Residential property prices in Mumbai have increased steadily after the correction seen post the Lehman debacle. In the period from the second quarter of 2009 to the same quarter in 2013, residential real estate prices in Mumbai have increased by 66%.
Big hypermarkets, cash-and-carry outlets, furniture dealers and designer wear stores often cannot find sufficiently large retail spaces within the city. Such stores tend to look for out-of-town properties in locations which are in line for anticipated growth as indicated by the directions in which the city is expanding.
In Mumbai, the iconic Express Tower is a good example of a real estate asset in a prime location of India’s financial capital that is ideally suited for advantageous repositioning.
A number of large corporates across the country have relocated or are in the process of relocating their headquarters to other areas. There are many reasons for this
Given the typical time-lag between an upturn in economic fortunes and leasing market activity, a full-fledged recovery in the leasing volumes of Mumbai’s office property market in early 2013 seems unlikely. Heading into 2013, doubts over future economic conditions may continue to dampen corporate demand.