Reasons for Investing in Residential Real Estate of Mumbai
The Indian real estate market has come up after its pitfall in the previous decades. In fact, it has now turned into one of the country’s leading industries
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The Indian real estate market has come up after its pitfall in the previous decades. In fact, it has now turned into one of the country’s leading industries that are attracting billions in terms of foreign and local investments. The current government’s pro-investor and pro-buyer initiatives have made it easier for interested parties to engage with the market.
While there’s no denying that there have been downfalls as the market crashed, the current scenario and future developments are set to leave the past far behind. For all those who’re still in doubt, here are a couple of reasons why you should invest in Mumbai real estate in 2021:
All across the metropolis, countless residential and commercial projects have revolutionised the entire infrastructure. Take some of the posh areas like Juhu, Worli and Altamount Road, you’ll find that the demand, as well as the rental yields, are rising through the roofs. Although it might not be available in the budget ranges of most, the profits that these areas boast of are undeniable.
Coming over to the less-posh neighbourhoods and those that have established a reputation for becoming retail and commercial hubs like Bandra, we have several communities thriving with investment opportunities. All areas of South Mumbai are seeing remarkable growth as investors and developers are pushing each other to build and sell more additions in the inventories. One of the most notable examples of this can be the 2 bhk flats in Byculla that have thousands of investors interested.
Amenities and Facilities
Compared to the past, the provisions, as well as the accessibility to these provisions that have been made available now, are revolutionary. With plenty of markets providing top-notch malls and retail centres available at every corner of the city, residents are spoilt for choice.
The city has made many endeavours to cater to its increasing pollution problem by paying special attention to its infrastructure. Green landscapes exist in more numbers than they ever did before. Moreover, to encourage a healthy lifestyle, residents have a vast variety of fitness centres, gyms and parks that are available everywhere. You don’t have to go to the immense Sanjay Gandhi National Park when you have thousands of little ones that are ideal for a jog or picnic.
For families, there’s easy access to countless reputable hospitals that provide top-notch services. Educational institutes that work with contemporary curriculums in all aspects of sciences and arts are available close to every community.
The main reason that should be able to convince every smart investor to dive into the market right now is the upcoming developments in Mumbai.
To cater to the transit and transportation issues that were rising in the city, the government has started working upon several projects. These include state of the art metro lines that will run across the whole city, providing easy access from the North to the South and from the East to the West. Connecting all parts of the seven islands of Mumbai, these metro lines will eventually cause the underdeveloped landmasses and slums of the city to prosper.
Leading to the development of residential and commercial projects in every area, the transit system will also make it easier for people living in the periphery of the MMR to be able to travel regularly without wasting all their time on the roads. Obviously, it would mean that those who invest in a 2 bhk apartment in South Mumbai right now will have a property that is almost 30% more than its current worth in times to come.
Another project that is set to change the landscape is the Trans Harbour Link. This link will connect areas of Sewri with that of Nhava Sheva. Once completed, it will lessen the travel duration by almost 50%. Moreover, this project is aimed to increase its capacity in years to come in order to accommodate more vehicles than its initial phase.
Finally, the development of the Navi Mumbai International Airport is a project investors should be on the lookout for. Not only will this project cause a boom in the residential and commercial sectors but it will also lead to massive appreciation in the areas surrounding it. Investing right now will mean that you can secure yourself a great property that will inevitably have its value increased. Consequently, you can choose to either flip the property for profit or enjoy the increasing rental yields for years on end.
Real estate investments are not that easy as they require experience and tons of research. You’ll have to be patient and wise with your endeavours as with an investment this big, a significant amount of risk will follow as well.