Mumbai The Second Home Market

Mumbai real estate, that thrill is that the second home market is unaffected by recession

. Not entirely true however to some extent it is said that the phase tends to carry its own, because it operates on slightly different concerns and dynamics. The reasons for purchasing a second home are largely investment or status.

Most of the residential property in Mumbai within the second home market are on the outskirts of town, in areas like Kasara, Shahpur (Mumbai Nasik highway); Alibaug, Roha (along the Mumbai Goa highway); or Murbad Karjat or along the hills of Lonavala on Mumbai Pune highway. These are premium offerings, therefore be it a small apartment or a spacious villas, the client expects quality and magnificence in everything such as amenities, fit outs, interiors, theme, size of the units etc.People are mainly searching for one thing that's completely different and out of standard. In that sense both apartments and villas with smart facilities find takers.

For Mehak and Mahindra Sawhney, who keep in a very 2 bedroom apartment in Bandra with their 2 youngsters, their second home at Alibaug makes up for what all is lacking at their Bandra home- which is area, swimming pool, badminton court, a giant lawn where they will watch their youngsters play and indulge themselves too! The thought is to urge removed from pollution and congestion of town to the quietness and sweetness of the countryside and that they try and come back a minimum of twice a month.

The second home project should have the texture of a vacation home, stated by a spokesperson of Disha Direct, a real estate company that has many residential property in Mumbai in he second home class. At Disha Direct, there are 2 bedroom villa projects of size 1240 sq ft accessible for twenty five lacs to variants that are much larger and expensive.But what runs across each of their residential property in Mumbai, is lifestyle amenities like gymnasium equipped with all modern and advanced equipments, swimming pool, meditation center and a resort like feel. As an example, the theme of the project is based on the Goa resort of the La Royal Valley.

The second home market in Mumbai has choices at varying value points. Whereas there are plots of size 2000 sq ft accessible at Wada on Mumbai Ahmedabad Highway for Rs Five Lakh, there are high-end homes for Rs Three Crore too! As an example, at Della Enclave, the average size of the villas is 3500 sq ft to 4500 sq ft (built up area) and that they are accessible in a cost vary of Rs 3-4 crore. The villas are laced with a completely operational journey park with eighty six activities, five-star resort facilities and 4 specialty restaurants together with banquets.Majority of the second home owners hail from from higher middle class corporates and business families. Typically they use their properties on the outskirts of town, as a weekend getaway. Vacation times see home owners pay longer time and that they tend to bring guests along to pay their holidays.

by: proptiger11

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