Why is Colaba so expensive?

The major reason why Mumbai is expensive is due to the high land costs. Residential and commercial spaces in Mumbai come at a high price.

Is Mumbai real estate expensive?

There are over 10,000 properties across and around Mumbai in the price range of Rs 32-53 lakh. If you are looking at villas in and around Mumbai, there are 300 projects and the price range is rather broad with projects priced between Rs 20 lakh to Rs 40 crore.

Why real estate is so high?

Reason #1: There Is Very Limited Inventory and Lots of Buyers. The top reason why the housing market is so high right now has to do with limited inventory, or supply. In reality, supply has been tight ever since the market peaked and the foreclosure crisis took hold because banks were careful to flood the market.

Which is the most expensive area in Mumbai?

1. Malabar Hill. Malabar Hill is not just Mumbai’s but India’s most exclusive residential address, where most of the residents are billionaires and millionaires. Apart from luxurious condos and penthouses, the hillock area also has few marquee properties priced at Rs 300 crores and above.

Is Mumbai more expensive than London?

London is 246\% more expensive than Mumbai.

Is Worli a good place to live?

Worli is one of the most popular and plush localities in Mumbai, Maharashtra. It is counted among one of the top 10 plush and best residential localities to live in the city. It is home to several celebrities, cricketers, actors and billionaires.

Why are Mumbai developers able to keep residential prices so high?

The fundamentals that drive demand for homes in the city are the reason for Mumbai developers’ apparent ability to defy gravity and keep residential prices so high. The fact is that sales are happening for all the above reasons – and they will continue to happen.

What is the average price of property in Mumbai South?

The price of properties in Mumbai South starts from ₹ 3.54 lacs and the average price of properties in Mumbai South is ₹ 8.25 crore. As compared to the city which has shown a down, the Mumbai South has shown a down since the last six months.

Why is Mumbai’s real estate market still so volatile?

Mumbai’s real estate prices are never out of the news. From the sale of spectacularly expensive trophy properties in South Mumbai to the ever-widening affordability gap for middle class home seekers, the city’s residential real estate market is under a constant jaundiced limelight.

Why do non-resident Indian investors invest in Mumbai real estate?

High investor activity always plays a big role in driving up real estate prices, and non-resident Indian investors comprise a significant chunk of residential real estate buyers in Mumbai, since it offers better returns for property investment when compared to cities in their countries of residence.