Mumbai real estate turns attractive for NRI investors
Mumbai, the financial capital of India and a dream city for millions of Indians, continues to see remarkable growth in its real estate sector.
Over the years, the urge of settling back to their countries as well as their hometowns and making a better standard of living for their families has led many Indians to shift to other countries for better work-pay equations. Better job opportunities and much better pay gives them an opportunity to settle back in the country in later years when they are reaching retirement. Mumbai is one such city where the return on investments, especially property has been appreciative. This has led many NRIs to invest in the city’s real estate market.
The Indian realty sector is expected to grow across residential, retail, commercial and hospitality verticals over the next decade. With property prices being n freeze and many affordable housing projects coming up, it is the best time for NRIs to invest in real estate property in Mumbai. The overall dynamism of this industry has vouched for its long-term investment capacity and resulted in sound investment decisions. NRIs rekindled interest in Indian real estate scene, especially financial capital Mumbai has led many builders to come up with luxurious as well as affordable second home apartment choices. The NRIs find good bargain on property in Mumbai as well as the advantageous difference between currency valuations of the two countries.
Real estate developers are becoming aware and serious about the right sizing and right pricing factor of their products to make them more attractive to a larger audience. Property for sale in Mumbai are more better designed, compact and more efficient than ever before. This has also led to many housing project launches in the year 2015 and even this year. Builders are doing selective corrections inn some of the over-priced pockets to generate momentum in the real estate property in Mumbai. This will bring in faster sales in the stagnated larger configurations supply. Many NRIs are opting for townships that offer residential, commercial as well as hospitality amenities to the residents. These townships offer better lifestyle to the families and individuals alike and become a status quo factor for many.
For NRIs who are nearing retirement and would like to settle back in the country, this is the right time to invest in property in Mumbai. Social and civic infrastructure has revamped in most of the metropolitan cities of the country, especially Mumbai. The city offers more hospitals, colleges and schools, shopping malls and entertainment zones than ever before. The whole city is well connected with railroad system, which makes investing in property in Mumbai for sale in suburbs a good option too. The availability of utilities eases living, thereby providing for a high quality retired life.
NRIs are mostly interest in primary residence. Once that is secured, they usually turn to invest in rental income-generating property for sale in Mumbai with their surplus funds. Since rental income is taxable in India, the NRIs however have to be aware of all the regulations and bylaws that apply on NRI investors. Therefore, it is always advisable to seek help of experienced and reliable real estate agents before starting to look for property in Mumbai for sale.
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