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