Owning a property in Mumbai is one of the most sought after dreams. It is also the wisest decision to make. The property rates are rising by every minute and it is always wise to stay in the centre of trade and commerce for better lifestyle and better opportunities.
Investment
However, there are few factors one needs to consider while hunting for the right property.
There are certain aspects that differ depending on the nature of the purpose of buying. If you are buying it purely as an investment for immediate returns, then you must consider a property in the vicinity of a commercial area. This facilitates for great returns. Connectivity is one of the main factors that tenants look out for majorly in a city like Mumbai. The other factors that gives your property the high demand tag is the access to location essentials like schools, hospitals, malls, restaurants, and entertainment centres. The tenant will therefore choose your property over others.
Residential
If you’re looking at buying a property for your own residential purpose, then it calls for extra consideration. It is always advisable to move into a well known belt of the city. Certain places become a potential landmark for future development. These places are often strategically placed with respect to the geographical factor. Connectivity to the major roadways, airport, and railways play an important role in the value of the property. One of the most important factors you must take into consideration is that the number of new properties or new projects will slowly begin to go down in numbers. It is therefore a better option to buy a home in a new project while you can. As per the expert predictions from the Gurus of Real Estate, most of the selling and buying will happen on a resale scale. The major projects will be majorly related to redevelopment.