Luxury Home prices fall 18% in Mumbai

February 2, 2012 Leave a comment

The high-end residential market in the country’s financial capital has witnessed the steepest fall in prices in a survey of global cities over the last one year even though average property prices in the city continue to be considered unreasonably high.

According to the prime global cities index by property consultants Knight Frank that tracks luxury residential trends in 23 key global cities, the Mumbai luxury market has registered the maximum dip at 18 per cent.

The properties in the premium segments include the top 5 per cent of the housing market in every city. In Mumbai, these are projects that command upward of Rs 50,000 per sq ft.

These include super-luxury projects in the plush areas of the island city such as Napean Sea Road, Carmichael Road, Altamount Road, Peddar Road, Breach Candy and Malabar Hill. Property analysts point out that the reason for prices nose-diving is the extremely speculative and sentiment-driven nature of the luxury residential segment in Mumbai.

Samantak Das, National Head of Research at Knight Frank India, said this is in sharp contrast to the commercial market where prices are determined by actual business activity.

He added that from 2010 to early 2011, this luxury market segment saw high volumes propelled by a bullish macro economy and positive signals given by the Indian government.

“The premium housing segment in Mumbai operates in extremes where buyers go into a buoyant investment spree during good times. Any signs of a downturn and they become conservative and go into a shell,” he said. The sector plummeted following downgrading of the economic forecast, inflation curbing measures introduced by RBI and the poor show in the share market.

The average value of prime property world-wide rose by 3 per cent in 2011 while in Asia it fell by 1 per cent. The report points out that this second phase of slump in the luxury residential market since late 2010, is markedly different from the price correction post the Lehman Brothers collapse in 2008.

Back then, the impact was most visible in European and North American cities. Over the last one year, the old world markets of London, Manhattan and Moscow markets have maintained a slow yet positive growth rate at 12, 9 and 3 percent respectively. In comparison, the Asian premium housing market—which until mid-2010 was rising at an average rate of 23 percent each year—is now leading the luxury market slowdown.

Source: http://www.indianexpress.com/news/luxury-home-prices-plunge-in-mumbai/905970/

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Pre-Launch property at Goregaon West

January 16, 2011 Leave a comment

A single tower of 3BHK Luxurious apartments of different sizes ranging from 1500 sqf to 1700 sqf with large balconies. Being developed by a reputed Developer with many completed projects. Project is just off SV Road (with the adjoining building on SV Road). Convenient connectivity to SV Road, Link Road. Excellent Schools, Colleges, Hospital, Mall & Theatre in the vicinity. Very close to Goregaon Station & Bus Depot. Project completion time 1.5 years. Good price compared to completed projects of similar quality.

Elevation

3BHK Luxurious Apartments

Investment Benefits :

Discount to market price

Excellent Location

Easy Liquidity

Faster Capital appreciation

Lower construction time

Reputed Developer

 

Call 9820610378 or write to HighRise Property Consultants for the brochure & other details

Pre-Launch Property near Lokhandwala – Andheri West

January 10, 2011 Leave a comment

Pre-Launch property at Andheri West, SVP Nagar,  near Lokhandwala Complex.

Single tower of 22 floors with 4 flats on each floor of 2.5 BHK.

Advantages:

1. NO TRANSFER CHARGES

2. NO LOCK-IN PERIOD

3. Significant discount to Market Price

4. Significant discount to Launch Price

Locational Advantages

Excellent Location. School & Kokilaben Dhirubai Ambani Hospital within 500m radius.

Write to HighRise Property Consultants or call 9820610378 for further details.

Off Market Pre-launch Property Investment

January 9, 2011 Leave a comment

Off Market Pre-launch Property Investment

Project by – Sky Heights Construction Pvt Ltd

Project name – Dream Homes Details – Located at Shilphata, The project comprises of 15 Residential towers of 18 storeys each and one Commercial building Amenities – Club House, Swimming Pool, Jogging Track, garden etc

Proposal – Advantages for investors

1. NO LOCK-IN PERIOD

2. NO TRANSFER CHARGES

3. Significant discount to competition

4. Significant discount to Launch Price

5. Other charges not payable (Till registration)

Locational advantages – 15-20 minutes drive from Powai, Thane and Panvel. Located between three MIDC’s and a Business Park.

Corporates within 5 kms – Reliance Group Companies eg. Life Sciences, IT Park, Reliance Communications, Dhirubai Ambani Knowledge City etc

L&T Automation, Siemens, Stock Holding, DNA, Sovereigntech, Hexaware, Mastek, Patni, Allied Digital, Omnitech, CMS, NELCO etc

Infrastructure – 6 lane highway.

For project brochure, write to HighRise Property Consultants or call 9820610378

Prosper with Property Investment!

January 7, 2011 Leave a comment

Seasons Greetings from HighRise Property Consultants.

Last year we had suggested 6 new properties for investors and we are proud to say that all of them are reaping excellent returns to our investors. We thank you for your business in 2010 and we promise that we will continue to present many more properties in 2011 for investments.

Wish you a very Prosperous & a Happy New Year

Prosper with Property Investments!