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Mumbai property rates soar 66pct in 4 years

Posted on 14 May 2013

The Mumbai residential property rates, touted as the most costliest in India, appreciated by a whopping 66% during the last four years, quashing reports of an ‘imminent correction’, according to a report. Other satellite areas such as Thane and Navi Mumbai saw an even steeper rise in property prices compared to Mumbai’s average increase, growing by 70% and 74%, respectively.
“Residential property prices in Mumbai have increased steadily after the correction seen post the Lehman debacle. In the period from the second quarter of 2009 to the same quarter in 2013, residential real estate prices in Mumbai have increased by 66%”, said a report prepared by Jones Lang LaSalle India (JLLM)………………………………………..Full Article: Source


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