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Planning To Buy a Property in Mumbai? Here’s What You Need to Know

Planning To Buy a Property in Mumbai
No doubt, a property in Mumbai is sure to cost you a fortune. However, spending your time, moving around the least known locations in the city would help you find comparatively less expensive accommodations.

The current property rates in the city have broken all records, and the graph is only moving higher in the days to come. But, that’s not stopping home buyers from looking for a brand new space in the city. According to experts, no matter where in Mumbai you plan to invest, you are sure to get the best returns. The statement alone is enough to prove the credibility of properties in and around the city of dreams.
However, that doesn’t mean a randomly picked location is best suited for your desired purpose. Are you planning to buy a home or an industrial space? Interestingly, making a selection is easy, as Mumbai has an efficiently planned infrastructure with residential complexes and industrial hubs rightly segregated.

Commercial Properties
Take for instance places like Andheri, Bandra and Powai that are known to house some of the top multinational companies in India. These locations have dedicated hubs meant for commercial projects. So, if you intend to buy an industrial property in Mumbai, one of the above-listed places would be a good option.

Residential Properties
Some of the top residential complexes can be found at Colaba, Lower Parel, Worli and Dadar. From a tiny 250 sq. ft. single room home to a lavishly designed multi-room apartment, one can easily find the perfect permanent residence in one of these locations.
However, if you are looking for an affordable option, you may want to have a look at the newly constructed residential spots in Navi Mumbai (formally known as New Bombay). Several ongoing residential projects are being worked upon across the Vashi-New Panvel stretch. From 1BHK flats to multi-storey row houses, you can find them all.
How to Start the Hunt?
If a commercial space is something that’s on your mind, chances are you may be dealing with a property that’s worth more than a crore. In this case, you would want to get the right value out of your investment. The location should be one that has access to all major transportation modes. A real estate agent can help you make the selection based on your set budget.

In case a residential apartment is what you are looking for, the opinion of your family members will equally matter. Inform them about the options you have shortlisted, elaborating upon the characteristics of each. Find out if any of your family members have a better option.
Do not compromise?
Chances are the property you just inspected has almost everything you need expect for a couple of features that are on your list. The agent may try his best to compel you into buying the property. By going ahead with the deal, you may end up compromising on something you wanted. No matter if it takes a bit longer, carry on the research until you find the most suitable property.

Beware of the predators
Almost every developer wishes to grab the best piece of what Mumbai has to offer. And this has only given rise to several fraudulent practices of extracting money from home buyers. Prevent yourself from falling prey to such practices by doing the right amount of research while finding the desired property.

Summary:
No doubt, a property in Mumbai is sure to cost you a fortune. However, spending your time, moving around the least known locations in the city would help you find comparatively less expensive accommodations.

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