Category: Uncategorized

Home / Category: Uncategorized

Knowing how to make profitable investments in real estate is something everyone should learn. To make the investment bear fruits in real estate, where you buy the property will also greatly determine the return you get when you plan to move out. It is common sense that posh localities would fetch higher prices compared to less-developed counterparts. So if you have been looking to invest in real estate in Mumbai, investing in residential property in Goregaon would be your best bet. There are plenty of luxury Residential Projects in Goregaon that you could pick from. This article looks into the reasons why you should buy affordable luxury homes in Goregaon.

1. Commute.

When buying a 1 BHK apartment in Goregaon or 2 BHK apartments in Goregaon the one thing you need to keep in mind is how your daily commute will be.  You don’t need to worry about the decision of buying residential property in Goregaon because the locality is well connected to the entire city which makes the commute smooth. Goregaon is a hub for both western and central railways which means you would catch trains running to the whole city from Goregaon. Luxury Residential Projects in Goregaon are also present around the western express high for you to be well connected to the city making affordable luxury homes in Goregaon even more tempting to buyers. Other roads run through Goregaon that makes the commute to the city a breeze.

2. Locality.

Another bullet point that you should keep in mind is checking the background of the locality if you want to be safe in the 1 BHK apartment or 2 BHK apartments in Goregaon that you just bought. Goregaon has been deemed to be one of the safest localities in Mumbai which means you wouldn’t need to worry about your safety. Other than safety, Luxury Residential Projects in Goregaon have changed the face of Goregaon. These Projects in Goregaon make the locality look well-planned in comparison to other localities in the city. Even the roads in the locality are well built giving the whole area a very posh feel. Buying a residential property in Goregaon as an investment could prove fruitful because the demand is increasing for the properties in the area.

3. Amenities.

Goregaon enjoys an uninterrupted electricity supply to the locality with no power outages. You would be happy to know that Goregaon mostly doesn’t suffer from water shortages which Mumbai is known for. This makes living in Goregaon very easy. Another reason why Goregaon is so awesome is thanks to the amenities it has in its boundary. If you buy a residential property in Goregaon you get some of the best hospitals in the city and most reputed schools in the city. Goregaon has access to branches of every bank you could imagine. Goregaon is both a residential market and a commercial market. Goregaon also has a film city. Just the existence of film city is making the demand for luxury Residential Projects in Goregaon increase. There are plenty of theatres and malls that you could visit and the locality also has many social spaces where you could socialize with your friends.

4. Prices.

Despite all the advantages that Goregaon has, owning a residential property in Goregaon is an affordable affair when you compare it to other parts of the city. Luxury Residential Projects in Goregaon have given way to affordable luxury homes in Goregaon to exist. Even buying 1 BHK apartment or 2 BHK apartments in Goregaon is a lot cheaper than buying a home in south Mumbai. Also if you are investing money in the property; the rates are set to only go up due to an increase in demand which would guarantee your investment would be fruitful.

Since COVID-19 there has been no industry that has been saved from job cuts and the economy itself is struggling to keep up. Most Real estate companies in Mumbai in an attempt to survive have taken their business online. The integration of technology in the real estate business was long due and COVID-19 has made it come sooner. However, the integration of technology is not a piece of bad news, we would even argue otherwise. Let’s take an example of residential property in Goregaon to make you understand how every real estate company in Mumbai could benefit from going online. Let’s see why real estate is going digital and how you would expect to find your next affordable luxury homes in Goregaon online.

Most real estate companies in Mumbai were initially sceptical of the proposition of taking their business online. The same problems and fear could be seen in the real estate agent community of losing jobs and working harder to meet the targets. However, most real estate companies in Mumbai have expertly integrated technology in their daily functioning and are also helping real estate agents to get more optimized. The whole industry has become more optimized since the adoption of various technologies in the industry. Let us see how different it would be for you to buy a residential property in Goregaon.

The move to online has made the job of real estate agent easier and tougher at the same time, the work they need to do is reduced but the things they need to learn to be proficient at the job has increased. So if you are looking for affordable luxury homes in Goregaon, make sure you understand that the person has gone through tough training to be able to pitch you the deal. Learning something new is a tough task. Most employees of real estate companies in Mumbai had to go through this learning phase and real estate agents will also need to go through the same.   But once the learning phase is over it is smooth sailing from there.

The easily available nature of online listings and applications that will help you find these affordable luxury homes in Goregaon have created an opinion among people who don’t know how real estate functions that real estate agents’ jobs are now becoming redundant. Real estate agents are the bridge between the buyers and every real estate company in Mumbai. As soon as buyers choose a residential property in Goregaon and want to look at it the process is handed back to real estate agents. Cooperation with a real estate agent becomes necessary to know the inside-out of real estate property in Goregaon and strike a price negotiation to get a good bargain.

Real estate companies in Mumbai can now benefit from better machine learning processes and AI to optimize their strategies to find newer leads and come up with ways to close their current deal more quickly. Their years of experience are data points that they can use and the machine will give them the best way to tackle a deal. The recent pandemic has accelerated the proliferation of tech in real estate and realtors have benefitted big time. With the aid of virtual reality, 3D mapping, screen-to-screen video chats, and Digital Transaction tools, real estate agents have been on their toe to keep themselves in business. Their life has become more organized and efficient. They can give more time to their family now, enjoy the delights a household brings and earn more commissions by closing a far greater number of deals than before.

For better or for worse technology has come into the real estate circle and has quickly gained favor with most real estate companies in Mumbai.

Mumbai is the place where real estate developers look to understand upcoming trends in the real estate market. And Goregaon is the suburb in Mumbai that you should be looking forward to if you are interested in buying a real estate property. Even after witnessing a major slowdown, Mumbai has not seen a complete stop which shows how strong the real estate market is of the city as it is evident by upcoming luxury residential projects in Goregaon. The good news is the winter is coming to an end for residential property in Goregaon and now would be a good time to buy one if you want to invest in real estate. Many affordable luxury homes in Goregaon should interest you if you plan on making a real estate investment that would give you the best returns on your investment. The reason why Mumbai’s real estate market would be among the first to make a recovery after the slowdown the market noticed is that the developers active in the city have taken proactive steps to bring people back to buying houses. With all said and done, let us focus on why it is the perfect time to purchase residential property in Goregaon.

It seems the real estate market is not getting a break from bad luck; first, the law changes, and then the pandemic lockdown has taken the strongest hit on it. But as the saying goes, once you hit the rock bottom there’s only one place to go, up. The demands have seen an increase in affordable luxury homes in Goregaon and to keep up luxury residential projects in Goregaon are being planned. The prices are also starting to get stable and it is predicted to finally see an upward trend start soon. But the new lowered prices have given rise to more demand from the consumer space. Other suburbs of Mumbai are also performing well during this revival of the market. The market is expected to recover way quicker now due to an overwhelming response from the consumers.

The pandemic has slowed down the real estate market but the slowdown is temporary, this means the demands have only grown and it is just the lockdown that is preventing the market from selling the units to consumers. The residential property in Goregaon that was projected to be sold off this year has not been possible but that’s mainly because the consumers can’t step out of the house. One of the hardest hit and fastest to recover markets was the real estate market in Goregaon. The pandemic has opened up the eyes of people who were renting and have finally made them go ahead and purchase a home for themselves. People have been looking up luxury residential projects in Goregaon and have been looking for affordable luxury homes in Goregaon to get the best value for the money. This has given hope to every real estate company in Mumbai and they now believe that the market will grow back to its former glory soon.

Because of the slowdown, the prices were dropped for the property which had seen an increase in demand. The seeds that were laid by the government to promote more real estate sales in previous years are slowly starting to bear fruits. Due to the current scenario and attractive prices the younger generation is moving away from rental and is finally buying.  This will prove to be a vital factor for the revival of the real estate market in Mumbai.

So in conclusion, is this the right time to buy residential projects in Goregaon? Yes, the real estate market is still strong for Goregaon, and right now is a good time to invest because of the attractive prices and chance of getting a high return on investments.

For people looking for a house in the city, the suburb known as Goregaon is where they are flocking towards. With new residential projects in Goregaon being developed every day to satiate the demand from people, you can understand the level of growth that the suburb is noticing. Not only people from middle classes have a place in Goregaon but also people who are looking for luxury residential projects in Goregaon can find a house to suit their taste. The presence of these luxury residential projects in Goregaon tells you that the locality has caught the attention of influential people as well. People are throwing their money to buy a residential property in Goregaon. But what is the appeal that Goregaon has for the real estate investors? Let us tell you why Goregaon has become a favourite of home buyers and investors.

1. Goregaon is well connected.

Goregaon railway station is one of the biggest railways stations along the western line. Goregaon can even become home for people who have travelled to the harbour line to get to their jobs because the railway station acts as a hub for the central and western line of Mumbai. If you buy a residential property in Goregaon you are also well connected to most of the city through roads. You are blessed in terms of transport even more; Goregaon also has a hub for the bus that has busses running to almost every part of the city. Goregaon has 2 major roadways passing through it i.e. Jogeshwari- Vikhroli link road and western express highway other than that SV road also run through Goregaon which gives it excellent connectivity to most of the city.

2. Perfect location.

Goregaon falls right in between 2 of the most influential suburbs of Mumbai i.e. Andheri and Borivali making it a perfect location for people to buy a residential property in Goregaon. Goregaon is also pretty close to major commercial areas of Mumbai like Andheri BKC and Bandra allowing people to stay close while also having a good lifestyle if they invest in luxury residential projects in Goregaon. Goregaon is also home to huge multinational companies. Top dogs at these MNCs like to stay close to their place of work which makes them invest in luxury residential projects in Goregaon.

3. A suburb with amenities.

Goregaon has many malls scattered in its border. Some of the best malls in Mumbai city can be found in Goregaon. The best brands and well-made multiplexes can be found in these malls in Goregaon which gives these malls a charm. When you buy a residential property in Goregaon you need to understand that you are making a smart move where safety is concerned. Goregaon has some of the best hospitals in the city on offer that you can use during an emergency. Even if you have children you don’t need to worry because Goregaon has some of the best schools to offer your kids the best education possible. Goregaon is like an all in one package where amenities are concerned about making new residential projects in Goregaon that much more desirable.

4. Hybrid market.

Goregaon is not only well known for residential real estate projects but also commercial real estate projects as well as making the real estate market in Goregaon a hybrid market. This makes both commercial and residential investors interested in investing their money in the suburb. Another big attraction for people towards Goregaon is the presence of the film city. The actors who work on the sets of film city have made the demand for luxury residential projects in Goregaon rise. This is why the prices of Goregaon were stable while the rest of the city saw a drop in the prices.

5. Return on investment.

Any investor who invests money in a project expects a high rate of return. In the grand scheme of things, Goregaon’s real estate is relatively new when you compare it to the rest of the city. The biggest growth in demand in the city can be seen in the demand for residential projects in Goregaon. Investing in a new residential project in Goregaon now would yield some of the best results for the investors. And investors have taken a notice of it which is further driving the demand up for flats in Goregaon. Investors have seen an 8% increase in the prices of the residential property in Goregaon this year. Despite the poor economy, the amount of growth Goregaon is showing is astonishing.

6. Goregaon has a booming real estate market.

Goregaon is getting attention because of its sound infrastructure and comparatively affordable property prices, encouraging developers to launch new apartments here. There are around 169 projects in the locality, of which 112 are ready to move in and 45 are under construction. People are looking to take advantage of the situation and get their money invested in new residential projects in Goregaon where they are guaranteed to see growth in their investments.

Given the reasons, it is now easy to understand why Goregaon has become the best place for real estate investors to invest their money in.

 When you buy a residential property in Goregaon you might become a homeowner but being a happy homeowner might take you some more research before buying. For the home-owning experience to be delightful the flat that you buy should come with amenities. Not only should the luxury residential project in Goregaon that you buy your house be loaded with amenities and also the locality that you buy your house in. But what amenities should you look for when you buy a luxury residential property in Goregaon. Let us have a look at some of the amenities you should look for in and around a new residential project in Goregaon that you plan to buy your house in.

1. Car parking.

When people buy a new house they usually buy a new car with it as well. Regardless if you own a car or plan to own one in the future knowing about the parking facilities in the luxury residential project in Goregaon you plan to buy your house could help you save yourself a lot of hassle later on. A car is an essential investment for the family for whom you bought residential property in Goregaon. Not having a proper car parking facility could lead to your new car getting damaged due to various reasons and it hurts when you see your car damaged due to no fault of your own. Making sure society has proper parking space on the premise could help you avoid such unforeseen events. Looking for a parking space in the society is a must when you buy a residential property in Goregaon.

2. Security

When you buy a house in a new residential project in Goregaon make sure you check for the security the society has to offer. New residential projects in Goregaon require the entry points to the residential area to have fingerprint scanners, locked premises, and CCTV cameras by law. Having a secure society not only means you can rest easy but also that you don’t have to worry about your family’s safety. Security is one of the most important amenities that you should look for when you buy a residential property in Goregaon. Having security becomes even more important for people who have old people and young children as a family in their household because they are more susceptible to crime. Also, look for societies that have a lot of security guards manning every entry/exit point of society.

3. Elevators

If you are planning on buying a flat in a luxury residential project in Goregaon, the elevator is one of the more important things to look for because these projects are usually high rise structures. Look for residential projects in Goregaon that offer more than one lift and the lifts should have a large carrying capacity. It is annoying to wait for the lift especially when you live on higher floors because it becomes too tiresome to climb the stairs. A taller building means more people using the lifts and the more lifts make sure that people don’t need to wait for a long time for a lift.

4. Kid’s area.

Most new residential projects in Goregaon offer space for kids to play within society. If you are buying luxury residential property in Goregaon, you might have bought the flat for the whole family to be happy and kids are an important part of that family as well so we must not forget about them. A play area in the society means your kid can play as much as they want to without you worrying about their safety. Your kid won’t need to leave the society premises to enjoy some physical activity which is much needed for a growing child.

5. Market.

When you buy a flat in a luxury residential project in Goregaon, make sure that the market is close to your new flat because of the convenience. Having a market place nearby means you don’t spend a lot of time trying to get daily household items or search far and wide to get them. The convenience of having a market nearby cannot be taken for granted when buying a residential property in Goregaon. So before you buy a flat make sure you scout the area for what is available in the locality as well.

6. Infrastructure.

You should look for the facilities that are available around the locality that you buy the residential property in Goregaon in. When you buy a residential property in Goregaon make sure the house is well connected to the rest of the city and travelling to other parts of cities is easy. The locality should have good public transport and road infrastructure. You should also look for social infrastructures like hospitals and schools because of the convenience and safety of yourself and your family. these amenities cannot be taken for granted not only are they useful during emergencies but having these amenities also drives the prices of the house quite a bit.

Mumbai is the city that runs on overdrive 24/7 and Goregaon is a suburb that has quietly been growing in prominence and is becoming one of the high demand suburbs. People have been flooding in from all around the country to fulfill their dreams of being successful which has created a problem for the city to house all these people who are coming in. people prefer buying residential property in Goregaon. This demand has prompted a lot of people to even buy flats in new residential projects in Goregaon as an investment. The whole country follows the trend that Mumbai starts when real estate is concerned. This makes Goregaon a key player in shaping the whole real estate market just because of the demand it is seeing. In recent years Mumbai has many luxury residential projects in Goregaon being planned and going under construction. Both commercial and residential property in Goregaon is in high demand. People should invest their money because the graph for returns on investment is only set to go up. 

1. Goregaon is the futuristic real estate market.

The real estate market of India has seen drastic changes and Mumbai has been one of the biggest players in influencing the change. Real estate developers are coming up with new residential projects in Goregaon because of the demand. Construction of Luxury residential projects in Goregaon has also drastically increased. New residential projects in Goregaon have become experimental and are bringing the consumers world-class amenities and integrating them into the houses they build. Buying a residential property in Goregaon now comes with a children play area, swimming pool, a social club, and a senior citizen corner. New residential projects in Goregaon are built with society kept in mind. These amenities are hard to find and are in big demand.

2. Goregaon is part of a commercial hub.

Mumbai is a commercial capital of India and is connected to most of the world financially Mumbai is a perfect city to start your business and try to make it among the top players. Because Mumbai has so many opportunities for people to take advantage of people to migrate to Mumbai from all around the country. This also means there is a huge demand in every sector of real estate markets. Goregaon is providing a place for these newcomers in the city to stay and make their dream come true.

3. Good connectivity to the city for a suburb is a must.

The days of being stuck in traffic are coming to an end. If you buy a flat in new residential projects in Goregaon you won’t face the trouble trying to reach any part of the city. The traffic has become manageable throughout the city and with more alternative public transports to choose from like metro, monorail, busses, and the local trains the city is very well connected. One of the biggest needs of a person who lives in the city is to be well connected to every part of the city no matter where they are within the city. The connectivity is drawing more people into the city which is creating more demand in the real estate market which will eventually lead to the market becoming successful to the investors.

4. Guaranteed return on investment.

Anyone who invests money in anything expects returns on the investments. Goregaon’s real estate market has a Midas touch; anything you invest will become gold in a short time from your investment. This is why real estate developers in Mumbai are coming up with new residential projects in Goregaon giving it a strong foothold in terms of real estate investment as it continues to develop and attract many potential homebuyers.

5. Goregaon’s houses are still light on the pocket.

With real estate purchases costing more than anything else they will buy in their lives, Goregaon is a breath of fresh air. But Goregaon has come as a solution to absurd property prices in Mumbai with its affordable residential property in Goregaon. Moreover, affordable luxury homes are also becoming popular among many city dwellers as they promise a lavish lifestyle without compromising on the budget. This is making Mumbai even more desirable for investors to invest their money into the city.

6. Goregaon has a new infrastructure.

Because people from all over the country visit Mumbai in search of opportunity the infrastructure has to keep itself evolving to keep up with the demands. Lately, the development of Mumbai has been much quicker than the rate at which the population grew giving it an edge. To support the new population there have been multiple infrastructure programs that have gone under construction and much more in the tube ready to be launched. Goregaon is one of the few localities that have seen almost the entire new infrastructure serving it. The real estate prices in Goregaon are also going up due to this.

All of the reasons combined make Goregaon a lucrative market for investors to invest their money and buyers to buy a house. The growth of the property market in Goregaon won’t stop now.

People now have 2 different lives that they are living simultaneously 1 being the real-life and the other being the virtual life. The virtual realm has become a completely different entity and can help you find almost anything you can imagine. People are lazy and the idea of not leaving their house to get stuff for which they would have to visit a physical store is appealing. Nobody can be against the internet which is going to be the future for all businesses. This has seen a mass migration of businesses towards the internet because early adopters will be able to survive this shift. Real estate builders in Mumbai are also rushing towards the digital platform to tap into the complete potential of the internet. Mumbai has been the golden child when it comes to real estate. Real estate developers in Mumbai are aware of the profits they can achieve if they go digital.

During this pandemic, the movement towards digital space has only increased because people are now spending more time than ever on the internet. Real estate Company in Mumbai is now using the digital platform to advertise their projects to people online. Digital space is the saving grace that every real estate developer in Mumbai was wishing to save their business during a pandemic. The biggest question now is how new Mumbai projects have digitized the real estate experience and what further improvements can you see. Maybe soon, you wouldn’t even need to step out of your house and do everything from house tour to buying the house online. Let us have a look at the effects technology is going to have on real estate builders in Mumbai.

1. The process of buying a house will be lightning fast.

Real estate builders in Mumbai understand that every extra minute spent dealing with a house is equal to the minute they could be selling someone else a house. People don’t even need to step out of the house to buy essentials now everything can be delivered to you. Real estate Company in Mumbai who is on the internet has reported an increase in leads for their listings since their move towards the internet. Both buyers and sellers are extremely happy conducting their business online. Both buyers and sellers save a lot of time, buyers shortlist the property they are interested in an instant and the seller can contact them immediately once they know about their interest. The Internet is much faster compared to the method of spreading the word around through agents.

2. Staying in the comfort of your home.

For an anti-social being like myself staying at home is the epitome of luxury and if I want to buy house real estate developers in Mumbai on the internet have me covered.  How easy is it to sort or filter things when you buy your next property? Sort it from your location, income, preference, requirements, and that too from the comfort of your homes. These tools on the internet website of developers have transformed the way we used to find properties. The Internet opens up a floodgate of choice for buyers to pick from and not act under peer pressure.

3. Less chance of buyers being fooled.

Many times people have reported that different prices were quoted to different buyers for the same property which feels shady. On the internet, this practice is not possible because the prices being quoted will be the same for everyone. This is especially beneficial for new real estate builders in Mumbai to have a fair competition. This is also helping the buyers to better understand the fair prices of the property and invest in the new Thane property project accordingly.

4. Use of Virtual reality to sell real estate.

Previously we could only check out the photos of a property which would not give a fair view of the house. Lately, many real estate developers in Mumbai have integrated virtual reality tours on their websites which a person can access at their home. Today people can take a virtual tour of the house before buying, can virtually set up their home and see the final layout, and much more. Virtual reality helps you better understand the layout of the house.

5. Quicker replies to queries by people interested to buy property from you.

Real estate companies in Mumbai can benefit from quick responses to basic queries with the help of chatbots. This is a feature that has gained a lot of popularity in recent years and is now favoured by developers. You can now easily check the availability of a property or the pricing of a project with the click of a button, whether you are an NRI planning to invest in real estate or a first time home buyer.

There are many more reasons why real estate developers in Mumbai should look forward to integrating digital trends in their business and marketing strategies. The digital space is the biggest blessing to the real estate market that real estate builders in Mumbai should take advantage of before it gets too competitive.

If you are given a large amount of cash and asked to spend the money in one day most people would go out and buy a house because buying a house is an expensive affair. So when you are out buying a residential property in Goregaon you need to look carefully at the decision of you buying a house. Goregaon is a goldmine when it comes to real estate. There have been new residential projects in Goregaon coming up around every corner in the suburb. Many luxury residential projects in Goregaon have also shown up in the suburb due to the demands of the consumers for such properties. With such a wide array of choices let us look at points that you need to look for when buying a residential property in Goregaon.

1. Understand your financial situation.

Sounds like a piece of generic advice before you make any purchase but this advice can save you from a life of debt. Before buying a house make sure that you understand your financial situation and are not impulsively buying a house because you don’t like it where you are living (experience). You will be in a world of trouble if you don’t understand the financial situation you are in. make sure you have enough savings left even after the down payment of the residential property in Goregaon you want to buy. Many times your budget will truly make you understand what you need out of your purchase, which neatly brings us to our next point.

2. Understand your needs.

No person is made of money and if given the chance they will look for ways to save money. We aren’t telling you to be a miser when it comes to spending money on your flat, we are just advising you to be smarter. Your biggest savior from financial difficulties would be your self-control. While we understand that buying a house in a luxury residential project in Goregaon is tempting but is it necessary? Look for a house that will have all the space properly utilized by you rather than a palace that will have almost 80% of the real estate that you pay for unused. So how do you finance the house once you know what residential property in Goregaon you should invest in?

3. Look around the market for banks that are giving you a good interest rate.

Now that you know your needs and are very much excited to finally jump out and buy a residential property in Goregaon but wait there are more things that you need to take care of. You will need to take out a loan if you want to buy a house in a new residential project in Goregaon.  This is where you would want to be careful. Look for a bank that is offering you the lowest interest rate that you have to pay. You would be surprised at how even subtraction can help you save a fortune by the time you are done paying back your loan. While we are talking about saving fortune are you also interested in making one?

4. Research your real estate company that built the project in Goregaon.

Did you know that the real estate market also has brands and functions the same way you would expect a fashion brand would function? Invest your money in branded new residential projects in Goregaon if you have to invest your money. The time comes for every property to be sold to the next family. When the time comes for you to sell your property to the next family, owning a house in a branded project will help you get a higher rate than the market. Brands are always in demand so take advantage of that.

Other than these points you can hire a lawyer to look at the paper works carefully to make sure that the builders aren’t being sneaky by adding some bad clauses into a huge pile-up of paperwork. Follow these tips and you will be set to buy a house in Goregaon. 

Every human dream of buying a dream home, it might even be the biggest investment they make in their lives. For the amount of money they are going to spend buying the house they need to know everything possible for them to have a successful transaction. But every investment in life needs to have a profit or else it’s not a good investment. So if you have been looking to invest your money by buying a residential property in Goregaon or some other big suburb of the city you might want to read the tips below.

1. Always check the background of your real estate Company in Mumbai off whom you are buying the property.

Gone are the days when anyone could build a brick and mortar structure and call themselves one of the most reputed real estate builders in Mumbai. Real estate developers in Mumbai have created a brand using their name. They have risen to brand status because they keep churning out good quality products. Now when they are known as a brand their name also adds value to the property. This means the name will hold its value even when you decide to resell the house to someone else. You get a big boost in your investment just by investing money with real estate companies in Mumbai that is considered a brand.

2. The locality also plays a huge role in determining your return on investments.

What part of the city you buy your house is also important when it comes to investing your money in real estate. Just like builders’ names a locality has a reputation it carries. Posh localities which are well planned will cost a lot more than houses that are in back alleys and shady parts of the city. We suggest that you buy a residential property in Goregaon as it is one of the best places where you can invest your money. The locality is well planned with a lot of posh localities within the suburb. You should look at the demand and the reputation of the area before you invest your money in real estate.

3. Keep yourself updated with upcoming infrastructure.

The third biggest contributor that helps raise demand while also adding value to the property is the infrastructure that is around the property or is about to go under construction. Prices of residential property in Goregaon and other suburbs along the western express highway have seen a boost in their prices since the metro went under construction because the demand grew for houses around these areas. Before you purchase the house look into what upcoming infrastructure is promised by the real estate developer in Mumbai and the government while also looking for already existing infrastructures.

4. This one is for your financial situation.

Before you set out to buy your dream house make sure you haven’t done any big purchase for which you borrowed money from the bank for at least a year before when you plan to invest in real estate. Make sure your debt is paid and are ready like atlas to take the huge financial burden on your shoulder that will stick with you for at least 10 years from the day you take it. Understand your financial position to make sure that you have enough savings even after you pay the down payment for the flat. Beware of banks that charge high-interest rates. If you even save 0.05% in the interest your saving would be in lakhs by the time you are done paying for the house.

Follow these very basic steps to make sure that your real estate investment is fruitful.

Due to the ongoing pandemic called COVID-19 the economy worldwide has taken a hit. Even India has not been spared by the wrath of this pandemic. Every sector has seen the impact of this pandemic. The real estate sector which is one of the biggest contributors to the Indian economy has also taken a massive hit. It would be an understatement to say real estate builders in Mumbai are struggling at the moment. If real estate developers in Mumbai who are thought to be cream of the crop are struggling you can guess what the market is like for the rest of the real estate. Let us see what impact COVID-19 has had on different sectors of the real estate market.

1. Impact on the housing market.

2020 was expected to be the year that the industry was expected to bounce back and recover but due to the ongoing pandemic, the recovery has been halted even after new initiatives that were launched by the government to encourage people to buy a property. There are a few anomalies though. Residential property in Goregaon still is in high demand and has seen the market remain steady for them. Due to pandemic lockdown, the construction of new projects has come to a complete halt. With everything being shut it is easy to understand why we cannot expect the revival of the real estate industry this year.

2. Impact on homebuyers.

People just before the start of the lockdown were tempted to buy houses because of the tax rebate and other offers that were given by the government to home buyers. With property seekers unwilling or unable to undertake site visits, this could result in the postponing of purchase decisions. House buyers are also not sure about the security of their job and have postponed the plans of buying the house to a later date when they are sure that their job is secured. The majority of people have put aside their house-buying plans for at least the next six months until the market has a chance to open up again.

3. Impact on real estate builders in Mumbai.

Real estate developers in Mumbai were holding onto unsold stock worth rupees 6 lakh crores according to data from various developers. The import of raw construction materials has been delayed and the construction activities have come to a complete halt due to lockdown. However, the government sympathizes with the developers and has come up with many plans for the real estate company in Mumbai to survive. The government is offering a lucrative stimulus package and is also giving people an EMI holiday during which the developers need to just pay the interest.

4. Impact on the commercial market.

Companies worldwide have announced remote working for employees to contain the virus spread, triggering a debate if work-from-home could replace office spaces in the future. There are chances of companies giving up on office spaces entirely. Whether it happens or not the predictions seem to be gloomy. If corporations truly adopt work from home ideology the commercial real estate can see a big dip in their revenue soon. There have already been offices that are giving up on the idea of office space and have decided to make work from home the centre of their functioning. It is expected to see a slowdown in growth momentum that the commercial real estate market had.

It is also important to note that even though you might see some decrease in prices the prices won’t be lowered significantly as the cost of building the project will increase significantly. COVID-19 has affected the real estate market but like a phoenix, it will rise again as soon as we move on from this pandemic.