Main Mumbai
Advantages
- Lower Risk investment due to the supply-demand dynamics and long-term historic data that has shown steady capital appreciation in key areas over time
- Proximity to the established commercial centers
- Proximity to reputed educational institutes and hospitals
- Assurance of the availability of basic utilities such as water, electricity etc
- Proximity to the ‘original’ city of Mumbai and its key tourist attractions
- Ownership of properties is typically seen to elevate the social and financial status of occupants. However, key areas in the western and central suburbs also now tend to have a similar impact on the social and financial status of inhabitants
Disadvantages
- Limited space/square foot area per apartment/dwelling unit
- Older buildings with a large number of apartments under rent control
- A number of buildings don’t have the modern amenities which come with purchasing a property in the newer developments/construction projects
- Limited open spaces
- Low to no parking space across residential developments/areas
- Limited availability of land at reasonable rates for affordable housing projects
Peripheral Mumbai
Advantages
- More space by way of additional square foot area available for the same purchase budget
- Newer developments/complexes with modern amenities
- The propensity for a high return on investment on properties bought in high potential areas/neighborhoods as the epicenter of the city moves northwards
- Land availability for Affordable Housing Developments
Disadvantages
- Distance from key commercial hubs, reputed educational institutes and hospitals
- Higher risk investment as a result of the investment in newer areas/neighbourhoods with limited historic data available on their capital appreciation
- A requirement for improved connectivity and infrastructure including access to basic utilities such as water/electricity across these newer/peripheral areas
About REMI
The Real Estate Management Institute- REMI is a leading institute that provides certification programs, executive courses and customized training workshops specially designed for the Real Estate Industry. REMI offers an international curriculum that trains students and professionals in global best practices through its collaboration with IREM®, USA.
For more details visit www.remi.edu.in