| This year, South and Central Mumbai are | | | | maintained buildings in prime localities |
| expected to witness a fair amount of | | | | commanded rates that ranged between Rs. |
| premium residential projects, as | | | | 18,000 to Rs. 28,000/sq. ft., however, |
| extensive construction activity gets | | | | some of these prime buildings have now |
| underway for developing condominium | | | | begun to command up to over Rs. 30,000 |
| style residential colonies that offer | | | | to Rs. 40,000/sq. ft. |
| state-of-the-art amenities and will be | | | | Several projects in various stages of |
| ready for occupation, within the next | | | | construction in suburbs in Mumbai's |
| 12-18 months. | | | | north, along the Malad - Goregaon - |
| Large four to five bedroom apartments | | | | Kandivili belt and Andheri / Powai, are |
| that range between 4,000 - 8,000 sq. ft. | | | | expected to be completed within the next |
| (super area) and priced at Rs. 30,000 to | | | | 12 - 24 months, which will lead to |
| Rs. 40,000/sq. ft. (on super area) are | | | | stability in prices. However, apartments |
| already on offer by numerous developers. | | | | ready for immediate occupation continue |
| The interest of end-users and investors | | | | to be in short supply. With considerable |
| alike has been snagged with sops, such | | | | commercial activity in northern and |
| as, the promise of staggered payment | | | | north-eastern suburbs, it is anticipated |
| based on construction stages, including | | | | that the demand-supply gap and lack of |
| the benefit of relatively lower prices | | | | infrastructure will be a continuing |
| for pre-committing to the project. | | | | limitation. |
| However, both south and central Mumbai | | | | With demand far outweighing ready |
| continue to face a paucity of adequate | | | | supply, rental values are likely to rise |
| ready-to-occupy apartments; coupled with | | | | in prime buildings in most parts of |
| a clear demand for 2/3/4 bedroom | | | | Mumbai. However, prices / bookings are |
| apartments ranging between a net area of | | | | expected to slow down for highly priced |
| 1,400 sq. ft. to 2,200 sq. ft. A | | | | premium projects under-construction, as |
| demand-supply mismatch is the main cause | | | | the number of prospective purchasers for |
| of rapid price escalation over the last | | | | such high value apartments is limited. |
| quarter. Till last year, old, well | | | | |