Mumbai, the city of dreams, is not only India’s largest metropolitan but also a hub of the country’s financial and economic activities. As a result, people from all over the country dream of settling down here. Because of this reason, the property prices here are skyrocketing. Let it be flats for sale in Byculla Mumbai or 1RK flats in Virar, you can observe that the prices are on the higher side. here we provide Why Invest in Mumbai Real Estate.
Despite the rising prices, people belonging to different cities in India still look for investment opportunities in Mumbai. Let’s take a look at some of the main reasons why Mumbai’s real estate is a hotbed for investment.
Commercial Hub with Ample Opportunities’:
Being the commercial hub of the country, Mumbai is a land of opportunities that employs dozens of people. As countless people migrate to Mumbai, the demand for property also increases. Therefore, an upward trend in the real estate sector can be seen especially in newly developed areas. The areas near massive business hubs like Thane, Kanjurmarg, Powai, Vikhroli, Kharghar have a particularly high demand for properties. People prefer to reside in areas that are close to their workplaces.
Another major reason why people tend to invest in the city of seven islands is handsome returns. When you buy property in Mumbai, you can be sure to get good rates when you sell it. The real estate prices in Mumbai have increased 3-4 times to date. Therefore, if you want good returns, Why Invest in Mumbai Real Estate.
Has Property in Every Range:
As stated above, the property prices in Mumbai are soaring high, still you can find a property here that lies within your budget range. Additionally, many developers are working on residential projects that are budget-friendly and some developers are even offering redevelopment of existing properties. Redevelopment projects will provide you luxury homes and a lavish lifestyle but within your budget.
The infrastructure of Mumbai is highly developed and best in class when compared to other areas of the country. The massive network of roads, bridges, railway lines and trans harbour sea-link are some examples of extensive infrastructure the city boasts of. Moreover, the government’s developmental scheme for the MMR for the upcoming years will surely bring a boom in the real estate sector.
Ever growing Real Estate Market:
The property sector in Mumbai is evergreen and always in high demand. Even during the global pandemic, the property transactions in Mumbai continued. Additionally, investor-friendly government policies are also encouraging people, particularly NRIs, to invest in Mumbai’s real estate. But this is not all, there are many new upcoming luxury projects in Mumbai that will also attract potential buyers and investors alike.
Seamless Connectivity & Accessibility:
Mumbai provides hassle-free connectivity and accessibility to its residents. With an extensive well-laid network of roads, all the suburbs of the city are well-connected to each other and one can easily commute from one place to another. Apart from this, Mumbai Metro lines also connect different areas of the city making it easy for the people to move from one place to another.
Additionally, the freeways connect the Eastern part of the city to the western part as well as South Mumbai to the rest of the city. This exclusive connectivity and upmarket lifestyle that this region enjoys is a major reason why people tend to buy studios, 2 BHK and 3 BHK flats in south Mumbai. Moreover, Mumbai also has an extensive system of the monorail and you can also travel to nearby islands via ferries. A cherry on the top is the trans harbour link that will provide seamless connectivity to Navi Mumbai.
Melting Pot of Cultures:
The truly secular part of the country is ‘Aamchi Mumbai’.
It is a city where you can find people belonging to all colours, class, castes and creed living in harmony with each other. Home to thousands of inhabitants belonging to different ethnicities is what makes Mumbai one of its kind. This city will give you the robustness of different cultures blended beautifully with each other. You can find Muslims, Hindus, Parsi, Jain, Jews, Christians coexisting peacefully within the mesmerizing city of Mumbai.
These are some of the reasons why people lean towards investing in the property market of Mumbai.