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Is it worth buying a home in Mumbai?

Author: Ravi Saraf
by Ravi Saraf
Posted: Jul 30, 2018

A home where the heart is; well, in Mumbai, a home is where all your money goes!

A residential unit, be an apartment or an independent house is not just a space to stay; it’s also something we are attached to emotionally. Financially, owning a home is one of the biggest financial decisions of our life. When we decide to purchase a property for ourselves, we often mull over the feasibility of our decision and we have a host of things to consider before we go and make the purchase.

For a salaried, middle-class person, the questions are many – ‘Is buying a home a real priority for me?’, ‘Would my income be enough to pay the EMIs, what if emergencies strike?’ and like. When it comes to buying a home in the city of Mumbai, the questions grow multiple times. Though it’s wise to take this call cautiously and only after one is ready; buying a real estate property and make it a home have many benefits. A few of them would be –

  • Investment: Investing in real estate is almost always a good decision. Property rates in Mumbai city are still on the rise and it’s very probable that one’s investment in real estate today would fetch him substantial returns in future.
  • Tax Deductions: Home loan is a great way to reduce one’s tax liability. If one has taken a home loan early in his life, it will take care of most of his Tax liability throughput the loan tenure.
  • Credit History: Regular paying of loans helps one to become a trustworthy borrower and banks consider credit scores very seriously in case of a future loan requirements

Mumbai is arguably India’s most affluent city and investing in a property in this city definitely has many merits. Mumbai’s real estate industry is one of most active and thriving in the entire country and topmost developers have numerous state-of-the-art projects across the city.

While investing in a property in Mumbai, one should pay maximum importance on the choice of the right project and the right location – as they truly say, in real estate, it’s all about location, location, location!

If one doesn’t carefully check the project-offerings, credentials of the developers and or an inappropriate location, the decision of buying a home may backfire and can land the buyer in a disadvantageous position. When it comes to the credential of a developer, it’s essential that a buyer looks into the credibility, years of experience, portfolio and brand image of a developer.

In Mumbai, there are a number of reputed real estate developers who one can trust on. One of the most reputed real estate developers of Mumbai is Ruparel Realty, the brand which has personified iconic living. Ruparel Realty offers new-age 1, 2, 3 BHK luxury apartments in various parts of the city like Parel, Kandivali, Matunga, Dadar, Chembur etc. Ruparel Realty is a renowned developer who builds luxury homes which are affordable for a large section of buyers. For example, Ruparel Sky Greens offers 1 BHK and 2 BHK luxury Apartments amidst a vast green landscape and a well-connected pocket of Kandivali.

Buying a property in Mumbai city has its own advantages but one should do careful research before the big decision to maximize the benefits of his investment.

About the Author

Ravi Saraf is an well known real estate agent and property dealers in Mumbai dealing in residential properties.

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Author: Ravi Saraf

Ravi Saraf

Member since: Jul 30, 2018
Published articles: 1

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