Although Indian real estate scenario has been a tumbling ride with occasional crest and troughs, the upcoming time could be a great news for investors. Especially in Mumbai, which is blooming with hundreds of new development projects. In a report by Forbes, it is clearly mentioned how big-time investors are making their move to strengthen the property sector of India.
In the recent turn of events, when the demonetization of certain currency notes took place in India, the overall business growth was hit, but the country is expected to overcome it within the first two quarters. So, now is the time when you can consider investing in Mumbai’s promising properties and find the home you would adore for your life.
Let’s look at how NRI real estate brokers propose, investing in real estate in Mumbai can be one of the better decisions you would make.
World’s biggest investor, Blackstone, after staying away from India’s property scenario has now finally showed some interest in it and has made promising investments weighing as much as $600 million. Future plans of Blackstone signify setting up of a local REIT listing, as this report by Times of India states.
Next comes Brookfield Asset Management, who have allegedly invested a hefty amount of $1 billion in Mumbai’s real estate. Both of these headlines point to the fact that Mumbai is receiving serious consideration from all over the world and the growth of property rates will be inevitable, telling us that NRI investment in real estate would be worthwhile in the coming few years.
With a horde of MNCs looking to set-up their offices in the financial capital of the country, the growth of business parks and corporate office spaces has been on an all-time high in Mumbai. This is being backed by development in Mumbai’s outskirt areas where property is seeing new light in both commercial as well as residential demands.
The implementation of GST in most parts of the country has resulted in huge outcry due to its complicated system of operation but in Maharashtra, it is supposed to bring an air of freshness for investors. GST will enable easy and profitable sale of properties in Mumbai that fall under the status of “completed projects”. For the projects that are still under development will benefit from the tax relaxations on the raw materials levied by GST. This is good news for NRIs as well as domestic investors.
All of the above listed factors contribute towards a future full of good returns. Mumbai’s real estate is rapidly blooming and as it continues to grow, the investments made today will reap in benefits in the future, although not so early. Hence, if you are looking to invest in property, now is the time.
If you’ve made your mind of investing in Mumbai or you need some in-depth information regarding our NRI property services, contact Spacio Realtors today and find the best places to bet your money on!