May 16, 2014

Influence of Mumbai Infrastructure Development on Real Estate Industry

As the Mumbai real estate gets its skyline urbanized with world class developers and their development, it has started swaying the real estate industry in its colors. Infrastructure enrichment like the impending World - Class Airport, Bandra - Worli Sea Link, Sky Touching 27 Storey House (Antilla), the proposed Mono Rail, etc are adding the glamour to the dream city of millions. Mega SEZs by Reliance, IT SEZ by Mahindra, Biotech SEZ, etc are not just uplifting the Mumbai properties but also inspiring the other metropolitans and the Real Estate Industry as a whole.

Development on Real Estate
 Mumbai, the most populated city of India is hub for not only world’s biggest film industry but also home for diverse MNCs. With a range of MNCs IT, ITES, KPO, BPO, Marketing firms, etc. setting up their base here, inviting more and more people to the city for work, hence comes the demand of infrastructure development. Mumbai real estate thus witnessed the need of state-of-art infrastructure for better work conditions and also flats, studio apartments and apartments in Mumbai for employees and employers to live in. This in turn led to two way real estate industry growth:

1      With more and more people coming to Mumbai, real estate requirement for residential or commercial purposes are of grave concern.  And with fixed land but ever growing population, developers and industrialists are searching for other options beyond Mumbai, developing other cities with world class infrastructure. Also, due to more demand of land over supply, this has lead to rocketing price of property in Mumbai.

   With companies opening offices at various locations arises the need to build at least similar or better infrastructure in other cities, to attract talent pool there. A resource staying in a luxurious flat in Mumbai, would not want to relocate to Delhi or Chennai  office of his organization if he doesn’t gets his desired luxuries met there. 
Development on Real Estate

Hence, with economies opening their gate and welcoming industries, talents, from across the globe. There is a dire need to match the infrastructure, the luxury and the necessities to make everyone comfortable for the growth and development. Mumbai being the city of dreams, city of leading infrastructure with world class developers like Mr. Donald Trump of trump Organization looking forward to work here, not just rules in India but commands the way to infrastructure and development of real estate industry across the country.