Properties in Mumbai attract a lot of investors and home buyers. The real estate market in Mumbai is still seeing a boom even though the prices have been regulated to an extent by acts such as RERA. Whether it is commercial property in Mumbai or residential, there are interested investors for both. Real estate builders in Mumbai are coming up with projects of a premium level. These projects have excellent infrastructure, all amenities, jaw-dropping interiors from big designers and more. This is luring many investors to invest in real estate in Mumbai.
Here are a few reasons as to why you should invest in Mumbai’s real estate market.
1. Commercial Hub
Mumbai is rightly called the financial capital of India. Major businesses have their headquarters and offices in Mumbai. This has given rise to investments in commercial property in Mumbai. Residential projects in Mumbai are on a rise in areas such as Lower Parel, BKC, Powai, Vikhroli etc. as more and more home buyers are preferring to buy flats in Mumbai which are close to their workplace.
2. Connectivity and accessibility
Mumbai is one city with exceptional public transport which can easily help you to reach from point A to point B. For e.g. The Mumbai Local trains can help you reach from CST which is one corner of Mumbai to Panvel which is the other corner. Similarly, you can go from Churchage to Virar too. With the option of local trains, metro, buses such as MMT, TMT, NMMT, and also other AC buses, taxis etc, Mumbai is well connected to other parts of the city and also to parts outside the city. Due to this Mumbai becomes a good investment opportunity as civic infrastructure such as roads and highways are improving day by day, reducing the traffic woes. Also the city is seeing a rise in particular infrastructure such as construction of Metros, Monorails etc. The metro work for the Wadala to thane Metro Line 4 has made Thane a hot spot for real estate deals. This has convinced many buyers to buy a property in Mumbai.
3. Good Infrastructure
Talking about infrastructure, Mumbai has not had rave review in the past for its infrastructure. But things are now changing. There are no more cramped up construction of buildings, roads are widened and are maintained well. Infrastructure proposals such as the Eastern Freeway and the Chembur to Wadala Monorail has made Mumbai a lucrative city to invest in. This has also given rise to the demands for flats in Mumbai, specifically pertaining to such areas.
4. Affordable housing
The real estate market in Mumbai is going through a trend of affordable housing. Residential projects in Mumbai are now being replaced by redevelopment projects, where many real estate builders are redeveloping buildings. Luxury flats in Mumbai are gaining popularity in areas such as Juhu, Worli and other parts of South Mumbai as they provide luxury at affordable rates.
5. Blend of different cultures
Mumbai has a place for everybody. People live here in harmony and celebrate all kinds of festivals together. This is one of the reasons why a lot of people prefer owning a house in Mumbai. There is no other place in the country which can give you such a robust blend of different cultures.
Investing in real estate in Mumbai is a good step to consider. Owning a house in Mumbai is an achievement in itself. Given its demand in the global real estate market too, investing here in Mumbai can turn out to be a good decision for you.