Location

Location Review & Analysis as done in April 2006.

Borivali  to Andheri West

This belt has seen on an average more than 150 Projects on till date and most of the projects have shown increase of over Rs.1000/- to Rs.1500/- over the past 12 Months or so. There are limited or select options left in Premium Projects. The Oberoi, Rahejas and other top names have zero or little stock left. The future outlook is positive, there is a constant demand in this sector. Leasing is growing in these locations. Preferred belt by NRIs and Investors. Average Rates Rs.3500 Rs.7000 PSF

Outlook Good for Self Use, Certain Projects are still good for Investments, New Launches in April May June.

Bandra Juhu

This has become a premium belt with most of the builders making only 3 or 4 bedroom apartments. The prices have gone upto Rs.14000/- PSF in select projects and it is more for individual high net worth users for home than for investments. Average Rates 9000 15000 PSF.

Outlook Most of the premium projects have limited availability and since prices are high the choices get limited.

South Mumbai

There are a few projects in Mahim, Prabhadevi, Tardeo, Girgaon, Worli, Lower Parel, Sewree areas. With the Mill lands opening up now at least the stocks which were stuck will open up. This location is becoming a strategic location but one has to wait and watch still on the new launches in these properties.  Average Rates Rs.7000/- to Rs.18000/-

Outlook New Mill Lands opening up will slightly easen the supply but no major price difference is expected.

Central Mumbai

Wadala, Chembur, Matunga, Sion are few locations which are dominated usually by actual users than Investors. But over the past 1 year there has been investments made by NRIs, Investors etc. in select projects of a few Top builders. Leasing is holding a good potential in this area for future. Average Rates Rs.4000/- to Rs.11000/- PSF

Outlook   The rates in certain areas look to have some potential.

Eastern Suburbs

Mulund Vikhroli, Powai

This is another belt where the action has been. A lot of large property transactions are seen in this belt. This location is getting hotter keeping in mind the easier connectivity to Navi Mumbai, Thane, Western Suburbs and South Mumbai. There are still a lot of potential properties in this region which are under construction. At least 5-6 large Malls will be coming up here in the near future.

Thane

Nearly each builder has its presence in Thane today. The most sought after being the areas like Vasant Vihar, Ghodbunder Road and the areas close to the Eastern Express Highway.  Thane has nearly 200+ buildings underconstruction all over and with emphasis on infrastructure the prices still look to be interesting in certain areas. Average Rates Rs.1800/- to Rs.3000/- PSF

Outlook The future looks pretty good as the increasing rates in Mumbai will drive people to Thane for better quality living and housing.

Navi Mumbai

Navi Mumbai has seen a lot of action in the past 1 year. The property prices in Kharghar, Belapur, Vashi, Koparkhairane etc. are touching new highs. The Palm Beach road is getting busier by the day and the Malls and large relocations in DAKC and other IT Parks has seen a surge in Corporate Population. There is surely potential in these locations. Airoli is the next hot spot with a lot of action in Commercial and Retail. Average Rates Rs.2000/- to Rs.4500/- PSF.

Outlook Bright Future with Maha Mumbai and SEZs and Airport planned out, it may be a beneficial to invest now in select projects.