Why Should I invest in Mumbai Real Estate Market
Maharashtra is geographically connected to many other states and is situated at the west coast of India. the state shares border with Gujrat, Madhya Pradesh, Karnataka, Andhra Pradesh, ChattishGadh, Goa, and union territory Dadra Heaveli.
There are many sectors for investment but Real Estate is the one, if people will invest so investors not only protect the huge amount but also after some period of time can make a huge benefit.
Real Estate is a basically little a bit unpredicted sector where no one can judge exactly about the future but It doesn’t give you a loss figure. Sometimes it may take more longer period to meet your expectation.
You may have read in many articles where the potential of the real estate shows on a different level and many world’s richest person who are because they invested in real estate at the right time and right place.
If you notice data in current time so it shows you not a good feedback only 2% of return does show in the real estate market. So it’s better for you to fix the amount in the bank and get a return of the 6-7%.
All the sectors have a different ways of generating profit. Many who has invested in Share Market or Mutual Funds or use any other different modes of profit-generating sources.
I believe that Real estate is one that kind of sectors where you can invest your amount for making a good profit and your investment amount is also safe and secured. It is somewhere assured about not to face loss figure at any moment.
We all have just faced the pandemic period and realized the power of real estate and investment in this sector.
All the sector was being affected in this situation but only this sector was booming by this tough situation. The most selling property is recorded in the year 2020-2021 in Maharashtra.
Real Estate report
As per the data of by CRE Matrix, 1,214 luxurious apartments are sold of worth rupees 20,255 Crore in Mumbai 2021 against 598 units worth Rupees 9872 Crore in 2018. The top luxury micro market of Mumbai is Worli, Lower Parel, Bandra, Tardev, Prabhadevi & Andheri
Real estate investment is one of that kind of the market where if any recession does come then there are minimum chances to make any effect over the real estate price so it remain unchanged or same as per the current market (worse situation can be then only when you want to sell the property at below the market rate because you need of the amount requirement) but it never goes below the market amount and even though in that though situation you can earn at least rent amount from the property.
In 2019, the Real estate market size was only 12,000 Cr. which will reach 65,000 Cr. by 2040. Now Real estate market of India is expected to reach $1Trillion by 2030 which is now in 2021 US $200 Billion and contribute 13% of the GDP by 2025.
Investing in Mumbai Real Estate Market
As we are all aware about the increased stamp duty charges which help the state government to reach on the new landmark of the revenue collection worth rupees 3,245 crore in June compare to the first two months of this collection.
Last year it was collected around 3835 Crore and In this year it has been collected more than 7856 crore which increased the collection more than 113% as compare to the last year. However it was not expected because of increased by 5% of the Ready Reknor Rate and 1% metro cess which may impact on the registration for first three month but it doesn’t make any impact on the registration instead of this cover 25% of yearly target in just 3 month duration.
According to data of last 6 months more than 2 lakhs of registration has been done. Which was not the case early last year. There another data says about the real estate sector where find the report about property search results which has been increased by 16.9% quarter on quarter and 27.7% year on year. Property listing ratio on yearly basis has also increased which is around 16.2%.
This report shows the upcoming futur of the real estate market in Maharashtra which has a great potential to generate a good profit
Mumbai is the state capital of Maharashtra and commercial capital of India. The city is home to the major global banking and financial Institution. Pune is emerging another Institutional hub of Maharashtra.