Property Price Trend in South Mumbai | Can You Afford House in Mumbai
Mumbai is the second financial capital of India. The highest population are in Mumbai. It is the second most population and metropolitan area in India. It is also the wealthiest city in India. Here are the highest millionaires and billionaires among all the cities in India. Property Price Trend in South Mumbai is the best decision ever in the India.
There are several name to call the Mumbai like the dream of city and the city of sever island. Mumbai is the most expensive housing market in the India. Every year the housing rate in Mumbai is becoming higher. The cost of flats in Mumbai is increased by 6% in 2016 according to the property consultant JLL.
JLL Believes that the price of property is much slower then as compare to the 2008 housing price increasing. In the recent timing only the single digit price increasing day by day. But in 2008 the increasing in the double digit or in the thousands or in lacs. this is the much lower speeding for the housing price increasing. In Mumbai here are regularly increasing housing price. Because the demand of the property every one wants to live in their dream city like Mumbai.
It determine the Mumbai’s advancing residential real estate market. All the user you have a absolutely good news who wish is to buy their owned house in the City. That has India priciest real estate.
But the house and the flat affordability is very difficult in city like Mumbai. Because of the population and the atmosphere of the Mumbai. Mumbai is the rust city. Their peoples do their owned work they have not interested in the other people matter.
Can You Afford House in Mumbai
If you want to buy a house in Mumbai so first you can check your monthly income. Because they gave the house according to the monthly income. They check that the buyer can afford the housing installments and they fill the complete installments. The average number of monthly income required to own a house in Mumbai. The highest considerable between Indian Cities, according to the study by the Reserved Bank of India. For the third quarter of fiscal 2015, the ratio for Mumbai was at 67 times, compare to the national average 60. In Delhi-NCR, this ratio is 63 times.
Even compare to the classy central Delhi peninsula, housing price in India’s financial capital hold their own.
The central Delhi Location are the most wanted localities because the central Delhi is the administrative district of the National Capital Territory of Delhi the India. Apartment rates in Delhi typically range between Rs.55,000 to Rs.75,000 per sq. foot.
Mumbai is the considerable distinguishing character for its owned History. The projecting mass of land bounded by the Arabian Sea. There is not opportunity for development or land development in the city.
Ever Increasing Property Price Trend in South Mumbai
Mumbai is the magnet for all newcomer from all the country because of fast urbanization and the high scope for all the new comers in the Mumbai. Because there are all type of scope are available. All over the Indian country most of the people doing job in Mumbai. They live in the rental house and doing job for the better opportunity and for the better future.
Mumbai population has shot up by 983% since 1904, according to census. In the rest of the country, the population has grown by about 380%. In 2001, 26% of Mumbai was accounted for the migrant from the other states move here for job. Migrants, especially daily wage laborers, have sustain the rise of slums.
In 2014 Survey of 850 developers by the industry body Association Chairman said the inquiries from NRIs were expected to increase by 35 % that year.
Most of the developers wants to develop their money in Mumbai. Because of the Property Price Trend in South Mumbai.