Thursday, April 20, 2006

I cant help noticing this- Mumbai flat sold for Rs 21 crore Add to Clippings

Indiatimes Read the story

My What is going on there.A flat for 21 crore 60,000 rs / Sqft. This is utter craziness,Thats what people think. 3500 sqft for 21 Crore.

My analysis.
I heard that the central location in marine drive is worth 30,000 rs / sqft before 3 years ( Alas no one want to sell anything over there ). But this one some in willing to sell a floor on the NCPA building.A company office and its not a secret that the flat is not for residential purpose. If its an MNC what they spend is nearly 5 million dollar. This is a price might not be worth as an investment in short run (Probably couple of years). But is going to reap its benfit and will be getting better offers in sooner or later.

So before say its idiocracy think more Sir. There are more places in India they could have invested for huge returns and not Mumbai. If investment is not a motive what stops from them in buying this.

Look in to DLFs investment in cochin search for the recent IPO offer in this one MY passion

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