Significant Points You Need To Know About Mumbai’s Current Real Estate Market

For some time now, prices of new residential projects in Mulund, Mumbai have been stagnant. These have been leveled out, after those highs of 2010 to 2013. It was in 2014 when banks were scared to work with the builders due to decreasing cash. But, it was private equity players, who stepped out to help developers and create a hold to inflated pricing for a longer span. But, in the recent years, things have changed a lot. And with demonetization, real estate has come across a hefty blow.
Going to revive soon
After being hit by Government’s demonetization, the real estate market in Mumbai is likely to revive soon, within March. Now, after going through some serious losses, this demonetization move can prove to be beneficial for both builders and customers, after all. Not just the real estate industry, but the entire country was hit by this move. Until March, business is likely to move downhill, but things are about to be changed soon. Property prices were expected to go down by nearly 20%, which makes it a perfect choice for new buyers to grab some best deals.
Prices are reasonably fluctuating
Even though, the real estate market is going to get its grip back within March, but the prices will remain flexible. The surrounding locality and the breeze of Bollywood are enough to score some high prices. Moreover, it is quite difficult to land up with a large condominium, as this present moment. Due to the ever growing population in this city, even the standard 2BHk flats are charging some hefty amount from buyers.
Renting is the best option
At present, you will hardly find anyone, who is willing to buy new residential projects in Mulund. Mumbai’s maximum crowd consists of people from other neighboring countries, who want to make a cut in the film industry. Therefore, right now, people are more into renting houses than buying a new one. The prices are rather high, but rents can cut down the rate, to a great extent.
It is always mandatory to go through this new Mumbai real estate scenario before you plan to settle over here. It will not just help you to save money, but make some valuable investment.