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The rise of real estate in Mumbai

By Runwal Group Posted On May 02, 2021
Category Residential properties

The rise of real estate in Mumbai

During the pandemic, the demand for quality homes had increased drastically. This is because the pandemic has taught urban hustlers the need for personal space and quality homes where they can live with utmost peace and serenity. Homebuyers were initially sceptical about buying a house during the pandemic. However, real estate developers are now offering various housing options according to the homebuyer’s budget. Unlike yesteryears, there is an array of options available now In Mumbai - be it in terms of price, locality, amenities, and much more.

Researchers suggest the following main reasons for the sudden rise of real estate in Mumbai:

  • Rise of demand due to social atmosphere:
  • Rise of demand due to social atmospher

    People in urban areas such as Mumbai now want to opt for homes where they can comfortably work, live, and maintain a good lifestyle. Homebuyers are looking for residential projects that offer not just four walls and a roof but also integrated amenities such as jogging tracks, recreational areas, community centres, and a space surrounded by nature.

     

  • Availability of bank loans:
  • Availability of bank loans:

    As bank loan rates have plummeted, it has convinced more millennials and baby boomers to opt for new homes for themselves. Unlike any other form of investment, real estate is now a safe asset that people are opting for. The lowering of interests and various schemes and EMI options have also channelled the high demand for homes.

     

  • Lower stamp duty + GST benefits + other benefits
  • Lower stamp duty + GST benefits + other benefits

    The slashing down of stamp duty by the Maharashtra government has given a sudden impetus for homebuyers to invest in real estate. The government also announced the concession of 1 percent of stamp duty charges for women homebuyers. The initial cutting down of stamp duty rate to 200 basis points and various benefits on loans for affordable housing are also some important factors for the sudden rise of housing demand.

    Apart from launching some of the most spectacular projects across Mumbai, Runwal Group has recently launched the Runwal Summer Home Fest. The fest, which runs until the 15th of May, is offering various benefits such as zero registration charges as well as zero stamp duty charges on booking a Runwal home. The assurance of an end-to-end home buying process, zero floor rise, discount on online booking, and the chance to win a car, TV, and home appliances are some of the key takeaways on booking a home during this home fest.

    Offering the most exquisitely designed homes, Runwal has always been at the forefront of the growth of real estate in Mumbai. Some of their projects include Runwal Bliss in Kanjurmarg East that comprises 2 and 3 BHK homes starting at Rs 1.43 crores. If you are looking for a 2 BHK in Kanjurmarg, then this is where you will find your dream abode along with state-of-the-art amenities.

    Some more projects include Runwal Pinnacle situated in Mulund West, offering 1/2/3 BHK homes right at the city’s centre. The luxurious flats of these tall towers are also embraced by nature from all corners. Runwal Avenue is another residential project consisting of 1/2/3 BHK flats starting at Rs 89 lakh only in Kanjurmarg East. The idyllic landscaped gardens of the project overlook the beautiful horizon of Powai and offer deluxe amenities like swimming pools, gardens, and much more.

     

  • Conclusion
  • If you are looking for an opportunity to secure your investment and live a lavish lifestyle, then an apartment by Runwal Group is the one you need to opt for. To know more about the Runwal Summer Home Fest, enquire now.

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Disclaimer

The plans, specifications, images and other details herein are only indicative and subject to approval of the concerned authorities. The Group / Owner reserves the right to change any or all of these in the interest of the development, without prior notice or obligation. Artist’s impressions are used to illustrate amenities, specifications, images and other details and these may be applicable to select apartments only. Tolerance of +/- 3% is possible in the unit areas on account of design and construction variances. All brands stated are subject to final decision of the project architect. This printed material does not constitute an offer and/or contract of any type between the Group / Owner and the recipient. No booking or allotment shall be deemed to have been made on the basis of this printed material. Any Purchaser / Lessee of this development shall be governed by the terms and conditions of the agreement for sale / lease entered into between the parties, and no details mentioned in this printed material shall in any way govern such transactions unless as may be otherwise expressly provided in the agreement for sale/lease by the Group / Owner. The Group / Owner does not warrant or assume any liability or responsibility for the accuracy or completeness of any information contained herein.