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Price and demand for Mid-segment flats downfalls in Mumbai

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It is added by the sources to the www.propertykhazana.com that the prices of the mid-priced apartments are taking a down turn and earlier the price of an apartment was tagged from 40-90 lakhs and gradually the prices are coming down with not less than 30% of the market price.
Apart from some localities, Mumbai has an equal demand for the residential units in the posh area and in the meantime, the investors are considering Pune, Nashik, Thane, the Tier-2 cities in Maharstra for their dwellings as well as for realty investments.
In fact, it is not only the investors moving to other cities is the only reason for the down fall of the property prices in Mumbai and there are several other undisclosed reasons says the realty dealer to the www.propertykhazana.com. despite, the price fall, there is investment flow at its best and some section of the people are observing the market conditions and are eagerly waiting to get the advantage of the downfall.
It is also reported that the property prices in the suburbs and the areas namely Mulund, Borilvali and Mira Road have come down and the demand seems to be less in the 3rd quarter of the financial year 2006.
Source: NIMMA BENGALURU

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