Which real estate trends will shape Mumbai in 2020?
Ever since RERA and GST became applicable in the realty sector, housing responses have become dull. However, in Mumbai, where people are still struggling to invest in a roof above their heads, the situation is clearing up. Homebuyers are shifting their sights from congested western suburbs to areas like Chembur in the east. Amongst the most significant trends that will shape Mumbai’s need for housing the vast middle class is their protection from long term incomplete projects. Only a handful of real estate companies in Mumbai display the RERA badge and conform to suitability of a flat owner’s needs.
There are other trends also that are emerging slowly. If you have any plans to invest money on flats for sale in Mumbai. Then this information might assist you in making the right decision.
More interest in ready-to-move projects
The realty sector was badly hit by the soaring prices of flats and second homes. More over ambitious developers delayed construction and troubled home buyers who accepted loans to invest in residential complexes. As they become wiser and more informed, the onus is on the builders to offer a complete inventory. Ready-to-move flats for sale in Mumbai are gaining traction. As mentioned earlier the thrust on avoiding congested colonies in the western suburbs remains an additional factor relating to shifting trends of home buying.
Chembur, nonetheless, contains leafy pockets where the air is fresher, spaces are quieter and safe for young families. With developers focusing on this metropolitan region to construct housing complexes, the younger generation are likely to grab the offers for affordable housing. They display less patience towards waiting and delay of incomplete projects. Young couples love to go out of Mumbai for weekends to Karjat, Lonavala, Khandala or Alibaug. Chembur is at a vantage point where the traffic eases out. It is easy to reach the Vashi bridge from where one can leave the maddening cityscape behind. This is another major reason people prefer to invest in this kind of projects
Boost for affordable housing in India
The roadmap for real estate investment in India continuous to be in a disruptive phase. Property and technology are coming together to make smart homes a reality. However, the government’s keen interest in reducing the burden of the home buyer is genuine. This is one factor that is allowing flats for sale in Mumbai to increase in 2020. Regimes of builders with RERA registration are now held accountable for finished projects.