Today, owning a good property is a daunting task for people who are not even a decade old in starting their career. With the property prices soaring high everywhere, owning a property has become difficult for some and a far fetched dream for many. But one’s money surely seems worth it when luxury is offered in return. And that surely comes with a price, isn’t it? Newer properties have started coming up with lucrative offers, easier payment schemes and booking a property during construction is still a hit. In Mumbai, the financial capital of India, new residential projects in Borivali, Kandivali, Goregaon and other western suburbs, have seen a rise.
The property price has seen a rise not just in India, but worldwide too. These properties reflect luxe, convenience, state-of-the-art facilities and so much more! Let’s have a look at some of the highest property rates in the world.
New York, US
Property investment can seem a great deal in any of these cities if one has the buying power. Let’s look at Mumbai for example. If you are looking to buy a house for investment in 2014 and are not sure where you can earn the best returns then here’s a guide on where you should be investing your money. This will give you good returns over the next three-five years.
The Mumbai market was growing at a very slow rate in 2012 with prices rising just 2-7 per cent. Although the demand picked up in 2013. The demand is expected to pick up in 2014, mainly in the mid-end segment. The eastern suburbs of Mumbai (mainly Chembur, Kurla and Wadala) are expected to provide good returns. The prices are relatively cheaper and the area is booming. Similarly, western suburbs of Kandivali, Borivali, Jogeshwari and Goregaon have high to low property rates. Certain booming areas of these suburbs are a good investment option. New residential projects in Borivali & Kandivali are constantly coming up, and to book one during construction is a good investment option too.
Many homebuyers and investors have predetermined preferences as to which type of new projects would be ideal. The projects can be classified into three types: new residential Projects, upcoming projects, pre launch projects, under construction projects, ongoing projects and ready possession projects. This categorization is usually done taking into account the timeframe of completion, progress of work and the current status of every township project.
Borivali is one of the top five areas in Mumbai that is observing exponential growth in real estate developments. There are several Borivali projects by many real estate companies of national and regional repute. You have the luxury to choose from thousands of properties and also in neighbourhood areas too. The luxury to choose from a variety of options is something that you might not get if you choose prime locations. Plus, you’ll end up paying a lot more than you can afford. At the same cost, owning a property that’s much bigger is only possible in areas like Borivali. While Borivali’s new projects may appear to be very far from Mumbai central areas, but the amazing skyline and booming neighbourhood will definitely impress you. With almost every Borivali & Kandivali’s new project being large enough to be referred to as a township, this is by far the best investment option currently. It has easy connection to the Western Expressway will be a benefit since it connects it with other regions of the central zone as well as business hubs in the island city.
Joe Bill is a property consultant and has worked with many big names from the real estate business. ‘New residential projects in Borivali’ is a recent project undertaken by Joe where he promotes and guides aspiring house owners about the benefits of investing in Borivali, Mumbai. Joe’s hobbies are to write poetry on his personal blog.