Why Property in Mumbai is the Best Investment in the World

Owning property in Mumbai is a lifelong dream for most people who come here to work, study or to just start a new chapter of their lives. But for a lot of people this dream remains just a dream because property in Mumbai is one of the most expensive in the whole world. And that is one of the reasons why people choose not to invest in property here at all. The city is also too crowded and there is very little space left. But the truth still remains that owning property in Mumbai is a matter of prestige and no one can take away from that.

If you’re still wondering why you should consider investing in residential property in Mumbai then here are some reasons that will convince you to do that.

1.  

 Best return on investment: New flats in Mumbai may cost a bomb, but there is no denying that they can also get you the best returns. Just by renting out a 2BHK flat in Mumbai you can earn a substantial living for an entire family. The high cost of real estate in justified in the high returns one gets when they put it on the market.

2.    Commercial capital: If you’re a working individual then you know that Mumbai is the hub of all businesses and everything related to commerce. Whether you work in an MNC or have a business, being in Mumbai will grant you access to the entire industry and bring you opportunities that you may not get anywhere else.

3.  Connectivity and accessibility: Mumbai is not only well connected other parts of the country but to other parts of the world as well. If you are someone who travels abroad or even anywhere in the country, you know that Mumbai is the hub for all travel. Even within the city you can rest assured that no matter what time of day or night it is, you can go down to the street and hail a taxi or and auto rickshaw that’ll take you wherever you want.

4.   Best infrastructure in the country: Mumbai may be under construction right now, but there is no denying that this city has some of the country’s best infrastructure. Both commercial and residential property in Mumbai has a premium feel about it.

5.  Budget housing: It’s no longer strictly true that all residential property in Mumbai is expensive. You can find new flats in Mumbai at highly competitive rates owing to the huge number of new construction taking place throughout the city.

Share this article & your thoughts with us in the comments below!

Advantages of owning ready possession flats in Mumbai

When you go looking for residential apartments in Mumbai, you have two options available. One is to purchase a ready to move-in flats or to go for under-construction flats. There is always a raging debate about the merits and demerits of each. The truth is both these forms of properties have advantages and disadvantages and really depends on your spending capacity and choice which one you choose.

Under construction is a bit of risky investment because, a lot of times construction can get stalled due the legal problems with the builders, lack of funds and lot of other things. There can also be a delay in possession which can lead to delay in loan payments and so on.

When you purchase ready possession flats in Mumbai, the biggest advantage you have is that you get what you see. Under-construction flats can be bit of a surprise when they’re completed. But there are a few cons to purchasing ready possession flats too.

Here’s exploring both the pros and cons of purchasing ready possession flats in Mumbai

Pros:

1.   Available immediately: When you purchase ready to move in flats you have the liberty of choosing when and how you want to move it. You don’t need to wait for it to be ready. There are also no surprises as to the fittings, the quality of work and construction because you get what you see.

2.    No legal difficulties: Since the flats are ready and the construction is complete, one can check that all legal requirements like the occupancy certificate, completion certificate and land titles are all in order. This also makes it easier to get your loans approved swiftly.

3.    Save of tax: You don’t have to pay a service tax when you purchase Ready Possession Flats in Mumbai. This is a big save since the amount can go into lakhs easily.

Cons:

1.    Expensive: Ready to move in flats are much more expensive than under construction flats.  There is also no flexibility in payment plans and you have to pay the down payment, the registration charges and stamp duty all in one go.

2.   Limited scope for modification: You can obviously renovate your flat after purchase, but when you compare it with under-construction flats the scope is quite limited.

3.  Limited choice: The real estate market is always booming in Mumbai and so there aren’t always ample choices for everyone. Property sells like hot cakes here and you need to be swift in your decision making if you want the flat you like.