Property in India’s financial capital Mumbai is among the most expensive in the world.

But the high demand for housing and homes in India is coming at a cost to the poor according to Prerna Suri. She reports Families of Dharavi slum are being evicted to make way for billion-dollar apartment and real estate developments in Mumbai.

High Mumbai real estate prices, can’t be sustained for long and already sales are beginning to slow. Is the Mumbai real estate bubble about to burst or is there more growth?

To give you a more informed view here are the views from Navyroof.com and some leading property consultants in India.

View from Navyroof.com
Overall we feel Mumbai real estate needs to slow as prices are unsustainable in the medium term. If some heat is not taken out of the Mumbai market soon with “a soft landing”, we could see a large Mumbai real estate correction. With a large amount of speculation and high cost of land, prices up over 50% since January. Anyone who has made these quick gains would be well advised to bank them now as this rally cannot continue for much longer at this rate without those investors last to the party getting burnt first. (more…)

The Mumbai Metro line got a boost with the railway authorities clearing two concept plans for a rail bridge over the suburban railway lines near Andheri station, a project which had been stuck for over nine months. (more…)

Mumbai real estate developers, who witnessed a revival of sales at hefty prices in the past six months, are now up against buyer resistance. With demand dropping like a stone, the sale of Mumbai residential flats across segments has nosedived, property experts said. (more…)

Residential housing prices in Mumbai are expected to move further upside as sales increase and investor sentiments strengthen, a recent real estate report by Jones Lang LaSalle Meghraj (JLLM) said. (more…)

Mumbai real estate prices have jumped about 30 percent over the past six months, leading to a drop in home sales in India’s financial capital as higher prices deter buyers, Knight Frank LLP said. (more…)

Mumbai Real estate prices in the city have risen between 5 to 20 per cent since January. A surge in demand and buyers willing to pay more has helped this rise. (more…)

UK-based serviced office provider Avanta, which blocked properties at the peak of the realty boom in India and started offering office space to clients during the downturn, is in the process of shutting down its Mumbai operations after incurring significant losses. (more…)

Excess supply has made office rentals in key commercial centres in Mumbai and Delhi come down by half over last year, and realty analysts fear that with business houses waiting for economic activity to pick up speed and a raft of new commercial facilities nearing completion, the rates could head further southwards. (more…)