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Mumbai: First Price cuts are rolled out

Mumbai real estate industry announced first price cut after holding on to high prices for four years. Some of the top builders have cut prices by around Rs, 2,250 to Rs. 5,000 while some have introduced flexible pricing policy for single project. Though, all the builders have not bring down their prices, they are now ready to at least negotiate with buyers.
For instance, Lodha Group is offering discounts of up to Rs. 5,000 per square feet on its high-end residential project Blue Moon. Lodha group is offering 2 to 4 BHK apartments at Rs. 23,991 per square feet when the properties in Worli are priced at Rs. 29,000 per sq. ft. Shree Naman Group and RNA Corp have also cut down prices of projects in Goregaon and Elphinstone respectively.

Apart from lower rates as compare to the prices offered a month ago, buyers can now get bigger bargains on different floors. The liquidity crunch and high inventory up to 80,000 unsold units compelled the builders to cut the prices.

About Sanjit Sharma

Sr. Online Marketing Executive with Favista Real Estate Pvt. Ltd.
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