Mumbai real estate sector
The city may soon record the largest transaction for commercial space with Citibank India close to paying approximately Rs 1,000 crore for space in an under-construction building at Bandra-Kurla Complex. Market sources said the bank is believed to be paying Rs 33,000 a square foot for the 3 lakh sq ft office space in the [...] Continue Reading »
After a one-year period starting in the third quarter of 2009,the Mumbai residential real estate market has been seeing a slowdown. The key reasons behind this slowdown are higher prices, higher interest rates impacting affordability, lack of liquidity, scams diluting investor sentiment – and, to a lesser extent, excess supply in a few micro markets. [...] Continue Reading »
Mumbai Asia’s 4th costliest place for office space in Oct-Dec 2010 Mumbai has become the fourth costliest city in Asia Pacific for renting a office in the last quarter of 2010. the average annual rentals of Mumbai during the quarter has been estimated at USD 705 per sq mt, the same has been found to [...] Continue Reading »
Market sources said leading banks now lend to only credible builders for select projects, but have turned off the tap for most others in the construction sector. Money has suddenly stopped flowing into Mumbai real estate sector with banks and financial institutions tightening the screws on builders. By March 2011, Mumbai builders alone are scheduled [...] Continue Reading »
