Having an apartment of your own is a lifelong dream for the Indian consumer. For someone living in Mumbai, bringing this dream to life becomes a task that requires a lot of effort because of the high property rates. The real estate market in Mumbai needs a lot of background check, running from one office to another and making sure that it suits all the requirements that one need for a happy home. Here are a few things that you should consider before making a move and finalizing a residence of your own.
Distance from the city centre – For a city like Mumbai, defining a city centre doesn’t make sense. But while considering an apartment you need to make sure that it is at least closer to the supermarkets, schools, your office, airport and railway stations. If the apartment in consideration is located far away from the all these places then finalizing deal will end you regretting in the future.
Analyse the contract – The real estate purchase involves a contract. This contract has a number of clauses that you need to go through in detail and make sure that none of the clauses will prove negative in any sense. If there is any pointer that makes you feel suspicious then it is better to ask and get a clarification.
Future market value – Your property’s value in the market needs to grow with time and not go down. This is important because either you or your children will think about moving to a new home and for that they’ll have to sell that place. The future market value of the real estate depends on a log of factors like distance from airport and railway stations and if there is a huge project that is coming up in next 2 to 5 years. For example the value of apartments in Goregaon will always go up because they are located in prime area of Mumbai.
For authentic real estate deals, always make sure that you are working with a trusted real estate company who ensures transparency during the entire process from enquiry to purchase.
Distance from the city centre – For a city like Mumbai, defining a city centre doesn’t make sense. But while considering an apartment you need to make sure that it is at least closer to the supermarkets, schools, your office, airport and railway stations. If the apartment in consideration is located far away from the all these places then finalizing deal will end you regretting in the future.
Analyse the contract – The real estate purchase involves a contract. This contract has a number of clauses that you need to go through in detail and make sure that none of the clauses will prove negative in any sense. If there is any pointer that makes you feel suspicious then it is better to ask and get a clarification.
Future market value – Your property’s value in the market needs to grow with time and not go down. This is important because either you or your children will think about moving to a new home and for that they’ll have to sell that place. The future market value of the real estate depends on a log of factors like distance from airport and railway stations and if there is a huge project that is coming up in next 2 to 5 years. For example the value of apartments in Goregaon will always go up because they are located in prime area of Mumbai.
For authentic real estate deals, always make sure that you are working with a trusted real estate company who ensures transparency during the entire process from enquiry to purchase.
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