India-Real-Estate.org

Is Mumbai real estate market in a bubble? I am not sure. It is true that prices have not corrected as much as people were expecting but at most places, rates have come down by 10-20%, and genuine buyers could get further discounts by developers who are keen to get cashflows. Rapid digitization has made it extremely easy to look up and buy real estate in the city. The tech savvy population is a lot more confident researching on probable real estate options online and even completing the end purchase through the internet. This has led to a growth in consumption of ultra-small, low-budget apartments, which may still be affordable to some extent in the current market scenario in suburban Mumbai like Ghatkopar, Mulund, Thane, Mira Road, Virar, Panvel, and Navi Mumbai. This has led to the rise in transactions and a steady rise in prices for these low-budget houses. As per the ‘Housing for all by 2022’ plan of the current government the most number of households that the govt needs to provide is in the low-cost housing sector in the price range of Rs 10-20 lakh per housing unit.