Costly Mumbai Still a Coveted Location for Residential Investment

Unarguably one of the top residential cities in India and a desired investment destination in the world is Mumbai and till today it is regarded as one of the best places to reside in. Though the dynamics in the country alter every year, this metropolitan city has been able to maintain steady momentum in the realty market due to consumer attraction towards this developed, lively and aspiring region. Mumbai realty market is such that buyers are either looking to invest in fast-developing localities of the city at the available price or biding their time to invest in one when the property price would fall a bit. In either case, there is a good demand and supply of flats for sale in Mumbai that makes it one of the sought-after locations of India.

Courtesy: Net

A city of opportunities, Mumbai enjoys strategic location and excellent connectivity with nearly all important cities of the country and world. Over the years, Mumbai has grown tremendously with people flocking to the city in search of better growth opportunities and an appreciating place to reside in. However, with the city witnessing rapid residential and commercial development, it also offers the best physical and social infrastructural facilities and variety of work opportunities to its residents. Today, the prime locations in Western Suburbs of Mumbai, South Mumbai and even prominent localities in Central suburbs have become too expensive for salaried income group. With shortage of large land parcels and high property costs, areas showing fast-development and infrastructural initiatives are witnessing high demand for flats for sale in Mumbai. Falling in this category are regions like Wadala, Chembur, Kalyan, Kanjurmarg, Ghodbunder Road in Thane, Mulund and Kopar Khairane, Ulwe, Panvel and Kharghar in Navi Mumbai that are considered hot realty investment destinations in Mumbai.

In addition to the above mentioned change in Mumbai’s realty scenario, changing lifestyle, increasing number of double income families, rapid urbanization and aspirations among people have steadily raised the demand for luxury flats in the city. Shelling a crore or two is not a problem for some well-paid professionals, businessmen, actors, high-net worth individuals and even NRIs who are increasingly looking for luxury flats for sale in Mumbai. These luxurious apartment flats are packed with stylish and innovative amenities, are uniquely designed and offer opulence, space and security to its dwellers. With nearly 5,000 upmarket flats already waiting buyer attention, real estate watchers feel that there is sufficient inventory available for interested buyers. For home seekers who are looking for mid-segment housing or wanting to reside in the lap of opulence, a bit of research on their part is necessary to get their desired home from the number of 1, 2,3, 4 and 5 BHK flats Mumbai.

Mumbai City Offers Real Estate Investment as an Opportunity that Promises Growth

Mumbai is one of the most vibrant Indian cities that reflect glamour, opportunities, and business. It is a city where people come with big dreams. As a result, there is a steady demand for property in this city, both for residential as well as commercial purposes. Real estate in Mumbai has been the most flourishing business with rate of property being very high compared to other metros in the country. As such, residential apartments in Mumbai are also expensive.

Positive Growth and Lifestyle – Factors that contribute to rising price

Economic growth of India has been stable for a year now, which has a positive effect on people. Purchasing power has increased and so has the lifestyle. Luxury properties in Mumbai are considered the first choice for high-class society.

Of late, the value of Mumbai, as a city, has increased due to various factors, which has increased purchasing power. This is the city that provides scope and opportunities to people and helps them realize their dreams. People of different cultures come and settle down in Mumbai, which also contributes to rise in property price.

The most common reason for rising demand of residential market in Mumbai is the Stock exchange market, employment opportunities, bollywood, foreign attraction and proximity to Pune – the IT hub.

Courtesy: Net

Why to Invest in Mumbai?

Buying residential apartments for sale in Mumbai has various reasons attached to it. Firstly, the city has a global touch. There are different industries, all well-established and proliferating. People from various corners of the world accumulate here in the city for jobs, dreams and a better lifestyle.

Today, the suburbs of Mumbai are also in demand due to its development. Suburbs of Mumbai also provide ample scope of real estate investment at a much affordable price. So, people looking for a residential property close to Mumbai at a lower price can consider this proposition.

Mumbai, as a metropolitan city, is developed in every sector. Roads are good and communication is not a problem at all. It is a posh city and the city of glamour and glitz that draws people. Also, there are excellent schools and colleges, job opportunities, healthcare facilities and other opportunities.

Serviced Apartments in Mumbai Ideal for Short Term Stay

Serviced apartments in Mumbai can certainly be a good choice of housing, if you are being in the city for either studies or work for a few weeks or more. Most often, many people take up to 6 to 10 months of job training, educational or professional tours, or freelance consulting projects. Well, in these cases, staying in service apartments in Mumbai make student life or work life much more comfortable. These apartments offer just the right accommodation solution for short term stays. They are less expensive compared to a hotels and are more hassle-free than rental houses. It is ideal to find the right service apartment when leading a fast life. Mumbai houses several such establishments favoring the travelers and those staying in the city for a short term.

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Serviced apartments in this city come in a broad range of specifications and budget. Alright, this depends on what work you do or what your budget is; mostly companies and students have communal accommodations. It is the senior delegates, corporate executives and entrepreneurs that choose to enjoy the hospitality of the serviced hotels in Mumbai. Expatriates, celebrities and foreigners often seek more luxurious and exclusive service apartments in this city.

If you wish to seek the most established and specialized serviced apartments in Mumbai, that are available with a range of accommodations and tariffs, look for the top hits on popular search engines. Read the service packages and testimonials of the establishment. Most of the proper serviced apartments will offer a complete package. Needless to say, Mumbai has a huge migrant population that continually moves in and out of the city; besides, this is the major business market for such serviced apartments.

On the other hand, you can also find the most affordable residential properties that provide a hassle-free stay. What you need to look for are the serviced flats that make commuting easy for you as and when required.

In general, serviced flats in Mumbai are a comfortable and reliable way to arrange for a temporary stay in this big city with all the comforts of an apartment. Moreover, there are amenities, room service and arrangements for corporate requirements and conferences as needed.

Buying Houses in Mumbai – What to Consider?

Quality construction, facilities and amenities, and price are the major aspects one would like to know when hunting for a dream home. Buying house in Mumbai is a challenging task. Each consumer would possess a varied perspective and would require something totally different to be content and happy with his or her selected home. Some would prefer high-end amenities, while some might opt for basic amenities, whatever it is, getting houses in Mumbai with your specification will be a tedious task, but not impossible.

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Before investing in a house, make a list of the kind of house you would like:

• Decide on the facilities you would want, there are so many projects that offer basic amenities, like 24 hrs water and electricity, security and ample parking space, these generally are offered by small time builders. If you are looking for good set of amenities, then you could opt for gated communities or large housing complexes
• Check the per square feet price in the neighbourhood, where you have decided to buy the house and then compare it with your chosen one.
• Do you want the house to be vastu compliant? Where would you wish the entrance to be? Do you want a north direction entrance specifically?
• Verify to ensure that you have the reviews and feedback of the prospective developers from whom you have decided to purchase the property.
• Does the house or property fit well within your budget? Would you get any sort of facility in terms of payment or loan facilities from the banks, suggested by the developer?
• Take into account the time frame of complete construction and the exact time you will be obtaining the possession of the house or flat.
• Will the developer offer you with an OC (occupation certificate) while giving the possession of the house?
• Ensure that you are well aware of all the charges such as property tax, registration, and maintenance rates that are over and above the project price.

Well, if you obtain positive answers to all the above mentioned questions, you may surely consider the property for buying.

Benefits of Buying a Villa in Mumbai

The debate on whether to purchase a flat or a villa is a perennial. When one grows up in a town or a tier 2 city, apartment living can certainly not match the lure of a villa that comes with a garden and a compound. Nevertheless, people that have grown up in a metro like Mumbai just cannot imagine owning or living in a house located on the main street. However, there are merits and demerits that need to be considered so as to purchase a right abode.

Courtesy: Net

Well, having said that, villas for sale in Mumbai are being highly sought out for by the affluent in the city. There are many benefits of buying a villa over an apartment. Villas have their own charm wherein you can build a house as per your budget and taste. You can choose to leave sufficient space around the house for a garden so that children can play and parents and grandparents can relax. You will get happiness in many small things like getting a sense of ownership by embedding your name in the compound wall. Generally, villas provide you with a calm and peaceful atmosphere and you can develop a great relationship with the neighbours which can last for generations. Though the house value may decrease, the plot value will keep on increasing, eventually proving to be a good investment in the long run.

A villa gives you a lot of privacy which you cannot expect in a flat. If you have guests at home, they can spend time judiciously in the outer space, in the garden, backyard or verandah. There will be a lot of space for children to play around. You will not have parking problem like that in the flats. If you want extra income, you always have the option of expanding the house and leaving one part for rent. This will give you a regular extra income. Also, you will have someone to take care of your property when you are away. Buying a villa also helps you host parties and other family functions in a better way. The outer space will offer you enough place to seat your guests and invitees.

To buy a property for sale in Mumbai, resort to the most reputed realtors and strike the best deal.

Villa Projects in Mumbai Synonymous with Luxurious Lifestyle

There is a great demand for real estate in the city of Mumbai as this city has a lot of activity in terms of entertainment, business and other commercial quotient. Besides, the climate is quite enjoyable as well. All this makes Mumbai an ideal place for the construction of a range of villa projects. In fact, there are a lot of developers in Mumbai specializing in this niche.

An exciting fact about properties in Mumbai is that most of them are situated at strategic locations, near the city center or near the International Airport. The city has wide array of choice, that include, plots, villas and flats, but at a reasonable price bracket. A good number of villas are under construction in the outer areas of Mumbai. Some people prefer to buy land and like to construct farm house or individual house of their choice so that they could enjoy nature at one’s doorstep.

Courtesy: Net

The best part of living in a villa is that you can have a lovely residence plus enjoy a good amount of privacy. Mostly these villas come under the gated community and offer many shared amenities like sports facilities, swimming pools with decks, indoor games, outdoor games, recreational activities and much more. These residential projects provide a high level of security that is normally not available in a standalone property.

Most of the luxury villas in Mumbai are landscaped beautifully; good news is that a few projects include organic farms within the premises as well. The range of villa projects in Mumbai is quite large. It is up to the buyers to choose a simple villa or a luxurious one depending on his or her need and budget. But, it is essential to verify the antecedents of the builder prior to investing your money. Well, you must always deal with a company that has a wholesome experience in the business along with a great track record. After all, buying a villa is a onetime investment and the last thing you would want is make a mistake in this.

Affordable and Comfortable Residential Flats in Mumbai

For many people, owning a house in Mumbai is similar to a dream coming true. Well, if you too are among those who want to make this city their home, there is some good news for you. The current year is all set to be a great year for purchasing a residential property in the most liked metro.

The financial capital of India has always remained untouched in terms of real estate rate correction. In spite of the inventory increasing continuously, and the demand decreasing, the rates of the flats in Mumbai have not seen a downside. However, experts are of the opinion that prices will decrease eventually and so if you are looking to make a saving, then it is time for you to take the initiative and purchase residential flats right now.

Right areas to buy residential property in Mumbai

In several high profile areas in Mumbai, the rates are too high and it is not possible for many to buy a property. However, buyers can find a number of property options in various other areas of the city such as South Mumbai and Navi Mumbai.

For those looking for stylish yet affordable residential flats for sale in Mumbai, Navi Mumbai offers the best options. Chembur and Wadala are also great places to buy property as it is predicted that property rates in these areas are probably to double in the forthcoming years.

It is being said that the cost of flats in the northern suburbs of the city may reduce gradually. The proximity of your apartments in Mumbai to Mumbai transport centres such as highways, railway stations, airports, etc. is a major reason for the price hike. Hence, the lesser the distance, the higher will be the rates. A few areas such as Bandra, Juhu, Powai, Andheri, Worli, Haji Ali and the like are considered posh residential areas. Prices in these areas may definitely break your bank. So, it is better to buy a residential flat in the outskirts and developing areas of the city rather than using all your hard earned money to buy a property in a posh area. In fact, you can buy bigger and more comfy apartments in the suburbs than in the posh areas.

Points to Ponder Before Buying a Flat in Mumbai

Mumbai ranks on the topmost position when it comes to all sorts of residential properties, be it extravagant bungalows or affordably priced flats. A lot of people from small villages and townships migrate to this glamour city for different reasons. All these people look for one thing in common – a comfortable yet affordable residential property.

Four concrete walls, a ceiling and sufficient space to house the important stuff – this is what was needed for a house those days. But things have changed drastically now. Today, people are looking for luxury accommodations.

Popular areas to buy residential flats in Mumbai

To buy Mumbai flats, some of the major localities are Versova, Andheri, Marine Drive, Lokhandwala, Borivali and the like. The demand for residential space has surged real estate in Mumbai metropolitan region similar to other metropolitan cities. In such a scenario, New Bombay or Navi Mumbai is undoubtedly the best area that offers affordable residential choices.

In India, Mumbai has recorded the maximum prices in the real estate sector for regions such as Santacruz, Nariman Point, and Juhu. Reasonably priced options in Mumbai include Panvel, Mahim, Vasai, Virar, and Vashi. Well, areas like Bandra and Juhu and really expensive for the middle income group. However, Navi Mumbai provides some faith in this challenging situation witnessing a myriad of housing projects. These projects are rated economically to obtain affordable residential Mumbai flats. Well, needless to mention, finding Mumbai flats for sale that fulfill the choice and rate of the buyer is undeniably not a piece of cake. A prospective buyer must conduct a good market investigation prior to deciding on buying a property in Mumbai.

Investing in flats in Mumbai – A prudent decision

While making a buying decision, it is important to make a sensible one. As a buyer, it is crucial to ascertain that you pick a project that is built by an experienced and reputable developer. This ensures that the prospective project has all the necessary municipal and government clearances as well as it offers access to a variety of modern amenities. You may also have to verify whether the builder sticks to well established benchmarks like the ISO.