Real Estate Price Increase In Mumbai

MUMBAI: According to information, the price of luxury highrise buildings has increased in Mumbai due to continued sales.

According to information, famous individuals are purchasing expensive residences in South Mumbai. Sonu Nigam, an Indian singer, and Creative Plastics Group are two examples of such people.

Sonu Nigam paid a staggering INR 11.37 crores for two apartments in the Andheri West Unicorn Building.

The Creatives Plastics Group paid INR 154.6 crores for eight units in a similar manner.

The founder and MD of Liases Foras claim that "last year saw a jump in the availability of luxury apartments in Mumbai. The number of new launches of units costing Rs 3 crore and above increased by 76% in 2022.

Furthermore, only 1% of the flats sold in Mumbai in 2023 were priced above INR 20 crore, while 4% were priced between INR 5 crore and INR 10 crore, according to global real estate advisory firm Knight Frank India.