Growing Demand for the Real estate in Mumbai

The Financial Capital of India is a hot favorite destination for Multi nationals Banks and various other companies. Mumbai being an island city has limited Central Business Districts and it becomes easier at times to make a choice considering the few options you have. Mumbai is well connected by Local Trains and an extensive network of BEST which runs the local buses in Mumbai. Office premises in February 2009 are at their peak in each location. The pressure is on a quality Commercial Corporate office complexes with limited availability left. The demand for real estate in Mumbai varies accordingly. Real Estate Trends n Mumbai has highlighted the demand for the huge property market in Mumbai.

The real estate in Mumbai has grown at a furious and tremendous pace in Mumbai. In the year 2006 the Capital Values for Example in Andheri East were say Rs.7000/- PSF and now in 2009 the same are nearly Rs.15000/-. The same goes for lease rental values the same earlier were in the range of Rs.75/- to Rs.100/- for Prime Commercial Properties and the same are quoted more than double the price. There is a huge demand for properties in Mumbai even in the crisis situation.

The real estate market in Mumbai is tipped to be the one of the most expensive in the world and it is definitely increasing at a rapid pace. There is limited availability of quality commercial offices on Sale and Lease and hence the prices are sky rocketing few years back. But now for some localities the prices are coming down. There will be some good quality office space of large floor plates coming up in Suburban and upcoming locations like Andheri East etc. in a few years now. There is immense dearth of good quality smaller offices in the range of 1000 to 3000 sq.ft and especially in furnished condition.

Vacancies for all prime building across Mumbai have declined over the last few quarters with increased absorption levels the prime building in the CBD, central Mumbai, Airoli and Parel micro markets are witnessing limited space availability for real estate in Mumbai.

Upcoming Trends in Coimbatore

Real estate in Coimbatore has been undergoing a shift in its real estate trends recently. While, the commercial properties of Coimbatore have reached a point when it is very difficult to purchase a property in prominent locations, the residential property preferences are also changing.

A Coimbatore real estate agent says that Coimbatore Property have been on rise since long, especially the commercial property rates.Coimbatore is primarily a Textile Hub. Further, the booming commercial segment and growing influx of educational and management professionals have pushed the residential demand and prices to a new high in Coimbatore over the last few years. Now, with increase in property tax by the state government the residential rental values have increased manifolds.

Moreover, with more exposure to other developed countries and salaries going up, people all over the country want a luxury life style. This trend has also caught up with property in Coimbatore as well, where the people are now more into 3 bedroom lifestyle homes.

Also property in Coimbatore is gaining popularity day by day due to the increase in population and lack of space. Many prominent builders in Coimbatore are building projects comprising of luxurious apartments, providing ultra modern facilities. With young professionals going in more for rented units the lifestyle apartments are attracting huge investments from people outside the state.Since, growing industries and infrastructure development is bound to give 100 per cent profit in the future and boast to the city, investment in the Coimbatore property is considered a wise decision by industry experts.