Mumbai, also called the ‘Financial Capital of India’, is one of India’s most expensive real estate markets. The financial capital has witnessed tremendous growth in locations to invest in Mumbai due to its positive market developments after COVID-19. This growth has made banking institutions offer lower interest rates to customers and has hugely impacted enquiries that rose between March and August 2021.
Mumbai single-handedly contributes about 25% of the overall real estate markets in India. Being one of the top-most preferred destinations for investors, the city has gained a maximum number of customers who want to reside and invest in Mumbai. It is suggested that customers should not rush and take decisions at the prompt when purchasing a house. This process requires knowing every detail as per the location, price, size, and many other factors. Also, the government has offered the easiest and safe way for customers to invest/purchase the property and make returns. The government introduced the Real Estate (Regulation & Development) Act 2016, a regulatory body for real estate, which has boosted the customers to invest in top hotspot locations in Mumbai safely and hassle-free.
There is a common perception in people’s minds that escalating prices of properties in Mumbai have led down the investment opportunities- but that’s not the fact. People are purchasing and investing in the properties that come under the developing suburbs in the city. Some of the places that have sought the attention of the customers for investment include- Dombivli (East), Juhi Nagar (Navi Mumbai), Kalyan, Andheri (East), Malad (West).
Let’s check where one can think of locations to invest in Mumbai :
Dombivli (East): The Dombivli (East) location is known for high rise apartments and is a hub of budgeted residential and commercial spaces. It’s the best place and one of the most preferred locations for making any investments in property. Located in the suburbs in Thane, its North lies to Kalyan, Ulhasnagar to its East, Kolegaon to its South, and Dombivli (West) and Ulhas river to its West. Some of the major and renowned townships in Dombivli (East) are Lodha Codename Celebration, Regency Anantnam, Runwal My City, Versatile Valley, and many others.
Juhi Nagar (Navi Mumbai): It is one of the most popular locations situated in Navi Mumbai. This place has one of the known market places near Sadguru Hotel and Suyog Arcade and attracts customers to meet their daily needs. Close to Vashi and Nerul, it offers excellent connectivity from Juhi Nagar. Some of the prominent projects of the area are Raheja Universal, Arihant Group, Casanest Realty, and others.
Kalyan: This city comes under the Thane district of Maharashtra State in the Konkan Division, and it is a part of the Mumbai Metropolitan Region (MMR). Kalyan is the 9th biggest city in Maharashtra and is also a hub of many budgeted residential and commercial properties. Also, Kalyan-Dombivli has got the face of the smart city, which has brought tremendous growth in infrastructure and development of the city. Some of the famous projects in the area are Tycoon 51, Runwal My City, Tharwani Solitaire, Kohinoor Majestic and others.
Andheri (East): The real estate hub of Andheri (West) has seen a major development in infrastructure and its environments. It has been seen that the average selling costs of residential apartments in Andheri (East) is around Rs. 19,000 per sq ft. This place is close to Powai, Goregaon East, Vile Parle, Andheri West. Some of the major projects in Andheri (East) are Lodha Eternis, Kanakia Sevens, Vasant Oasis and many others.
Malad (West): The famous city of Mumbai, Malad (West), is a busy mix of residential and commercial complexes located in the town. The location of this place is close to Bandra Kurla Complex and Andheri Commercial Zone, due to which there has been a sudden increase in investment in properties by the customers. Malad (West) caters the middle and upper-middle-income group homebuyers and offers the average selling cost of around 17,500 per sq ft.
Conclusion
Investing in property in Mumbai can be a logical aspect when it comes to wealth creation. If you want to buy property in Mumbai, you can go with the above locations and turn your dream into reality. All you need to be clear is whether you are going for investment purposes or purchase the property. In the near future, the demand for properties in Mumbai will increase, and property prices will likely improve.
