The prices of real estate are soaring through with each passing day. If you are based out of India and need to indulge in some good property investment in India, Mumbai and Thane are the best bets for the real estate yields. These two are the best propositions for NRIs if you want strong capital appreciation along with better rental gains from the properties.
Sanjay Mehrotra, national head for sales and marketing at L&T Realty, in a conducted interview with Khaleej Times said that if he had no compulsion and a free will to choose anywhere to live in India, he would definitely choose Mumbai. The main reason behind the same is because of the fact that the state has shown quite an impressive growth for investment in the last five years.
Mehrotra further added saying, “Chandigarh and Ahmedabad are doing well while Delhi is opening up now. Bangalore is doing okay but not showing much of growth. I wouldn’t suggest Chennai because it has not done well. So if people are neutral and are willing to invest anywhere in India, then Mumbai should be their first choice.”
In addition to that, he further said that Indore, Jaipur as well as Lucknow are doing quite well but Bhopal does seem to be stagnant.
Rais Ahmad, chairman and managing director of Rassaz Group also believes that the demand is increasing in Mumbai because of the growing and expanding population. Ahmad believes that this is the correct time to invest as the prices are very low and the buyers can even negotiate with a good price. With time, chances are that the prices will double if you find the one in the correct location around. The only thing to keep a close eye on is to ensure that it is all legit and legally approved.
Viraj Mohile, manager for sales at Raymond Realty also had some insights to share on the same saying, “A lot of people from Mumbai and other parts of Maharashtra are looking at Thane as a better opportunity because of better infrastructure, schools and retail. Also, it will also be connected to the metro, which will reduce a lot of travel time between the two cities. From affordability point of view, a two-bedroom apartment starts from Rs10 million but in Mumbai it costs not less than Rs. 25 million.”
Vikram Kuchroo, assistant general manager for sales at Hiranandani Constructions does believe that the metro around the places in Mumbai is what is going to change the facet of real estate prices in Mumbai in the years to come. Some of the A-listed constructors are based out of Thane, making it a good spot to engage with.
Mubasshir Dalal, assistant general manager for sales and marketing at Shapoorji Palloni believes that India is all set to experience an upsurge in the capital appreciation by 15-16%. Nothing is set in stone yet but this upsurge can definitely have positive impacts on the overall prospects of investment in Mumbai region, especially places like Thane.
If you are planning on some real estate investment as an NRI, starting out with Thane is actually quite an amazing option, if you ask me.
