Why invest In Mumbai?

Real estate in Mumbai is always a hot topic! Whether it is to discuss the incredible soaring prices of property, to lament the high rent and deposit amounts, or discover the newest investment opportunities, this mega metropolis is always under the radar of the real estate sector.

Despite the high realty prices that the city is famed for, there are ample opportunities for investment in the coming years. Not surprisingly, the list of favourable areas for investment in the city mostly features suburban localities. However, owing to city-wide redevelopment schemes, there are now more opportunities to invest in the traditionally expensive parts of the city as well.

Here are reasons why you should consider buying or investing in properties in Mumbai:

1) High ROI in the near future

Mumbai features at the top in the list of favourable investment destinations in the country, because of the scope for high ROI many of its localities offer. Areas like Goregaon (East), Chembur East, Vile Parle (East) & Bandra (East) have seen around 20% ROI in the last financial year. Thane and Navi Mumbai are also popular with investors looking for affordable investment options, with the promise of high returns.

2) City-wide Infrastructure Initiatives

Wadala is a prime example of a locality in which growth of real estate is being driven primarily by multiple infrastructure projects, mainly the Chembur-Wadala monorail, and the Eastern Freeway. Due to its proximity to the Bandra-Kurla Complex (BKC), and fast and easy connectivity to other commercial areas in the city, the prices of property in Wadala have almost doubled in the last 3 years.

Some of the other affordable areas poised to become profitable due to much-needed infrastructure initiatives are Chembur, Mulund, and Ghodbunder Road in Thane.

3) Redevelopment schemes leading to affordable housing

With an increase in demand in residential property, but low land supply, developers are increasingly undertaking redevelopment projects. This is most evident in Bandra East. While property in Bandra West has always been in great demand because of the elite lifestyle, great connectivity and social infrastructure it offers, it now suffers from traffic congestion, and low supply of land. The large population that works in the BKC demands residences that are not more than a half an hour’s travel away; and Bandra East is where it’s flocking to now.

Thus you see, flats in Goregaon East, Andheri, Juhu and Wadala are the safest bets for you to purchase a house if you are planning to struggle to be a part of the glamorous industry.

Buying a residential property in Mumbai is absolutely worth it, irrespective of which area you choose. Just ensure it provides all the amenities that one needs to live a relaxed life.