Rising Graph of Mumbai Real Estate

Mumbai, the island city is a financial hub of the country and a home for the glamorous film industry - Bollywood. Mumbai always had its own charm to entice people. It is also called as the 'city of a dreams' or 'the city that never sleeps' since it is carrying millions of dreams and embracing millions of people every day. Yet, this piece of land makes room for all.

Everyone dreams to buy a house in Mumbai, but the dreams remain unfulfilled in this city, and the sky-high real estate market seems to be slipping away from the hands of the ones who see it every day. But that doesn't deter real estate developers in Mumbai from launching more residential and commercial properties in the city. How is the graph of Mumbai real estate always high? Let me take you through the reason for the forever upward growth of Mumbai real estate.

Real estate of Mumbai

Mumbai, the land surrounded by water on three sides shows vertical growth from south to north. After creating infrastructure in South Mumbai, the developers had to push themselves to North Mumbai with more projects. The city kept spreading its arms with more and more real estate projects coming in, luxurious as well as affordable. The real estate developers in Mumbai are trying to cater to all type of buyers in the city and with new schemes, they are encouraging the buyers to take a step forward to achieving their life-long dream of owning a home.

New development in a housing scheme

There have been several developments in the housing sector and the government aided schemes have really helped in bridging the gap between the buyers and the real estate developers of the country. The PMAY (Pradhan Mantri Awaas Yojana) scheme by the government has a vision of a home for all and the introduction of RERA has brought in more transparency and will also take to task the real estate developers who miss timely delivery of possession. The idea of the redevelopment of the old building (and Mumbai has many) has also encouraged the developers to give old structures a new lease of life.

Corporates and Connectivity

The mushrooming of the ever-increasing corporate lead to migrants in the city, thus increasing the demand for rented homes and also for more affordable or 'value-for-money' housing. This, in turn, encourages the builders & developers in Mumbai to bring in more and more residential projects. As one can see, this is a cycle, with interdependent factors.

These are some of the primary reason for Mumbai's real estate to always show a rising graph. Mumbai has always been welcoming real estate developers and home buyers with new projects to sketch a new landscape of the city with a forever changing skyline.