Investment in an Upcoming Residential Project in Mumbai
When investing in an upcoming residential project in Mumbai, you need to take the following factors into consideration:
It is the one of the most important factors to consider because you wouldn’t want to choose a location where there is no infrastructure growth. At times, buyers opt for a not-so-developed location because they get the property at a low rate. But it is not recommended to compromise on the location, especially from an investment point of view. You will not get a good return on investment if you are choosing a property in an underdeveloped location.
Make sure that you are choosing a reliable real estate company when looking for an upcoming residential project in Mumbai. Not all developers can be trusted as far as quality construction is concerned. You need to shortlist few reputed names in the industry or ask for recommendations from your friends and family. When selecting a real estate company, you need to consider factors like, number of years they have been in this industry, projects they have completed, reviews from their clients and so on.
Third factor of importance is the capital gain that you are expecting from the investment. This is especially important when you are buying a 1 or 2BHK apartment in Mumbai for investment purposes. There are several metropolitan cities like Pune, Bangalore and Kolkata where properties offer high capital gains. But a city like Mumbai is very congested and its prime areas are nearing saturation point. Therefore, it is important to be careful in selecting an upcoming project in the city. There are several areas in the outskirts where properties are available at an affordable rate. Investors can check out the options in these areas for better investment prospects.