Mumbai, earlier known as Bombay is touted to be the financial capital of India. It covers a whopping area of 600 sq. kms which makes it equivalent to Tokyo and Seoul.Realty market in Mumbai captures a handsome traction
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Realty market in Mumbai captures a handsome traction
Mumbai, earlier known as Bombay is touted to be the financial capital of India. It covers a whopping area of 600 sq. kms which makes it equivalent to Tokyo and Seoul. The city accommodates a huge population of over 21 million and is the sixth highest city in terms of population. The real estate market in Mumbai has grown at a scorching pace over the past decades. It continues to attract a good number of investment not only from India but a lot of traction is also seen among the NRIs.
Let's have a look of NRI investment in Mumbai.
Mumbai has always attracted the NRI diaspora who are looking for lucrative real estate investment opportunities. Residential Property in Mumbai Backed by rigorous infrastructure development, the western belt continues to attract NRI's for great investment opportunities. Construction of bridges and highways is under way and once functional, it is envisaged to reduce the travel time between Bandra to Borivali. The old Mahada colonies are also in the redevelopment spree under SRA. The proposed Mumbai- Ahmedabad-Mehsana-Jaipur-Delhi corridor has unlocked the value of the highway, thus increasing the number of NRI investment in Mumbai.
Wadalba has also emerged as a lucrative destination for NRI investment in Mumbai. The place is now being developed as a Central Business District (CBD) which has suddenly unlocked its value. upcoming residential projects in Mumbai A new freeway connecting GPO to Chembur with an exit at Wadala makes it a great bet for early investors. The development of a Mono Rail line is envisaged to further enhance the connectivity. On the back of the robust connectivity, the place appears as a hot investment destination.
A progressive development has been seen in the areas which were earlier considered as outskirts such as Panvel and Dombivali. They are now emerging as new townships and appears as a great bet for NRI investment in Mumbai. These areas are reasonably affordable in comparison to other parts of Mumbai and are value for money. Panvel & Kharhgar has lured a good amount of traction on the
back of new international airport.
luxury flats in Mumbai A slew of infrastructure developments such as Panveltaloja metro line, widening of the Bombay Pune expressway, KalyanShilphata-space taloja bypass and AiroliKalyanShilphata road has increased the value of the property. It is also envisaged to boost the movement of industrial raw materials, finished goods, employment opportunities and overall wealth.