Mumbai is experiencing a turbulent period in Real Estate market, many factors might be affecting this but the main reason is huge cost escalation up to 60% in some areas.

1. Luxury Residential Projects in Mumbai
Mumbai is experiencing a turbulent period in Real Estate market, many factors might
be affecting this but the main reason is huge cost escalation up to 60% in some
areas. But the demand for residential projects in Mumbai has not come down; in fact
the residential projects with modern amenities are in high demand. Builders in
Mumbai have understood this interest in residential complexes and are now
focusing more on building residential complexes to meet the demand. Residential
complexes can be defined as
residential projects with multiple
high rise buildings or towers, each
one consisting of around sixty
apartments of different sizes. These
residential projects are equipped
with all modern amenities like
gymnasium, spa, sports complex,
lush green open areas, ample
parking space along with safety and surveillance round the clock. The features,
convenience and accessibility in these projects are outstanding, some of these
projects also have Mall and super markets within them, and so these can be called as
a city within city.
Due to the raise in demand for these residential projects builders are not getting
profits in traditional standalone type of apartments. Previously these residential
projects used to be constructed in suburban or semi urban areas but now the trend
changed, builders are locating spaces within city limits to develop these projects.
Even buyers are also showing interest because they will get the opportunity to live in
Mumbai city limits only, which saves time in commuting to city offices. The demand

2. for these projects is also driven by one more factor that is increase in number of
affluent class and High Net worth Individuals, who used to prefer independent
houses are now eyeing on these residential projects which offer high security round
the clock, amenities and above all peace of mind. Many other people with moderate
income are also trying to buy these units. The present price of these residential units
per square feet starts from 10000/- and may go up to 30000/- which again depends
on locality.
Not only in Mumbai are these residential projects are also in high demand in cities
like Bangalore and Pune. From past few years such residential complexes along with
all modern facilities are marketed well and sold out successfully in a very reasonable
time. Developers are now increasingly designing these complexes and promoting
them well. Developers are also engaging
well known architects and designers to
blend the technology with living space to
create uniqueness in their projects.
People’s choices have also changed
accordingly; they are now increasingly
opting for gated communities and residential complexes for hassle free and quality
living spaces. Convenience and modern amenities are given at most importance
these days which come by default in these projects. The residential property market
is fastest growing industry not only in India but also globally, these days it is
attracting foreign investors as well.
Raheja properties which is based in Mumbai is well known construction company in
building high quality residential projects both in Mumbai as well as Pune and
Bangalore. The developers use start of the art technology in construction
understanding concerns of buyers.