One BHK avail­able for 26 Lakh in Mu­lund, Mumbai

Accommodation Times - - News - By AT News Ser­vices

Huge in­ven­tory have made pre launches of­fer for Rs.6500/re­cently and some of the builders have been of­fer­ing for 8000/- for ready flats in tow­ers and mod­ern ameni­ties projects. 99acres has list­ing of over 1000 prop­er­ties out of which 150 are on­go­ing projects.

About 150 new projects which are al­most ready or 70% un­der con­struc­tion are de­vel­oped by big re­puted names have flooded the mar­ket in Mu­lund West. Over sat­u­rated Mu­lund (w) will house a mil­lion more peo­ple soon. apart­ment for Rs. 26 lakh to Rs.1.2 crore for new projects and the re­sale of old prop­er­ties upto 10 years are been sold at much lesser rates. Plenty of sup­ply yet to come as more than 100 big projects files are wait­ing for ap­provals. Slum and re­de­velop- ment not added to above fig­ure. South In­dian and Kutchhi com­mu­nity dom­i­nat­ing the re­gion. Acute short­age of power and wa­ter still per­sists. Har­iom Na- gar, MHADA colony and other low ly­ing ar­eas have opted for NOTA vote in last gen­eral elec­tion be­cause of foul smell from the dump­ing ground. BMC had or­dered probe when dump­ing ground is not even 200 m from res­i­den­tial build­ings. Huge in­ven­tory have made pre launches of­fer for Rs.6500/- re­cently and some of the builders have been of­fer­ing for 8000/- for ready flats in tow­ers and mod­ern ameni­ties projects. 99acres has list­ing of over 1000 prop­er­ties out of which 150 are on­go­ing projects. With the news of Nir­mal Mall clo­sure since mall foot fall were mere vis­i­tors and not shop­pers, oc­cu­pants were va­cat­ing the Mall. Few of them now got no­tice that lease will not be re­newed. Five lakh sq.ft. mall from Nir­mal will soon be closed and most likely that it will come as res­i­den­tial project which will add fur­ther in­ven­tory in next three to four years. Such in­ven­tory re­stricts the cap­i­tal ap­pre­ci­a­tions ex­pected by in­vestors. Rates are likely to climb down soon as noth­ing is sell­ing. Counter claims re­ceived by this news­pa­per that re­cent hype by a re­puted builder that 300 flats were sold by him in one day of open­ing makes sit­u­a­tion more worst. Sales gymicks of film in­dus­try is put to use in real es­tate in­dus­try. When a film is re­leased, pro­ducer buy all tick­ets of first week show to make it mass hys­te­ria that film is house full. Sim­i­lar sale tac­tics were adopted by the builder, claims bro­kers and com­peti­tors of the builder who re­cently launched tower projects in Mu­lund West.

99acres is of­fer­ing one BHK

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