1.Mumbai Real Estate:
Mumbai is the industrial capital of India and also a monetary center of India. Mumbai’s inhabitants is approximately 2 Crore 5 lacks as per the survey conducted in July 2011. There are many industries and small offices current all over Mumbai. Due to both Economic and Commercial development of this city, real estate rates are always higher.
Mumbai Real Estate rates are second top in the world. People desire to purchase in Mumbai Properties due to good earnings and simplicity of commuting. Examine to other Metro cities like Delhi, Bangalore, Chennai, rates of Property in Mumbai are much higher. Due to excessive job opportunities, safe living surroundings, quick and happening life, good returns on real estate investment and various means of transportation makes Mumbai real estate rate much higher than other cities. Nuclear family is the other motive for the high property rates in Mumbai.
Both primary and secondary real estate market are quite active in Mumbai. Primary real estate market is constantly appealing for investors in Mumbai, while secondary real estate market is mostly desirable due to “redevelopment” aspect and lease rental. Both the markets have enormous scope and good results even if the rates are increased. But now a days residential disaster is the significant problem for Mumbai. As a outcome we can observe very few projects which have adequate open space around.
From the investment purpose Mumbai city is preferable due to its good earnings. As per the statics, real estate properties in Mumbai give more than 10% of returns every year. Also commercial real estate market is in huge demand as Mumbai is the monetary hub of India. Sufficient number of opportunities is mainly property in Pune accountable for people to migrate here and results in the high cost in real estate. So if you are also preparing to invest in real estate market then Mumbai Real estate sector wont put you low.
- 2. Property Investment in Mumbai:
Mumbai is now considered as one of the business hubs for the real estate vertical. The number of expatriates, students and tourist coming to the city property in Mumbai has acquired utmost value. Mumbai real estate have may kind of end buyers like the investors looking for many residential and business projects in Mumbai, immediate clients looking for primary and/or secondary properties, the number of company clientele has taken a huge toll on the number of dealings for commercial properties in Mumbai. Mumbai real estate vertical offers huge/heavy earnings in a very short span of investment hence investors are more enticed in the direction of Mumbai real estate market. The number of Multinational corporations coming to Mumbai as it is one of the business hubs in India have brought up the utilization of industrial spaces. The foreign trade earned from such joint ventures and collaborations have had a constructive affect on the Mumbai real estate vertical.
The financial center of the country & the most preferred location for corporates has witnessed a rise in charges as far as property is concerned. Although sometimes the investor / individual / corporates are prepared to compromise while investing in Mumbai properties.
Points to be kept in when an individual or a corporate planning to invest in realty industry in Mumbai:
ñ The initial step is to frame a funds in mind when you are planning to buy a property in Mumbai. Along with price, location is one of the main factor while choosing a property in Mumbai or for that matter in any city.
ñ Hire a real estate professional as these consultants are well verse with the qualities in Mumbai and around the locality you choose to locate yourself.
ñ Evaluate at least 5 or 6 properties before expending in a property.
ñ Choose the best property that suits your necessity to the best stage.
Also while investing in a property in Mumbai consider the future prospects of the area you wish to reside in i.e what kind of developments are possible in the neighborhood. This can be done taking into consideration the current local real estate trends.
- 3. Commercial leasing in Mumbai:
Along with the capital hub of the country Mumbai city is also considered as the industrial hub of the country. This calls for a lot of commercial in the city. Hence a major part of Mumbai real estate is dominated by business properties. Centrally positioned areas like Bandra Kurla Complex, Worli, Powai, Nariman point etc are all full of commercial qualities, as these places are well developed as far as infrastructure and transportation are involved. The fast increasing commercial spaces have now been spreading to Mumbai suburbs like andheri & malad from south Mumbai for various reasons like the proximity of household areas of the man power operating in such firms & the accessibility of spaces to develop the expected infrastructure at economical charges as in contrast to south Mumbai.
A lot of MNC’S with diverse dynamics of organizations like banking & financial institutions (FII’s), Shipping firms, manufacturing firms, hospitality etc have occupied massive quantity of area in the metro city Mumbai. Commercial property in Mumbai majorly consist of industrial areas, warehouses, corporate offices, Gala, shops etc.
Commercial leasing and Residential leasing being two different features in the real estate vertical are diversified in case of legal aspects, pricing and time span for which they are taken on lease in respective cases. Residential apartment in Banglore is commonly taken for a short time period for instance the settlement is commonly made for 11 months on leave and license basis as in contrast to the commercial spaces are taken for a span of 3 years to 5 years on lease. Corporates commonly favor commercial space on lease because it more inexpensive as compared to purchasing commercial space on outright in a city like Mumbai.
Certain factors to be considered before binding to a commercial property in Mumbai are as follows:
ñ Cost: Consult an appropriate realtors who can help you a pricing of property in the area you are seeking out for.
ñ Traffic: In case of commercial space relying upon the type of business you acquire take into consideration the traffic generated by a specific area. In case of companies like restaurants boutiques etc you may call for a property in an area which generates high targeted visitors as in such kind of businesses the footfalls required are high. Hence decide on an ideal area which will India real estate generate excellent traffic depending upon the nature of business.
ñ Amenities: The property should have good volume of amenities / infrastructure as necessary for your business. For example a good ventilation, electric supply etc.
