Real Estate Trends in Mumbai

Real Estate Trends in Mumbai

By siliconindia   |   Tuesday, January 7, 2014


Mumbai : With the dollar appreciating in value compared to the rupee, more NRIs are looking forward to investing in real estate in India. Since Mumbai is a booming realty market, NRIs have always considered it to be a safe bet to invest in the city. The Government has been making proactive policy, clearly aimed at routing more NRI investments into India. Even though the real estate prices in Mumbai have not substantially reduced, it makes a lot of sense to invest in real estate now as appreciation of the investment is far higher in this city than any other. NRIs prefer projects with low entry level price points when it come to investments, and premium projects for personal use. If one looks at the suburbs of both Eastern and Western Suburbs, the prices in both Goregaon ' Borivali belt and Ghatkopar 'Mulund belt are both touching up. It is one of the finest markets for investors from Mumbai and MMR region looking for investment options, keeping in mind a long term horizon of at least 3-5 Years. The only alternate and suitable option that remains today is Thane if they need to be in close proximity to Eastern and Western Suburbs and yet enjoy the good life. Thane also offers the good views of the Yoor Hills and the scenic and the quiet Ulhas river. The time taken to travel from Andheri West to Nariman Point is the same as from Thane to Nariman Point. The Eastern Expressway being broader without interruption of traffic between Thane and Ghatkopar makes it very quick to exit. Interestingly, the deeper suburbs (Borivali and beyond) and the far-off suburbs like Thane and Navi Mumbai continue to be dominated by end users. To give an example ' a residential property investment in a location like Panvel, Navi Mumbai, puts the investor directly in line for the benefits of many proposed infrastructure initiatives. These include the Navi Mumbai airport, the Nhava-Sewri sea link, a large entertainment complex and sports complex, etc. Navi Mumbai already enjoys strategic proximity to Lonavala and Pune via the Expressway and improved access to Mumbai. The value of a residential property investment in Navi Mumbai is bound to go up by sheer push of infrastructure growth. Except for another economic calamity, a sudden dip in price in any location of the Mumbai residential sector is unlikely. The city continues to be the most robust real estate market in the country, factoring in all the advantages it has, this is not going to change in the near future. Property investors continue to perceive that investing in flats in Mumbai is always going to be profitable, regardless of the location and other variables.

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