Mumbai boasts a hot real estate market manifested in its soaring property prices, high rent and unlimited investment opportunities. This makes the city an attractive destination for investors. If you are looking to invest in a property, here’s why should consider Mumbai:
Mumbai is a Prime Real Estate Destination
The city of Mumbai is one of the most favorable investment destinations in India, offering a high return on investment (ROI) for investors. Areas such as Bandra, Vile Parle and Chembur East have seen about 20 percent ROI in the recent financial year. A lot of investors also consider Navi Mumbai to find affordable investment options that promise high yields.
There are Increasing Infrastructure Initiatives
Mumbai used to experience a lack of infrastructure and inability to maintain its existing infra. But, these days there is already an increasing focus on improving this aspect, particularly in less-populated portions of the city.For instance, the drainage systems have gone through a major change. Also, there are plans to set up a new sewage treatment plant, increase water supply and upgrade storm-water drain systems in these areas.
Residential Homes have Become Affordable
At a time when Mumbai real estate prices went beyond a common man’s purchasing power, Mumbai provides respite to many people who dream about buying a place they can call home in the city. Studies have shown that properties priced between Rs 40-50 lakhs are in higher availability, especially in Mira Road where property prices can hover around Rs 6,000 to 7,000 per sq ft.
There is Increasing Connectivity
Mumbai takes pride in its well-established connectivity to all areas within it. Because of this, its residential demands never took a plunge. Mumbai is easily accessible through the Western Express Highway, the western line of its suburban railway and Ghodbunder Road.
Mumbai’s housing inventory is composed of multi-storeyed apartments that make up more than 90% of the supply. This gives home buyers and investors more options than they have expected. With the help of real estate agents, investors will be able to find the right property they want to get in this booming Indian city.