Mumbai flat sells for Rs 1.25 lakh per sq ft!

Magicbricks moderator says - Recently, BJP MP Vinod Khanna bought a residential apartment at Malabar Hill from Citibank for Rs 1.25 lakh per sq ft. Khanna has paid Rs 31.25 crore for the 2,500 sq ft flat. The sale price was four times higher than the reserve price of Rs 32,000 per sq ft.

In a similar transaction nearly six months back, a London-based NRI acquired a 3475 sq ft property in NCPA apartments at Nariman Point for Rs 97,842 per sq ft.

It seems only the rich can think of buying property in Mumbai.
- Is property becoming unaffordable in Mumbai?
- Are there any property options for the middle and lower income groups in Mumbai

Share your opinion with us. Please send you feedback in the ‘comments’ section.

Urgent: Looking for 3-bedroom house in Chandigarh

Magicbricks Moderator says- A surfer from Chandigarh is looking for 3-bedroom for rent in Chandigarh. This surfer is relocating to Chandigarh and needs an accommodation near Sector 17 (since his new office is in Sector 17).

- Do you know of any property broker/agent in Chandigarh?
- Do you know of a suitable 3-bedroom for rent there?
- What would be the present rental rates in Chandigarh?

Please send your inputs in the comments section. Else, mail them to editor@magicbricks.com

Property rates to go up in Bangalore. Will you still buy property there?

Magicbricks Moderator says – A recent news report says that property developers’ association in Bangalore has decided to increase the rates of all projects by Rs75-500 per sq ft. This decision was announced by Confederation of Real Estate Developers’ Associations of India (CREDAI-Karnataka chapter). Rising prices of steel and construction material has been cited as the main reason for this hike.

Will you still buy property there? Will this impact your property buying decision?

Send in your answers in the comments section. Else, send them to editor@magicbricks.com