subject: Property In Mumbai : Budget Homes Catches The Eyes Of The Aam Mumbaikar [print this page] Mumbai now a days has been a city of the fastest rising prices of the real estate units in India. But there is a segment of property in Mumbai, in which there are Budget homes are catching the eyes of the aam Mumbaikar. Mumbai the state capital of Maharashtra.
These budget homes are normal homes or apartments that are priced economically targeting the aam aadmi. These budget homes are created with a view to comfort those who have a strong will to own a house/apartment/flat in a Mumbai but their pockets never let them have a think of it.
This time, with the developments of Budget Houses, developed by the State Government and various private companies are attracting the buyers. Even the local brokers of property in Mumbai are eyeing these projects. One of those local real estate advisor told a news agency recently that Overall, the residential property values have noted a 15-20% appreciation in past one year and are still appreciating. Apartment in the affordable budget of Rs 30-50 lakh was largely transacted during the same period.
Thane, a major sub urban area of Mumbai, has some of these Budget Homes and is becoming a hot real estate destination to live in Mumbai. Thane is becoming an investment destination for the people of the neighbouring cities and also form the other cities as well. Thane is situated in northern part of mumbai and offer a great easy lifestyle. Well located, Thane is away from busy congestion and populated areas of Mumbai which is one the attracting feature of the area that attracts people to buy a property in Mumbai.
Thane has clean and green surroundings which is contributing in the rising demand in the real estate property. Another real estate advisor says Thane is an upcoming area and is a developer paradise. Availability of pollution free environment in addition to its location, connectivity and availability of infrastructure assets such as roadways, drainage, and water coupled with other civic amenities is proving to be very beneficial in the real estate growth. The rates for these budget home is in between Rs. 2000 to Rs 6000 per sq.ft.
These well- designed and planned residential apartments, have railways and road infrastructure in close proximity and these features are also the key for fast selling of these apartments. Developments projects in Thane, both recent ones and upcoming ones, are booming the realty market of the locality.
But property prices in Mumbai may also rise. Few months back, realtor in Mumbai were failing to attract investors because of large marginal prices. Now, RBI's move to cut repo rate by 50 points, investments are expected to rise. Mumbai is a world class city to live but one should have more knowledge before investing into it.
