Real Estate Investment in Mumbai – A Brief Guide

Mumbai, the capital city of Maharashtra, is perhaps one of the most convenient cities to relocate if you look at it from real estate perspective. Being an island city there are not many options when it comes to choosing an area. The city can be largely divided into Western, Central, Suburban and New Bombay areas. In addition to these there are areas like Powai and Chembur. Once you have identified the place you want to reside or open an office, there will be no trouble at all to pin down a suitable property. Since this is being hailed as the financial capital of India, Mumbai has a lot to offer when it comes to real estate. In the recent times there has been a growth in the real estate market. Owing to this, several projects have commenced and finished successfully to provide better living opportunities in the Indian metropolises.

You might be moving into the city from abroad or any other city in India, Mumbai has place for everyone. The living spaces available here range over a variety of budgets. Presently the city houses a population that is about 17 million. One of the major advantages of living here is that the city is culturally eclectic and cosmopolitan. The real estate market here has escalated due to the ever growing demand for more accommodations and its beneficial geographical location. Presently, most of the real estate developments in Mumbai are aiming at long term investments that will lead to better returns. Thus, you will find high-rise accommodations, offices, hotels, etc in the city. Such buildings are expected to work wonders for Mumbai’s burgeoning skyline.

Locality is one of the first things that you consider (besides cost) while looking for a living space. For instance, while discussing the Western Suburbs the first thing that comes to mind is Bandra. This is referred to as the queen of suburbs. There are very few areas in the city that can provide what Bandra does. This place is home to city’s rich and famous and ranks as one of the plushest areas. Right from posh homes, fitness studios to fantastic restaurants – the benefits of living in Bandra are endless. Places like Santacruz or Khar are easily accessible from here. In addition to this the western side of Mumbai also includes Andheri East and West. Both these areas are known for commercial as well as residential spaces. If you are new to the city get familiar with the localities before taking the plunge.

Transportation

Mumbai is adequately connected with rails. The Mumbai local trains are the life of the city. There are other means of transportation as well, like, the buses and autos. Within the city autos are commonly used by the travelers.  Before you invest in a particular property in Mumbai make sure that it would be suitable for you to travel to and from the locality.

Find out the details about the property

After choosing a location, you next step would be to find out the details of a particular property you like. Research a little on the background of the real estate company or the builder. Delays are part of constructions and there might be genuine problems. But make sure that you have all the required documents and the legalities are in order so that you know that your money is not going to the drains.

Professional help is required

If you are not familiar with the entire buying transaction process it is better to get professional help in the form property advisors.

In terms of opportunity Mumbai is a great city to be. But every coin has two sides and as they say, ‘precaution is better than cure.’ Buying a property is a considerable investment and it always helps if you channel your investment properly. So choose wisely and live happily!