5 Things to keep in mind while purchasing a luxury apartment in Mumbai

Author: Team Piramal Realty

The demand for luxury housing in India is on the rise and attracts high-net-worth individuals, investors, NRIs and most of the aspirational urban population. Owning a house in the country’s financial capital is truly a reflection of status and prestige. Investing in a luxury apartment in Mumbai speaks volumes about the kind of lifestyle one wants to lead. Everyone aspires for a space that overlooks lush greenery or stunning sea-view apartments at one of Mumbai’s premium addresses. Homebuyers must be conscious while investing in a luxurious flat in South Mumbai to enjoy the best of views and amenities. Here are some tips for homebuyers that they should keep in mind while purchasing a luxury apartment in Mumbai.

Location: 

A well-connected location in an upscale neighborhood is an essential element in owning a luxury apartment in Mumbai. Homebuyers must ensure that the location they select offers a quick commute from the city’s business zones, social, entertainment, lifestyle hubs, and travel junctions such as the metro, railway and airport. Mahalaxmi is one such location, which is located close to the business districts of Bandra-Kurla Complex, Lower Parel, Nariman Point, and Worli. The two new bridges to be constructed by BMC on Dr E Moses Road and the Racecourse will connect directly to Jacob’s circle easing traffic in the long run. The proximity of Mahalaxmi to major existing infrastructure projects in the city makes it easier for the residents to travel across the length and breadth of the city.

Amenities: 

Luxury developments offer beautiful architecture and interiors coupled with state-of-the-art amenities designed to elevate the living experience at home. Homebuyers looking for luxury flats in Mumbai should seek residential properties that offer top-of-the-line interior features and outdoor facilities. These amenities include lifetime views of the sea, a clubhouse with a beautifully landscaped elevated park, large green spaces, fully equipped gym, Multi-Purpose sports hall, a luxurious spa, jogging and bicycle track, infinity-edged swimming pool, indoor games room, yoga room, and reading room making it an inclusive development.

Trusted Developer: 

Apart from the location, selecting a property from a reputable real estate developer is extremely important. Homebuyers must seek exceptional architectural design standards, cutting-edge technology and engineering innovation while browsing luxury projects by a credible developer. It is imperative to invest in a home developed by a trusted real estate developer as they will ensure adhering to the norms of construction quality, listed specifications, delivery of promised amenities, and possession date to ensure a hassle-free home buying experience.

Practical Luxury: 

To meet the rising expectations, brands today are competing to provide innovative concepts and unique amenities for home buyers. Given the high global exposure, consumers are aware of international standards in design and development. Customers evaluating high-end developments should seek value for money. The development should provide a good project lay out with adequate open green spaces, natural lighting, and ventilation.

Lifetime Views: 

A luxury home is a symbol of character, stature, and grace. One must opt for a luxury home that offers a sense of royalty and an address for life. Piramal Mahalaxmi is one such project in Mumbai’s Mahalaxmi that offers lifetime views of the majestic Arabian Sea and the 225 acres of Mahalaxmi racecourse. These features are rare and unique to Mahalaxmi, transcending to awe-inspiring and timeless beauty, making the project a preferred choice for luxury homebuyers.

Buying a luxury home is one of the most critical decisions for an individual as it involves substantial investment and should match the prestige and stature of the homebuyer. Therefore it is critical for customers to carefully research the above factors before investing in a luxury apartment.

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Team Piramal Realty
Founded in 2012, Piramal Realty, the real estate development arm of Piramal Group is one of India's leading developers with 17 mn sq. ft of residential and commercial under development in and around Mumbai. In 2015, Warburg Pincus and Goldman Sachs two of the world's most respected private equity investors invested $235 million dollars for a minority stake in the company. Piramal Realty aims to be the gold standard in design, quality, safety and customer centricity in both residential and commercial real estate. Piramal Realty's developments, while being cutting edge and contemporary, focus on embracing a more intuitive definition of luxury, which celebrates nature, greenery, space, light, ventilation, art, culture and community living.

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