Investing in real estate gives you massive returns especially in a place like Mumbai. The high estate rates compel you to consider several factors such as the return on investment.
You also need to ensure that the property you purchase justifies the price by providing various facilities, like in the case of Utsav City Panvel. You must keep the following things in mind before investing in real estate to maximize your return.
1. Budget – Determine how much initial investment you have. If it is less than the cost of the property; you can opt for a home loan with flexible tenure.
Then you only have to bear the down payment and pay EMIs without unsettling your monthly budget.
2. Purpose – If you want to reside in it; consider factors such as the size of the property, ease of access to your work location, and the surroundings.
Consider the appreciation value if you want to resell it in the future. The demand must be considered if you are investing in the property to rent it out.
3. Location – Regardless of your purpose; location plays an important role in determining the property’s value.
Properties like Utsav City in Panvel are well connected and close to almost all the prominent locations and ports. This makes it worth the investment.
4. Documentation – Legitimacy matters the most; so ensure that there are no legal disputes over the property. Approval letters, NOCs, certificates from concerned authorities (like municipal corporation area development, and electricity board) must be in place.
Be it for residential, commercial or industrial purposes; you must consider these things before investing in real estate in Mumbai.
Additional Read – Reasons to Invest in a Property in Mumbai