Mumbai is a market that is promising a lot in the future. Ever since the transport infrastructures are being remodeled, there’s a great opportunity for investment. It will grant faster and convenient access to the main city. People always complain about the time it takes to get from one corner of the city to the next. With a quicker and more efficient transit system in place, that complaint is as good as gone. Super Luxury Apartments in Mumbai will be available even at the peripheries, providing access to the city.
You’ll be able to travel through the whole city in a matter of minutes. Although the completion is due in 2022, the projects and market demand will rise leading up to it.
The Infrastructure is Under Development:
A better infrastructure guarantees not just a faster transportation system but it also promises a decrease in pollution. The Metro project along with the trans-harbor link connecting Sewri to Nhava Sheva will reap a lot of benefits. You can make use of the link to get across the immense water body to the other coast of the city. Similarly, the metro projects will connect the North-Western area of Dahisar to the Southern end of DN Nagar. Another line will connect Dahisar with Andheri, and a final line connecting Colaba with Bandra and Seepz.
What This Means:
If you take a look at the maps, the affected areas are going to prosper in terms of residential and commercial markets.
Through the Metro:
Firstly, due to the metro projects, areas of Marol-MIDC belt, land parcels in Lower Parel, BKC, and Dharavi are going to prosper. Not only are some of these areas already booming with demand, but they’ll also be well-connected with each other. Developers are going to make sure to launch projects in all underdeveloped parts of the region. Ultimately, this will increase the real estate inventory, providing more options to invest in.
- To summarize the impact, let’s take a look at the following facts:
- The project will connect 6 major commercial business districts including BKC. This is the first transportation system connecting to the area.
- The project will also be in line with 2 airports.
- Old industrial landmasses in Lower Parel and Dharavi that aren’t developed will become great commercial hotspots.
Through the Link:
The harbor link is going to connect one side of Mumbai to the other. The key points to look forward to for the completion include:
- Daily travel for almost 40,000 vehicles over the bridge by the year 2022. The number will increase in the subsequent decades. Estimated numbers go around 100,000 in 2032 and 150,000 in 2042.
- The travel time for getting from Sewri to Nhava Sheva will be reduced to just 20 minutes.
- The areas of Chile and Ulwe will witness significant greenfield development and become commercial centers.
- The further anticipated project of the Ranjhan Pada suburban railway station will undoubtedly add to the prosperity of the region.
The Market’s Current Situation:
The real estate market offers rental yields of up to 8-11% in the residential sector. While the rental yields for commercial real estate can get you up to 13% if you invest well. Furthermore, the inventory is stocking up with great options coming from various developers around the city. You can find apartments, flats, and even villas for sale in all parts of Mumbai. Although the rates and availability might be subject to the situation of the area you select.
Significant areas that offer a lot in terms of amenities and residential facilities are always in demand. Especially in a city like Mumbai, with a lot of social mobility, real estate options are not needed. For an investor, this is the prime time to conduct thorough research and look for upcoming projects. A lot of areas should be under your spectacle and you should have a clear knowledge of future developments.
The Anticipated Future:
As stated above, it’s plausible for real estate developers to soon start massive projects in the above-mentioned areas. From an investor’s point of view, this means that there are going to be a lot of under construction flats to choose from. You don’t necessarily have to go with completed projects, especially when there are discounts and offers. You can tag along with real estate companies as they enjoy the ride of skyrocketing profits.