Real Estate Mumbai (Mumbai City History)

Metropolitan lifestyles demand the need for apartment-style homeownership. Mumbai is turning into a hypermeter with the booming real estate sector making more news with its fickle indications. Shopping malls, hotels, restaurants, playgrounds, the running track are expanding and the focus is also on connecting the areas with walkways and bridges. The government sees a lot of effort being put into developing wasteland, vacant land, and converting landfills into multiplexes or huge multi-facility complexes.

The trend is also seen in commoners taking advantage of home loans with the relaxation made by the Ministry of Finance. Although the movement is getting busier than before, people are still not very interested in investing in property. The news is that recession trends are predicting a further drop in rates, which will be beneficial to many wage earners. The NRI sector is also looking forward to such a reduction in housing rates so that they can make a safe investment.

Earlier houses in Mumbai as per the story were simple in profile with minimal facilities. One can also see some bungalows or townhouses that are now also being sold to builders at a breakneck pace and the skylines are now littered with tall towers. Although there is rapid urbanization, Mumbai still has its heritage intact and that shows with the vast playgrounds. Many clubs are interested in developing land into golf and recreation clubs.

Malls and multiplexes are also growing at an alarming rate and the previous shopping system is now being replaced by impulse purchases. This shows a clear change in the lifestyle of people who also look for the conveniences of the supermarket when buying a house. The modern complexes also have service bathrooms on each floor, state-of-the-art security system, modular elevators, and strong management that gives the colonia a sanitized look.

The market is escalating in terms of buying and selling second homes and there is more interest from people looking for rental homes. The previously stagnant market is now gearing up for a change with new builds showing exciting amenities now becoming affordable.