It is no less than a dream come true when you have already made up your mind to buy a brand new property in Mumbai. Consider yourself lucky enough when you have mustered up the courage to buy a property in the financial capital of the county. As per surveys, Mumbai is said to have the distinction of being one of the most expensive property markets in the world. If you are a first-time buyer of property in Mumbai, you will definitely need certain guidelines. Here’s what you need to know.
AIM AT THE CORRECT LOCALITY
As a property buyer, do ample study and come up with a list of exhaustive locations. Let me name certain good localities for you.
Nalasopara West
Dombivli East
Worli
Bandra
Virar East
Umroli
And the list continues, but I suggested the most remarkable ones. You may have better options, go for it. There is no stopping.
PROPERTY CAPACITIES
The range of the properties differ. Some of them may be closer to the main town and some may be in the interiors. Prices will differ accordingly. The core ranging of the properties may start from 10-25 lacs, 25-40 lacs and 40-55 lacs. Consider these budget slabs while buying a property. This will give you a brief idea. The prices may fluctuate depending on the brands and reputation of the developers.
THE BUILDER’S REPUTATION
For a new buyer, this remains as one of the greatest facets. If you are from a different city and actually, have no idea about the property market in Mumbai, then you must keep a track of the builder’s earlier records before you contact one for buying a new property. Since the central government has insisted the developers on providing with affordable housing to one and all, a lot of prominent developers are entering this market sector and providing value homes to buyers. So, make sure you have a verification regarding the builder’s goodwill in the market and of course, his demand goes hand in hand.
YOUR MONEY’S WORTH
Without even a second thought, buying a property or properties in Mumbai is always worth the price. No doubt about it. You are bound to get good returns on investment since the real estate market in Mumbai never fails to soar higher. Similarly, getting hold of a good builder can avail a lot of options for you. For example, the location of your property, it’s price as per the location.
PLANNING YOUR PURCHASE
We will surely not say that it is impossible to purchase a property in Mumbai, although some people believe that it is. However, it is also important that you plan a lot before buying one. Even if you cannot afford to buy a property for the prices are going like a shot with time, you always have the option of renting. Something is better than nothing. I am mentioning this because there are home loan schemes which you can apply for. Property for sale in Mumbai is no less than a purchase if you manage one at the heart of the city.
A 1BHK Apartment in Mumbai will cost no less than a crore, to be precise. If you can afford, then well and good, but if you certainly cannot, properties for rent in Mumbai are always available.