Factors to consider while Investing in Mumbai
Mumbai, a financial hub of our Country and number of businessmen and big corporate opening their offices in the city. It results in an increase in population and the rise in demand of residential and commercial project. The Huge rise in the demand of the residential projects led to rise in the prices of the property in mumbai. Developers are offering huge discounts and attractive packages at the time of booking for the buyers. The Expected return from a real estate investment from the Mumbai city is very high providing an opportunity to grow investor money in short span of time.
Government and financial institution are also supporting an investor to invest in the real estate market by providing various advantages and tax benefits. Affordable housing with lower interest rates with monthly installment depending on the buyer references.
Developers are coming up with various residential projects in the outskirts of the Mumbai city. Suburbs like Panvel and Raigad are favorite locations of the buyers in Mumbai city. Mumbai is now developing as a hyper metro city with a lot of restaurants, hotels, parks, skywalks coming up regularly to modernize the city. The Government is also helping the developers by converting waste land or dump yards into multiplexes or residential projects.
Earlier homes available in Mumbai were simple with minimum facilities, but now due to higher salaries and paying capacity developers are coming up with projects which are loaded with various facilities providing a higher lifestyle of the property owner. Those who are not able to buy own houses are looking for rented homes, which are also equipped with latest facilities.
People are inclined to invest in the suburbs of the city due to affordability and calmness from the hustle of the city. These residential projects are situated in the lap of nature, providing a peaceful environment for the entire family to stay comfortably. You can enjoy and relax in the natural environment after a stressful day at the workplace. The suburbs area is well connected with transportation facilities to provide an easy connect with other main areas of Mumbai.
Investors are expecting good returns from the real estate investment done on the outskirts upcoming projects. The City is providing opportunities for every type of investor, ranging from small to large ticket investors. Even the developers are coming up projects ranging from 1BHK flat to luxurious villas, so depending on your affordability you can choose easily from the various options available in the market.
Factors to be considered while investing in real estate Mumbai:
Location of the Property: Always check the market price of the property in which you are planning to invest. Check past growth records and return from the property before investing.
Connectivity: The property should be connected to the main areas of the city. Check transportation facility available in the locality to avoid any future problems.
Amenities: The residential property you are planning to buy should be equipped with all modern facilities and amenities to match your urban lifestyle standard. Sufficient space should be available for kids to play, Elder people walk with pollution free environment.
Daily necessities availability: Basic necessities like School, Bus stand, Hospital and Shopping market are the points which should not be ignored while buying a particular type of property. It should be available within 5-10 Km area of the project.
Legal Prospect: You need to check whether the property and the developers are genuine or not with clear past records. The property should be loan able from a government bank and financial institutions.
So research well about the property in which you are investing your hard earned money in expectation of high returns in the future.
