Emergence of the Mumbai property market in 2009
Mumbai property market has undergone a major transformation over a period of time. The projected 30% growth in IT/ITES over next 2-3 years will show a tremendous potential in Mumbai property market. The foremost factor for India growth is real estate and it's contributing more to India s GDP. In the same way, Mumbai Real Estate is also a great contributor to India's GDP due to high market growth trend from IT and ITES segment. Meanwhile, the prices of Mumbai Properties are costlier in comparison to other metropolitan cities. This is considered to be a critical success factor for investors and buyers to prefer Mumbai for their property needs and requirements. And also, Mumbai real estate is also witnessing an upward trend in capital and rental value
Growth in IT/ITES and other industries are influencing residential and commercial sector.
' Investments from NRIs.
' Entry of retail majors.
' Growth of Multiplexes and malls culture.
' Availability of ample space, manpower and the strategic location of Mumbai are resulting in more real estate activities in the city.
The growth of large number of IT/ITES companies boosts the commercial real estate sector in the city. A huge chunk of land availability, high disposable incomes, higher affordability, favorable government policies and government support make Mumbai an emerging and attractive destination for commercial real estate development in recent years. During FY2009 and FY 2010, there will be a requirement of about 6 million sq.ft. Thus, a Mumbai Property has a huge potential to grow and offers above average return on investment to both the investors and buyers.
About the Author:
Nitin provide you the best and latest fair information on Navi Mumbai Real Estate. He also help you on Thane Real Estate.