Published on January 2nd, 2020 | by Ali Dino0
Why You Should Buy Property in Mumbai, India
Why Consider Buying a Flat in Mumbai?
Mumbai is the kind of city, where once you start living in, no city will be able to match up to it. Basically, it is infectious. People often say that there is something magical in the very air of this city, and all the Mumbaikars will vouch for this. Mumbai as a city is quite adventurous, with people from all over the country living here. It is metropolitan in its true sense.
When it comes to real estate, Mumbai is one of the best cities to invest your money in. Why do you ask? It is because of multiple reasons. Mumbai is considered to be a good investment for both commercial and residential properties.
The city is constantly developing and expanding, one can get good new projects in Mumbai, India at one’s preferred locality. Mumbai experiences a constant incursion of people throughout the year.
This results in the hike of the real estate prices constantly. So, while other cities might have experienced a dip in real estate prices, this city was not affected in a similar way. So, if you buy a property in Mumbai, you can expect to get good profits on your property in a couple of years.
Another great advantage of buying a property in Mumbai, India is that you can charge hefty rent from your tenants. This is a very common trend since the rent rates are high across the city, be it in the suburbs or in the town areas. Finding tenants who are willing to pay these high rates of rent isn’t difficult in a city like Mumbai, where the supply over demand for renting places is less.
Mumbai has the best of facilities to offer, from medical to educational to entertainment. It is a hub for some of the country’s biggest and most known hospitals. The same goes for educational institutions, with some of the best colleges and universities across all the fields are based in this city.
Buying your own house in Mumbai, the beautiful financial capital of the country, is a dream of every man in India, be it a film star or a politician or a common man for that matter. Due to this, there will always be a demand for real estate in this city. And, this will result in new projects in Mumbai.
Mumbai is considered to be a safe city to live in, thanks to the good police work over here. Yes, the city that never sleeps is quite popular amongst all kinds of people, from bachelors to families to single ladies.
Why is Mumbai a Good Option for NRIs to Invest Their Money in?
If you are an NRI, earning a lump sum of money in another country whose currency is superior to the value of the Indian Rupee, real estate investment is a great option for you. And, one of the best cities you can consider is, of course, Mumbai.
This is because of many reasons. First, while there might have been a price fall in the real estate rates in other countries due to market fluctuations, Mumbai has never been a victim of such instances. This can be attributed to the fact that every year lakhs and lakhs of people are coming to the city with a wish to fulfill their dreams.
Being an NRI you can invest in either a residential property or commercial property and put the property on lease. This becomes a source of steady income, and it is pretty hassle-free once you have settled the property.
NRIs can also consider buying real estate with the sole aim of gaining profits by selling the property after a few years. This results in the NRIs getting a good profit without having to go through a lot of trouble, since the real estate rates have always been observed to increase in Mumbai, India.
Navi Mumbai: The Future of Real Estate Investment
Navi Mumbai is one of the most developed cities in the country. This is the reason it becomes one of the most popular cities to invest in when it comes to real estate. The development in Navi Mumbai is going at a remarkable rate and is attracting real estate investors in flocks. So, getting a good property in Navi Mumbai, India is not a very difficult task.
Some of the Emerging Areas in Navi Mumbai, India are:
- Panvel: This is one of the most favorable areas of Navi Mumbai, mainly due to the fact that it is well connected with both Mumbai and Pune by the Mumbai-Pune expressway that runs through it. The real estate prices have seen a good hike in this area, and the market has had a good run so far.
- Kharghar: This is most popular for its greenery and open spaces. This is a good option for the people who want to live in a big city while enjoying the nature. It has got a good number of markets, schools and colleges, and hospitals.
- Airoli: This is yet another developing area, and you will get a lot of good properties, both residential and commercial.
- Ulwe: This is an upcoming developing extension in Navi Mumbai, with a lot of promising real estate projects one can think about investing in.
- Ghansoli: This area tends more towards commercial and industrial projects and has been a center of attraction for big corporations. This will slowly result in the demand for residential areas in and around to house the employees. So, it will be a good option to invest in residential real estate and then put the property for rent.
Buy any property in Navi Mumbai, in a good location, and you are bound to earn profits from it.
But no matter where you buy property, there are certain factors you need to keep in mind. First, you need to be very careful and thorough with the entire process. This is to ensure that your hard-earned money is being invested safely and securely.