Mumbai, touted to be the financial and commercial capital of India covers a whopping area of 600 sq kms. Mumbai stands to be the sixth highest city in the world, in terms of population and accommodates a vast population of over 21 million. The huge population has also spurred the demand of real estate property in Mumbai. Mumbai is a cosmopolitan city, where you can find people from different religion and countries.
Real estate property in Mumbai has witnessed an exponential growth in the past few decades. Mumbai is known to be a city that shelters and feeds all. Similarly, builders and developers in Mumbai offer housing to all classes of people – middle class, upper middle class, upper class. Apart from this Mumbai is also a city of rich people such as big business tycoons, bollywood stars etc. The city is vogue and offers a high class lifestyle and top notch living standards that spurs the demand of luxury homes in Mumbai.
Who invests in luxury homes in Mumbai?
Mumbai is India’s richest and most glamorous city, where the Bollywood TV industry is settled and is the home of many celebrities. Bollywood divas and hunks buy luxury homes in Mumbai with the best of the interior decoration that also involves a small gym, study room, may be a swimming pool or a play area. The homes of celebrities are worth a watch because they design it so differently with interesting themes and colourful hues.
It continues to attract good number of investments not only from India but other other parts of the world.
Leading business tycoons and magnets, CEO’S of giant companies also buy luxury homes in Mumbai. The ultra modern and lavish homes leave the people awestruck. Market pundits have observed that latest trend in properties in Mumbai has been driven by the emergence of high-net worth individuals (HNIs), rapid urbanization, popularity of global lifestyle among people and increase in the number of NRIs.
The city has always attracted the NRI diaspora who are looking for lucrative real estate investment opportunities. Backed by rigorous infrastructure development, the western belt in Mumbai continues to lure the NRI’s for great investment opportunities. Hence the NRI section has been a great contributor in increasing demand of luxury homes in Mumbai. Builders and Developers in Mumbai showcase a slew of promising luxury projects that continues to surpass one and all.
The business sector of Mumbai offers high investment returns to the buyers/investors including real estate investors. This is the significant reason behind why Mumbai is pulling a good number of investors from all across India and also from abroad. At present it is the most populated city of India and Mumbai and its rural areas envelop the second-biggest urban agglomeration in the world after Tokyo as mentioned earlier also. Furthermore, the pace, at which its populace is sprouting, indicates the increasing demand for residential property in Mumbai.
Currently, there are blends of whopping residential and commercial projects in the modern time and many more in the channel. This demonstrates towards the measure of benefit which is there in the Mumbai real estate industry.