Mumbai Builders holding capacity is under stress test now since they are holding vacant sky scrappers and structures as we do not see any dip in prices in Mumbai. Executives did mention that transactions had gone down substantially. Inspite of this fall in transactions, developers do not seem willing to reduce prices and are banking on their holding capacity. Prices in some of the areas are given below:
Area Base Rates (INR per sqft)
Sewri/Wadala 8,000-13,000
Chembur 8,000-10,000
Ghatkopar/Vikhroli 7,500-8,700
Bhandup/Mulund 6,500-8,000
Thane 4,800-7,500
Kalyan 2,800-3,000
Bandra 18,000-20,000
Santacruz/Khar 15,000-19,000
Vile Parle 12,000-14,000
Andheri 7,500-9,500
Goregaon 5,500-10,000
Kandivali 5,000-7,000
Mira Road/Vasai 2,500-3,000
Also check out the property prices of various projects in suburban areas of Mumbai.
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