Buying properties in Ahmedabad and Mumbai are costly – this is probably one of the most clichéd terms associated with the realty sector in recent decades. Although the most understanding of this cost dilemma is well placed, some analysis lacks the in-depth analysis that is necessary before making generalized comments as such.
One must understand why it is costly to live in Mumbai and operate your business, what are the prospects of finding an affordable place to live in the city, and other details before planning anything solid or before you make up your mind.
Mumbai, at a glance, from a real estate buyer’s point of view
Mumbai is the largest city based on demographics in India. It has the highest living standard among many metropolises of the region and it has slowly stamped its authority on being among the trade and business centers of the world. With a population of nearly 20 million, Mumbai is a sprawling city, with countless businesses and millions of differing dreams. This and the rich cultural elements of the city make it a prime destination for wannabe buyers of real estates and sellers too.
The city and its satellite towns are the Indian commercial capital. Major businesses from India and abroad, big government institutions, research centers, and public sector administrators are either exclusively located or headquartered in Mumbai. Apart from it, the city has a massive infrastructural base. Hospitals, schools, roads, modes of transportation, cinemas, trading houses and others – the city has it all so as to cater the needs of millions of inhabitants and others who are directly or indirectly connected to the city.
Why Buy in Mumbai?
Because of all the reasons mentioned above and because of other obvious factors, investing in Mumbai is a wise decision. Either you invest in a business complex or a house for yourselves, the immediate and long-term return values will be high. This means you will be investing for the present and for the future if you are investing in Mumbai.
What are the factors one should consider while looking for real estate in Mumbai?
There are a number of things you must understand before investing in the realty sector in Mumbai. Below are some not to miss points before you put pen to paper.
- Location: Do you need a house in Navi Mumbai or say Wadala, or do you want a business location in the core of the city? You must have a predetermined location to look for, or if you do not have any, you must look at all the places of this huge city and decide which place is better for you.
- Price: You must match the amount you want to invest with the price of the property that you are looking at.
- Prospects: If you are looking for a house or apartment you must be searching for a well-placed neighborhood and if you are looking for business purpose, you would want a vibrant commercial location.
- Return value: The long-term analysis before putting money determines the benefit you will get.