The city of Mumbai is considered not only as an IT-capital of the Indian state, but also of the entire Asian region. It is a large metropolitan city and the place with the developed capital speculations and business sector because of this.As a result, new and new possibilities for job seekers appear constantly and this leads to the necessity of diverse private undertakings in the city. So more and more people turn their attention to the real estate market in Mumbai.
The amount of those willing to buy a new property in the city in a restricted spending plan has reached a disturbing rate, although the current prices for property within the city can’t be called cheap. The question that worries the majority is why there is such a great demand on property in Mumbai? One of the reasons for such interest in real estate market is the increase of IT business in the city as well as businesses connected with oil industry and pharmacy.
Due to these favorable to business development reasons Mumbai is considered as the most attractive place to buy property in India, as well as in the whole Asia. Because of the developing business sector, the prices for private and business property in the city have increased by 50 per cent. The demand for new residential projects is rather huge due to the increased amount of job hunters, who are coming here looking for more beneficial positions opened in the city and demanding satisfactory habitation conditions. Because of such a rapid development of private and business ventures, Mumbai has a chance to become the major place on the Earth with the biggest population.
One of the reasons for such interest to purchasing new properties is a rather high price for renting or leasing such a property. The fact that it is more profitable to put resources into both divisions becomes evident to many.
New residential projects in Mumbai is now considering the new structural engineering and persuade that they worry about individuals from the city center and exclusive class as well. The growth of the interest to prestigious accommodation in private and business places prompt the desire to spend more money on creating such accommodations.
India, of course, will continue its development, and real estate boom is gaining momentum. In 2014 foreign investments in the Indian real estate market increased by 40% and it became equal to 2 billion US dollars.
Thanks to the activity of local businesses and individuals who have purchased items in the amount of 3 billion US dollars, the total volume of real estate investments in India is amounted to $ 5 billion.
Experts from the National Bank of Housing India voiced predictions about further increases in the price of immovable objects – it is expected to increase in 9%. It is assumed that, despite the global crisis, the volume of construction in the next 2 years (to 2017) will increase by another 20%.
Indian Housing Projects 