In South Mumbai, Prices of apartments rising by 10-15% in the last year (2010), even as demand for new apartments remains weak. Independent bungalows available for Rs 100-150 crore just a year ago can now fetch between Rs 300 crore and Rs 400 crore.
Mr. Vikas Oberoi, Chairman,Oberoi Realty, which completed a successful public offer last year. Oberoi has a bungalow in Juhu, but is on the lookout for a sea-facing penthouse in South Mumbai, as that will signal his arrival on the big stage. The search, so far, has been a frustrating one.
Mr. Vikas Oberoi said, "I am ready with a cheque of Rs 50 crore, but it is difficult to get a decent deal," .
In 2011, August, Mr. Ajay Mittal, Chairman, Supply chain and logistics management firm Arshiya International bought a one storey bungalow Morena House on Carmichael Road for Rs. 300 crore. Mr. Gautam Adani, Chairman of Adani Group, is also on the prowl for a South Mumbai address. Hei is looking for a sea-facing bungalow for his personal use.
Mr. Vikas Oberoi, Chairman,Oberoi Realty, which completed a successful public offer last year. Oberoi has a bungalow in Juhu, but is on the lookout for a sea-facing penthouse in South Mumbai, as that will signal his arrival on the big stage. The search, so far, has been a frustrating one.
Mr. Vikas Oberoi said, "I am ready with a cheque of Rs 50 crore, but it is difficult to get a decent deal," .
In 2011, August, Mr. Ajay Mittal, Chairman, Supply chain and logistics management firm Arshiya International bought a one storey bungalow Morena House on Carmichael Road for Rs. 300 crore. Mr. Gautam Adani, Chairman of Adani Group, is also on the prowl for a South Mumbai address. Hei is looking for a sea-facing bungalow for his personal use.
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