By Admin Posted Oct 04, 2018 In Real estate
The real estate market of Mumbai is one of the most sought-after and expensive ones in the world. At the same time, it is a very diverse market that caters to a range of budgets and preferences. When it comes to investing in property in Mumbai, you have much to choose from and adequate planning is a must.
Here’s a quick guide to making a smart property investment in Mumbai:
1. Connectivity and accessibility: It’s easy for your property to be lost in Mumbai’s hectic landscape. Good connectivity and accessibility are a must; so make sure to pick a location that is well-connected to schools, hospitals, employment hubs, public transit systems, and shopping malls and multiplexes. The infrastructure of the locality should also be well developed.
2. Amenities and conveniences: Whether you’re investing in a residential property or a commercial one, the in-house amenities that the project offers are key. Look out for amenities such as elevators, power backup, parking facility, green spaces, swimming pool, gymnasium, sports facilities, clubhouse, etc.
3. Reputed developer: There’s no dearth of real estate projects in Mumbai, many of which are still under construction. To make sure that you’re going for a reliable deal, look out for a reputed developer with a RERA-compliant project and a good track record.
4. Budgeting and funding: Once you have shortlisted the projects that you would like to invest in, it is a good idea to review your finances and arrive upon a budget. Explore your loan options to find the most suited repayment plans and interest rates.
5. Resale value: It is important to assess the resale value and the ROI of the property that you wish to invest in. Various factors such as the locality, quality of construction and builder’s reputation influence the resale value and ROI of the property.
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