Being the financial capital of India, Mumbai is bursting at its seams with people desiring to build a life or a career in this metropolitan city. Everyone requires a little magic of Mumbai and hence thousands of people move to this city each year in search of some space to start a life. This has led to a great demand for homes, office spaces, commercial spaces, etc. and has given a boost to the real estate sector in Mumbai
Mumbai has the most expensive real estate in India and has got 67 PIRI (Prime International Residential Index) rank according to the survey. The city is the 16th most high-priced prime residential property market in the world. Properties in Mumbai or Mumbai real estate market attract a lot of home buyers and investors. The Mumbai real estate market is still seeing a boom although the prices have been regulated to an extent by certain acts such as RERA. Whether it is residential properties or commercial properties in Mumbai, there are numerous interested investors for both. In these recent years, real estate builders in Mumbai are coming up with new projects of a superior level. These projects have extremely good infrastructures, all amenities, jaw-dropping interiors from reputed designers and more. And this is captivating many investors to invest in real estate in Mumbai.
Here are a few reasons as to why one should invest in Mumbai’s real estate market.
- Excellent commercial hub: As Mumbai is currently known as the financial capital of India, many major businesses or organizations have their offices and headquarters in the city. This has led to a rise in investments in commercial property in Mumbai. Residential projects in Mumbai are even on a rise in important areas such as Lower Parel, Powai, Vikhroli, BKC, etc. as more and more home buyers prefer to purchase flats in Mumbai which are close to their workplace.
- Seamless connectivity and accessibility: Mumbai is equipped with exceptional public transport that can easily help one to reach from one location to another. With the numerous options like metro, local trains, buses such as MMT, TMT, NMMT, and also other AC buses, taxis, and more, Mumbai is well connected to other parts of the city and also to parts that are outside the city. Owing to this good connectivity, the city becomes an excellent investment opportunity as civic infrastructures such as roads and highways are improving day by day, eliminating the traffic woes. Also, Mumbai is seeing a rise in certain infrastructures such as the construction of Metros, Monorails, etc. For e.g. the metro work for the Wadala to Thane i.e. Metro Line 4 has made Thane a hot spot in Mumbai for real estate deals. This has convinced many investors to buy a property in Mumbai.
- Quite good infrastructures: When it comes to infrastructure in Mumbai, the city has not got a positive review in the past for its infrastructure. But things are now changing in the city. The roads are widened and are maintained well and there are no more cramped up construction of buildings in the city. For e.g. infrastructure proposals such as the Chembur to Wadala Monorail and the Eastern Freeway has made the city a lucrative location to invest in. This has also given a boost in the demands for flats and individual houses in Mumbai, especially, connecting to such areas.
- Budget-friendly housing: The Mumbai real estate market is going through a trend of budget-friendly housing. There are many residential projects in Mumbai, which are now being replaced by redevelopment projects, where a number of real estate builders are redeveloping buildings to provide affordable flats to the buyers. There are also Luxury flats in Mumbai, which are gaining popularity day by day in areas such as Worli, Juhu, and other parts of South Mumbai as they provide luxury at affordable rates.
- Blend of different cultures: Mumbai has a place for everybody and welcomes people from different cultures and communities with open arms. People from different religions, communities, castes, etc. live here in harmony and celebrate all kinds of festivals together. This is one of the major reasons why a lot of people prefer owning a house in Mumbai. There is no other place in India that can give you such a unique blend of different cultures.
Investing in real estate or property in Mumbai is a better step to consider. Possessing a house in Mumbai is an achievement in itself. As the city has got a great demand in the global real estate market too, investing for property in Mumbai can turn out to be a good decision for you.
