A person living in city is like he is living in an concrete jungle and super fast life is very exciting and overwhelming. It is like learning to appreciate the daily hectic, crowded life in Mumbai, India’s largest city and adjusting in the polluted, traffic chaos in the most cosmopolitan city on the subcontinent.
The skyscrappers and new middle class try to co-exist with poverty and to the luxiourious life-style of Mumbai where things seem to be an illusion and person struggles hard to be rich. The city comprises people from all over India and the nations around the world and tall structures and fast pace is an indication to its global ambitions.
Mumbai city besides its highly decorated appearance, the city is renowned for its most expensive realty markets in India. So, the questions that arises here is would you like to own a home of your own in Mumbai city ? It is though over awed thought, the answer would most likely to be in affirmative.
What makes it so interesting to invest in Mumbai real estate ? Why should strongly consider it.
Great Growth Potential
Due to a slew of proposed infrastructures such as Coastal Roads (a road connecting Malad to Nariman Point), Metro Expansion and Navi Mumbai International Airport, property pundits and builders are expecting localities nearby to such dvelopments to be highly impacted. The classic example of such impact is Ghatkopar West, where property prices doubled as metro construction work gained momentum.
The Mumbai market offers high investment returns on all types of real -estate. There is sufficient proof that Mumbai is like a city magnet that attracts investors from all over India and world equally. Currently, it is most populated city of India and Mumbai and it’s suburbs encompass the second biggest urban mass in the world after Tokyo.
The increasing population shows the increase in the demand for both commercial and residential properties in Mumbai.
Redevelopment Schemes for Affordable Housing
Though increase in demand in residential property, the land supply is scarce, developers are undertaking a number of redevelopment projects. This is evident in suburbs like Bandra and Jogeshwari. The property in Bandra West has always been in great demand because of the elite lifestyle, great connectivity and social infrastructure it offers, it now suffers from traffic congestion, and low supply of land. In Jogeshwari, there is great demand for one BHK units. Now the poor people are occupying space, habitants are desperately looking for one-BHK homes.
Infrastructural development is happening rapidly and to deal with constantly growing housing demand, city’s edges are turning to be the next ideal locations. The highly popular builders in Mumbai are offering world class residential and commercial projects. Real estate investment offers a great opportunity to earn rental income, creating a smooth cash flow. Talk about Mumbai’s eastern freeway, the most ambitious and a much awaited project in terms of traffic decongestion.
As the employment opportunities, all over the city develops, so does the demand for real estate nearby. Employment is a big driver of the residential real estate, and other than areas in and around BKC, Kanjurmarg on the Central line has seen a significant increase in demand. Considering Andheri, in future, the Mumbai Metro network will cover the area including Jogeshwari west and east, Goregaon, Malad Creek, BMC Road, etc.
Does this want you to make Mumbai your home? Or encourage you to invest ?