Can anyone tell when the property prices / rates will drop in mumbai?

Question

Can anyone tell when the property prices / rates will drop in mumbai?

Answer 1

As per today's DNA business edition,around Feb 2007.

Mahesh.

Answer 2

In my opinion rates will go down in 2-3 months.Real estate prices should be at par with income and currently looks like it is not.

Home loan Interest rates are going up so its going to be difficult for people to purchase.I expect a drop of atleast 15% to 20%

Mumbai is plagued with lot of problems like huge population,poor sanitation,poor drainage,poor roads,bad traffic,slums,bad infrastructure,terrorist threats etc and real estate prices do not justify with kind of living standard people are having in Mumbai.

I lived in multiple cities around the world and nowhere saw pathetic life standard and that too very costly.

So people need to realize that and exit from Mumbai and make it better city.

Niru