Real Estate Developers

Friday, 26 September 2014

Real Estate Developers Building High Rise Apartments in Mumbai

Did you recognize that by 2020 Mumbai’s Metropolitan region is expected to have 28.5 million people?  The city observes an increase in the number of high-rise buildings because of the pressure on space is growing. As per real estate experts, tall residential buildings hold the answer to Mumbai’s housing issues.

Nowadays, most of location in the city boasts of one or more skyscrapers. Areas in Central Mumbai like Parel, Lalbaug and Sewri have many high-rise apartments which are costing more than 5 Crore. A few years back, Lower Parel was scattered with textile mills however these days; the old structures are being pulled down to make glossy malls and tall buildings.

Real estate developers have changed the landscape of central Mumbai with 75 and 80-storied towers. With a host of high-rise buildings, Mumbai will be receiving more cohesive skyline within the years to come back.

Maximum range of tall buildings under construction or approved in India are in this city. Such types of buildings are being supported in Mumbai as a result of the FSI available here is higher than other cities like Delhi.

Construction of a 126-storey building has already begun that is being touted to be the tallest within the country. If you are looking to buy a flat on the top floor of a skyscraper for a better view, you should be prepared for a huge amount. Cost of 4, 3 or 2 BHK flats in Mumbai’s skyscrapers is higher because developers have to rely on expertise from overseas for constructing these types of buildings.

Real estate professionals believe that encouragement of vertical growth is extremely vital for Mumbai’s future. Efforts are being created to strike a balance between good infrastructure and tall buildings so that Mumbai’s skyline is often created to appear like Dubai or Shanghai in the future.

Friday, 19 September 2014

Trends in Luxury Property in Mumbai

Luxury housing in Mumbai has completely changed from the last few years. Preference for luxury property in Mumbai has shifted as the CBD and Diamond Market has moved to Bandra Kurla Complex (BKC).

People are spending big bucks on buying luxury flats in Worli because of it’s close to the Sea Link for quick access to BKC. Most of corporate employees looking to stay close to their offices are looking for properties in the Bandra-Khar-Santacruz belt. Additionally, the Diamond Market is also moving to BKC so high priced flats are being bought by diamond traders who are shifting to these areas and to Worli for quicker access to their shops.

Even the Andheri-Malad-Goregaon-Powai belt is witnessing an increase in demand for premium properties. This can be the result of various Media, SME, FMCG and Pharma companies have shifted their headquarters to the present space. Various television and film artists are also spending huge amounts on plush properties in this belt because of they want to live closer to the major studios. Proximity to the metro stations, airport, and highways are some of the key factors due to which the Andheri-Malad-Goregaon belt is seeing an amazing growth in demand for luxury properties.

A new ‘affordable luxury’ trend is also becoming more popular. Developers are catering the not-so-rich with luxurious yet affordable 2 and 3 BHK flats in Mumbai. Suburbs such Malad, Goregaon, Vikhroli, Airoli, Bhandup and Ghodbunder Road in Thane are offering several choices in this category to buyers. Overall living standard and improvement in these areas is so high.