Rental values falling drastically in the metro cities
No Comments Sub Category:Cities,Mumbai,Realty News,Residential Real Estate Posted On: Nov 22, 2012
It has been found that there is a downfall in the rental value mainly in the metro cities, however, the price of the property remains constant.Rental values have reduced to one percent in the Mumbai Metropolitan Region and the National Capital Region (NCR) which was 3-5 percent in 2010 and 2-3 percent in 2011.
Real estate property prices throughout Mumbai are already flat and have just increased by 0. 3% in the September quarter this year this is beacuse of the unaffordable property price. On a year on basis residential properties show a 25% decline.
Pankaj Kapoor, managing director, Liases Foras said that the real estate prices have been very costly but rents have not raised. This clearly shows that properties, especially in and around metro cities like Mumbai, have become impossible.
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Metro Cities, Mumbai Metropolitan Region, Mumbai Properties, Mumbai realty, National Capital Region, NCR, Properties in Mumbai, property price, real estate price in Mumbai, Realty News, rental value
