Sales of apartments in Mumbai reduced in 2011
Though the real estate market in India saw a good rate of sales of apartments in 2011, the property market in Mumbai witnessed a downfall in property sale.
The major reasons of less number of sale of apartments in Mumbai are the high price of apartments.
On the other hand the demand for new apartments are much higher in Gurgaon. The absorption rate of residential apartments have been increased by 11 percent there.
Bangalore property market also observed a higher rate of absorption for new residential apartments. While Chennai and Noida are on top of the absorption rate with 37 percent and 31 percent respectively.
It is stated that high launch rate drove the absorption rate of apartments in those areas.
More related stories:
Rise in cost of residential apartments in Surat is Highest
High tech residential apartments in Bangalore by Mantri
Source : NDTV Profit
absorption rate of apartments, Apartments in Bangalore, Apartments in Chennai, Apartments in Gurgaon, Apartments in Mumbai, Bangalore property market, Cost of apartments, new apartments, new residential apartments, Price of apartments, Property market in Mumbai, Property sale, Real Estate market in india, sale of apartments in Mumbai
[...] Sales of apartments in Mumbai reduced in 2011 [...]
With the prices of reisdential property of Mumbai consistently moving north, location specific homebuyers are keen to settle for resale units as well available in city areas. Homebuyers are seeing the proximity of educational institutions, hospitals and retail facilities and many more convince them to opt for resale properties.