Despite price rises of up to 166% in some Indian cities, NRI investment in real estate remains strong, driven by desire for a second home and favorable government policies.
JLLM report predicts rising residential property prices in Mumbai and growth in commercial real estate demand until the end of 2010, supported by infrastructure projects.
MMRDA offers two large plots in Wadala, Mumbai for 80-year lease. One plot is for a commercial complex and the other for a multiplex, aiming to attract major developers and financial institutions.