Buying Property in Mumbai - Home Loan Blog - Tata Capital

Buying Property in Mumbai Outskirts

Mar 08, 2017

Mumbai, the country's financial hub, is one of the best cities to invest in real estate. But with the scarcity of developable land within the city itself, Mumbai outskirts are being developed at a faster speed and may even offer better facilities. Those who are looking to buy property in Mumbai should look at projects outside the city and here's why.

Better opportunities for investors: Since the realty prices are skyrocketing in Mumbai, the middle class is seeking something that's easily affordable and the suburban real estate projects are just the right thing. Hence, investors and builders have nothing to worry about - the demand from buyers ramps up at a fast pace as they can lease the property in Mumbai sooner.

Lower expenses: The total cost of property units at upcoming suburban areas is comparatively lower than within the city. Since the land is cheaper, the lower property rates can be maintained easily to find more buyers. Such property in Mumbai includes the eastern outskirts around Thane and Navi Mumbai.

Increased connectivity: With the realty development in suburban areas of a city, infrastructure development is next in line to follow, leading to improved connectivity. This connectivity and new-age infrastructure further gives a nudge to the demand as well as the value of property. Mulund, Ghatkopar, Kanjurmarg and Vikhroli are some places that have seen great appreciation on property in Mumbai, because of their connectivity with Powai, Bandra Kurla Complex (BKC) and city center.

Investing in property, be it within the city or on the outskirts, requires financial planning and it's important that you set an investment goal. You can easily avail a home loan to buy property in Mumbai from a financial institution that helps you fund your purchase.