Mumbai price rise continues despite dip in sales
Drop in sales seem to have no impact on prices of property in Mumbai. Stamp duty and registration data of flat sales clearly indicate a downward trend but developers and investors seem to be holding on to hiking prices in the financial capital.
According to Groffr, a group buying portal, Mumbai’s real estate have taken a hit as sales of apartments in Mumbai in the financial year 2012 dropped by more than 60 per cent from the 2007 peak and 35 per cent from 2011.
However, sales dip has failed to lower the prices as developers have hiked prices of various projects by 4 per cent to 10 per cent in the past three months.
The study shows that 21 projects had hiked prices by 10 per cent while six projects hiked prices by 20 per cent in last few months.
Developers, Drop in sales, flat sales, Groffr, group buying portal, Mumbai, property price rise, real estate investors, real estate mumbai
[...] Mumbai price rise continues despite dip in sales [...]