Being one of the top cities in India, investors have always had their eye on Mumbai. With top-of-the-list companies and real estate investment opportunities, Mumbai cannot be shrugged off by any smart investor. How did Mumbai reach this height to become one of the most sought-after investment destinations?
Dating back to 1000 BCE, Mumbai has been a hub of trade and events. Since then, many of the major political and economical activities were ignited in Mumbai, even during British rule. Though many of these activities spread to other parts of the country, Mumbai left its mark among people to be known for its center of activity and opportunities.
With advances in the technological and trade sectors, the city’s infrastructure was bound to see massive growth as well. This in turn saw a boom in real estate investment opportunities.
How did real estate investment boom in Mumbai?
- Top connectivity: Though Mumbai was known for its traffic, constant steps taken to improve connectivity through the construction of wider highways, metros have brought in ease in accessibility of main hubs.
- Need for out-of-the-state infrastructure: Real estate builders are using their creativity and experimental side to bring in the architecture of international standards. The high demand for investment in commercial real estate has nudged the government to bring in more initiatives like the maintenance of existing infrastructure.
- Option of fractional ownership: With the option of fractional ownership, commercial property investment opportunities are not restricted to the top 1%.
- High return on investment: In an ever-growing city like Mumbai, development has not peaked. This room for growth attracts homebuyers and real estate maestros allowing a good ROI.
- Post-covid boom: From the reduction of stamp duty, large-scale MNCs grabbed onto the advantage they saw with the economical situation. Mumbai has seen a growth that is 30% higher than pre-covid times.
The surging quality of Mumbai does not seem to be affected even while in the midst of a pandemic. All in all, Mumbai’s preparedness to meet the growing demand and offer countless new projects is the main reason why it is the most sought-after investment destination.