The eastern suburbs from Kurla to Mulund saw an increase of 6% in 2014 and 5% in 2013 as land was still available to launch new projects. South Mumbai and the western suburbs between Malad and Borivli recorded similar increases. Bandra, Khar, Santacruz and Juhu also saw average price growths, as these areas lack a good supply of high-rises. Rates in areas like Thane and Navi Mumbai did not rise much either; the uncertainty surrounding the proposed Navi Mumbai airport did not work in favour of the satellite city, said the report by Jones Lang Lasalle (JLL) India.
Chembur and Wadala stood apart from the lacklustre trend in residential price growth. "The two suburbs saw a tremendous price increase of 58% and 50% in 2014 over 2013, thanks to completion of infrastructure projects like the Eastern Freeway, which connects Chembur to south Mumbai, and the monorail, which was in the news recently for all the wrong reasons," it said.
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About us
MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.
Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.
Contact
501, 5th Floor, Plot No - A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) - 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
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