Resale flats are being sold in Mumbai at a discount of 10-20%. Not just flats by developers but even resale properties in the city are being sold at a duscount.
By Varun Singh
Mumbai real estate is seeing a 360 degree change, while developers are already offering discount on their properties, even resale ones are now offering discounts up to 10-20%.
Even in South Mumbai the discounts being offered is that of 10-20%.
“In SoBo, sellers of resale flats are offering up to 10-20% discounts.”Rajiv Jain, Ruchika Shelters
Jain says, “People over period of time have suddenly found buyers as they have corrected their prices and due to low stamp duty and bank interest rates it’s an attractive proposition.”
The phenomenon of discounts is same across the city. Even in suburbs one can easily find non-developer properties that are being sold at discounts.
Siddhant Gupta of Birckhouse puts it this way, “While in non-developers property 10-20% discount is available there are other properties where further discounts are being offered too.”
Gupta says, “I feel but several bank acquired properties in the market as well are in existence, those are at 30-40% differences almost. Lot of choice for the end users indeed is available in market.”
Resale properties in areas like Bandra-Khar are also available for a discount.
Yashika Rohira, of Karma Realtors says, “A discount of 10-15% is available in this side of the city. The reason being, businesses have been affected, to restore cash flow, some of the owners are selling their properties at a discounted price.”
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