Mumbai realty rates are becoming unaffordable for many

18 Feb 2013 CW Team

Mumbai, the financial capital of India, has become too much expensive for many with regard to buying a house. Day by day property prices are heading north. There was a time when properties were available between 6,000 and 7000 a square feet in Mumbai鈥檚 central suburbs but now the same place is quoting prices of 12,100 per square feet.

The transformation in prices have been accepted both by home buyers and investors where 12,000 a square feet has become a normal price in residential market. The real estate market of Mumbai is one among the costliest realty markets in the world where property prices have gone beyond 1,00,000 per square feet in prime residential areas like South Mumbai.

Besides, South Mumbai is one of the expensive residential localities in the world as well as home to the billionaires like Ambanis, Tatas and the Birlas.

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