Builders in Mumbai Offer Residential Complexes in Their New Launches
In the past 2 years, builders in Mumbai have seen real estate market going through a hard time due to sharp cost escalation (of around 60 per cent). However despite high cost sheet there is a demand of residential projects in Mumbai. Especially residential projects along with the amenities are quite in demand.
Understanding the interest of people, Builders in Mumbai are now making the new launches focusing more on constructing residential complexes. Residential complex is such residential project that offers multiple high-rise towers with around more than 60 apartments of various sizes including the modern amenities such as gymnasium, sports zone, ample parking space, open areas along with good safety and security features, convenience in terms of accessibility to all the basic residential requirements. Such project is also seen as the city within a city.
Because of such increasing demand of residential projects in Mumbai, stand alone apartments are not giving much profit to the real estate developers. Earlier, living in such residential complexes meant to live in suburbs or peripheral location. However in recent times, builders have locked their space within a city limit, in turn offering the residential complexes. Now the home buyers have the option of living in such residential projects complexes within Mumbai’s city limits.
The trend of high net worth individuals (HNIs) shifting from independent houses to apartments is also increasing the demand. India's growing affluent population increasingly wants residential apartments that offer superior amenities, round-the-clock security and a peace of mind. However, these kind of apartments are quite expensive than the stand alone apartments. The present rate of residential complexes per square feet falls between Rs 10,000/- to 30,000/- depending upon the locality.
As in Mumbai, these residential complexes are quite in demand in Bangalore too. Over the last few years, a number of projects falling in such residential segment along with all the modern amenities have been successfully marketed. So, developers are now promoting modern living spaces exclusively designed with a mix of technology and uniqueness. Today, as people prefer convenient living area along with all the modern services, the residential property market has become the fastest-growing in real estate globally. It is attracting not only domestic developers but also foreign investors.
Understanding the living point of the buyers, besides Pune, Kumar Properties, one of the well known construction company of Pune, offers such high quality projects in Mumbai and Bangalore too. Those are one of the most popular and adored real estate developers in Mumbai and Pune providing a state-of-art construction.
