Property prices dip by 15-20 per cent

The realty prices in the Western and central suburbs of Mumbai seem to have declined by about 15-20 per cent, and the trend is expected to continue in the coming months.

According to media reports, land prices have shot down by 15-20 per cent in areas from Lower Parel to Santacruz. In western suburbs, the decline of the prices is at around 20 per cent for areas such as Jogeshwari, Kandivli and Borivli. In areas beyond Borivali, the decrease in land prices is as much as 30 per cent.

According to real estate brokers of Andheri and Goregaon, realty prices of Oberoi properties and Nitesh Estates have decreased and Oberoi has lowered its price by Rs. 750 Sq. Ft. to Rs. 8,200 while Nitesh Estates has slashed rates by Rs1,500 Sq. Ft.  in Andheri where prices are going at Rs. 8,500-9,500 Sq. Ft.  Know more about home loans on www.apnapaisa.com/loan