Infrastructure is a matter of national pride for countries across the world. Roadways, waterways, railways, airports, ports, etc have all seen a massive shift in the sector and are moving towards creation of world class facilities across the country. The smart cities initiatives have proved to be movers and shakers in the sector across the country. Owing to India’s need and thirst for fast paced development, the infrastructure sector has seen a massive boom, given its crucial role in the development of the country. Urbanisation and increasing involvement of foreign investments in the field have supported the boom.
The growth of manufacturing sectors across the industry has led to a massive demand for infrastructure development and improvements as the existing one falls inadequate in meeting their tremendously increasing infrastructure demand. Increased transportation requirement due to increased manufacturing has also led to a spurred increase in demand and construction transportation infrastructure. To match with people’s opulent lifestyles, real estate developers have to now consider these factors in their upcoming residential projects in Mumbai. The real estate sector in India is expected to reach a market size of $1 trillion by 2030 from $120 billion in 2017. It will contribute to 13% of the country’s GDP by 2025. The sector will have more NRI investments in the future and bring more people from rural places for education and career opportunities to look for residential property in Mumbai. This will change the scenario of real estate in Mumbai and encourage real estate developers to create rental flats, 1BHK and 2BHK flats, and student accommodations.
Real estate is considered one of the safest sectors to invest in and will grant you better returns in the long run. Developers in Mumbai have found a way to earn a fortune through this industry. The way we think of investing in gold to secure our future, similarly, real estate is the ideal investment because of good returns on investment. Developers and builders in Mumbai know that the most significant benefit of owning real estate property is that it generates regular rental income with complete certainty. You are assured a stable cash flow and regular monthly income that only increases over time.
At the end of the day, real estate developers want to attract clients to their residential projects in Mumbai. Mumbai is all about art, history, culture, food, theatre, cinema, nightlife, and a lot more. This has raised the level of the real estate sector in Mumbai. Industrialists, CEOs, Entrepreneurs, etc are now considering the real estate in Mumbai as a monopoly with the stability and lack of market fluctuations. The high capital appreciation that the real estate market offers versus other assets is what makes people confident in investing even in 1 BHK and 2 BHK flats across the city. The future of Mumbai’s real estate is defined by more upgraded amenities, lifestyle facilities and that is why the major market players will be entrepreneurs, students and aspirants seeking fresher lifestyle opportunities and NRIs who want to build a secure future and capital not only for themselves but also for their future generations
Property in Mumbai is not hard to find, given you know what you need. From Luxury Properties in Mumbai to 2bhk flats, This city has space for everybody. Mumbai, the country’s biggest real estate market is witnessing a rise in the demand for 2 bhk flats and 1 bhk flats, forming up to 70% of the total demand in the quarter ended June, and translating to a 10% sequential increase and 18% on-year increase in demand for mid-size and larger homes. Navi Mumbai also saw a rise in demand due to affordable rates and excellent connectivity. Despite the lockdown and restrictions on construction-related activities, Navi Mumbai registered a marginal 0.7% growth in property prices during the quarter ended in June 2021.
Further, as economic and construction activities started to resume from mid-June, the traction in the market is expected to rebound to a normal level thereby increasing residential properties in Mumbai and demand in the city. A rising future in infrastructure investment is seen in NRI real estate investments. In the future, we can expect the demand for affordable housing to increase among NRIs and millennials owing to government schemes and the trend of remote working. Owning properties in the commercial capital of the country is an extremely irresistible offer. Non-resident Indians usually purchase a property in the country with the primary motive to either invest or use it for rental purposes. However, with the virus outbreak and resultant lockdown, many NRIs have realized the essence of having a house in their home country to settle in the future. Due to the safety aspect as India was one of least hit companies in the first wave and later also because the government announced many policies and measures that made home-buying more affordable. The weakening of the rupee added another shot in the arm for NRI buyers. The pandemic, thus, made home-buying both a lucrative and sentimental option for NRIs. They typically prefer houses which are located close to amenities like schools, hospitals, supermarkets, etc.
Properties in Mumbaiare also constructed with all the security features in mind. Safety is paramount and gated communities are more in demand not just by NRIs but even by non-NRIs.There has been a great demand from NRIs who are looking for properties with significant green residential projects for themselves and their families. The excellent social infrastructure in real estate properties in Mumbai will continue to attract these buyers in the future.
So whether it is a residential properties in Mumbai or a commercial property, all are safe in Mumbai. Real estate in Mumbai offers you a varied range of homes such as luxury homes, villas, penthouses, luxury apartments, etc. Along with residential property, commercial property in Mumbai is also a sought after option for businesses to set up their offices. Mumbai is a city that can give you the best living experience. It has every amenity and facility to help you lead a peaceful life.NRIs prefer larger homes in integrated townships, which offer lifestyle features similar to what they have experienced while being expatriates in a foreign country. Investors now prioritise sustainable assets, making real estate developers look into renewable energy. The future is all about putting environmental considerations at the forefront and resorting to green infrastructure. For NRIs seeking to invest in one of the world’s most exciting and vibrant housing markets, Mumbai has come calling at last.