Mumbai is a thriving economical centre that’s worked its way up to becoming the financial capital of the country. It’s no secret that investing in any of the city’s prospering industries will reap a substantial reward. Regardless of the prevailing conditions, it’s always safe to consider real estate investments as long-term assets that will yield great returns.
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The MMR Attracts Millions Annually
Everyone in India wants to be near the MMR. Housing top-tier commercial markets, global corporations, residential suburbs and retail options from around the world, Mumbai is undeniably, the centre of attention.
Since the migration rate to the metropolis almost never witnesses a reduction, you can be sure that the demands will be inevitably high. The situation requires a smart investor who can take advantage of the opportunity right now to reap profits later.
When it comes to targeting areas, people often think of inner-city localities and neighbourhoods. This also means incredibly high rates since the value of land in such a well-connected centre is bound to be high. That’s why it’s recommended that you shift your focus to the southern side of the metropolis. While the majority is focusing on urban areas like the BKC, you can target apartments in Byculla and other southern districts of Mumbai.
Focus on the South Side
The Southern districts of Mumbai have areas like Cuffe Parade, Colaba, Nariman Point, Girgaon, Byculla, etc. Not only are these areas already progressing commercial centres, but they also nestle landmasses that are ripe for development.
For those who are interested in occupying land for a substantial period of time, they can look for opportunities around South Mumbai. Offering connectivity to the city as well as the sea, you can be sure that residential and commercial real estate options will bloom in the area. You just have to decide if you’ll invest now and be a profiteering seller or an aspiring buyer later.
Upcoming Developments
In addition to the rise in demands, the developments that are underway will revolutionise the infrastructure of the city. Investors can expect transportation networks across the MMR to improve substantially. This will not only cater to the pollution problem that has been manifesting in the city, but it will also cause slums and undeveloped areas to witness growth and prosperity.
Real estate developers and governmental projects in the areas near these stations will eventually turn into thriving commercial markets. Moreover, these markets will gradually raise the demand for more residential communities to be made available.
Already, the market inventory is playing a tug of war between being oversupplied or being barely enough. While it’s difficult to anticipate probable changes, it’s certainly easy to expect the market to be teeming with options once these projects are done. More housing options that will be designed with modern and contemporary features will inevitably attract more buyers.
Many investors keep an eye out for off-plan projects, hoping to reap the benefit of buyer discounts. However, it’s safe to say that you won’t be the only one anxiously waiting for this opportunity. Therefore, you’ll either have to be more connected or quicker than everyone else to seize one of the many luxury apartments in South Mumbai.
What to Look for?
Whether you’re looking at commercial options or residential ones, you should follow some expert advice with regards to your investment venture. Firstly, think about the budget you can spare and the time duration for which you won’t require it. Since every real estate investment is a long-term one, you will need to be prepared to have it locked in for a substantial duration.
Once you have that down, find the ideal locality that promises accessibility, proximity and commendable amenities for residents. The more facilities that are available in and around the property, the better rates you’ll get. It’s useful to keep possible developments in view while making this decision. Next, you should make sure that the property you’re investing in has no reason to be rejected with regards to its interior. That means zero-damage, long-lasting features and state of the art amenities that are modern, useful and durable. Being tech-savvy in home appliances pays off really well in terms of monthly rental incomes.
If you’re looking for plausible options, check out a flat for sale in Byculla. If it doesn’t impress you, it’ll certainly give you an idea of what people look for in a flat. Certainly, we can all learn from developers like Piramal Aranya when it comes to luxurious residential properties for sale in Mumbai.