Any news paper you see today in Mumbai carries dozens of ads of Gudi Padva offers and below it a fine print saying Book before 31st March 2014 and save few lacs rupees.
This essentially means that after 1st April 2014, you will see an increase in the Property Prices in Mumbai.
With Stock Markets on a high and with lots of new launches, the home buyers are back in the market, but with a cautious approach this time.
The developers version remains that there has to be a cut off time for a decision and if there is no fear of a price hike, the home buyer continues to be on the fence. The Home Buyer feels it is an undue pressure on him to buy a house.
Unlike yesterday’s market, the buyer has many options today, locations between Andheri East/Powai and Borivali, we have 50 odd projects of Top Developers competing with similar lifestyle projects, Thane has the same story with every developer giving the best possible amenities and prices.
The market sentiment is surely high, the Investor domination still remains agile and the impetus is more on the smaller ticket sizes. South Mumbai is seeing fierce competition and a few developers are seen to crumble under pressure.
Mumbai market is one of the strangest markets, where in the developers take ques from their peers and make large size apartments where the appetite is for smaller ticket sizes.
It is unpredictable as to which side the markets will go forward in May 2014, but the Developers have certainly added a cushion of pricing with the price increases slated to be hiked come 1st April 2014.
Sandeep Sadh -Mumbai Property Exchange.com