Booking of 2 BHK and 3 BHK Flats has increased in Mumbai
According to a report, the booking of 2 BHK and 3 BHK flats has increased in Mumbai. Mid‐sized flats and bigger houses
contribute up to 70% of the total sales. Despite facing slow deals in real estate the expert witnessed demanding inquiries
of 2 bHK and 3 BHK flats in Mumbai. It is seen that smaller segment homes have low demand and sale goes down up to
24% of the total demand.
There has been an increase in the demand for residential homes in nearby Suburbs including areas like Navi Mumbai, Thane, and Kalyan. By the way, there are many factors behind this increase in demand, such as a reduction in the prices of houses by the builders convinced to survive at the low‐profit margin, along with that there is a decrease in 2 % stamp duty & easy flexible payment options, availability of cheap home loan rates, quick approval in loan process & availability of affordable pricing.
Residential markets of thane, Navi Mumbai and Mumbai has seen price correction ranging from 0.7% to 1.4% in the last 3 month. In Thane and Kalyan, the demand for flats is at a peak for the last 3 months. There has been a huge jump in property prices in all these three suburban areas but the inclination of homebuyers towards under‐construction flats has been noticed.
But this is because of the affordability and flexible loan repayment options. After Thane and Kalyan, Navi Mumbai remains on the list of home buyers, people do not miss inspecting the home in Navi Mumbai. Economic condition and construction have come back on track in mid‐May and June, it is expected that steady growth will be seen now.
Conclude: Economic condition and construction have come back on track in mid‐May and June, it is expected that steady growth will be seen now. The spurt in the booking of houses in the last 3 months has also accelerated the construction work, even the process of loan processing and documentation of the bank. So now the key to your home is in your hand.
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Date: 28th jan 2019