Mumbai Real Estate promises higher returns to the real estate investors. Three Mumbai suburbs are listed among the top ten advantageous Real Estate destinations of the country.
Mumbai City has 3 top Real Estate destinations of India. Prices in these areas are said to double in five years’ time.
Though the Real Estate sector undergoes a very sluggish momentum, investors all across the country still choose real estate investment. Higher returns are said to be the reasons behind this overwhelming popularity of real estate investments.
Real estate consultant Knight Frank’s report shows that the city must be considered as the most suitable option for investment. Those who purchase property merely for investment will find Mumbai as the most profitable place.
Investors across India consider real estate investment as more profitable despite the slump in the real estate market. Real estate consultant Knight Frank’s latest investment advisory report boasts Mumbai as the best destination for real estate investment.
Three Mumbai cities viz. Wadala, Chembur and Ulwe found place in the top ten real estate investment destinations in India. Among all the cities Ulwe ranked top with nearly 150% of growth. The other two Mumbai cities showed growth rate above 125%.
Real estate consultant Knight Frank had listed 13 such destinations. According to the report these 13 areas will have hike of prices within 4 to 5 years. The existing price level of Ulwe is Rs.4000 / sq. ft. The estimated price in the year 2017 is Rs.9800/ sq. ft.
Ulwe is expected to benefit immensely from the upcoming Seawood urban-suburban rail network. It shall connect the noticeable office- centers to the area.
The 13 destinations were selected on the basis of the area’s physical infrastructure, expected connectivity- growth, proximity to first-rate office spaces and land availability. Other destinations are Noida Extension and Dwarka Expressway – in the NCR region. Pune had four destinations while Bangalore had two. One Chennai city too found place inside the list.
