In case you are looking for a good investment option with viable returns, it will do you good to buy a property in Mumbai for the way in which real estate Mumbai as well as rent prices have only soared in the past years, over here. If a big investment is what you are planning, you can consider buying a duplex in south Mumbai. For those that are uninitiated, a duplex house is a residential building, which has been divided to look akin to two apartments thus affording greater space in your home. South Mumbai is one of the most posh localities in India and property prices are not likely to decrease around here in recent times. If you are new to the world of buying property in Mumbai, it is necessary that you carry out some consultation with experts for this is going to be quite a handsome investment. The expert real estate developers in Mumbai will help you navigate the process of choosing the best property without any inconvenience.
There are several reasons why buying a duplex apartmentin Mumbai is considered a good investment and some of these reasons have been discussed at length below.
The emergent tax benefits
With the onslaught of the latest Union Budget, much of the ambiguities that existed within the realm of real estate investment taxation has been cleared, this is to say that the policies of the government in relation to this aspect has become transparent than ever before. Such a thing means that it will be easier for you to get tax clearance from government on your duplex apartment because of the pass through status that this industry now enjoys. Such a thing also indicates that income from such real estate investment taxation will be taxed on the hands of the investors, making your job easier for you in comparison. You must trust your real estate developersto guide you through the process of tax clearance availing your benefits.
Esteemed property in one of the best locations
You may also consider buying that duplex apartment in South Mumbai because of other reasons that have not to do with finance directly. This is to say that you must be made aware of the fact that Mumbai alone contributes to six percent of the GDP in the country. In addition, it is not only an industrial but also a cultural hub of the country. The area spanning South Mumbai is one of the best maintained, beautified, well connected and convenient in the country and this contributes to the soaring price of property in Mumbai and especially this particular region of South. Having duplex flats in Mumbai not only makes it a rather esteemed property but also constitutes as a mark of affluence and prestige in the present day scheme of things.
In speaking of building equity, it is first important that you are made to understand that equity actually means the amount of your home that you already own. This is to say that if you have bought your house with a finance loan, which is the most likely scenario for most of us when buying a duplex apartment in Mumbai; you have to subtract the amount you have already paid back from the actual cost of the house. Doing so will give you the equity that you have been able to build on the duplex house that you own. After building equity, you will realize that you have one of the most valuable assets in the form of this duplex house that you can use in the future for multiple financial needs.
Every other benefit aside, one of the most crucial advantages of owning duplex flats in Mumbai is the rental income that you are eligible to earn from the property. Settlement and livelihood in Mumbai is quite expensive, most of all in South Mumbai and therefore, if you are someone who is not looking to stay here forever or already own a second property in Mumbai, it is likely that you will earn lakhs every month from your plush duplex flats in Mumbai. This rental income cannot only be used to pay off your financial loan for the duplex but is also likely to serve many other financial purposes.