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Mumbai housing market to see deep correction

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Centrum Broking Pvt. Ltd. study revealed a drop in India’s housing rates from the top with the Mumbai Metropolitan Region (MMR) as it observed the least drop of 30-40%. Housing demand in Mumbai is expected at least 65-70 Million Sq.ft against 55-60 Million Sq.ft of supply. Head of Research in Centrum Broking Pvt Ltd. said to www.propertykhazana.com that, “Mumbai is exclusively located, as compared to other cities because of its big population, requirement for residential and the chances that are accessible. We are positive that with the improvement in the rates there will be an explosion in the demand.” The backsliding in Mumbai realty rates will draw forth the reasonability and is expecting to boost up the demand.
As per tot the sources saying @ the www.propertykhazana.com, the factors that are expected to result in a less rate fall in MMR comprises Strong availability of funds, clarity for Mumbai land developers and Steady availability of funds centralized on Mumbai developers which will assist these conglomerates to maintain the cash flow chomp. Mumbai outskirts are seeing big supply and the trend for sub-urbanization is expected to carry on with the suburban places by overtaking demand for small-medium format spaces. Renovation of lands in Mumbai offers huge chances for the developers in the improvement space. According to Maharashtra Housing Area Development Authority (MHADA), Mumbai has 19,650 vintage buildings which are old for about 50-100 years.
Source: NBTVLIVE

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