Post the New DCR Rules, the Mumbai Property market seems to be set Agile with numerous new launches. While the rates of most of the projects, which exist, have gone up from 15 to 20% in the past 6 months, the new launches by Top Developers seem to be doing well.
The primary reason being that Investors and Home Buyers have been waiting in the wings to go for the New Home with just 20 to 30% down payment and there after they can ride on the slab payments and enjoy appreciation and at the same time build an asset.
Keeping in mind the Global Economy and weak scenario, it seems like the property market may slow down, but as far as Mumbai Property market is concerned, we do not see any correction downward happening for sure. The reason here is the demand and supply in the micro markets in Mumbai. Certain locations may see heavy negotiations on table in MMR, but with new projects launches the party seems to be on.