Q: Flats in Mumbai are a phenomenal asset. But the significance of these flats mostly depend on the most economically inclined locations in the city. Many magnificent dwelling structures are being proposed and will soon be raised in such locations with astonishing Returns On Investment.
Some of the reputed developments in this region are being led by The Lodha Group of Mumbai. They are developing not only The Trump Tower and The World Tower, but also a splendidly landscaped space called The Park. This developments is one to keep a keen eye out on.
South Mumbai is soon to observe a major breakthrough in real estate developments by one of Indias finest real estate developers. For more information stay connected with http://bit.ly/1x8BT0a
Apart from being an excellent neighborhood to buy a house in, Worli and Lower Parel, or the land between them, christened Upper Worli by the passionate real estate developers, are easily a blind choice. According to the Knight Frank Report, expected returns are a growth of 47% in market lease rates, a 63% growth in capital gain rates, and a y-o-y growth of 19% for the owners of the space.
If one were to pick any locality in the city from about a decade ago, and compare the prices to what they are now, the figures would be nothing less than shocking. For example, an apartment in Beau Monde, new development in Prabhadevi, opened at a booking amount of just Rs. 7000/sq-ft in 2008. Today, the same apartment there would go for nothing under Rs. 65000/sq-ft. That is an tentative increase.
While property of any kind, whether to use it as a commercial or residential, is purchased for one of two reasons: to use, or to lease out. Even if one does belong to the former category, putting in a significant amount of money is only wise if one is sure of steady returns, even if it is in the immaterial form of rising assessment. To buy property is a safe and sound investment, something stable and tangible.
It is no doubt that Mumbai has some of the most expensive real estate in the country. Rates have been plunge stable over the last few years, moving on to more accessible, central grassland of the city Worli and Lower Parel, Bandra-Kurla Complex, and Andheri. While most of these localities are challenging to invest in due to their sky-high cost, if one was to take expert opinion, this is perhaps the most rewarding space in the country.