Real estate investment in Mumbai entices a lot of investors and home buyers. Investors are interested in both commercial and residential property investment in Mumbai. And to cater to the ever-increasing demand, Mumbai’s real estate builders are developing several premium projects.
These prime projects feature excellent infrastructure, top amenities, and luxurious interiors designed by renowned architects. But why is the demand for real estate skyrocketing in India’s financial capital?
Discover why Mumbai’s real estate market has the potential for a remarkable investment in 2023 and the advantages of investing in real estate in Mumbai.
Real Estate in Mumbai: Reasons to Invest
Mumbai has been and always will be the ‘City of Dreams’. People leave their villages and hometowns to come here and try their luck in this intimidating city. Many have often wondered, while enjoying the summer breeze hitting their faces at Marine Drive what it must feel like to own a home in this city. But with an ever-increasing population which is attested by the sight of trains running at full capacity during the pandemic, one has often wondered: is real estate a good investment in Mumbai? If that’s your case, and if you are still undecided about taking the plunge and making Mumbai your home, here are 6 reasons why investing in real estate property in Mumbai is a great idea.
Commercial Hub
Known as India’s financial capital, Mumbai is the largest city in the country. It is home to several significant businesses with headquarters and offices there. As a result, Mumbai has seen an increase in commercial property investments, and premium residential projects have emerged in areas like Thane, Mahalaxmi, Mulund, Byculla, etc. As more and more home buyers prefer to purchase flats in Mumbai near their workplaces, these projects are becoming popular.
Expect High ROI
Mumbai’s real estate market offers various investment projects and destinations that vary in layout, location, and return on investment. It is possible to find sea-facing exotic apartments and duplex houses in Mumbai and its suburbs, which offer excellent returns on real-estate investments. In the city, there is always an influx of new residents, which increases the demand for real estate each year. This trend will continue in the future. This higher ROI makes Mumbai one of the best options for beginners in real estate investing.
Connectivity and Accessibility
The public transportation system in Mumbai is exceptional, making it easier to get from point A to point B. Mumbai is well connected to other parts of the city and areas outside, with local trains, metros, buses, and taxis. There are also other AC buses and taxis available.
Mumbai’s infrastructure, including roads and highways, is improving daily, making it one of Mumbai’s most prominent real estate investment benefits.
The city has also seen a rise in infrastructure, such as metro lines and monorails. Because of the metro work on Metro Line 4 from Wadala to Thane, Thane has become a hive of real estate activity. In light of this, a luxury project like Piramal Vaikunth was developed in Thane, and homebuyers and property investors have been enticed to invest in it.
Exemplary Infrastructure
Historically, Mumbai has not had rave reviews for its infrastructure. The situation is now changing. A wide range of improvements has been made to the infrastructure, such as widened roads and well-maintained buildings. Various infrastructure developments have put Mumbai on the map as a lucrative investment destination, such as the Mumbai-Ahmedabad Bullet Train Corridor, Coastal Road, Mumbai Metro Line-3, Mumbai Trans Harbour Link, and Navi Mumbai Airport. The increased demand for flats in Mumbai, specifically those in such areas, has also resulted.
A fusion of cultures
The city of Mumbai has something for everyone. Here, people live in a harmonious environment and celebrate various festivals together. Mumbai’s real estate market is popular because of this. It is one of the few places in the country where one can find such a rich blend of cultures.
Mumbai’s solid global real estate market demand makes it a good investment option.
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 buyers. There are also Luxury flats in Mumbai, which are gaining popularity day by day in different parts of Mumbai as they provide luxury at affordable rates.
Invest in Mumbai Real Estate
It is an achievement in itself to own a home in Mumbai. And for all the other reasons, like excellent infrastructure, accessibility and connectivity, and high return on investment, investing in real estate or fractional real estate investing in Mumbai is a good idea.
Different types of real estate investment exist in Mumbai, and luxury residential projects are good real estate investments right now. Choosing premium projects from Piramal Realty can be a wise decision. One can find the luxurious residential communities of these high-rise projects in some of Mumbai’s most prominent areas. Piramal Revanta, Piramal Mahalaxmi, Piramal Aranya, and Piramal Vaikunth are a few of their luxury residential developments in Mumbai and Thane.
Disclaimer- This article is based on the information publicly available for general use as well as reference links mentioned herein. We do not claim any responsibility regarding the genuineness of the same. The information provided herein does not, and is not intended to, constitute legal advice; instead, it is for general informational purposes only. We expressly disclaim /disown any liability, which may arise due to any decision taken by any person/s basis the article hereof. Readers should obtain separate advice with respect to any particular information provided herein.
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