Mumbai Real Estate Market Forecast 2018

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Mumbai Real Estate Market Forecast 2018

Mumbai’s real estate market prediction & trends

It has been noticed in the past few years that the real estate market has gone through vibrant changes and sundry factors are responsible for the morose situation, like the increase in the income levels, rapid urbanization and more. This has ultimately led to the amplification of the demand for owning a home and investing in real estate market.

But before we dive into the topic we would like to ask you, some questions. How do you plan to make a grand entry in making investments – no matter whether in equities or real estate? Is it when the marketing is booming and a throng of people are participating in the fray? Well, does this sound efficient to you? I guess no!

Many of us make this mistake and are trapped, as many a time it happens that you aren’t able to receive appropriate results out of your investments. Isn’t it?

Well, in the further paragraphs we will discuss Mumbai’s real estate market forecast and the simple principles of making investments. Also, we will demystify why this year, 2018 is the best time to move on to the option of investing in real estate market in Mumbai.

Let us explore the Mumbai real estate market  in 2018. 

  • Regulatory reforms – Within the past few years you can find many regulatory acts being implemented like Real Estate Regulatory Act (RERA) in 2016 and Goods & Services Tax (GST) in 2017 which have given the sector, certain direction. It is compulsory for every real estate project obey the provisions of RERA which endeavourto ensure that every project is conveyed in time and the cash paid by purchasers for specific ventures or projectisn’t  wasted for different purposes. In short, this attempt of RERA is to safeguard consumers’ interests give them the best. As it will not be possible for any fly-by-night operators to stay for long in the race and only trusted will navigate the roadmap. As a result, both the buyer and seller will be profited.

      

Related: The RERA Effect on the Real Estate Industry

  • Get a home loan at a low rate– In the year 2016; the recorded interest rate was 9.5% which is now in floating in the range of 8.3-8.4%. This results in saving you EMI costs and allowing you owning a home with low cost. Also, it is predicted that home loan rates will remain low for the upcoming few quarters and may even descend further. If we consider, average annual rental yields at 5% to 6%, it makes not much of a difference between the house rent and possessing a house.
  • The present time is the buyer’s market – The combination of abundant supply, low consumption, and high costs have converted into gigantic inventories all over the country. Further, the low consumption is the impact of demonetization which clearly points out towards the fact that it is the buyer’s market for now and for upcoming few quarters. But you shouldn’t expect it for long as the future of real estate is always unpredictable. With RERA working great, many developers are focused on producing affordable and luxurious housing for the buyers.

Related: What is the Impact of RERA on Real Estate Prices in Mumbai?

Further, this report will for sure attract your attention the “Indian Housing Sector Outlook 2018” has conducted a research which has observed that the registration of luxury housing has shown a maximum growth as people nowadays are focused on adopting the luxurious lifestyle. As a result, real estate developers are concentrating on erecting luxurious houses, because of high-profit margins accessible in this segment.

So if you are interested in owning a luxury house in a sound location where schools, hospitals, and entertainment options are in the proximate distance, then Avant Heritage at Jogeshwari East is the best location to choose. To add on, it is RERA registered and has no GST impact. Further, you reside at the walking distance of:

  • Jogeshwari Railway Station
  • Balasaheb Thakrey Flyover
  • Nirlon Knowledge Park
  • Western express highway metro station

Also, you get proximity to Andheri station, airport, high-end vicinities such as Powai and Andheri and more. These are some of the facts that have made Jogeshwari East a preferred residential destination, for investment, according to the new real estate forecast.

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