Mumbai Western Suburbs - booming and blooming rapidly

Mumbai City, the financial capital of India, the city that never sleeps had been experiencing sluggish time in realty for last few years. There had been no much difference in buyer’s sentiments as the property prices remained more or less stable & with less scope for capital appreciation in short term.

However 2016 is certainly looking positive & witnessing picking up in sales of huge chunk of inventories in a gradual manner. Indian Real estate sector has witnessed regulatory changes such as relaxing of foreign direct investment laws and the Union Cabinet approving the much awaited Real Estate Bill in last few months. Also the sector is expecting DCR (Development Control Regulations) that is expected to be industry-friendly & introduction of good projects with customer friendly payment schedules.

Mumbai western suburbs remain at top when it comes to showing good results from real estate market. Mainly due to following reasons:

• Home loan affordability: In 2015 Reserve Bank of India (RBI) has increased the amount of loan banks can give against a property purchase and has also reduced the risk weights for home loans. 
• An availability of modern and good quality building projects in western suburbs area: Many A list developers such as JP Infra Pvt Ltd, Raheja Developers, DB Developers, Oberoi Realty, Lodha Group, ACME Housing Pvt Ltd, Sunil Mantri Realty and SMGK Developers Pvt Ltd are coming up with residential projects keeping in mind
• Modern and dynamic infrastructure development in the region: Major expansions like numerous flyovers and connecting roads, the proposed Mumbai Metro 3 project are improving the face of western suburbs rapidly.
• Very good connectivity to other parts of Mumbai region: connectivity of the western suburbs to other parts of Mumbai via the Western Express Highway, Eastern Express Highway through Goregaon Mulund Link Road, and south Mumbai via the waterway is also instrumental in increasing its realty demand among end users & investors.
• Positive rise in commercial activity: Various upcoming commercial projects on Andheri to Dahisar stretch by developers such as Oberoi, Aakruti, Rahejas, Acme, HDIL, Wadhwa etc are also increasing demand for residential activity in this area.
• More FDI inflow: With no lock in period for FDI investments in hotels, resorts, SEZ, educational institutes etc. & easing up of FDI norms will lead to speeding up of investments in Realty sector.

So the future of Mumbai western suburbs certainly looks very bright with all the proposed developments happening it will be in no time become one of the most sought after areas to stay in & invest in.