Even though the city of Mumbai is
a small land on the coast of Maharashtra, it has proved to be one of the
greatest draws for the state and has showcased its financial and economic
prowess from time-to-time. From top tourist attractions, such as the Gateway of
India to international 5-star hotels and restaurants, the city generates the
maximum footfall in comparison to other towns and villages in the state. The
quality of infrastructure is also very high, and public transport vehicles are
serviced and updated every year to match up to global quality standards. With
so much activity occurring on every front, the city is without doubt, one of
the greatest contributors to the global economy and overall real estate
performance in India. These are some of the reasons to support the argument
that property rates in Mumbai are truly sky-rocketing for good. And this is
simply the beginning!
Analysts and real estate experts
state that property rates in the city will not witness any significant drop, in
the coming years. Five of the major reasons for it, are as follows:
Upcoming projects in Mumbai provide top international facilities:
Construction magnates and
builders have realised that providing good quality infrastructure is of the
essence, in order to attract maximum crowds. Hence, they now provide added
facilities such as in-house health spas, gyms, swimming pools and other attractions.
In order to regain their investment on these added expenditures, they charge
exorbitant rates from buyers, who are lured by the fact that they are receiving
so much more for less.
The emergence of 'commercial-cum-residential'
property has proved successful
The growing trend followed by a
vast majority of keen business professionals is to invest in a residential
property, and eventually convert it into a full-fledged profit centre. From
small-sized ad agencies to restaurants and hangout eateries, people are now
aware of the monies that can be generated from the comforts of their home; and
they do not wish to lose out on this extra income, unless the amount offered in
exchange is one that gets you thinking.
Majority of properties for sale
on real estate websites are from
Mumbai
If you browse through some of the
most visited property websites in India, you will realise that majority of
properties on sale are posted by users from Mumbai. Individuals have now
realised the potential of web property portals; and thus, they post new
advertisements from time to time in order to ensure that their word reaches
maximum people. The amounts mentioned on the website and the actual amount
charged, usually differs as per requirement.
Commercial property in Mumbai
offers the best ROI in comparison
Major international MNCs, corporate
and global FMCG brands have listed Mumbai as a 'city to watch out for'. The numbers
of opportunities offered by Mumbai are far too many when compared to other
metropolitan cities and developing towns across India. A single commercial
property can generate a great amount of money, if introduced in the right area.
Property investors are aware of these statistics, and thus, they charge
sky-high rates when selling their personal investments to corporate clients.
Closer proximity to essential
facilities such as schools, hospitals and banks
In a city like Mumbai, no
facility is too far away. Essential infrastructure and facilities such as
schools, railway stations, public bus stands or financial institutions, such as
banks and money lenders are always within arms reach, no matter where you stay
in the city. This is one of the major reasons, why advertisers and builders use
this obvious fact to make their constructions sound glorified, and thus demand
high rates from potential buyers, newcomers and immigrants alike.
Ravi Chauhan writes on the behalf
of Therealestate.in, which is the leading real estate portal providing genuine
and accurate information about the current real estate projects such as Ace
Golf Shire. Find more details about Indian real estate on Therealestate.in.
