Amidst different thoughts and opinions, Mumbai realty
has still managed to capture the interest of investors and end-users
alike. Although sales traction has not managed to match the expectation
of developers, financiers are glad that at least the market is moving.
Investing in suburbs
The suburban regions of Mumbai will grow more
than the main city areas. Navi Mumbai and Thane being the most popular
investment destinations, property prices are expected to move upwards in
the next two-three years.
For Navi Mumbai, increased commercial activity
is said to be the key contributor while Thane, Majiwada and
Kasarvadavali seem to be the favourite destinations because of their
established infrastructure and upcoming development. Thane has good
connectivity, easy access to community living and offers all amenities
in close proximity, while, Navi Mumbai currently lacks a proper
transport medium. However, investors can expect a 100 per cent price
rise in the next few years, owing to the upcoming infrastructure.
For investment in affordable hubs around Mumbai, a
few locations that could be good for the home buyers. “Areas beyond
Virar, Badlapur, Karjat and Panvel are can offer properties within Rs 30
lakh and also offer attractive returns over a period of time.
Put your property on lease
Another form of returns, i.e. rent also attracts a
sizeable population of investors. For Investment prospects of Central
localities for rental returns. “Wadala, Kurla East and West are good for
investment and the most demanded property types are 1 and 2BHK units.
Kurla has better connectivity with commercial hotspots of the Bandra
Kurla Complex, hence, this area would give better returns. However,
there are less takers for 3BHK units and that too in very limited
localities”. The localities such as Andheri East and certain pockets of
Ghatkopar where finding a buyer would be easy.
Will the market ever rise?
With lowered interest rates and availability of
cheaper home loan rates, further cut in key rates might bring in better
days for the real estate sector. As the appraisal period is approaching,
increment in salaries can bring in a revival of the Mumbai real estate.
Salary increments coupled with lower interest rates might attribute to a
turn-around in the demand pattern in Mumbai. There are several new
projects which are being launched at very attractive rates, offering
wide range of options to investors.
To read more Mumbai and Thane Real Estate Resources, visit www.mchithane.org
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