Property market overview November 2011 - Mumbai
Mumbai is the most populous city in India. Also known as the Financial Capital of the country, Real estate sector here, like its lifestyle, has been ever active. With the Indian Stock Market, the Reserve Bank and various corporate offices, Mumbai is a hub of commercial activities. Property prices in the city have been on an uptrend. In spite of an overall slowdown in property market owing to high interest rate and inflation, the city has experienced a near 15% jump in property prices over the past 7-8 months.
Among areas, Andhari to Dahisar belt is the main property hot spot and sees maximum concentration among property seekers. Top 5 localities in Mumbai on the basis of maximum real estate action are Mira Road, Kandivali (East), Andheri (East), Kharghar and Goregaon (East). The average per square feet (psf) rate for the city is around 10,900/-.