Report on the boom in the real estate sector!!!
In July 2024, a report by property consultant Knight Frank came out. This 'Prime Global Cities Index Q1 2024' report states that a strong jump in property prices is being seen in Mumbai. Property prices have seen a tremendous rise of 11.5 percent between january and March, the first half of this year. In the report prepared on the basis of property prices of the top 44 cities of the world, only two cities of india have been named. In these, the average increase in property prices in mumbai was 1.1 percent. It is in the first place and delhi is in second place with 10.5 percent. Apart from this, according to the report of ISIR in July, Mumbai's real estate market is not only the most expensive in india, but it is also one of the most expensive markets in the world where property prices are increasing the fastest.
In the country's financial capital mumbai, the prices of property or real estate have always been high, however, now the prices of property are increasing not only in posh areas like South mumbai but also in suburban areas adjacent to the city. Property rates have also increased significantly in areas like Thane, Mira Road, Borivali, Kandivali and Palwal adjacent to Mumbai. Here in Powai too, the property rates are quite high because IIT mumbai is also located here and this area is comparatively less crowded than Mumbai.
One of the reasons for the increased prices of suburban areas is that the availability of local trains to go to mumbai is good and good connectivity can be the reason for this. If we talk about the real estate sector in mumbai which comes under the ever-growing property and realty sector, then areas like Aarey Road, which were not very commercial earlier, have also become one of the most crowded areas due to the possible metro station here.
Know the property rates in major areas of Mumbai
Property rates in Malad east (Western Mumbai) are Rs 25,950 per sq ft
Property rates in Aarey Road range from Rs 15,999 to Rs 26,892 per sq ft
Property rates in Andheri range from Rs 19,149-32,204 per sq ft
A 3 BHK flat in Chembur will cost you Rs 3.25 crore or Rs 20,810 per sq ft
A 2 BHK flat in Marol will cost you Rs 2.44-2.53 crore.
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