The year 2017 has been the most fruitful year for the real estate sector, at least in this decade. The demonetization drive launched in November 2016 saw a deluge on the following months, while the ratification of the real estate law and the implementation of Goods & Services Tax (GST) have created a wave of change for the sector. As the landmark real estate bill RERA Act came into force nationwide experts have said that the next one-and-half year would be the right time for the first time home buyers to buy property in a city like Mumbai. If you take into consideration long-term prospects as opposed to immediate financial benefits, buying a house in the current market is favourable, as the future of real estate is always unpredictable.
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Mumbai has always witnessed a constant growth in employment opportunities, attracting people from all over the country and being the ‘It’ city for every house hunter. This has naturally led to a lot of new residential projects being launched, especially in the high-demand affordable segment. As a result, NRIs looking for lucrative returns in new developments in a city like Mumbai, can expect handsome growth in capital values over the mid-to-long term and steady rental income in the meantime. Mumbai features at the top in the list of favourable investment destinations in the country, because of the scope for high ROI many of its localities offer.
Let us explore the Top 6 places to Invest in Property in Mumbai 2018.
Known as the Queen of the Suburbs, Bandra is the juncture that connects old Mumbai to the suburbs. Bandra (East) have seen around 20% ROI in the last financial year. While property in Bandra (West) has always been in great demand because of the elite lifestyle, great connectivity and social infrastructure it offers. Also, since several corporate houses are now moving from Lower Parel to BKC, this area is definitely one to watch out for.
One of the older areas of Mumbai, Worli has recently grown by leaps and bounds. Many agree that Worli is among the best-connected localities in the city. It lies between two of the city’s most important business districts – Nariman Point and the Bandra-Kurla Complex (BKC). Construction activity in Worli has increased as developers rush to launch projects here.
Known as the ‘Beverly Hills of Bollywood’, Juhu is famous for its beach. It is also a posh residential neighbourhood and home to Mumbai’s elite. There is always a high demand for property in Juhu, as it offers seamless connectivity to all parts of Mumbai. Overall, Juhu is definitely one of the most attractive property investment destinations in Mumbai.
Be it Andheri East or West, this area has something to offer in every price range. Its proximity to the local trains, the metro, the airport and various malls and shopping centres make it a sound investment and rental option. Centrally located across two major business working hubs of Mumbai i.e. BKC and Powai, completes the ecosystem of a residential space within the vicinity of a working hub.
The western and eastern expressways and proximity to the high-end localities such as Andheri and Powai, have made Jogeshwari a hot spot for consumers. The presences of several schools, hospitals, and entertainment options, have made it a preferred residential destination.
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Situated near the Powai Lake, this area is like a city in itself. Powai is one of the developed suburbs situated in the north- eastern part of Mumbai and is mainly popular due to the industrial, commercial and residential growth in and around the area. The Jogeshwari-Vikhroli Link Road passes through Powai and connects the western and eastern parts of Mumbai.
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The appreciation the above locations have been hugely witnessed and hence top the chart of property investors. Therefore if you want to buy a property or invest in a real estate market of Mumbai, then Avant Infra is the ideal choice advised to stay in touch with the Mumbai City and reap umpteen benefits.