There has been a rise in property prices in Mumbai.

Mumbai, formerly known as Bombay, is the capital city of the Indian state of Maharashtra. It is the most populous city in India, with over 20 million people. Mumbai is located on the west coast of India and is the country’s financial, commercial, and entertainment capital.

Mumbai is a bustling metropolis home to some of India’s most iconic landmarks, including the Gateway of India, the Taj Mahal Palace Hotel, and the Marine Drive promenade. The city is known for its vibrant street food, beautiful beaches, and bustling markets.

Mumbai is a hub for the Indian film industry, popularly known as Bollywood. The city is home to many film studios and production houses, and the industry contributes significantly to the city’s economy. In this news, we will tell you about the property prices in Mumbai.

There has been a rise in property prices in Mumbai.

According to the details, Mumbai’s real estate market has seen a price hike as luxury highrise buildings continue to be sold.

According to the other details, many well-known people have recently purchased expensive residences in South Mumbai. Creative Plastics Group and Indian singer Sonu Nigam are also included. Sonu Nigam purchased two apartments in Unicorn Building in Andheri West for a whooping INR 11.37 Crores. Likewise, Creative Plastics Group purchased 8 units for INR 154.61 crores.

The CEO/MD of Liases Foras claims that “luxury housing in Mumbai saw an increase in supply last year.” There was a 76% increase in the number of new launches of units costing Rs 3 crore or more in 2022.

However, as per global property consultancy firm Knight Frank India, only 1% of the apartments sold in 2023 in Mumbai. Prices in Mumbai averaged INR 20 crore, with 4% of homes falling in the INR 5–10 crore range.

Manahil Tariq
Manahil Tariq

Manahil Tariq, A content writer and copywriter with over 2 years of experience. Throughout her career, she worked with a diverse group of clients from around the world. She also works with real estate firms and marketing agencies. Writing is where her skills and expertise really shine.

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