Mumbai has been a commercial centre in the country for decades now. Luring in international brands, multinational companies, and all kinds of global businesses, the metropolitan city has made way to spread its wings wider than ever, literally. Expanding to the outskirts and surrounding areas, today the real estate companies in Mumbai are coming up with new projects in these places at par with the cosmopolitan living, style and infrastructure of the city of dreams. In fact, most of the newer residential and commercial constructions today have all the modern day amenities one could hope for, in addition to smart design that save space and money for the investors.
The real estate market in Mumbai has witnessed quite a few new commercial complexes springing up. And while there is a constant inflow of international businesses and local ventures, the supply of commercial space in the city has surpassed the demand in some areas. There are a few factors like location, price, locality, business potential, target market, etc, that also play a major role in this conclusion, but this has resulted in a major shift in focus for the prominent real estate developers of the city. While until about a few years these real estate companies and realtors were primarily concentrating on commercial space development, now there are a number of residential space developments on the way.
All these developments and expansion in infrastructure and real estate market made by the real estate companies paved the way for average investors that could not afford to buy even a 2BHK flat in the city to now be able to become active investors in affordable and suitable properties around the city. Considering the rate at which Mumbai is expanding, more and more people are opting to invest in places like Borivali, Ghatkopar, Goregaon, Powai, Dahisar, Navi Mumbai, Vashi, Virar, etc, for future prospects. Even NRIs prefer to invest in properties on the outskirts of the city as the investment is less and leasing them is comparatively easier.
Real estate companies in Mumbai know how to survive in a developed and competitive market. This translates into some of them offering great value, prices, and special discounts for the benefit of the average investor. For example, since many Hindus do not buy property during the two to four weeks of pitrupaksh or during the monsoon, and prefer to wait until the festive season to invest, smart real estate developers may offer special monsoon discount. These discounts may vary from company to company, and mostly range between 10 to 20%. To top such special offers, even banks provide special discounts on home loans during the monsoon.
