Mumbai, one of the prime cities, in terms of population, among the four metropolitan cities, keeps expanding with each day. The Mumbai suburbs and the Mumbai city has seen many changes with newer constructions over time both big and small, tall and short. Though close to 40 years now, one cannot deny that Navi Mumbai has been a planned township by the Government of Maharashtra to manage the immigrants into the city. The need to accommodate every individual and to provide a roof over their heads has been reflecting in the real estate sector with its housing projects. Projects that are big and small, economical and posh are listed each day in various property melas or fairs and in advertisements that carry the information of properties for sale in MUMBAI. The real estate sector doesn’t limit itself to the selling of houses or apartments but also handle properties that can be rented for a period. Flat for rent in Mumbai are a common lookup keyword in the search engines by a crowd of people who are thronging the city for jobs, education and for personal needs.
Prime areas of property sale or expansion in Mumbai
The main areas that have a lot of properties for sale are Navi Mumbai, Thane and Mulund. It is acknowledged that the Mumbai suburbs have grown rapidly because of the various properties in Mumbai that have specifically come here owing to greater economic or industrial growth
The ultimate expansion of Navi Mumbai:
Below are the reasons why Navi Mumbai is looked up for properties:
- The clearance to have an airport in Navi Mumbai has set the prices of the properties in and around their area.
- The farmers have been selling out uncultivated lands turning the real estate agents into business tycoons in these areas. It is said that there is so much of demand and new found flourish among the people residing in these areas.
- Navi Mumbai is expected to match the demand of properties in terms of houses for sale or flats for rent because of the land area that is available.
- The high span of acres of land is also a reason why Navi Mumbai is also in demand for the IT companies to expand their horizons. Office space for rent is available and is cheap compared to other parts of Mumbai.
- One can imagine the demand for properties for sale in Navi Mumbai or flats for rent in the area if the IT companies are going to put their shelters here. The IT company crowd will certainly boost the real estate market in this sub-urban area of Mumbai.
South Mumbai – A colonial favorite: Because of the features of the locality in South Mumbai like serenity, greenery and less pollution, it is also one of the most sought after places for bungalows and independent house properties for sale. More reasons to still seek South Mumbai are:
- Many celebrities are said to be located in South Mumbai and with the Colaba-Seepz Metro link, the properties in South Mumbai are sure to be the hot selling piece of cake for the crowd who want to be in a calmer and less polluted area.
- Not to forget that Old Bombay still houses legendary constructions and there are talks about the new constructions across the Marine Drive and the coastline.
- The scenic beauty of the sea would be welcome sight for people who want to be located very near to the sea. The properties that are anticipated to come up will surely evoke the interest of buyers but the only con would be the price of the property.
Central and Central-East Mumbai – Thriving bright: A new found favorite and one cannot be ignorant of the fact that the beauty of Central Mumbai has been enhanced by the tall apartments and the residential townships of Powai, Mulund, Sion and similar places. There’s more that is contributing to the property expansion.
- The Central East part of Mumbai is still extending hands of welcome for property buyers as it continues to see new projects, resale of earlier properties or reconstructed flat sale.
- Mulund among other places has been housing several new projects and is high in demand with educational institutions, malls that are nearby.
- Its easy access to industrial sectors using the Vikhroli Link road has also opened doors for working people who are seeking flats for rent in these areas.
- Places like Bhandup, Mulund are close to Thane, another part of Mumbai which is a home for IT offices and industries and this has certainly raised their probabilities being the residential areas that is looked for properties for sale or flats for rent.
What is the future?
Major builders who have a great foothold in Mumbai. The rental prices have been very stable off-late in Mumbai and a clear positive factor that the demand to lookup for flats for rent would continue even though there is decline in the real estate market. Buyers are looking for ready-to-occupy projects as the real estate decline also has affected the construction phase of some projects. Despite all of the reasons that have contributed to a lower sales in the real estate market, the demand is still steady on and the sellers are expected to adjust their strategies to boost property sale in Mumbai.