/24-7PressRelease/ - October 27, 2007 - Mumbai, the financial capital of India does not need any introduction. The city is nowadays making headlines because of its fast flourishing property market. One of the factors pushing demand for real estate in Mumbai is high investment returns. This is what attracting large interests from property investors all over India.
Mumbai is the most populated Indian city and its suburbs encompassed the second biggest urban agglomeration in the world. This clearly underlines the reason for increasing demand for commercial as well as residential property in Mumbai.
Currently, there are a number of real estate projects going on in the city. Some of them are in the initial stages of development whereas others are likely to be completed. This hints towards the profit figures which are there in the Mumbai property market.
More and more multinational companies and financial institutions are planning to make a foray into the city. Such a scenario is likely to hold the demand for Mumbai properties. And people here are affluent enough to invest in real estate.
Talking about rental market in Mumbai, it has left behind the others in the race. The rental properties in Nariman Point and Bandra Kurla Complex have been rated as the most expensive in the world.
Hot property destinations in Mumbai are Navi Mumbai, Worli, Bandra, and Parel. Since these are business areas, the trends for commercial property are sharper than any other location in the city. Foreign investors are eyeing to make a killing on the economic boom taking place in Mumbai's commercial property sector.
Real estate prices especially in the suburbs of Mumbai are going through the roof. Property rates are hovering between Rs 5,000 and Rs 6,000 per sq ft in the western suburbs of Goregaon and Malad whereas they are no less than Rs 3,800-4,000 per sq ft. in central suburbs like Thane.
Bikash kumar is the contributing author to the http://www.indianrealtynews.com for distinct articles and news. Indian Realty news provides news on commercial and residential properties of various cities like Delhi, Gurgaon, Mumbai, Chandigarh and Bangalore etc in India along with news on latest property investment, finance and property loan and laws in India.
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