Under Construction Projects in Mumbai
Real Estate investments in Mumbai have become very lucrative as they guarantees high-paying returns and can become a regular source of income as well. Emergences of nuclear families, urbanization and rising household incomes have become the drivers behind real estate growth. Although there was a slump in the real estate market in the last 2-3 years, experts believe that the market has bottomed out and there in now renewed interest in the sector.
The real estate prices in Mumbai have already escalated a lot and investing in under construction projects in Mumbai can prove to be more beneficial than investing in already launched or ready for possession projects. There are many under construction projects in Mumbai which are expected to fetch high returns in the near future.
Thane is one of the prime areas for real estate investments due to the new infrastructure as well as good connectivity and proximity to important commercial hubs in Mumbai. There are many under construction projects in Mumbai, in Thane Area which are expected to fetch good returns. Established developer Piramal Vaikunth is developing commercial and residential projects in Thane.
Madh-Marve and Ulwe are touted as the top residential investment destinations in India, with expected price appreciation of 94% and 70% by 2020, respectively. Ulwe has become the investor's hub and is the fastest developing location in Navi Mumbai due to its connectivity to Navi Mumbai International Airport as well as the Nava Sheva-Sewri trans-harbour link. Raheja Developers and Mangalmurti Construction Group have many under construction projects in Madh.
Kharghar in Navi Mumbai is being developed as one of the most well planned areas in the city. The area will come with new infrastructure, with wide roads, skywalks, central park and many more facilities for residents. It is developing as a commercial hub and is expected to generate immense employment opportunities in the next few years. The area has good connectivity to both Pune and Thane. With the proposed Navi Mumbai International Airport coming up there is further expectation of real estate prices escalating up. Piramal Realty and Paradise Group have some excellent under construction projects in the area.
Kalyan and Dombivli which are a part of the 'smart cities' project will see improvement in infrastructure and better connectivity. The prices in these areas are expected to increase in the coming years. Renowned developer Lodha Group is currently developing over 29 million square feet of prime real estate in 38 projects from Napean Sea Road to Dombivili in Mumbai.
Chembur is another place with lots of under construction projects in Mumbai. The area is on the eastern part of Mumbai and has witnessed huge infrastructural development in the last 5 years. The area is in close proximity to BKC and Lower Parel. It has good connectivity to Ghatkopar via the 2nd metro-phase. Experts believe that under construction projects in the area will witness a 20-25% YoY growth. Godrej Properties have many upcoming and under construction properties in Chembur which will come with all the amenities and are expected to fetch good ROI in the coming years.
Mumbai the financial capital of India attracts people from all across the world due to the employment opportunities. With real estate prices shooting up so high, investing in under construction projects in Mumbai can prove really lucrative.
