Will Real Estate Prices Ever Fall in Mumbai?

3 Replies1472 ViewsLast Reply: 7 years ago
sanjay25
New Member
Started 7 years ago
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Guys,

I have been a silent observer of many threads from past one year and observing the prices in the western suburbs in Mumbai especially from Borivali to Andheri. From what I have seen so far instead of prices going down, its still maintaining the upward trend while some premium builders have increased the prices to an obnoxious level despite of low demand (increased the rate >25% in last one year) .

Now I am wondering if we will ever witness a dip in the Mumbai real estate prices. It can only happen if the real estate business is regularized in India in combination with firm control on black money.

Please share your experiences/views/ or realistic expectation regarding the prices in the near term (next 1 or 2 years). I am still looking to buy a home in the western suburb for self use with a budget of ~ 2cr for 2-3 BHK (availability around 2014-15). Please suggest some projects within the specified budget.

Thanks.

Sanjay
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  • piy12b
    Member
    7 years ago
    Originally Posted by sanjay25
    Guys,

    I have been a silent observer of many threads from past one year and observing the prices in the western suburbs in Mumbai especially from Borivali to Andheri. From what I have seen so far instead of prices going down, its still maintaining the upward trend while some premium builders have increased the prices to an obnoxious level despite of low demand (increased the rate >25% in last one year) .

    Now I am wondering if we will ever witness a dip in the Mumbai real estate prices. It can only happen if the real estate business is regularized in India in combination with firm control on black money.

    Please share your experiences/views/ or realistic expectation regarding the prices in the near term (next 1 or 2 years). I am still looking to buy a home in the western suburb for self use with a budget of ~ 2cr for 2-3 BHK (availability around 2014-15). Please suggest some projects within the specified budget.

    Thanks.

    Sanjay


    Hi Sanjay. There already are other threads that have been discussing this same issue. please post ur query thr and others can help u with their opinion. Ultimately, however, u will have to follow the principal "Suno sabki, karo man ki"
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  • rohu01
    Member
    7 years ago
    You have a very good budget, you can easily get your required apartment in western suburbs.
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  • pande1
    Member
    7 years ago
    Originally Posted by sanjay25
    Guys,

    I have been a silent observer of many threads from past one year and observing the prices in the western suburbs in Mumbai especially from Borivali to Andheri. From what I have seen so far instead of prices going down, its still maintaining the upward trend while some premium builders have increased the prices to an obnoxious level despite of low demand (increased the rate >25% in last one year) .

    Now I am wondering if we will ever witness a dip in the Mumbai real estate prices. It can only happen if the real estate business is regularized in India in combination with firm control on black money.

    Please share your experiences/views/ or realistic expectation regarding the prices in the near term (next 1 or 2 years). I am still looking to buy a home in the western suburb for self use with a budget of ~ 2cr for 2-3 BHK (availability around 2014-15). Please suggest some projects within the specified budget.

    Thanks.

    Sanjay


    Price correction of 10-15% is already there but it is in the affordable segment where people who invested were upper middle class themselves, in the premium segments the investors (mostly neta log/bhai log/black moneyed/business class and finally builders themselves) have major holding power and I dont see much of a correction happening there until elections come up then you can expect a 10-15% softening, this class is not too worried as they do not have any other avenue to park that much money anyways.
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