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Why should you buy a 1 bhk flat in Mumbai?

Mumbai is the dream city that everyone wants to flock to in search of better opportunities. On the real estate map Mumbai holds a prominent position, and it is needless to point out that the city has some of the expensive properties. The price of flats in Mumbai is pretty high, many people feel turned off by the price and they prefer to stay on rent. So given the high price of real estate in Mumbai, should you consider buying a 1 bhk? Let’s find out. Reasons to buy a 1 bhk flat in Mumbai? The biggest reason for you to buy would be your career decisions. Whether you have a job or, you are running a business, if you are going to be living in this city for a long time to come then you should consider looking for a 1 bhk flat in Mumbai for sale. When you are going to live in Mumbai for years to come, it makes sense to invest in a flat. Staying on rent for a long time is only going to be financially draining for you. When you rent a flat you will have to understand that you will have to be ready to pay a hefty amount each month as rent. The rent amount is going to be really high, and paying that amount every month is going to put a lot of financial burden on your shoulders. Furthermore, you have to think of the lease, which will expire and then when it gets renewed you will have to be ready to pay a higher amount. Saving this amount is important, so, if you are staying at Lower Parel on rent, start looking for lower parel apartments for sale. Having your own flat makes sense when you take into account the family aspect. If you are single but have plans to settle down in the future, and you want to get married and have a family then rent should not be your option. You will have to start thinking about having your own place. Especially when you will have more living expenses added to your list, paying the rent might become an issue. The real estate in Mumbai, might be pricey, but if you opt for the home loans you would make a smarter choice. The money you have been paying as rent is just getting wasted, because you are paying that money to somebody else. If you decide to get out of the rent and get your own place then you can use that money smartly. If you start looking for a 1 bhk flat in Mumbai for sale, and find the right one, you can make a down payment and then you can pay the rest of the amount as EMI. The amount that is being paid as the rent could be paid as the EMI, and you will have an asset of your own.

Examine these things properly before buying real estate in Mumbai

Purchasing a new flat, apartment or house is a major decision in one's life. Due to the huge amount of money that it involves, buying real estate is considered an important milestone for any Indian. It also helps us to transition to a more settled lifestyle. Thus, if you plan to achieve this, reach out to the top real estate companies in Mumbai and check out the options that they provide. You need to inspect a lot of things and consider everything carefully before purchasing proper real estate in Mumbai. Here are some things that you need to focus on. Check out these things before you select your real estate in Mumbai Check the legitimacy of the property: Do not get swooned over by a real estate property that is at a massively discounted price. You should verify if the flat, apartment, or house is constructed on legal land authorized by the concerned government department. Apart from authorization, check if the area has been registered and has paid all of its taxes in full. To make this process easier, you can visit a bank and ask them for a loan regarding the property from the real estate companies in Mumbai. They will validate everything before approving the loan. Otherwise, you should hire a reputed real estate attorney or law firm to check all the necessary documents and verify the title deed. Check with the bank for financing: While going through the flat options provided by the real estate companies in Mumbai, ask if they have any tie-ups with banks for a smooth financing process. Banks may also refuse to provide loans for a 3 bhk flat for sale in Mumbai if the builder who made it has a poor reputation in the market and unreliable past project record. It can count as a red flag and may lead result in future troubles. Thus you must avoid making a deal with these developers when you are searching for a 3 bhk flat for sale in Mumbai. Explore the flat location: The interior of the apartment or 3 bhk flat for sale in Mumbai can be decorated by the buyer's wish and can be renovated regularly. But, the location of the flat remains permanent. Therefore remember to move around the neighborhood of the flat to get an idea of the area. Ask the real estate company in Mumbai if there are essential services like hospitals, markets, parks, and transport stations present near your flat. These services will make living in the locality more convenient. Inspect the carpet area of the flat: Normally when we discuss the size of any flat or apartment, it comprises the entire area covered by the flat. It constitutes the thick walls, stairways, and other objects that exist within the flat space. While checking any options of the builders in Mumbai, you should measure the carpet area available within it. It is the free space that is available for living within a flat or apartment. It is generally about thirty percent smaller than the entire flat area that you would have heard previously from the developer or real estate company.

Inspect these things before you buy real estate in Mumbai

Urban cities like Mumbai attract a lot of people as they have a higher standard of living from other parts of the country. Moreover, peoplo also come here to look for better education and opportunities. If you are planning to settle down here, the first thing that you need to do is to check the real estate in Mumbai and explore the options. There are also some things that you need to inspect before you make your decision regarding buying any real estate property here. Here is a list of the precautions that you need to follow while buying a real estate property in Mumbai. Check out this list that you need to inspect while buying real estate in Mumbai Inspect the title deed of the real estate: Before you decide to invest in any new real estate in Mumbai, check if the title to the property is clear or not. You can inspect the title deed by going through the documents and looking for clauses that can confirm if you get the full ownership rights of the flat, apartment, or house. You can even go to the registrar's office to check the legality of the deed. If the flat or property is not completely built, inspect the approved plan: When you decide to invest in under-construction real estate in Mumbai made by the real estate developers, you need to check the approved plans first. There can be situations where the real estate developers complete their projects differently than from the plans approved by the authorities. In such cases, the completion certificate will not be issued by the authorities. Thus, before you purchase a completed flat or apartment, ask the real estate developer to show the occupation/completion certificate. Any remaining dues or income tax issues: When it comes to buying flats, apartments, or other real estate properties, you need to check if there are any outstanding dues on it before finalizing the deal. In case you are not purchasing from real estate developers but a non-resident Indian seller, you may be liable to pay a TDS on the purchase. You need to get a certificate for non-deduction from the income tax officer to prevent this from happening. Pay attention to the ready reckoner rates: When you buy a flat, apartment, or other real estate in Mumbai, you may need to pay a high ready reckoner rate depending upon the size and location of the property your property. This rate is also used to calculate the stamp duty and the registration charges for the respective property. Thus, before you purchase 2 or 3 bhk flats for sale in Mumbai, remember to check the ready reckoner rate, the stamp duty, and the registration fees that you will have to pay to the authorities.

Here are 5 reasons that will make you want to buy a flat in Mumbai

Buying a residential property costs a lot of money, especially if it is in a large city like Mumbai. Thus, it is important to choose a suitable residential flat, apartment, or other real estates as it becomes a significant part of your life. Due to the massive investment it requires, your priority should be to analyze the location of the flat or apartment properly before buying. It is because the location becomes permanent once you purchase it, while the interiors of the residential property can be changed to a certain extent. Depending upon your preferred location, you should contact different real estate developers to know if they have flats available in that area. Let us look at some more compelling reasons that will make you want to buy a residential property in this city. Check out the five reasons why you should buy a flat in Mumbai: It can be considered a high-value investment: Mumbai is the financial capital of India and it attracts a large population every year who come here looking for work and a better lifestyle. Buying residential property from the real estate developers here is a good investment as its value will increase a lot when the city develops more in the future. Thus, the flat becomes an asset and within a few years, its price is bound to increase by a large margin. It can be used as an extra source of income: It is a good choice to buy a 2 or 3 bhk flat for sale in Mumbai even if you are not going to stay in your flat. You can put the flat up for renting and make it your source of income. Depending upon its location, the living space, and accessories provided within the flat, you can charge a good amount of money for its rent. As there is always a high demand for residential property, your flat will be rented out soon. You get a chance to live in a vibrant society: Most real estate developers in Mumbai build their flats in a locality. Thus, purchasing a 3 bhk flat for sale in Mumbai will allow you to live in a community where everyone is close to one another. You will have neighbors from different backgrounds which provides you an opportunity to bond with everyone and develop close relationships. You get most of the essential services and enhanced security: Every flat building has an administrative body that comprises the residents. They charge maintenance fees to look after the problems of the entire building. If there is any problem regarding your flat, you can approach them for a solution. Nowadays, every real estate company in Mumbai installs multiple CCTV cameras during the flat construction while the administrative body also hires security guards to patrol and ensure the safety of the residents. This reduces the chances of robbery or any other illegal activity happening at your place or near your surroundings.

Follow these tips to find a reputed real estate developer to buy properties from.

Buying a flat, apartment, or residential real estate is one of the most crucial decisions of one's life. Apart from providing a living place, buying real estate is also considered a major investment venture. Thus you need to find reputed and trustworthy real estate developers that can provide you with property options in major cities like Mumbai. Here are a few tips that can help you with this. Check out these tips that can help you find the best real estate developers in Mumbai: Do some background research on the developer: Before selecting a real estate developer for buying a flat, apartment, or other residential property, you need to find more information about them. Visit their website and check the company profile and other details. Check their past projects, inspect the constructions and talk to their previous customers to identify the real estate developer's track record. Inspect the construction quality of the developer's projects: By inspecting the construction quality of the real estate developer, you can learn a lot about them. If possible, try to learn about the entire construction procedure followed by the real estate developer when they are constructing upcoming residential projects in Mumbai. From the planning stage, construction period to the delivery time, a reputed real estate developer will complete all these stages within time. They will also be using the best layout designs and building materials to construct the upcoming residential projects in Mumbai. Check the financial backing of the real estate developer: Every real estate developer must have sufficient monetary backing to complete their upcoming residential projects in Mumbai before the time limit. Apart from revenue through the sale of residential units or other types of real estate, you can check the financial health of the builder by going to banks. If the bank agrees to give you a loan to buy the builder's flat or apartment, it means that they have solid financial backing from investors. See if the builder delivers on their promises: While building flats for sale in Dadar or other suburbs in Mumbai, the builder can make various promises related to the design plan to the investor and pre-booking customers. Thus, it is the job of the customer to check if the builder delivers on the promises within the set deadline date. If they do so, then they are trustworthy to deal with otherwise, you should look for other real estate developers in Mumbai.

If you are looking to buy a flat or apartment, take note of its pros and cons first

Living in an apartment has become the norm, especially among people who are working away from their hometowns. Even many nuclear families have started to consider getting a 2 or 3 bhk flat for sale in Mumbai where they can live comfortably and have access to all the essential supplies and necessities. Before you make up your mind to leave your old home and start your apartment living journey, you need to know about the pros and cons of buying and living in a flat or apartment. We have discussed these points below These are the benefits of living in a flat or apartment in Mumbai ● Presence of essential supplies nearby: If you buy a 2 or 3 bhk flat for sale in Mumbai, there is a high chance that it will have various essential services available near the neighborhood. Most builders construct their residential projects near hospitals, transport hubs, parks, malls, schools, etc for the convenience of the flat/apartment residents. ● Proper security measures: Since most flats or apartments are located inside a gated neighborhood/colony, there are more security measures present that deter unlawful activities from being carried out nearby. Patrolling security guards and CCTV cameras are just some of the security features that you can find here. ● Lower bill costs: If you get a 3 bhk flat for sale in Mumbai for your family, you will have to pay a lower bill amount for electricity, water, and other necessities as it depends on your usage level. On the other hand, traditional homes have joint families and thus the essential bill amount incurred is quite large. ● It is more suitable if you plan to live alone: When you move to a new city and plan on working and settling down, you have to live alone for quite a few years at first. Thus exploring 2 bhk flats in Mumbai for sale is a better alternative to living in a large but empty house. Living on rent is also not suitable for a long time and thus you should invest in a flat or apartment when you decide to settle down here.

How to select a suitable floor while buying a flat in Mumbai

Whether it be Mumbai, Bangalore, Chennai, Delhi, or any other major city, there has been a lot of construction of high-rise residential apartments at these locations. This is to meet the housing demand for the growing population here. This trend can be seen in even smaller developing cities. Thus you must select an appropriate floor while looking for 2 bhk flats in Mumbai for sale in a high-rise building. Here are some tips that can help you to choose the correct floor. These factors can help you to select a suitable floor to buy a flat in Mumbai: ● Fire safety precautions: A good apartment building has fire safety precaution systems installed on every floor. Even then, in the case of a large fire outbreak, people on higher floors remain stuck as they cannot escape. The massive height makes it impossible to survive by jumping off and they can only wait for rescue at the terrace if the fire starts at lower floors and moves upwards. Thus builders in Mumbai must provide working fire extinguishers, sand buckets, and water hose outlets on every floor of their high-rise so that the residents can effectively combat the fire and take care of their safety until the firefighters arrive. ● Security and privacy: Buying 2 bhk flats in Mumbai for sale on a lower floor may leave some people dissatisfied. If the apartment building is close to a busy public area, the regular noise can disturb the occupants and make them feel a lack of privacy. Moreover, lower floors can be easily accessed from the outside with the help of external tools. Thus before buying a lower floor flat from builders in Mumbai, check out the CCTV cameras and security guards that can deter the occurrence of any robbery. Also, ensure that the ground-level noise does not reach your flat every time. ● The presence of a suitable number of lifts and staircases: Check with the real estate company in Mumbai beforehand whether the high-rise apartment building where you are looking for a flat has multiple lifts and staircases for the residents to move around easily. The presence of multiple ways allows people to move up or down the building easily, especially if a lift breaks down or one staircase is undergoing maintenance. ● Deviations from the original layout: As a building is constructed from ground level and above, most of the deviations occur in the upper floors. Therefore if you are looking for a 2 bhk flat in Mumbai for sale on higher floors of a building, check if the flat is free from deviations. If it is present, check the clearance notice provided by the relevant authorities to ensure that it is within the permissible limits.

Check out the 3 best locations to invest in flats in Mumbai

Mumbai is a huge bustling city. As the financial capital of India, the average price of real estate here is higher than in other major cities of the country. Yet due to the increasing demand, builders in Mumbai have started to focus on building housing in various areas of the city. This has resulted in the rising popularity of such areas. If you want to invest in a flat in Mumbai, here are three locations that you must check out. These three places in Mumbai are the best locations to invest in flats: ● Vasai-Virar: These two localities are often clubbed together as they both lie beyond Mira Bhayadar on the north of Mumbai. As a suburb of the city, owning property here is the same as owning real estate in Mumbai. The area here is known for its low-cost homes. Therefore many people looking to invest in flats and other real estate have shown an interest here because of the low average property rates. The area is also famous for its beautiful landscapes, clean atmosphere, and natural beauty. ● Goregaon: Goregaon has become one of the best residential hubs of Mumbai in the past decade. There has been a rise of social infrastructure around the area that has attracted people to invest in flats around this area. One of the benefits of living here is that Goregaon can be easily accessed from any part of the city. This area is also a neighborhood in Mumbai. The massive development of commercial industries in Goregaon has also increased the demand for housing in this area. ● Madh Island: This area has mostly been away from the limelight and has relied on investments from non-residential Indians (NRI) and other hardcore real estate developers. The presence of four and five-star hotels in the area make it a great getaway destination. While traveling to the main area of Mumbai can be taxing, Madh Island is the perfect place to buy a flat if you want a peaceful place to stay and enjoy the sunset on the beach. The property rate here is lower than in Andheri and other major suburbs of Mumbai. These are some of the best places to buy a flat in the upcoming years. Get in touch with a trusted real estate company and check for available flats today.