Mumbai Real Estate Market: A Beacon of Growth and Stability
Prashant Sharma, President of NAREDCO Maharashtra, predicts a continued upward trajectory in Mumbai's real estate market, driven by customer-centric approaches and trust in the city's property market.
Mumbai Real EstateNaredco MaharashtraProperty MarketHomeownershipEconomic GrowthReal Estate MaharashtraJul 02, 2024
This trend reflects the concerted efforts by developers, the supportive policies of the state government, and the overall economic growth that continues to drive the housing market in Mumbai. The revenue exceeding Rs1000 crore from these registrations also demonstrates the significant contribution of the real estate sector to the state's economy. We anticipate this upward trajectory to continue, driven by innovation, customer-centric approaches, and unwavering trust in Mumbai's property market. With the city's property market showing no signs of slowing down, it is clear that Mumbai is a beacon of growth and stability in the Indian real estate sector.
Frequently Asked Questions
What is the current state of the Mumbai real estate market?
The Mumbai real estate market is experiencing an upward trajectory, with a 12% year-on-year increase in property registrations for June 2024.
What is driving the growth of the Mumbai real estate market?
The growth is driven by customer-centric approaches, trust in the city's property market, innovation, and the supportive policies of the state government.
What does the increase in property registrations signify?
The increase signifies that more individuals are now realizing the long-term value and stability that real estate investment offers.
What is the contribution of the real estate sector to the state's economy?
The revenue exceeding Rs1000 crore from property registrations demonstrates the significant contribution of the real estate sector to the state's economy.
What is the outlook for the Mumbai real estate market?
We anticipate the upward trajectory to continue, driven by innovation, customer-centric approaches, and unwavering trust in Mumbai's property market.
Related News Articles
Real Estate Gift from Resident to NRI: Tax Implications and Reporting Obligations
If a resident parent gifts real estate to a non-resident son, does it trigger reporting obligations or have any tax implications?
How Lower Sales Realisation Impacted Cement Manufacturer Margins in Q2 FY25
In the second quarter of the fiscal year 2025, cement manufacturers faced a significant drop in sales realisation, leading to a decline in profit margins. This article delves into the factors that contributed to this downturn and what it means for the ind
India's Real Estate Sector Set for Growth Over the Next 3-5 Years
India's real estate sector is expected to experience significant growth over the next 3-5 years, driven by factors such as low inventory, strong affordability, supportive regulations, and sector consolidation.
Residential Rental Prices Soar by 9.3% in England Over the Last Year
The real estate market in England has seen a significant surge in rental prices, with an increase of 9.3% over the year ending November 2024. This rise has significant implications for both tenants and landlords.
Wealthy Indians Exploring Affordable Citizenship by Investment Options
As global mobility becomes increasingly important, wealthy Indians are looking towards citizenship by investment programs in countries like Greece and Portugal. These programs offer residency and eventually citizenship in exchange for specific investments
Goa's Forest Land Conundrum: Real Estate vs Conservation
Former Environment Minister Jairam Ramesh criticizes Goa's Chief Minister for prioritizing real estate development over forest conservation, highlighting the looming environmental challenges.