look news india
Mumbai: Home prices in the suburbs of Mumbai have registered an increase of at least 10 per cent in the financial year 2023-24. As the prices of land and construction material have increased, the price of flats has also increased.
Mumbaikars are liking one BHK flats. The price of this flat has also gone up to more than Rs 75 lakh.
The demand for land plots in Mumbai city and suburbs is high and supply is low which affects the plot prices. The original residents get four houses in the redevelopment project. The price of flats made for sale has increased.
Residential properties accounted for 80 per cent of the total properties sold in Mumbai city and suburbs in the year 2023 and commercial properties accounted for 20 per cent. More than 1.5 lakh properties were sold. People with one room kitchen took one BHK flats with one bedroom kitchen and drawing room. One BHK flats are becoming relatively less. Developers are building two-BHK and even bigger flats. Two-BHK flats accounted for 20 per cent of the total flat sales in 2023. The price of a two bedroom flat in the suburbs has increased from Rs 75 lakh to Rs 1.5 crore. While in Mumbai city it has increased from Rs 80 lakh to Rs 2 crore. A total of 1,53,870 flats were sold in MMR (Mumbai Metropolitan Region) in the year 2023. MMR ranked first among the top 7 cities of India while 86,680 houses were sold in Pune.