5 Years back South Mumbai was a Hot Spot, 3 Years Back BKC Lease Rentals were Rs.300/- to Rs.400/- PSF and now they are around Rs.175/- to Rs.275/- at max. The high End apartments in South Mumbai were going at the highest prices possible.
Suddenly things have changed!!! What has happened??? Nothing much, New Locations with all the basics of a growing location with similar or better amenities have come up and it is not stopping.
Mumbai city is becoming a divided city and each Micro Market caters to the residents need in its own way and if let us say a Hospital is not available in a Micro Location, at least it is not 30 KM away, but in the vicinity of the next Micro Location or just not too far away.
Growing Traffic woes and poor roads etc and long commutes is driving Mumbai Residents to choose Homes, Schools and offices in good proximity to each other.
This has enabled most of the locations to have Hospitals, Schools, Colleges, Malls, Office complexes etc. So, if you want the best appreciation, go North of where you are at cheaper prices and wait for 3 to 5 years for Capital Appreciation. Keep an Eye on Infrastructure and you cannot go wrong with your Investment.
In short, the Onus of Research is on you and when you Real Estate Advisor gives you some insights, please do not discount his findings.
Sandeep Sadh – Mumbai Property Exchange.