To own a flat in one of India’s most popular cities Mumbai is a dream for possibly every Mumbaikar now. Flats in Mumbai are being sold at an immensely fast rate and with more and more real estate developers buying property this trend shows no signing of stopping anytime soon.
Real Estate in Mumbaiowes its growing popularity largely to the city it’s in. Mumbai is the state capital of Maharashtra. It is fourth most populous city in the world. Mumbai is the largest and the busiest city in India. It is also the commercial and entertainment centre of India. Real estate in Mumbai is also enjoying popularity also because of the way the city is built. If you invest in residential property in Mumbai you get highest return like Residential – 5% to 7%, Commercial – 8% to 12%, Retail8% to 14%etc. The real estate boom in Mumbai is linked directly with the industrial and economic growth with stability and strong presences of multinational companies throughout India have made the preferred destination for investment in real estate sector. Mumbai is a best location for investment because Mumbai is an upcoming satellite town catering to the requirement of all sorts of properties i.e. residential, commercial and industrial. The city has planned very suitable manner with wide roads providing all sorts of facilities to the public. As a result more and more people like to make real estate investment in Mumbai.
There are certain tips you should keep in mind when looking to invest in Mumbai. One of the most important things you should do is keep your budget and limitations in mind and come up with an amount you can afford to pay. You would be well adviced to hire a real estate agent if you’re buying your first home in Mumbai, professional help while investing in real estate in Mumbai will ensure that you steer clear of fraudulent deals and make an informed choice. You should also see at least 5-10 properties before you decide on a home that suits your needs the best. Imagine how the home would look when it’s furnished. Research the “asking price” by finding out from the recent property sales in the area you’re interested in. Sometimes you must be ready to compromise while investing in property in Mumbai.
Today, it’s easier than ever for foreign or domestic investor to find residential or commercial property investment options in Mumbai. While it’s true that prices of Mumbai are high there has been a slight drop in prices, about 15 % to be exact. So if you were in the market to buy property this time period would be your best bet. Prices are down albeit slightly and bank loans on housing are easily available with very low interest rates. All in all flats in Mumbai have proven to be a worthy buy and there’s no better time than the present to own one.
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