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Tata Capital > Blog > Loan for Home > 5 Things You Need to Know About the Mumbai Luxury Housing Market

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5 Things You Need to Know About the Mumbai Luxury Housing Market

5 Things You Need to Know About the Mumbai Luxury Housing Market

Mumbai is known as the ‘city that never sleeps’. And rightly so! The city is the business and entertainment hub of the country and witnesses an influx of people every year. Especially in the luxury housing market, which has witnessed a steady growth over the years due to its premium offerings.

Unfortunately, the property prices in the market are also equally steep, making the home buying process an uphill battle. So, if you've been on the fence about whether or not to purchase a luxury housing unit, we've got you covered!

Here are a few things you should consider while hunting for luxurious apartments in Mumbai.

1. Location is key

When it comes to the luxury housing of Mumbai, the location is significant. That’s because an upscale neighbourhood and central location are essential for a property to be classified as ‘luxurious’. So, make sure that your address belongs to a high scale locality that is well connected to all the social, entertainment and lifestyle hubs of this happening city.

2. Project density

If you're a resident of Mumbai, you’d be familiar with the issue of space in the city. That’s because the place has a vast population that keeps growing every year. Hence, if you are searching for a luxury home, project density is something you must know about.

If the project is overcrowded, it cannot be classified as a luxury home. Typically, a one-acre residential project that houses 60 families or less is the ideal choice.

Additional Read:  Apartments in Mumbai With Gym, Clubhouse & Pool

3. Appreciation value

When investing in real estate, always think about the future and invest for the long term. Thus, you must think about your future lifestyle needs and consider factors like the scope of infrastructure development and capital appreciation. Remember, a luxury home in Mumbai is bound to witness tremendous capital appreciation and provide you with impeccable returns over the years. So, choose wisely!

4. Luxury amenities

If you are looking for ultimate luxury in the Mumbai housing market, you will not be disappointed. From beautiful architecture to impressive interior spaces and state-of-the-art facilities, you will find homes that can easily elevate your standard of living. Moreover, you can also easily qualify for a home loan to afford a luxurious house in Mumbai.

Additional Read: List of Apartments Having Best 5BHK Flats in Mumbai

5. Pictures can be deceiving

This is a no brainer! While house hunting, you should never rely on photos. Yet, most homebuyers dismiss a majority of homes by simply viewing pictures on the internet. However, making a perception based on pictures is rarely a good idea. You might be able to appreciate the actual value of a luxury property by visiting the location personally.

To sum up

From walk-in closets to swimming pools and home gyms, luxury homes are what dreams are made of! Thus, if you are looking for a luxury house in Mumbai, Tata Capital’s premium home loan in Mumbai can come to your aid. Our easy repayment tenures, relaxed home loan eligibility criteria and competitive interest rates can make your dream of owning a luxury home a reality.

Connect with us for more about our home loans.

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