With the constant development projects in the suburbs of Mumbai, RNA Corp considers investing worthwhile for investors.
Mumbai, being the most expensive city in India, has real estate prices touching the sky
Mumbai has a teeming population of 20 million, and the city has been struggling to grapple with increasing traffic jams, over-crowding, congested spaces, etc.
Gokul Agarwal, the Director of RNA Corp said, “The city is bursting on its seams, pushing people towards Navi Mumbai and Thane. These places are emerging as popular areas for investment. Several realtors are extending to these locations for developing the finest property projects. I feel these projects are worth the relocation.” However Mr Agarwal warned that property rates may also rise in these areas in the next few years.
Navi Mumbai and Thane are rapidly developing with time. The luxury projects, commercial space, malls, schools and colleges are just enhancing these places. Both the areas have easy connectivity with Mumbai city. Anubhav Agarwal, another Director from RNA Corp said, “With the increasing pace of development, these locations are proving to be bankable in terms of investment. Residents from these areas are already coming up with various attractions. Investing in these properties can be a good decision for people looking to go beyond Mumbai.”
In the 4-5 decades, road and railway constructions have not been able to cope up with the growing demand of Mumbai. The completion of the Mumbai Metro is expected by 2021. RNA Builders predicts that property prices around the metro line will significantly go high.The shortage of land in Mumbai has been answered by the developers in form of re-development projects. The real estate sector is working on redevelopment projects to meet the increasing demands of residential properties. Developers are turning low demand areas to luxurious residential complexes. Due to the makeover, a visible chunk of the population is relocating to these areas.
Various areas in the suburbs of Mumbai are experiencing an upward trend in the real estate. The development is not necessarily in the residential properties, but also in office complexes, schools, hospitals and overall infrastructure. Property rates in these areas are comparatively lower than the city.
Directors of RNA Corp are certain about the popularity of the real estate of Mumbai. They view returns on investment in various locations as promising, be it Santacruz East, Vile Parle (East), BKC, Mira Road East, or Chembur, Mulund and Ghod bunder Road in Thane. Anubhav Agarwal stated, “The city is struggling to keep the pace of infrastructure to the growing citizens. As various new projects and redevelopment projects are happening, the suburbs of the city are offering various profitable investment options. Moreover, property cost in the eastern suburbs is lower than the west.”
Finance Minister Arun Jaitley will refinance the individual loans worth Rs 20,000 crore this year. The residents are expected to receive an opportunity, wherein they can invest in some favorable locations of Mumbai.The Directors of RNA Corp believe that the latest development projects and the re-development projects in the suburbs are making some great investment options in the housing sector of Mumbai.