Cost of property in Mumbai might rise in next quarter
It is reported by a real estate consulting firm that the cost of residential property in Mumbai will start increasing in coming months.
The demands for the affordable apartments are increasing, which will help the builders to keep the cost of the properties higher.
The report has also said that the cost of properties in Mumbai have increased by 3.2 percent in last three months.
The report also revealed that the absorption rate of residential properties have increased in these days.
The builders are not lowering the cost of the properties, but in some instances they reduce the property price in across-the-table negotiations with some customers.
Though the demand for projects from the local builders are increasing, the market is also expecting a price correction for the larger township projects, as large inventory involvement in those projects may exert a downward pressure on prices.
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No Sign of Reduction in Mumbai Property Price
Source: Financial Express
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