Tips to Consider when Dealing with Real Estate Agents in Mumbai

Home buying experience can be daunting if you don’t find a good real estate agent. Here are some of the tips that help you deal with real estate agents in Mumbai:

• You will have to be in constant touch with the agent if you want to get a good deal


• It helps to double check everything you are being told by the agent because in order to lure the buyer, many agents tend to give wrong information about the residential projects. There is no harm in getting a basic idea of property rates from newspaper ads or property portals


• There is no point in relying on just one broker. Instead, contact several brokers and compare rates


• It is recommended not to get finance from the financial service company suggested by the sellers’ agent. You should instead get a quote a discuss it in detail with your own mortgage advisor


• Usually, real estate agents are not very transparent about a building’s construction quality. For instance, in one locality there can be two similar properties that are priced the same but one will give you more value in terms of amenities and construction quality


• When finalizing a deal, it is always recommended to meet the other party (in case you are residing in a different city). If your real estate agent is pushing you to close the deal without getting to know the seller in person, you shouldn’t go for it


• Remember, the agent will be asking you for a commission which is usually a percentage of the deal value. It is recommended to ask about the fee he/she is getting from the other party. If you don’t get a clear reply, you should become more careful

Upcoming Residential Projects in Mumbai - Growing Demand for Luxury Homes

Mumbai’s skyline will be transformed by several upcoming residential projects. The most of developers are launching their new swanky buildings which will offer high-class amenities to the residents. From butler services to the concierge, it appears to be home purchasers are in for a treat from realty companies.

You will be shocked to know that population in India has grown in the previous few years. Wealthy buyers have pushed the interest for high-rise apartment or condominium building in the city. So as to woo them, developers are presenting their new projects including, luxury penthouses and condo. Neighborhoods behind Chowpatty Beach and Malabar Hills are signs of the boom in skyline buildings.

Suburbs of Mumbai are getting a support from other developers. Even real estate companies from across the country are launching exciting new commercial as well as residential projects in partnership with property development companies.

Nowadays, home buyers not only search for an apartment or flat but also look for an entire luxury living expertise. Whether or not the infrastructure of Mumbai can address the building boom is going to be a factor to see. At present, the market is giving everything a luxury property buyer can request.

Not only classy locations but also real estate companies are offering stylish homes in Ghatkopar, Khar and different suburbs of Mumbai. Buyers are consistently attracted with ultra luxurious amenities like modular kitchen, Italian marble flooring, landscaped gardens, split AC in all the rooms and banquet facilities on the terrace.

Due to improved infrastructure and better connectivity to different zones of Mumbai, several residential projects are rising in Goregaon East. As per real estate professionals, Mumbai has the capital trade links and business that may help the city contend with Singapore, Dubai and Shanghai as far as property.

Why Ongoing Residential Projects in Mumbai are attracting the Buyers

Development and sales of luxury homes have been lukewarm in most of the Indian metropolitan cities. Be that as it may, concerning Mumbai, developers keep on offering stylish flats in luxurious ongoing residential projects.

Majority Developers are offering luxury flats valued at approximately 100 Crore INR (roughly $16 million). Not only Malabar Hills and Altamount Road however areas like Worli and Lower Parel also are being explored for developing stylish properties.

In the most recent decade there has been a spectacular change in dynamics of luxury housing in Mumbai. A slowdown has been seen in the demand and value appreciation of properties in Marine Drive, Pedder Road and other locations in the city.

Developers are investigating Worli for constructing residential projects for buyers who would like to near the Sea Link for quick access to Bandra Kurla Complex. Corporate employees having offices in Bandra-Khar-Santacruz belt like Worli for getting a property as they need to reside in close proximity to their workplace.

Some of the upcoming residential projects in Mumbai are giving homes with sound proof glass in order that homeowners will get pleasure from peace without outdoor noise. These ultra-luxury flats are being offered to wealthy buyers who would wish to live in a house with rugs from or John Lobbs or Jimmy Choos. To bait buyers, developers are tying up with worldwide interior design firms.

Few homes are extending between 14,000 to 18,000 square feet with 14 feet high ceilings. The concept is to make farmhouse type of luxury in an apartment. A number of the flats even offer dramatic views of the city.

Real Estate Developers Building High Rise Apartments in Mumbai

Did you recognize that by 2020 Mumbai’s Metropolitan region is expected to have 28.5 million people?  The city observes an increase in the number of high-rise buildings because of the pressure on space is growing. As per real estate experts, tall residential buildings hold the answer to Mumbai’s housing issues.

Nowadays, most of location in the city boasts of one or more skyscrapers. Areas in Central Mumbai like Parel, Lalbaug and Sewri have many high-rise apartments which are costing more than 5 Crore. A few years back, Lower Parel was scattered with textile mills however these days; the old structures are being pulled down to make glossy malls and tall buildings.

Real estate developers have changed the landscape of central Mumbai with 75 and 80-storied towers. With a host of high-rise buildings, Mumbai will be receiving more cohesive skyline within the years to come back.

Maximum range of tall buildings under construction or approved in India are in this city. Such types of buildings are being supported in Mumbai as a result of the FSI available here is higher than other cities like Delhi.

Construction of a 126-storey building has already begun that is being touted to be the tallest within the country. If you are looking to buy a flat on the top floor of a skyscraper for a better view, you should be prepared for a huge amount. Cost of 4, 3 or 2 BHK flats in Mumbai’s skyscrapers is higher because developers have to rely on expertise from overseas for constructing these types of buildings.

Real estate professionals believe that encouragement of vertical growth is extremely vital for Mumbai’s future. Efforts are being created to strike a balance between good infrastructure and tall buildings so that Mumbai’s skyline is often created to appear like Dubai or Shanghai in the future.

Trends in Luxury Property in Mumbai

Luxury housing in Mumbai has completely changed from the last few years. Preference for luxury property in Mumbai has shifted as the CBD and Diamond Market has moved to Bandra Kurla Complex (BKC).

People are spending big bucks on buying luxury flats in Worli because of it’s close to the Sea Link for quick access to BKC. Most of corporate employees looking to stay close to their offices are looking for properties in the Bandra-Khar-Santacruz belt. Additionally, the Diamond Market is also moving to BKC so high priced flats are being bought by diamond traders who are shifting to these areas and to Worli for quicker access to their shops.

Even the Andheri-Malad-Goregaon-Powai belt is witnessing an increase in demand for premium properties. This can be the result of various Media, SME, FMCG and Pharma companies have shifted their headquarters to the present space. Various television and film artists are also spending huge amounts on plush properties in this belt because of they want to live closer to the major studios. Proximity to the metro stations, airport, and highways are some of the key factors due to which the Andheri-Malad-Goregaon belt is seeing an amazing growth in demand for luxury properties.

A new ‘affordable luxury’ trend is also becoming more popular. Developers are catering the not-so-rich with luxurious yet affordable 2 and 3 BHK flats in Mumbai. Suburbs such Malad, Goregaon, Vikhroli, Airoli, Bhandup and Ghodbunder Road in Thane are offering several choices in this category to buyers. Overall living standard and improvement in these areas is so high.

Developers Exploring New Areas for Residential Projects in Pune

Information Technology has played an important role in boosting and re-defining the market for residential projects in Pune. The IT sector has increased job opportunities with attractive pay packages, boosting the purchasing power of home buyers from this segment.

Pune has turned into one of the most quickly-growing IT-driven property locations in India. With the increase in demand, developers are coming up with stylish properties in unexplored areas of the city.

Charoli

An emerging location in Northern part of Pune, Charoli is becoming popular with developers and property buyers. Growing number of employees from the IT and manufacturing industries are looking for flats in Charoli which is strategically located near the Lohegaon Airport of Pune. Developers are coming up with mid-income housing in this area which is also catching the spill over demand coming from Vishrantwadi, Kalyani Nagar, Yerwada and Viman Nagar. Charoli is just 9 kilometres away from the IT hub at Kalyani Nagar and 11 kilometres away from the Pune Railway Station.

Wagholi 

This area is slowly turning into an important suburb for property investment. Initially it was popular as an ‘industrial area’ but today, it has become a prominent residential destination. Wagholi residents can enjoy proximity to the airport, thriving IT hubs in Kharadi and Magarpatta and various existing and upcoming commercial establishments Bund Garden, Kharadi and Hadapsar.

Ambegaon

Ambegoan is attracting home buyers with religious inclination due to the Veeraliyam Temple, a famous Jain temple. Since this location is being developed as a religious destination, developers are coming up with properties that suit all budget segments. This area has close proximity with the Mumbai Bangalore Bypass and NBN Sinhagad Technical Insititute.

Undri, Wakad, Baner, Pimple Nilakh are also becoming popular destinations for buying a bungalow or luxury flats in Pune.

Developers Coming Up with Luxury Residential Projects in Nashik

Nashik has become a lucrative property investment destination due to its proximity to Pune and Mumbai. Investors from both the cities are exploring luxury properties offered by real estate developers in Nashik. According to industry experts, the property market of Nashik will be seeing an unprecedented growth in the coming years. In the last two years, realty rates in this location have increased by 15-30%.

Luxury living is being redefined by the growing number of residential projects at Gangapur Road in Nashik. Developers are coming up with spacious, independent and luxurious villas, houses and multi-storey apartments priced at 80 Lacs and above.

These luxury options are being targeted towards rich buyers who are looking for spacious homes that come with top class amenities like a yoga centre, rooftop jogging track, swimming pool, club house, gym, 24/7 security, parking, private gardens, terraces, intercom facility, air conditioning and rain water harvesting.

Buyers are spending big bucks on residential projects in Nashik that offer river-view. Gangapur Road runs parallel to the Godavari River. Buyers are shelling out 80 Lacs to 1.5 Crores on 3 and 4BHK flats or villas (spread in 1400-1300 square feet). Developers are also coming up with vastu compliant homes in localities around Gangapur Road.

Why Invest in Nashik Real Estate?

Nashik offers good prospects in terms of real estate. From luxurious to affordable, this city has a lot to offer to property buyers and investors. Most of the hotels, schools, restaurants, colleges, malls in Nashik are located near the Gangapur Road.  The city has several IT parks and IT companies and it is emerging as a KPO hub. Market for luxury properties in Nashik is still developing. Demand is less compared to the supply; however, this will change in the months to come.