Investing in Mumbai has always been a lucrative investment for both investors and buyers while buying or selling the property. The year 2018 has everything going good for the city with various affordable, mid-segment and high-end housing schemes by many big developers being launched in the areas like Navi Mumbai, Panvel, Kharghar etc.
Safalya 2 apartments in Bandra West is one of the major projects in the area which offers magnificent accommodation with a subtle touch of contemporary and stylish lifestyle. In spite of the skyrocketing prices of the properties, Mumbai still attracts many investors and buyers because of the great returns on investment. Bajaj Finserv Homes and Loans provide a complete assistance on investment options and offer affordable home loans with an easier, quicker and minimal documentation procedure.
A Preferred Investment Hub
Mumbai has been ranked 12th among one of the most preferred real estate investment hubs. Even after the GST and demonetization, the real estate market has seen great liquidity and development prospects. The areas around East Ghatkopar has saw almost 20% return in investment in the last year. New projects in Mumbai like Aradhya Saphalya developed by MICL Group offering affordable houses of 2 and 3 BHK are equipped with a higher level of security and world-class amenities.
Savings in EMIs
The banking system has increased the liquidity which has contributed to decreased lending rates for the home loans. The rates of interest on home loans have reduced considerably in the recent years. This reduction helps in saving the amounts paid in EMIs and enable the people to finance their homes in lower costs. Home loans rates are expected to remain lower in the coming quarters and can even go down further.
Current economic factors like demonetization and abundance of schemes in the area have tipped the scales in favour of consumers. The inventory projection has forced the developers to prioritize the completion of existing projects instead of launching new projects due to lack of funds. New projects in Mumbai has seen a decline of almost 75% in the recent years. However, the current situation puts the potential buyers of the property in an advantage of being able to negotiate better and clinch a worthy deal.
Better Infrastructure and Location
Areas like Kharghar, Panvel, and Ghansoli offer infrastructure facilities and better connectivity with all the important locations. Kharghar is said to be one of the best developed locations with properties ranging from Rs. 6000 to Rs. 10000 square feet. Panvel has a history of being almost 300 years old. The Mumbai-Pune Expressway, well-planned and wide lane roads provide ample amount of opportunities to invest and buy properties. The residential houses here range from Rs. 4000 to 7000 per square feet. Ghansoli is another well-developed locality with excellent connectivity of local trains, BEST buses having a frequency of 10-15 minutes. The property prices here range from Rs. 8000 to 8500 per square feet.
The property rates in Mumbai are in an upbeat mood with an increase in the Sentiment Index at its best. There is an immense transformation in the last few years due to many new reforms and frameworks by RERA. It has made compulsory for all the developers to complete their projects including Safalya 2, on time and the prices paid by the purchasers cannot be used for anything else other than the project. The city has also been allotted with an extra 800 acres to be used for construction purposes. With significant rise in the infrastructure and upgraded lifestyle for both first and second time home buyers, Mumbai has become a profitable investment option.