Mumbai real estate bosses were forced to take some drastic measures to keep up the interest in real estate in the city, after there was a slump in the beginning of July. The total real estate intake of the city was been left at just thirty percent of what it was. Of course prices have been affected by this slump with them going done anywhere between 10 to 15 per cent in most places. Industry insiders say that this is also the case in Delhi.
Mumbai, the financial capital of India, is also the most desirable destination for the real estate investors. With a population close to 19 million people, Mumbai forms one of the biggest urban clusters in the world, second only to Tokyo. The past few years have seen a continued increase in the property values and a drastic increase in the number of commercial properties. Some residential properties in Mumbai fetch the highest rates and two of its commercial properties, namely Nariman Point and Worli were among the top 10 most expensive locations in the world as per a survey conducted in 2007.
