Real Estate Market In Mumbai On Rise, Says Experts

By Author: Mahaavir
Total Articles: 10
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Real estate consultant JLL India has come up with a report that says that real estate market in Mumbai is back on the burners. JLL India, which is the Indian arm of the Chicago based firm says that they expect the process to raise by five to six percent for the financial year 2015-16. Experts believe that there are quite different reasons for such a speculation.

Rise in service tax and reckoner rates are one of the reasons. Then other reasons are hike in land value. Also, the govt. has increased the service tax from 12.5 percent to 14 percent. Raw material prices have also increased, and then there is hike in legal fees, attorney fees. Maharashtra govt. has increased reckoner rates by 30-40 per cent.
The govt. in January this year also increased tax on purchasing new property. These tax include stamp duty, VAT, registration charges and sales tax. Then the news of clearance to the Navi Mumbai International Airport and extension of Metro has also spiked up the prices in both Mumbai, and Navi Mumbai. With the positive sentiments prevailing real estate developers Navi Mumbai are hopeful that their projects would now ...
... be sold of quickly.

Real experts too were in the agreement of the findings of the report and said that they too anticipate a rise in real estate prices in the current financial year. According to them, it is the right time for the investor to invest in real estate residential/commercial units on sale and lock the property. It will give them handsome returns once the market blooms to its full capacity.

Many of you would say that half of the year has crossed by and there has been no hike, but according to the experts it is the second half of the year that would see the rise. According to them, they are seeing the recovery already as the number of queries on the online portals for housing is on increase.

With the coming of this news, real estate companies are planning out the strategy to woo the customers by offering them hosts of discounts. So, if you are one of the investors looking to invest in and around Mumbai, the time is ripe to invest. As a piece of advice, before finalizing any project, look for best real estate company reviews where you can read what previous people are saying about a particular project or real estate developer.

So, now when you also know the news, and have the money to invest, jump on the bandwagon and book your dream property at dream prices. Or if you are looking for only investment purpose, then also the time is right. Hope that this news proves of use to you.