The city of Mumbai which was once an archipelago of seven islands is now a bustling and sprawling metropolitan. This financial capital of India is bursting at its seams with people wanting to build a life or a career in this city. Everybody needs a little magic of Mumbai and hence thousands throng each year in search of some space to start a life. This has led to a huge demand for homes, office spaces etc and given a boost to the real estate sector in Mumbai. Real estate in Mumbai is one of the world’s most expensive property market.
With the change in time, the demands buy home buyers have also changed do. They now look for more luxurious homes in the best living pockets of the city. The demand for luxury flats in Mumbai has increased exponentially. The Mumbai Metropolitan Region is one of the largest real estate market in India and contributes about 25% of the overall supply across top metro cities.
As far as the value of properties in Mumbai is concerned, there are certain residential areas which are considered to be real estate gold. This is one of the reasons why Mumbai tops the list when it comes to real estate investments. These areas are some of the best living spaces of Mumbai with all the good features and amenities such as good connectivity, best schools, colleges and hospitals, thriving nightlife, best restaurants and hotels, best residential projects in Mumbai etc. With the introduction of the Real Estate (Regulation & Development) Act 2016, investing in properties in Mumbai has become a safe bet as now the real estate sector is regulated.
Here we list the top 5 locations where you can think of investing in Mumbai as these have the be real estate rates.
South Mumbai is one of the most expensive living pockets of the city. It houses some of the big names in the country such as the Ambani’s, Gores, Tata’s etc. The real estate in South Mumbai is not only expensive in Mumbai but on a global level too. NRIs and extremely affluent home buyers consider investing in real estate in India in this part of the city. Flats in South Mumbai have a high demand than any other area in Mumbai.
Lower Parel is the corporate hub where many businesses have their company offices as well as headquarters. Lower Parel is very close to part of Mumbai such as Nariman Point, Worli etc. Investing in flats in Lower Parel can give a good return on investment, as many people prefer having their home close to where they work. Lower Parel also offers a good social life with a lot of clubs and restaurants in Kamala Mills and also the huge Palladium Mall housing international brands.
Bandra is famously known as the Queen of the Suburbs and rightly so. Bandra connects Old Mumbai with the suburbs. Bandra has localities where the elite of the city, live a life of pomp and style. It also has great connectivity to other parts of Mumbai. It also offers a buzzing social infrastructure. Bandra Kurla Complex is soon to become the next corporate hub as many offices are now shifting to BKC. The area has already become an investment hotspot.
Worli is now being considered as the best well-connected locality. It lies between BKC and Nariman Point and hence gives connectivity to both the important business districts in Mumbai. Homebuyers look out for flats in Worli to own a house which is sea facing and also in an upmarket neighborhood. Owing to this, many real estate developers in Mumbai are now rushing to build one of a kind residential project in this part of Mumbai. Such projects have a high rate of luxury homes & duplex flats constructed.
Juhu is popularly termed as the Beverly Hills of Bollywood as a lot of Bollywood celebrities have their homes in here it is one of the prime locations in the city and is frequented by everyone. The demand for property in Juhu is always high as this place gives good connectivity to other parts of Mumbai. Many luxury duplex flats in Mumbai are to be found in the areas in Juhu.
Looking out for investments options in Mumbai’s real estate needs thorough research and knowing what kind of investment you are looking for. You need to have a clear idea if you want to invest in a residential property in Mumbai or a commercial one as Mumbai offers both. The above-mentioned locations will give you a plethora of options to choose from when it comes to residential real estate.