Being a major cause for growth of the country’s economy, the real estate sector in India is estimated to be valued at a whooping 180 billion US dollars by the end of this decade. It is amazing how in the past 10 years or so, this industry has evolved into an organized market consisting of multinational companies, retail brands, housing complexes, hospitals, hotels, etc, especially in metropolitans and two tier cities. The developers and builders must be given due credit for the pace of growth and development seen in the field. For instance, the leading real estate developers in Mumbai are responsible for creating state-of-the-art projects that attract foreign investment in commercial as well as residential properties. The FDI inflow between April 2000 and September of 2010 has been recorded to be more than US$ 8.9 billion (INR 403 billion).
Mumbai’s skyline has also seen major alteration. The ever increasing number of people living in the city and the floating population that commutes to the city for work each day has played the chief role in the high density of vertical stacked design developments throughout the city. These days, developers are not only coming up with skyscrapers but also with complexes that have multiple functionalities like a commercial building with some residential occupancy. The real estate market in such metros is witnessing a high in price appreciation, construction activities, as well as standard of development. The leading developers are now in tune with the investor’s nerve. The aspects that were once weighed only by a buyer are now being considered right from the land dealing by the developer, so as to add basic value to the project.
In relevance to residential properties, the city’s leading developers are taking into consideration the long term development potential of the location and area, making certain that the vicinity has a good social infrastructure, convenient public transport facilities, adequate economic growth potential, and so on. As the demand for high-end residential property has seen a fall in the last few months, developers are now concentrating on affordable mid-segment projects that provide good location and modern day amenities. The emphasis nowadays is not on the price tag, but about the quality of the project.
Investors today are most interested in the credibility and track record of the real estate developers in Mumbai before deciding to make a substantial investment in the market, as this ensures a lot of other aspects such as clarity about delivery of the property, quality of construction, facilities provided, functional design, aesthetics, future development of the vicinity, etc.
Mumbai’s skyline has also seen major alteration. The ever increasing number of people living in the city and the floating population that commutes to the city for work each day has played the chief role in the high density of vertical stacked design developments throughout the city. These days, developers are not only coming up with skyscrapers but also with complexes that have multiple functionalities like a commercial building with some residential occupancy. The real estate market in such metros is witnessing a high in price appreciation, construction activities, as well as standard of development. The leading developers are now in tune with the investor’s nerve. The aspects that were once weighed only by a buyer are now being considered right from the land dealing by the developer, so as to add basic value to the project.
In relevance to residential properties, the city’s leading developers are taking into consideration the long term development potential of the location and area, making certain that the vicinity has a good social infrastructure, convenient public transport facilities, adequate economic growth potential, and so on. As the demand for high-end residential property has seen a fall in the last few months, developers are now concentrating on affordable mid-segment projects that provide good location and modern day amenities. The emphasis nowadays is not on the price tag, but about the quality of the project.
Investors today are most interested in the credibility and track record of the real estate developers in Mumbai before deciding to make a substantial investment in the market, as this ensures a lot of other aspects such as clarity about delivery of the property, quality of construction, facilities provided, functional design, aesthetics, future development of the vicinity, etc.
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