The Real estate market of Mumbai has been extremely lucrative for its investors. Besides providing safe investment options, it also ascertains favorable returns. The recent trend of believing more in reality market than gold, mutual funds have been advantageous to its investors. However, it is inevitable for any trend to remain forever and the market does experience its fair share of ups and downs, therefore, its sane to study the property market in Mumbai carefully before making an investment decision.
- The real estate market in Mumbai is rapidly evolving after seeing a low down for the past few years, it’s gaining back the momentum. Hereby, growing at a pace of 9% per annum all across the country and apparently one of the most gains seen in flats for sale in Mumbai.
- Tier 1 Cities like Mumbai rightfully claims to be a hub for realty investment, thanks to the rapid boom to the economy, rapid urbanization across its suburbs and the influx of corporate and multinational companies. A number of prestigious real estate developers in Mumbai have started constructing various luxurious and mid-budget apartments to cater to the growing demands.
- The property market in Mumbai is now in the reach of all sectors due to favorable government initiatives; even the mid-budget residential segment can afford housing like 1 BHK in Vikhroli or 2 BHK in Ghatkopar. Builders, on the other hand, are also coming up with suitable projects targeting potential buyers and investors such as flats for sale in Chembur and 1 BHK in Bhandup. Potential buyers show large interest in Mumbai’s coming up, all-inclusive, well-connected locations such as Mulund, Chembur, Vikhroli, Ghatkopar, and Bhandup.
- With the recent reforms by the Indian government such as the RERA committees in every state, home buyers feel more secure. RERA mainly ensures timely possession of all under construction projects and mandates all builders to register their ongoing projects and provide regular updates on the status of their project to ensure timely delivery of properties to homeowners. The committees impose harsh penalties on builders who are found violating the law. Therefore the recent trend in buying new project in Mumbai is from reputed, registered and experienced builders such as the Haware Properties.
- The rental properties are in as much demand as residential properties. The trend is high in cosmopolitan cities like Mumbai, where more and more people are relocating into smart homes such as 2 BHK flats in Vikhroli, due to better job prospects and enhanced lifestyle amenities. Also, buying a property for investment in a city like Mumbai can help you enjoy a second income.
- Homes with innovative Technology are attracting a lot of attention. Today, more and more people are looking for flats for sale in Mumbai that are technologically connected, high end, and offer easy living smart solutions. The trend for Smart Homes is here to stay, thus the Haware group with their Project Intelligentia in Vikroli has built their residential projects on the concept of Intelligent Zones, Home Automation, smart kitchen, and automated parking tower.
The trends of the Mumbai’s real estate market clearly reveal, that reputed real estate builder with luxurious, unique and intelligent amenities can help you find your dream house within your budget and enjoy favorable returns in the future.