Mumbai for certain time did witness the drop in the prices but in the time of recovery, there are certain areas of real estate sector in this city that are developing with fast pace.

In India, the real estate sector is largest contributor to the rapid growing economy. Whereas the developments are considered the different horizons like North Mumbai or Navi Mumbai is turning out to be one of the most promising for living and churning out best returns of Investment. According to surveys conducted Property in Mumbai ranks third when it comes to latest infused infrastructure and contemporary constructions. The housing sector alone contributes around 5% to 6% in the GDP.

In India, the real estate sector is largest contributor to the rapid growing economy. Whereas the developments are considered the different horizons like North Mumbai or Navi Mumbai is turning out to be one of the most promising for living and churning out best returns of Investment.

According to surveys conducted Property in Mumbai ranks third when it comes to latest infused infrastructure and contemporary constructions. The housing sector alone contributes around 5% to 6% in the GDP.

Mumbai for certain time did witness the drop in the prices but in the time of recovery, there are certain areas of real estate sector in this city that are developing with fast pace.

Why Mumbai is called the best Connected City?

Mumbai’s Real Estate with new commercial & residential sector is numero uno and stands ahead compared to other regions or cities. With the launch of various new projects and strong connectivity present in Mumbai is one of the prime reason why people should invest in this city.

It is considered to be financial capital of our country, so the demands of residential, commercial or industrial units are always up trend. Due to the economic expansions in India, there are various foreign investors too looking to seek opportunities in this beautiful city.

The full grown and developing areas are as follows:-

South Mumbai:-

With the up trends of gaining smaller flats for nuclear family, there are certain areas that are in booming demands. Areas like Girgoan, Charni road, prathana samaj are going under the phase of redevelopments. Even the luxurious flats with high tech convenience of parking and other modern amenities are not less and willing to give you more. The prices have now been slashed down but it will be soon ready to take off. The reputed builders are toiling hard to give minute’s details to the flat and keeping the space allocated even for the rain water conservations.

Lower Parel:-

The place was home ground for various mills. The trend of mill is no more. Lands of mills are being sold and in the recent years there is various commercial and residential developments seen. The builders are new verge of changing the residential real estate by presenting 80-90 storey sky rocketing buildings. In the recent times, prices have been little slashed down for this area.

This could be a good investment sign for people who are willing to invest in this plunge of properties. Due to its excellent connectivity to south Mumbai or suburbs, the various renowned builders are introducing their projects.

Modern amenities

Even in the modern constructions, the builders are focussing on the security. Be it commercial or residential projects there are 24*7 services provided. In busy life, the essential of recreation is also required. There are parks, swimming pools, generator back up, hybrid lifts and much more.

Be it residential or commercial premises, in Mumbai the units can be availed with the options of furnished and unfurnished offices.

Dadar: -

Being one of the oldest city and excellent geographical connectivity. Even the public transportation is strong and excellent; In Mumbai property right from the ancient times, Dadar is remained to be one of the preferred locations for commercial or residential activities. Be it central, western or going towards northern lines, the place gives an excellent start to go anywhere.

Pricey and hotspots of Dadar:- With blooming sky rocketing towers like Ekta Invictus on Dr.Ambedkar road and Omkar Woodside inn on Gokhale Road is expected to complete in 3 years. Being closet to work place, the prices are little higher. With the recent redevelopments in the nearby areas, soon the shift can be expected and turning Dadar is numero uno place for work, play or living.

Bandra kurla complex: -

Over the span of years, there has been major shift. Being closest to the Airport and other trading places, the corporate tycoons preferred shifting offices from Nariman point or fort to BKC

The place has fully grown up to one of the biggest commercial sectors in Mumbai property. The existence of various hospitals and 5* restaurants has made this place a well organised hub for the corporate.

With the MNC companies mushrooming here, many corporate are also looking to shift in Bandra. Not to forget Bandra is also home to various Bollywood celebrities. The variations in the areas do decide on prices.

Kalina and Kalanagar:-

Mumbai is widespread with various opportunities and new horizons of avenues. It is needless to say, lot of time goes in commuting. In order to save time, various corporate dignitaries are looking flats in kalina and Kalanagar. There is very easy access to various medical facilities also in terms of offering the high medical facilities like Asian Heart Institute and Lilavati Hospital.

Andheri:-

It is now considered to be one of the favourite hotspot of the suburbs. The place enjoys its excellent connectivity through local trains, metro trains or roadways. Especially in Andheri (E) with the new developments of metro trains, the real estate market is continually in upswing. There are more than lakhs of offices that are on lease or rent. With the slash of prices, Andheri commercial premises could be an perfect one to buy and invest in real estate in Mumbai.

Nallasopara and Virar region

Compared to other pricey areas, the flats in Nallasopara. Home is basic need of the people so people who cannot afford to live in the areas that are expensive, they do get flats over here at very feasible prices. Where water and electricity is concerned, the developments are still required but the places are moving up with the fast pace. The place enjoys its connectivity to suburbs or south Mumbai through highway and local trains. Due to its train connectivity in western line, The North Mumbai real estate is demanding.

Investing in commercial or residential premises

Properties are promising and could even give you highest returns if invested smart. While considering for commercial or residential premises does look for good places or even if you trying to invest in new upcoming projects then do go with reputed builders. It is important to be considerate with the amount you are looking to invest. Do invest in the property only if it gives you 9% or more than that of the average lease amount.

If you wish to have steady income in the near future then residential premises would be a better option. However the investors should be well acquainted with the laws and expenses that would be incurred in the future. Like the landlord is liable to pay the cost of general repairs or the maintenance and vice versa the licensee has to pay the cost of electricity that is being consumed by them over a span of years.

According to the risk appetite too these factors should be considered upon. It depends on the investors and the number of years that are willing to invest on. Even while giving out real estate property in Mumbai for lease it is important to be aware of the standard leasing procedures and documentations.

Kalyan:-

Due to its prime capability of giving affordable housing options, the focus is also shifted towards this central side. The stretch that falls under the Kalyan Dombivali Municipal Corporation and Mumbai Metropolitan regions is witnessing lot of developments. There are various developers coming up with big time projects and promising to give better infrastructure and modern amenities in new rise of constructions, the renowned builders are Lodha group, Nirmal lifestyle, Raunak group, Laxmi housing to name few of them. The new corporate destination is Dombivali too because of its affordability even for the middle income generators too.

Kalyan Vs suburbs:-

Compared to many other places of suburbs, the lease or ownership flats are low and feasible. Even the proposed Airport is just 35 kms away from the city. There are various malls developments and new malls have opened up in the city which is again a plus advantage of people investing here

There are various employers in Dombivali and lot of SMEs and large scale industries are having their base there, thus it is very easy to commute and reach offices there. Kalyan does have huge space of expansion still left therefore in future it could be considered as one of the cream area of real estate developments.

Chembur:-

With the excellent connectivity offered by chembur expressway and other prominent factors, this Tier 1 city has simply grabbed the eyeballs of many. With the recent squash of redevelopments and new setups, the commercial or residential properties the prices are all set to increase even in the future.

The arousing developments here do look promising in terms of yielding out higher returns for the investment. When the investors are looking to add the real estate property in portfolio, the chembur option is good and viable option even for the future investments.

New life even to work places:-

The central side of Mumbai is also adding up a new life by providing modern amenities like hi-tech gym, parks and much more. There is highly impressive developments seen even when it comes to socio infrastructure like schools, hospitals or restaurants.

Second home concepts around Mumbai:-

The flurrying demands of second homes near Mumbai have become more prevalent one. The concepts are very near to this city, but yet give you the pleasant time to stay in midst of nature. The talegoan side is also one of the preferred options for the second home concepts. With the proposed infrastructures like Metro trains, these places will become the first home for many people.

Vashi and Airoli:- With new Chembur express free way and connectivity through highway. There has been rapid increase in selling of commercial premises. The demands of retail space and entertainment zones are also on high verge. Many small investors are making their base with Airoli. The rent or lease returns are expected to boom upto 9% to 12% in the future coming years.

Conclusion:-

In India the real estate sector does have 5% to 6% contribution to the overall sectors. With hi-tech developments and verge of giving contemporary infrastructure, the premium 13 locations in the real estate properties in Mumbai are becoming the smart talk of the town. There has been substantial change even in the concept of commercial sectors.

Not just normal table and chair, the new ones are also offering hi-tech facilities for gym, ample parking space and open parks etc. The placing of investments is also one of the options why people are looking forward to invest in mumbai real estate.

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