MUMBAI: According to details, Mumbai real estate market has seen a hike in prices as luxury highrise buildings continue to be sold.
As per details, prominent individuals are buying luxury properties in South Mumbai. Two such individuals are Creative Plastics Group and Indian Singer, Sonu Nigam.
Sonu Nigam purchased two apartments in Unicorn Building in Andheri West for a whooping INR 11.37 crores.
Similarly, Creatives Plastics Group purchased eight units for INR 154.6 crores.
According to the founder and MD of Liases Foras, “Luxury housing in Mumbai witnessed a spike in supply last year. In 2022, we saw a 76% increase in the new launches of units costing Rs 3 crore and above”.
Moreover, as per global property consultancy firm, Knight Frank India, only 1% of the apartments sold in 2023 in Mumbai were priced at INR 20 crore while 4% were priced between INR 5 crore and INR 10 crore.
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