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MUMBAI BUZZING WITH REAL ESTATE BOOM

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Mumbai is the epicenter of financial activities. This city suffered a lot due to economic slowdown. However, the good news is that the real estate has picked up very well. It has started in Bandra Kurla Complex (BKC). A pharmaceutical company purchased 15,000 square feet space at Rs. 31,000 in the multi storied building which is a big building at BKC. This deal is important because it marks the beginning of commercial boom. The director of Parinee Developers said in an interview to www.propertykhazana.com that “The time is ripe for the investors and corporates to purchase the area at BKC”. He inked the deal but declined to reveal the name of the purchaser.
As per the sources reported at www.propertykhazana.com, the economic slowdown hit the real estate sector very hard. The commercial market saw a huge decline and residential market saw an upward growth. There was 45% decline in the deals in Delhi, Mumbai, and NCR regions. The situation improved in the month of December.
Ravi Ahuja, executive director, development services, of Cushman and Wakefield disclosed, “After witnessing the dull sales in the year 2009 the circumstances in BKC is stabilizing. The time is correct for the buyers and sellers to enter into the market on a high note, particularly, at a time when the demand factor has gone up by 35%. BKC is considered to be a good alternative to overcrowded Nariman Point. There is a very good infrastructure and good amenities, coupled with advanced designs will add value to this place.
BKC is easily accessible through the Metro, Bandra-Worli Sea link, Sion-Kurla flyover, Santacruz-Chembur link Road. The region has got good schools, hotels, colleges, companies, healthcare and host of other establishment. For more information, please visit www.propertykhazana.com.
Source: NBTVLIVE

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