Source: Magic Bricks

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