The real estate is the most sought-after investment options since it assures high-paying returns as well as an easy regular income opportunity. Mumbai is a place where every individual thinks of buying a home. Many people migrate to Mumbai in search of jobs, start a new business or pursue a good career. This has increased the demand for the residential properties.
Reasons why Mumbai is the best city for real estate development?
- Improved infrastructure: The government is taking initiatives to improve the infrastructure of Mumbai to create opportunities for affordable housing in less populated areas. In some areas, the growth in the real estate can be seen by designing infrastructure projects like the Eastern Freeway and Chembur Wadala monorail. Mumbai has the best social and civic infrastructure. It also has huge shopping malls, world-class hospitals and stadiums.
- High return on Investment: Mumbai tops the list of favourable investment destinations in India due to scope for high ROI. The areas such as Goregaon East, Bandra East, Chembur East and Vile Parle have seen around 20% ROI. The investors are moving to Navi Mumbai and Thane with the guarantee of high returns.
- An Efficient network of local transportation: Mumbai is well-connected within the city as well as outside. This is due to an efficient network of local transportation such as buses, cabs, railways, and auto rickshaws. The issues pertaining to traffic has become less due to infrastructural modifications like metro and flyovers.
- Employment opportunities creating demand for residential properties: Mumbai is growing quickly in terms of opportunities as it is the financial capital of India. This has led to a demand for residential properties especially around major business hubs like Navi Mumbai, Kanjurmarg, South Mumbai, BKC, Powai, Thane, and Vikhroli.
Few developing hotspots that Mumbai residents are looking at:
Panvel – The upcoming city in Navi Mumbai
Panvel is one of the upcoming cities in Navi Mumbai with real estate booming and upcoming projects burgeoning in and around the city. It has seen many infrastructure developments, which has enticed a lot of home buyers. It is also witnessing the growth of social infrastructure. Many well-known institutions like the DAV Public School, Ryan International School and Amity University are in Panvel. There are numerous industries in Panvel including Hindustan Organic Chemicals Limited and Oil and Natural Gas Corporation. Panvel has some of the best state-of-the-art facilities and multi-speciality hospitals. It also has some good restaurant options for dining. The restaurants offer services such as take away meals and other online food delivery services. Panvel also offers an excellent rail-road connectivity and the city is well-connected to both western and central railway lines. It offers access to Mumbai-Pune Expressway and the Sion-Panvel Expressway. Panvel is also well-connected to other areas of Mumbai through road transport.
If you are looking to buy a property, invest your money in Hiranandani Fortune City, a global township project in Panvel developed by Hiranandani Communities . The project is spread across hundreds of acres of land and offers studio, 1, 1.5, 2 and 3 BHK flats in Panvel .
Buying an apartment in Mumbai is what every person yearns for. Mumbai is a city of dreams and investing in real estate in Mumbai will never go a waste and being a part of it can surely be satisfying.