Festive Season Launches for Mumbai’s Realty Market

Property market in India is expecting more sales during the coming festive season. Real Estate in India has always witnessed increase in business during the festive period. This trend is expected even this year. The realty market of Mumbai is already been part of this trend.  

Mumbai and its suburbs is one of the leading real estate markets in India with some of the areas commanding prices in crores. However, there was a lull period in the Mumbai’s realty market with business sluggish. Many reasons are for this slowdown; important among them are high prices, lack of approvals from government bodies in building construction. The rise in interest rates also led to low consumer demand. 

Coming 2012 festive season, about 40 new projects are been launched in different localities of Mumbai. Leading property developers of Mumbai are bringing out residential and commercial properties in Mumbai. Firms like Sunteck, Godrej, Omkar, Ajmera, Kanakia, Lodha Group are offering buyers with new properties in this festive season. It is a common real estate trend in India that properties developers launches new units for sale during this period. 

The residential market of Mumbai during the festive season offers premium residential apartments valuing at Rs 7,200 crore. The premium category apartments demand a whopping Rs 12,000 per sq ft. For example, Omkar Realtors launched Omkar Alta Monte in Malad locality of Mumbai. This is a high-end category residential project and prices of apartments start from 1.9 crores. With a long list of amenities and good connectivity in this location, it is expected that buyers will show interest in Mumbai property here. 

Lodha Group, another eminent property developer of Mumbai is offering this festive season "Evoq" at Parel locality and Tower 3 at Wadala. Godrej Properties is offering "Serenity" in Chembur and Godrej Platinum Tower 3 in Vikhroli East.