Have you ever Googled the best places to live in India? Well, in case, you do then Mumbai would be among the top 5 cities in the country to work and settle down with family. We would provide you with the top 10 reasons why you should buy a property in Mumbai.
- Land of opportunities
Mumbai is the commercial headquarters of India. From Bollywood to the biggest MNS, Mumbai has a room for every profession. Every day, thousands flock to this ‘City of Dreams’ to find jobs. All the major business and MNCs have their head offices in Mumbai. So, wouldn’t it be preferable for a professional to buy a flat near his workplace? In the last few years, Powai, Vikhroli and Lower Parel have become a favorite among the home buyers.
- High ROI
If Mumbai is one of the best cities to live in India, it is also one of the costliest. According to the eighth annual edition of the Wealth Report Asia released by Swiss private banking group Julius Baer on December 4, 2018, Mumbai is on the eight spots in the list of 11 most expensive cities in Asia. But then, there is a good side too. Properties in Mumbai promise high ROI (return on investment). At times, home buyers have seen around 20% ROI.
Mumbai is well connected by road, air, and train. In terms of local transport, Mumbai local trains have become world famous for their timely operation.
- Infrastructural improvements
With Mumbai being the entertainment and financial capital of India, the government makes sure, the city runs smoothly. So, many proposed infrastructures such as Navi Mumbai International Airport, Metro Expansion, and flyovers are being worked out to make the city people friendly.
- Amalgamation of cultures
Mumbai is one city in India, which is a melting point of cultures. Yash Chopra, the popular Bollywood director and producer, had said, “Once you start living in Mumbai, working in Mumbai, I don’t think you can live anywhere else.” Be it food, language, festivals or profession, Mumbai has a place for everyone.
- Options galore
Mumbai has different options available for one and all. So, from lower-income middle-income groups to grandiose apartments, one can choose from various property options in Mumbai.
- Renting versus buying
Those who live in Mumbai on rent can tell you how much it costs. It has been seen that in the case of renting if you buy a property in Mumbai, it can help you in the long run. If you calculate the rent accommodation and the buying model, you will notice, it’s better to make this one-time investment.
- Safety matters
Mumbai is safer as compared to most cities in India. As we all know this city never sleeps and women work till late at night. You would want to buy a property in Mumbai where your family feels safe.
- Status symbol
Buying a property in Mumbai, which is one of the costliest cities in Asia, is like having a flat on the moon. Of course, it would give a massive boost to your social status if you own a property in Mumbai.
- New projects
With the rapid industrial and commercial growth in Mumbai, several affordable new projects are coming up in both eastern and western part of Mumbai. The infrastructural growth in Mumbai has given a considerable boost to the real estate market in Mumbai, and therefore, several builders and developers are providing projects with better amenities in areas like Virar, Kandivali, and Andheri.
Investment is a risky proposition, but when the city is Mumbai, which has ample opportunities for growth and rate of return, one should not wait when it comes to buying a property in Mumbai.