Top 4 Hotspots in and around Mumbai for Real Estate Investment

When it comes to investing on real estate in Mumbai, investors will have plenty of option readily available. However, keeping yourself ready with finance for the investment is important. With the ever increasing price of the Mumbai real estate, it becomes difficult to invest on residential property. But home buyers are now moving out of Mumbai for residential investment. Cities like Thane, Kalyan, Navi Mumbai, and Virar are now considered as the prime investment location. Developers like Nirmal Lifestyle, Godrej, Wadhwa and others are building projects outskirts of Mumbai. Nirmal Lifestyle City in Kalyan is the prime example of luxury project built in the Kalyan city.

Let us check 4 such places in and around Mumbai for real estate investment:

Kharghar:

A part of well-planned sectors of Navi Mumbai, Kharghar is managed by CIDCO. The infrastructure here is finely crafted attracting real estate developers to develop projects. Similarly, home buyers are looking forward to invest here. Good connectivity and infrastructure has further influenced buyers to invest.

Mulund:

One of the prime suburbs of Mumbai in the central location, Mulund is certainly the best investment options. Nirmal Lifestyle has developed some high-end and budget residential and commercial projects which gives many reasons to invest.

Dahisar:

Falling on the outskirts of Mumbai, it has good connectivity to other parts of the city. Both commercial and residential establishments have boosted for further investment. Reasonable rates, good infrastructure, and good connectivity are reasons to invest here.

Kalyan:

Until few years back, this city falling under Kalyan-Dombivali Municipal Corporation, was highly ignored. However, over the years, Kalyan has witnessed a promising development. From high-end infrastructure and connectivity, Kalyan is now a prime investment location. Nirmal Lifestyle City Kalyan is one such project built in the city and is now attracting more developers for building projects.

How RERA Listed Project can help Home Buyers?

Since the passing of RERA (Real Estate Regulatory Act) home buyers in Mumbai have a sigh of relief. RERA came into the force from May 1, 2017 and since then it has become important for real estate developers to list their projects under RERA act, so that home buyers can get the possession as per the guidelines set in the act. Top real estate companies like Nirmal Lifestyle fall under RERA act. So it does make sense to invest in any of these projects.

Let us check how home buyers can benefit with investing in RERA listed project:

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      Property to be sold on Carpet Area basis:

As per the RERA rules, the property has to be sold in carpet area which means the net usable floor area of an apartment which includes the area covered in internal walls and excluding balconies and open terrace. So by this, the buyer doesn’t have to pay extra for the space offered by the developer.

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          Provide Complete Details of the Project:

The developer has to now offer complete information from the possession date to amenities offered in the project. The developer has to keep updating the homebuyer about the type of apartments, approval grant, status of the project, etc.  From the beginning of the project to the completion, keeping the home buyer in loop is important.

·       Compensating the Homebuyer:

If there is any damage to the property or any false statement is given by the developer to the home buyer, then the developer is liable to pay for the damage. Under RERA, developers will be now monitored on every act. This certainly a big benefit for the home buyer because there are cases where possession is delayed or the project gets halted due to legal issues. This certainly leads to a loss for the home buyer.

Also Read - Nirmal Lifestyle - Striding Towards Success