Mumbai Real Estate – Some Useful Insights

By: Daniel Marshel Posted on: 2008-07-29 Downloads: 17 ** Print Article ** ** Copy Article ** Please Rate this Article 5 out of 54 out of 53 out of 52 out of 51 out of 5  Not yet Rated

Article Summary: With the world’s second largest population and thriving industrial growth, India has emerged as the region’s chief economic power. One of the greatest contributors to the booming Indian economy has been the Indian IT sector the development of which is perceptible in all business sectors in India not least the India property market.

With the world’s second largest population and thriving industrial growth, India has emerged as the region’s chief economic power. One of the greatest contributors to the booming Indian economy has been the Indian IT sector the development of which is perceptible in all business sectors in India not least the India property market. The development has drawn the attention of property investors from around the world who view the Indian property market, more specifically Mumbai property market, as a haven for property investment. Mumbai being India’s commercial capital has benefited the most from the Indian property boom and has won the status of investors’ paradise.

The reason why Mumbai property has enjoyed such a great boom is simple: Mumbai real estate market offers the investors heavy returns in very short spans of time. As the city’s population continues to grow by folds, the living space appears to be shrinking, causing property prices to reach rocketing heights. Home to the world’s largest film industry among many other wonderful attractions, Mumbai is a dream destination for nearly all the Indians. Indians from other cities head to Mumbai also in search of better career opportunities. This unstoppable surge in the city’s population is one factor that ensures high returns on property investment in Mumbai. The commercial growth of the city has also encouraged foreign investment having a very positive effect on Mumbai real estate.

Since property in Mumbai’s major posh areas like Bandra, Juhu has become simply out of reach for middle classes, developers are now focusing on new residential developments in Mumbai’s suburbs like Borivali, Thane, Goregaon, Andheri, Dadar, Bandra and Parel. Investors are also viewing Navi Mumbai as a great option as the property prices there are constantly on the rise. Many new commercial developments in Mumbai are also underway to bridge the existing demand/supply gap. Commonly referred to as ‘New York of India’, Mumbai offers a chance to all classes to invest in its property market. The people with a limited budget can buy apartments in Mumbai’s cheaper areas and earn a regular handsome income by renting them. While the people with no financial constraints may want to go for large villas/bungalows in Mumbai.

The Indian government has also taken some major steps towards channeling foreign investment into Mumbai’s commercial property. One of these steps is the easing of the strict Foreign Direct Investment Regime which has proved to be a great support for foreign investors. As a result, many new businesses have come forward to invest in Mumbai’s commercial property and the demand is still on the increase.

Keeping all these factors in mind, it’s easy to assert that the demand for Mumbai property market, both residential and commercial, will only increase with the passage of time and high returns on investment in Mumbai real estate are guaranteed.

Article Source: http://www.upublish.info

About the Author:
Daniel Marshel
About The Author:
Daniel Marshell is senior real estate consultant associated with Better Homes India, a leading real estate firm in Mumbai, India. He has more than 25 years of first hand experience of working in Mumbai Real Estate Market. His firm Better Homes India also offers online real estate services in Mumbai. For more information please visit www.bhomes.com/india