This debate or debacle is on its zenith today.
Mumbai Property Market is going to go through a sea of a change in the next 3 years owning to ongoing Metro works across the city and suburbs.
As soon as the clarity comes and time lines appear more achievable it’s anticipated that people will shuffle do to sheer convenience created by the shrinking of distances and comfort travel in Mumbai.
The residents of Mumbai have long lived and traveled in misery and once the Metro comes up surely people will want to opt out staying in locations which are in good proximity or walking distances to their homes or offices in Mumbai.
We see majority of people who are currently in a 1 bhk or a 2 bhk apartment in any part will move and upgrade them selves to a newer building of a 2 bhk or a 3 bhk or simply change their location due to better connectivity.
A lot of people prefer staying on rent in 2 bhk or 1 bhk in Mumbai due to their work commitments and live in compromising conditions.
What the Metro connectivity will surely do is give them an option to buy or lease or rent another flat, terrace flat or any other kind of property in suburban locations.
So which property market will get better appreciation is the question which is asked by lot of home buyers in Mumbai.
We feel that suburbs where the property prices are in the range of 50 lakhs to 80 lakhs for a good 2 bhk have a little chance of appreciation.
But property markets which are Western Suburbs or South Mumbai may not have a great price movement but may have traction.
Past 2 year the new launches have become less compared to 2014 and 2015, this market is currently is looked upon as a buyers market but when the already launched projects finish in 2022 to 2024 and if the absorption ratio becomes better then we can see an upward trend but not sky rocketing.