Step-by-step Guide To Buying Apartments In Mumbai
Apartments in Mumbai are available for a myriad of sizes
, specifications, and budgets. No matter what your budget is, there is at least one property that meets your requirements. Residential property in Mumbai is one of the fastest appreciating assets that you can invest in. This city is regarded as the financial capital of India and it is one of the most rapidly growing cities in the whole of Asia. The property growth in this city has been fuelled by a fast growing upper middle class and high-income class in the city.
However, one needs to exercise caution while investing in a property in Mumbai. There have been cases where investors have been cheated. The only way to address this issue is to invest in apartments developed by reputable real estate firms.
When you start looking for apartments in Mumbai, there are a few basic things that you need to consider. This article elucidates a few of these:
1. Type of apartment required: You need to begin by understanding your space requirements. The options include 1BHK, 2BHK, 3BHK, 4BHK, penthouses, duplex apartments, and condominiums. If you intend to live in the apartment, it is advisable to begin your search with a 2BHK apartment and upward as a 1BHK might feel cramped a few years later. There is a large supply of 2BHK and 3 BHK apartments in Mumbai.
2. Choice of locality: Based on your workplace and other influencing factors, you and your spouse need to sit down and zero in on a locality that suits your budget as well as lifestyle. For instance, if you are working in the Bandra Kurla Complex you could consider investing in a home in the Western Suburbs for easy connectivity. This research sometimes takes a few weeks but is certainly worth it.
3. Lifestyle requirements: There are two options that you have: you could either choose an apartment complex with all the latest amenities or choose buy a home that is close to these public amenities. Experts opine that the previous option is better as it gives you round-the-clock access to the best amenities. A gated community is always a better option as it provides security and parking space.
4.Choosing a developer: Most people look at projects without bothering much about who the developer is. However, this is the wrong approach. The best way is to identify the most reputable developer and choose from one of their projects. This ensures that no matter which residential property Mumbai you choose, you will get the best value for money. You can expect easy financing options from financial institutions when you partner with a reputable real estate developer.
These are a few pointers that will help you make an informed choice when looking for apartments in Mumbai.
by: Rajesh Chopade
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