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In Mumbai 70 Percentage auction has plunged down in Housing Property auctions

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According to the sources available to www.propertykhazana.com, the present reports says the country flashy realty market has sink down by 70% and Mumbai was in top since from 2007. Market specialist says that as the high-rise property values and hike in interest has corrupted the property market in Mumbai.
A report also reveals that, “Unsold record levels are predictable to be nearly 27% of the under-construction projects, also the shareholders section which creates nearly 20% of the market demand has been viewed to be the enthusiastically decreasing its realty portfolio thereby adding up the important outline supply into the market.” But, apparently in Mumbai Western Suburbs, Navi Mumbai and the outskirts of Mumbai has twofold to almost 30% in the pervious year even though the central Mumbai strikes the toughest moved to 45%.
Unfortunately, Mumbai is now facing the dropdown in property auctions where housing property auctions are sinking by 70%. And because of the increase in the interest rates it has ruined the property auctions in Mumbai and even the developers are also willing to reduce the values.
Source: NIMMA BENGALURU

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