Another boom

摘要

This year's monsoon may have brought terrible suffering to Mumbai, but nothing seems to dampen the property market in India's commercial capital. At a recent government auction, the prime eight-acre (3.2-hectare) site of the former Elphinstone textile mill was bought for 4.4 billion rupees ($101m) by Indiabulls Real Estate, a subsidiary of Indiabulls, a local securities broker firm. In recent months Mumbai has seen the pricey sales of five large pieces of land on which its now defunct textile mills once stood; Indiabulls Property, a related company, snapped up another of these, Jupiter Mills, in May.