Sunday, January 22, 2006

Boombay! More real estate development expected in Mumbai

The boom in Mumbai's real estate market - going by the recent trends - is expected to continue and this commercial capital will see more shopping malls, multiplexes, five-star hotels, skyscraper commercial complexes and international standard residential accommodations in the times to come.

At the same time, the next few years would also see rapid re-development of slum dwellings. Besides this, several infrastructure initiatives are also on like the Versova-Ghatkopar mass rapid transport system. Also, transportation by sea route is set to make travel easier. The recent auction of a plot for convention centre at the Bandra-Kurla Complex (BKC) at Rs 1,104 crore - the bid of which was won by Mukesh Ambani-controlled Reliance Industries Ltd - sets another benchmark for property prices. The per sq foot value exceeds more than Rs 18,000.

Experts feel that scarcity of land and its rising prices are driving the property values up in this island city and predicted that the future of property market would be more towards the suburbs.

(Full report by Mrityunjay Bose in today's Maharashtra Herald)

4 comments:

Suresh said...

Yes...more money is chasing few available properties...

Prakash Ghatpande said...

regarding real estate registrations in govt offices i rember the news regarding suspension of officer and staff of Sub Registrar Haveli No. 4 Pune sounds as if the Inspector General of Registration is not aware of the fact that outsiders are working in the offices of registration. This seems to be also a ‘news’ to him given by mobile which common man often notices in day to day life. I really wonder how this can be a ‘news’? All of a sudden how the event has achieved a front page news value? Such practices are often noticed by him in our court offices, passport offices, revenue offices, R.T.O. offices, , Police Dept. Well known Temples etc. Even after knowing ‘the news’ I.G.R. has not launched any police complaint against the outsider (Mr. Godambe) for duly signing the govt. receipt which is known to be very important document

Prakash Ghatpande said...

If real estate is so booming then registration offices of these estate are also becoming valuable.The news regarding suspension of officer and staff of Sub Registrar Haveli No. 4 Pune sounds as if the Inspector General of Registration is not aware of the fact that outsiders are working in the offices of registration. This seems to be also a ‘news’ to him given by mobile which common man often notices in day to day life. I really wonder how this can be a ‘news’? All of a sudden how the event has achieved a front page news value? Such practices are often noticed by him in our court offices, passport offices, revenue offices, R.T.O. offices, , Police Dept. Well known Temples etc. Even after knowing ‘the news’ I.G.R. has not launched any police complaint against the outsider (Mr. Godambe) for duly signing the govt. receipt which is known to be very important document

Medha Purandare said...

Can Mumbai accommodate all these new constructions? Recent flood must have taught right lesson for planned development,if desired.

Mumbai being India's economic reflection,must be taken care of. Best wishes to "Amchi Mumbai".