Mumbai is probably the most expensive real estate market in India. The City is a mix of luxury and glamour, be it its beaches, commercial buildings or residential apartments. From studio flats to 1/2/3/4 BHK or penthouses, Mumbai has all options available for the real estate buyer. Tilted towards the expensive side most projects are in the higher range. Apart from the rising demand the Government policies have made the real estate market in Mumbai expensive.

The high FSI of around 4.5 in Mumbai has shifted the city to its outskirts, owing to the space constraints within the city. Redevelopment in the city is costly and time taking, even if the FSI is reduced. Hence one needs to look for fresh projects in the city.  The cities rental market is also expensive and one can plan and buy property rather than pay the high rents. Mumbai is congested and a 1 BHK apartment may be affordable but not suitable when it comes to space. One can invest in larger flats in Mumbai and enjoy the spaciousness. 

Courtesy: Net

Mumbai is an end user market as the property prices are at an all time high. An inventory of 4 BHK flats for sale in Mumbai can be found in Kandiwali, Ghatkopar, Malad and Kanjumarg. This is mostly the on the eastern and western sides of Mumbai. The city is an archipelago of islands and is viable for vertical development, which in turn will also enhance the infrastructure and basic facilities like water supply in the city. Some of the projects that one can look for buying 4 BHK apartments are:

•  Runwal Bliss, Kanjurmarg (East)
• Rebrisk Ibis, Kandiwali (West)
• Wadhwa Panoroma, Ghatkopar (West)
• Kalapataru Aura, Ghatkopar (West)
• Omkar Alta Monte, Malad (East)

The projects speak of luxury and are built to offer space and utility. Swimming pools, fitness centers, green areas, children play area are some of the amenities being offered by the builders. The projects are under construction and with a relevant financial plan; one can look up and buy a spacious apartment in Mumbai.

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Are you looking for 2 BHK flats in Mumbai? Well, there are different locations where you can spot luxurious as well as affordable options. Owing to the escalating property prices, most home buyers are in search for small sized units, particularly 2 BHK flats. In the year 2013, developers launched over 7000 residential unit in Mumbai due to the increasing demand for properties. Since Mumbai real estate market is pretty expensive for the middle income buyers, developers are providing flats in the suburban areas like Thane and Navi Mumbai at reasonable rates. 

Affordable residential units

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Demand is very high for small sized units like 1 BHK and 2 BHK flats in Panvel and Kamothe in Navi Mumbai. The city has become one of the most preferred locations as far as property investment in Navi Mumbai is concerned. From striking real estate options to organized infrastructure and basic amenities, there are several factors owing to which people consider buying an apartment in this area. 

In the past few years, Kamothe and Panvel have seen an increase in demand for small sized housing units. When compared to property prices in other suburbs, apartments are available at much cheaper price in Navi Mumbai. This factor has gained the attention of a lot of middle income homebuyers to find options that suit their budget in Kamothe and Panvel. If you want to purchase a 2 BHK flat in Kamothe or Panvel, it may cost you anywhere between Rs. 80 lakh to Rs. 90 lakh.

Property developers in the city are also planning to come up with affordable 2 BHK units in locations such as Vashi that is near Mumbai-Pune Expressway. Another area in Navi Mumbai where you can spot affordable yet modern 2 BHK flats is Kalamboli. Several prominent builders are launching new residential projects in this location, fulfilling the high demand for 2 BHK flats for sale in Mumbai. Kalamboli is popular for its iron and steel market in the country. It is developing at a very fast pace, providing all types of basic amenities like schools, hospitals, banks and markets to property buyers. 

Experts state that the increase in demand as well as sale of smaller units is undoubtedly a win-win situation for developers and buyers. Buyers get to own a property which fits their budget and builders don’t have to face a loss because they don’t have to bring down the existing market prices.

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A lot of people prefer investing in property today mainly because it is considered as one of the lucrative investments and there aren’t any risks involved. Well, the property rates are already sky high and no wonder they are on a rise constantly. In Mumbai, the property prices have witnessed an enormous increase compared to a few years back. 

Needles to say, affordability of a house is subject to the amount of money you have. However, it also depends largely on the area the property is located in. As far as Mumbai is concerned, there is a vast range of flats that comes in a range of prices. A flat in the Mumbai city will surely be much more expensive than its counterpart in the suburban areas. 

Courtesy: Net

 

If your family has more members in it, you should look for better accommodation. An ideal flat size for a family of 6 members will be a 4 BHK flat. Based on your income, you may or may not be able to own the same. Today, a 4 BHK residential apartments in Mumbai can be anywhere around Rs. 3 crores in Thane or Kandavali, whereas Rs. 19 crores in Malabar Hill. However, if you choose to buy a 4 BHK flat in the suburbs, you may possibly buy for a less cost. Again, you should consider the different bills and various other payments necessary to live in a flat in a suburb. 

Not all families can afford 4 BHK residential flats in Mumbai as their income level is not that high. In such situations, one can always opt for home loans. These loans help you purchase a house without procuring the whole amount all at once. Banks provide you with the facility of EMIs (Equated Monthly Installments). Fortunately, to bring about growth and development of the country, the RBI has cut down the repo rate for home loans in the recent times, eventually motivating more and more people to invest in property. If you can manage bank loans properly, you can certainly take full advantage of these loans.

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The city of dreams, Mumbai, has been in constant demand when compared to other cities of India. Millions of people migrate to Mumbai each year and hence there is a steady growth as far as property and land rates in Mumbai are concerned. On one side, the prices of properties are increasing steadily, while on the other hand, there is a lack in supply of land in spite of the demand being high. This acute land shortage has resulted in quoting enormous prices by developers and builders for their lands/assets. 

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In fact, in the recent times, a 25 acre land in the suburbs of Mumbai was sold at INR 1155 crore in an auction! Even a few years ago, in 2010, a six acre plot in the Wadala region was sold at INR 4000 crore, again in an auction. 

With about 438 square kilometer land mass, the city of Mumbai has a buildable area of about 200 square km. This is really less keeping in mind the fact that more than 12 million people are living in the city. Mumbai, being densely populated, with about 40000 people living in one square km, there is a need for more than two lakh homes per year. But, the private real estate builders and developers find it difficult to offer over 25000 houses per year. Since the supply fails to meet the demand, property rates in Mumbai has seen a huge increase. 

The government bodies have to interfere in order to bring about a dramatic change to the current situation. A lot of builders are stressing on converting the residential areas to commercial properties in the city. Well, this has helped them gain huge profits; but, the land in Mumbai that is assigned for the purpose of housing projects tends to suffer consistently. To solve this imbalance, the real estate developers who are involved in launching residential projects must make effective use of the land available and focus on constructing quality apartments by means of pooling in the extra land. 

Mumbai is in need of effective residential development projects. Effective planning and skyscrapers is the solution for the increasing demand.

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Mumbai is a well liked city in India. It is, in fact, one of the most duly inhabited cities with a vast metropolitan area. Besides these merits, Mumbai is a well culture town as well. Property development in the city has been further fuelled by the rapid development of the upper middle class, middle class and high income class of the city.

Plots for sale in Mumbai are readily accessible for a number of specifications, budgets, sizes and amenities. Regardless of what the budget is, the city has some kind of property to offer, catering to buyer’s requirements. 

The value of real estate is rising in a large measure in Mumbai and buying a plot, be it for official, residential or industrial purpose, has become a dream of every person living in the city. The real estate property in Mumbai is considered as the largest and significant property area in the whole of India. Real estate prices in Mumbai are certainly high, still people from across the country are interested in purchasing their dream home in the financial capital of the country. 

Courtesy: Net

If you are looking for residential plots for sale in Mumbai, you can take help from the extensive residential web portals. Well, these online portals provide you with loads of information on the property location coupled with suitable upcoming projects, specifications and images. You can also get to know the information on home loans and home insurance so that you can plan your budget and buy the plots accordingly. Thus, these web portals offer you complete information on the various residential projects in and around Mumbai.  

Residential property in Mumbai primarily comprises of residential apartments with world class amenities like helipads, swimming pools, safe parking lots, playgrounds, round the clock security, high speed lifts and much more. Besides, these housing projects are carefully constructed to be in close proximity with schools, colleges, hospitals, offices, shopping malls, colleges, and the like. 

All you have to do is find a reliable real estate agent or company and communicate your needs and budget clearly. Within a short period of time, your dream house will be all yours!

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