Surging Demands Of Residential Spaces In Mumbai

By Author: Gaurav Verma
Total Articles: 15
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Mumbai is the dream city for many and has something to give to everyone. It is the place of folks from small cities, towns and villages, and is home to Bollywood stars. Mumbai is the home to both rich and poor. Considering this fact, real estate industry is now more interested in constructing affordable apartments in Mumbai, to cater the demand from people of all class. In terms of property, Mumbai real estate has a plethora of residential options, ranging from lavish bungalows and villas, to affordable apartments.

Alike any other metro city, real estate segment of Mumbai is on all time high, with the increasing demands for residential space. This demand has come up with the advancements in the suburban areas. A promising place to develop for residential property is Thane, which lies in proximity to Mumbai. In fact, not only residential, the place has also witnessed boom in commercial properties. A number of real estate companies and property builders are launching multi-billion projects in the city. These projects are a mix of high profile properties, properties for middle class society and cheap and ...
... affordable homes for poor as well. Factors that make the place more popular are, efficient municipality, sound infrastructure, pleasant, weather and greenery.

Navi Mumbai is another suburban area of Mumbai that provides various affordable options in terms of residential properties. Good water supply, better road infrastructure and proximity to Mumbai make this place desirable for the real estate industry and investors. Buying a property in Kandivali West, New Panvel, Dahisar, Vashi, Nerul and Belapur is very rewarding for the future investments. These suburbs also have a number of reputed schools, shopping malls, multiplexes and restaurants. The suburban areas also have given higher returns of investment to the investors, while attracting more and more foreign investors.

Government has also collaborated with reputed builders to make the residing place affordable for the middle-class people who do not afford to reside in areas like Bandra and Juhu. Upcoming residential projects have provided the investors with a perfect match of both price and choice. Such projects can be profitable for the middle class society as they will be able to buy apartments on lesser prices and if desired, can rent them also, thus creating another source of income for themselves. However, it is suggested to conduct a proper market research before finalizing any project and investing your hard-earned money.

The reduced number of residential places and increased cost of living in Mumbai has forced the people of lower-middle class and lower class to reside in chawls. Hence, there is need for the government and builders of Mumbai to make some positive middle way that can prove to be in the best of interests of all. Relaxation in the strict Foreign Direct Investment (FDI) in Mumbai real estate is one of such steps, which brought a big relief for the foreign investors. This had directed more and more funding from international companies to come and invest in India. The result was quick and the foreign companies ended up buying thousands of square feet of commercial Mumbai properties, with the demand remaining ever increasing.

It would be the best time to invest in Mumbai properties. It is always advisable to take services of real estate agencies to stay safe. The real estate agencies also have ties ups with the builders and developers, who can also help you in reducing the costs of the property. The best place to find such agencies is Internet, where the names of the consultants and real estate agencies are given. You can contact them and have the best deals in your budget.

The Author has been writing resourceful articles for the avid readers who wish to learn more about Indian real estate. The above article by author discusses about Mumbai’s real estate. Ample research has been done in order to compile the given data and present an overview of the industry.