Commercial Property in Mumbai – where to look for and how!

by Shikha Desai Real Estate Advisor

Introduction

In today’s day and age, there is greater awareness and confidence amongst citizens of India when seeking to invest in new residential projects. In Mumbai, the financial and business hub, there are a host of new apartments to look at.

Thanks to technology. Many of you home-hunters may not be aware, but the new technological developments of today can be of significant help when conducting your due diligence. In this light, government schemes and developers are constantly working towards managing their reputations. These aspects have made the home-hunters of today a lot more confident when buying new homes.

A common mistake that buyers often make is buying property from new or amateur developers. There are good reasons for shelling out those extra bucks and getting your home from reputed and well-known developers.

Reasons why shelling out those extra bucks to reputed developers is totally worth it

Ease of home loan sanction

With big bucks involved when buying a new home, you are most likely to resort to apply for a home loan. Buying a property from a renowned builder eases the sanctioning of loan because financial institutions such as banks often have tie-ups with well-known developers. This reduces the probability of you being victimised to property fraud.

With that being said, investing in commercial property in Mumbai by a reputed builder reduces the lag time along with providing you with peace of mind.

Timely deliverable (project completed on time)

It is in an established and well-known brand’s interest to ensure timely delivery (that is, timely completion) of the constructed property. Amongst many expectations, timely delivery is an important aspect for a brand to live up to its customers’ satisfaction. Making a property available on its due date exhibits the brand’s level of commitment, honesty and dedication.

A non-established counterpart may not be able to stick to timely deliverables.

Therefore, investing in reputed Mumbai residential projects is also likely to ease the financial pain that pertain to EMIs.

Facilities and amenities

Established and reputed developers ensure inclusion of valuable amenities that match the lifestyle and fashion quotients of home-hunters. Luxury apartments in Mumbai from such reputed builders are not just restricted to 24/7 security and parking spaces, but also broader needs such as view, accessibility and facilities such as gymnasiums, swimming pools, community halls, jogging tracks and clubhouse, among others.

Greater Transparency

When buying a property in Mumbai, there is the possibility of you being victimised to financial surprises, that is, the advent of hidden costs, such as legal fees and parking charges, among others. But, reputed builders adopt a transparent approach by revealing these charges before-hand.

Takeaway

Keeping in mind the aforementioned advantages of going through reputed developers, it is worthwhile to shell out those extra bucks.