Tuesday, April 24, 2007

Real Estate Boom In Mumbai

Last few years have seen a fabulous increase in the demands for property in Mumbai. To overcome these growing demands for properties in Mumbai, more builders and developers are investing in residential and commercial property market of Mumbai. Most of these builders and developers are investing in properties in Mumbai suburbs.

Since property demands in Mumbai are higher than the supply, the property prices in Mumbai have risen up during the span of time. Right now, property prices in Mumbai are out of reach of a middleclass buyer. Recently, Government of Maharashtra has taken some positive steps to keep a check on the price of properties in Mumbai and other cities of Maharashtra. But to allocate more space for the development of new commercial and residential projects in Mumbai is the need of the hour.