Mumbai overtaken by Pune, NCR in home loan demand
Real estate and home finance executives have stated that Pune and New Delhi have overtaken Mumbai with steady home loan demand.
India’s financial capital does not offer a rosy picture for the real estate sector as there are not many new projects that sell in big numbers.
In the recent past, most sales have been outside Mumbai where the value is lower. The experts say that good volumes are witnessed in the northern market, especially the National Capital Region (NCR), compared to Mumbai.
Apart from unaffordable prices, the dearth of new launches in Mumbai is a key reason for falling sales. While sales momentum continues to be better in Navi Mumbai as costs are still affordable and launches are taking place there, in Mumbai itself the momentum is sluggish as there are no major launches except in Worli, Lower Parel and Prabhadevi.
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