The real estate price graph has moved upward once again with developers in Mumbai having started to jack up their rates, capitalising on the recent stock market recovery.
Amid the economic downturn in the last ten months, investors had exited the market while buyers could not afford the prevailing rates. This had forced developers to reduce prices month after month, sending rates 30 per cent below peak levels.
The revival comes amid the stock market rally and the return of some investors in the sector. Cashing in on the speculation, many developers have increased their rates by Rs 100 to Rs 1,000 per square foot (psf) over the last one month.
More : indianexpress.com
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