Mumbai stands out to be16th most expensive city worldwide

Image for property tax Haryana storyBy Accommodation Times News Service

According to the report of Knight Frank Mumbai is the 16th most expensive city globally in terms of owing a prime residential property. A prime international residential index, Mumbai is among those global cities that saw realty prices going up in 2012. The price increases of 0.5% in prime residential properties in Mumbai in 2012 at Rs 57,800 sq ft.

The consultancy expects 1-2% growth in prices in the luxury segment in the next two years. The city prime properties are like Colaba, Cuff Parade, Malabar hill and many more of the island city. The National Capital Region (NCR) may witness less than 5% rise in luxury home prices in 2013. On buying properties the report said there is several enquiries but actual transactions are slow as of now.

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