Real Estate Prices May Grow by 6% in Mumbai in 2016

Real Estate Prices May Grow by 6% in Mumbai in 2016   Including Navi Mumbai and Thane, there are other suburbs in Mumbai which have witnessed price rate of 2.8% in the year 2015 when compared to 5% in the year 2014. In 2016, the real estate prices are supposed to rise by 6%, against 3.3% of slow growth in the year 2015. The subdued growth in the average property prices in Mumbai has come as a great surprise as it was expected to grow up at 6% to 7%. On average, the prices of residential property in suburbs of Mumbai have seen great appreciation by 7%. As per the reports from JLL India, a real estate consultant, unlike the period of GFC (Global Financial Crisis), when prices witnessed slow growth across the suburbs and city, the market has witnessed significant rise over the past couple of years. It is surely good news for loads of end-users who love to have a house in the city which has the priciest real estate in India. A well-known developer, Dosti Group, has developed Dosti Vihar in Thane. It is located on Pokhran Road, Vasanta. It is located in the proximity of Korum Mall. It enjoys easy and fast connectivity to Fort, Borivali, BKC and Powai. South Central Mumbai and various eastern suburbs at the sub-market level have witnessed great appreciation at 4%. Smaller residential units are witnessing huge demand because of affordable rates and several builders are offering these projects in prime locations. They are witnessing great demand for lavish homes because of wide range of facilities. Dosti Vihar is one such example of affordable real estate where lifestyle has ample space to flourish well in great flamboyance. It has broad and wide spaces that will strengthen the scope of luxurious living and taking the same into the realms of your mind, heart and instinct. Here, you can find the luxury which can be seen from the corridors of 29 storied luxurious towers. The focus of Maharashtra Government will be improved on affordable housing and infrastructure to raise the real estate sentiments to a huge extent in the city.