Soaring rents in Mumbai leaving Manhattan behind.

Magicbricks.com Moderator says: Mumbai, the Financial Capital of India has always been a favorite destination for big business conglomerates, MNCs and financial institutions and various other companies which accommodate high profile office space in India. The increasing demand and limited supply of office spaces have made it the most expensive office market in the country leaving behind many European countries.

The average per sq ft cost in Nariman Point and Bandra Kurla Complex (BKC) is 1.5 times higher than Manhattan. In fact Nariman Point is positioned at the fifth spot in the list of the world’s top ten most expensive office centers. The Bandra - Kurla Complex and Parel rentals have gone up from Rs 200 to Rs 400 per sq ft per month in the last one year. Shortage of premium commercial space and increase in demand has caused a sharp increase in the city by 20-30% over the last quarter.

With such skyrocketing prices of office space, do you think Mumbai will continue to be the commercial hub of the country? Does this mean in the near future new townships such as Navi Mumbai will spearhead the commercial development? Do share with us your views and opinions.

Comments

[arun khanna]

builders will construct good flat if regulatory board come .
builder charge heavy intrest on late payment but pay less on late construction .
regulatory board will make agreement to sell which will look after the intrest of the buyer as well as seller Presently if we see the builder agreement to sell telescopicaly we will find that intrest of the builders is protected from all the four corners.

[Jay]

Did not know Mumbai will be so expensive. Any idea how much two bedroom flat costs there in decent area these days

[Jay]

Did not know Mumbai will be so expensive. Any idea how much two bedroom flat costs there in decent area these days

[Anoop George]

15 % of MRP is the booking amount and rest will be construction linked and can be through BTPT offer by HDFC Bank by which u just have to pay only the Booking amount and rest will be done through HDFC Bank, We deal with MRP which includes all ur Charges like club Membership , Utility ,Maintainance Corps,Car parking ,No Hidden charges ,Full Transparecy,Warburg Pinkus FDI is the Private Funding company which is with us ,allow me to help u out for furthur enquiries pls call me at :- 099299-22210, anoop.george@asipac.com

[Balti Singh (Mumbai Real Estate Business)]

Useful infomation. I learned something today.... Keep the good work.

Very impressive.

[Balti Singh (Mumbai Real Estate Business)]

Useful infomation. I learned something today.... Keep the good work.

Very impressive.

[Balti Singh (Mumbai Real Estate Business)]

Useful infomation. I learned something today.... Keep the good work. Very impressive.

[Subramani M]

Respected sir,

[Shant Prakash]

You are watching properties in India just log on www.mayaestate.blogspot.com

[linda]

Great investment opportunity in Costa Rica, Costa Rica properties beach condominiums, beach condos.
Visit us for more information at www.jaco-bay.com

[The Role of a Realtor]

When going to buy or sell a home, your first step should be finding a honest and hard-working realtor.

When going to buy or sell a home, your first step should be finding an honest and hard-working realtor. You can find a real estate agent by keeping an eye out for advertisements, calling your local real estate broker, or through the internet.

The role of a real estate agent is to represent your best interests in a real estate transaction. They work off of a commission, normally 6% of the sales price of the home. In most cases, that commission is split equally between the realtor representing the buyer and the realtor representing the seller. For a person buying a home, the service of the real estate agent is free, because commission is paid by the seller. The buyer, however, is responsible for most of the closing costs. The closing costs will be explained to you by your realtor and will be on the documents you sign when you go to the title company. Closing costs can also be negotiated on during the contract process.

The real estate agent, through their broker, has access to all of the MLS (Multiple Listing Service) listed homes in your area of interest. If you are a home buyer, the realtor can provide you with information about homes for sale that meet your criteria. They will then bring you to these homes and let you inside to see them. If you are selling a home, the realtor will list your home in the MLS, post a "For Sale" sign in your yard, and hold open houses to attract buyers. Be wary of discount realtors that offer to list your home for a lower commission. Studies show that, in most cases, your home will stay on the market longer and you end up selling it for a lower price than what you intended.

A real estate transaction is a complicated process that involves many steps and is best done with the help of a trained, licensed professional. A realtor can save you the headache of dealing with the other party in the sale, getting together the contract, and submitting all the documents to the title company. So when you are ready to buy or sell a house, contact the local real estate agent.
I had come to know these kind of information through the realtor site which I have recently visited www.realestateinwoodstock.com

This site shows much useful information about the real estate business

[Thelandsmiths]

TheLandSmiths.com is an online endeavor to streamline a much chaotic properties market in India. With our efficient service and support of our partners, we are constantly working on to regulate the India property market via this virtual platform.