Government Support to invest in real estate Mumbai
Investment in real estate is always termed as wise decision with maximum profit in return. Any real estate investment in metro cities of the country is a dream of every investor and guarantees a huge return of the money invested in the property. The prices of the property are bound to grow with time due to rise in the demand of the property. Mumbai, a dream city for any aspirant who want to grow in life, fulfill dreams. Many people across the country moves towards Mumbai city in search of better paying jobs and grow in business and city welcome everyone with open heart.
Property rates in Mumbai are very high and not easy for everyone to . Due to increase in demand by professionals who are working in Multinational companies in Mumbai, the developers are building luxurious projects which are affordable easily by a middle class family in the city. These residential projects are dream house for families buying their first house in the lifetime.
Government’s role in Mumbai real estate market
Even residential plots are available on the outskirts of the city where you can build your own individual house matching the requirement of family members. But you need to understand that the prices of residential project apartments are growing rapidly in comparison to residential project available in the city.
The projects developed by the developers are equipped with all types of modern facilities which provide a comfortable stay for the entire family in a peaceful environment of nature, but still easily connected with best areas of the city. Whereas residential plots require lots of time and money investment to build your own house. You need to check all facility availability which is very costly and not easy for everyone in today’s life. An investor belief in the city that the property prices will surely raise, resulting in the growth of property value is always proven correct since years.
The demand for commercial property in Mumbai is also on the rise due to various corporate and businessmen moving to the city. Experts advise investors with a shortage of fund to rent a property before blocking their whole investment in real estate instead of the business. There are various shopping malls and multiplexes present in the city which offer huge employment to the residents of the city.During the construction of the building, huge labor is required, which is fetched from the outskirts or a slum area of the city, providing employment opportunities for the labor class people. So you can say that indirectly real estate sector is helpful in the economic development of the city. Even the government is of the city with proper road connectivity, the light water supply in the city for comfortable stay arrangement for the real estate investors.
Support from the Government
Various banks and financial institutions are offering loans at attractive interest rates for the investors who are unable to buy their dream houses due to shortage of funds. These loans are repayable in the form of monthly EMI for a fixed number of years .The loan is beneficial for tax payers and support a lot while investing in real estate market. You can check the prices offered by various banks and financial institutions and compare the rates and chose the one with minimum interest charges. The loan can be sanctioned very easily depending on your yearly income and installment paying capacity, which is decided by the government and the bank only. The lender team will visit the site or property analyze the cost of the property along with your yearly income and loan will be sanctioned to you in couple of days after some paper work completion.