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%.
There is a steady and inflexible demand for studio apartments, both in the metros and tier 2 cities. These apartments are usually the first to be sold out in a residential project that features them.
Over the last six months, the housing market in Mumbai had started showing signs of revival after an 18-month period of sluggishness beginning in the 4th quarter of 2010. The hiked Ready Reckoner rates could dampen that revival.
Neharpar is developing into a megahub for residential real estate and commercial projects. The biggest draw is that property is still available at affordable rates
In terms of residential property value, Keshavnagar in Pune’s Mundhwa area benefits from its advantageous proximity to Koregaon Park, of which Mundhwa is now considered an extension. It is one the increasingly rare locations where purchasing a budget home in a strategic location in Pune is still possible.