Divali brings stability in realty prices

At least 30 residential projects will be launched in Mumbai, Navi Mumbai and the metropolitan regions in November 2007 reports Hindustan Times.

The new projects are expected to come up in the eastern and western suburbs and in Navi Mumbai. The approaching festive season has ensured that property prices will remain stable as the builders are chasing clearances and approvals for the projects. This fresh spurt is expected to balance the demand supply equation.

Estimates of Mumbai branch of Indian Builders Association (IBA) say that around 50, 000 new houses are built in Navi Mumbai, Mumbai and metropolitan region annually.