July 28th, 2023
A Gurugram-based developer is trying to re-enter the Mumbai market, while a Bengaluru-based developer is looking for bookings worth Rs 5,000 crore from Mumbai in the next three years - the interest in Mumbai's real estate market is currently as high as its skyscrapers.
Mumbai's real estate market has been buzzing over the last few months as multiple companies are making a beeline to grab a pie of an already intensely competitive market. Over the weekened, Gurugram-based DLF announced that it will be re-entering the market of India's financial capital through a Joint Venture with Trident Builders for a Slum Rehabilitation (SRA) project.
Not only DLF, but multiple non-Mumbai-based real estate developers are beginning to show interest in this market. Bengaluru-based Prestige Estates, which announced an entry into Mumbai in 2022, has an ambitious plan for the next three years. By financial year 2026, Prestige is aspiring for residential real estate bookings worth Rs 5,000 crore or 20 percent of the overall segment from Mumbai.
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