 "Home prices rise highest in Mumbai in June quarter")
Homes in Mumbai Metropolitan Region have seen highest price increase among all metros at 17% in June quarter compared to corresponding quarter last year, said a new study.
Bhayander (west) and Nallasopara saw highest appreciation with 164% and 79% in property prices in second quarter of 2013 calender year, said a report by 99acres.com.
On the other hand, there was also a price correction in few localities of Mumbai like Bandra (East), Parel and Mahalaxmi by 12%, 8% and 4% respectively.
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The last quarter saw prospective buyers preferring rental apartments than actually buying them out. Rentals have also moved up by 6% for a three BHK in Q2-13 over Q2-12.Navi Mumbai has seen the highest rise in rentals year on year as well as quarter on quarter.
While localities in Navi Mumbai like Nerul, Palm Beach and Sea Woods saw maximum appreciation in their rental values by over 20%; areas like Worli, Lower Parel & Santacruz (East) saw a decline by 17%, 12% and 4% respectively.
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