Real Estate Mumbai (History of Mumbai City)


Metro lifestyles necessitate the need for owned homes in the apartment style. Mumbai is actually developing to a hyper metro with the burgeoning real estate giving more news with its fickle indications. Malls, hotels, restaurants, play parks, joggers track is expanding and the focus is also in connecting the areas with skywalks and over bridges. A lot of effort is seen by the government in developing barren land, waste land and converting dump yards into multiplexes or huge multi facility complexes.

The trend is also seen in commoners availing housing loans with the relaxing done by the finance ministry. Though the movement is getting busy than before people are still not very keen in investing in property yet. The news is that recession trends predict further fall in rates which will be beneficial for many salaried individuals. The NRI sector is also awaiting such lowering of house rates so that they can do a confident investment.

The earlier homes in Mumbai as per the history were simple in their profile with minimal facilities. One could also see a few bungalows or row houses which is also now sold out to builders at booming rates and the skylines are now crowded with tall towers. Though there is rapid urbanization Mumbai still has its heritage intact and that is seen with the vast playgrounds. Many clubs are keen to develop land into golf clubs and recreation.

Malls and multiplexes are also growing at an alarming rate and the earlier system of shopping is now being replaced with impulsive purchase. This shows a clear change in lifestyle by people who also look out for super market amenities while purchasing a home. Modern complexes also have a servant’s toilet in each floor, state of art security system, modulated elevators and a sound administration that renders the colony a sanitized look.

The market is showing scaling in terms of sale-purchase in seconds flats and there is more interest in people looking for rented homes. The earlier stagnant market is now gearing for a change with new constructions showing interesting amenities which are now getting affordable.

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