A study by 99acres.com,says the property prices for the Mumbai region has seen an escalation in prices if we compare per square feet prices(PSF) of Q1-12 over Q1-11. This clearly reflects that the overall sentiment of the sector has improved drastically.
Anmol Shah, the Gujarati businessman settled in Mumbai, has both the emotional as well as rational reasons to invest in property this time on Akshay Tritiya. His astrologer has suggested that very much like a few years back when he bought his first flat in Mumbai, followed by an office in one of the Central Business Districts (CBD) on Akshay Tritiya, he should yet again buy the second house on the auspicious day this year.
The over-heated Mumbai property market is taking its toll on the property transactions and sales in Mumbai property is the lowest of the six major cities across the country. According to reports, over the last one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent.
During the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone’s lip, Bangalore registered both healthy transaction as well as upward price movement.
The Supreme Court on Friday, Jan 20, gave two Sahara group companies three weeks to choose between two courses to secure investments made by the public in their controversial Optionally Fully Convertible Debentures (OFCD) scheme.
The year 2011 can best be described as a lackluster year for Indian real estate sector. There were several headwinds that prevented the sector from delivering to its full potential.
Property rates in the capital are set to zoom further as Delhi Government on Monday, October 31, hiked the circle rates by up to 250 per cent to check black money in sale and purchase transactions.
Indians are the biggest property buyers in Dubai among foreign nationals, as per the figure released by the Dubai Land Department (DLD) for the first half of 2011.
Valuation of immovable properties owned under general power of attorney (GPA) might fall by about 20 percent as the Supreme Court has declared the sale of properties through this deed illegal, industry experts said Friday.
Mumbai continues to be the costliest property market in India but the sales graph show this price rise has started taking its toll on the sales figure.