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Monday, 28 August 2017

Own a Dream house in the City of Dreams!

Mumbai, the city of Dreams, is famous for the cultural side of it as well as the growth of business and economy in the city. So going by the same trail, people living here are majorly non natives and especially those in need of property. There are a huge number of immigrants from other parts of India, in a hope of settling down here. 

Every single person in this world desires to own a house and one living in Mumbai does the same, based on the experiences this city has in store for everyone. Well is it really easy to get a property of your own in Mumbai? Well the answer is a sure no. But, is it not completely impossible to get hold of a property with affordable price and an average location in Mumbai.

Well the property rates in Mumbai have touched sky high limits because of its location as well as it being the ever spreading entertainment hub. Thane, Navi Mumbai which was once considered to be scarcely populated has also jumped high as far as property rates are concerned. 

Even after a many reasons which raise the price of properties in Mumbai, one aspires to have a house in Mumbai. People in Mumbai are spending over the properties at higher rates and are hoping to get their hands on some great properties that maybe sea facing with windy porches. Some even have a look out for properties in the central location of this city. Mumbai faces the crunch for space for dual reasons, both artificial as well as natural. As Mumbai is a city limited by sea on all the three sides, it has zero scope of expansion in a circular manner and has only moved from north to south in its own boundaries. The Ever increasing demand of properties in Mumbai is solely due to the number of immigrants that this city welcomes every year, every month; statistics say that the population of Mumbai has gone up by 983% since 1911. The daily wage labors raise the population as well as the demand for properties among the lower middle class people in Mumbai as there occurs a shift in people occupying the slums to the people occupying small properties. The NRI’s visit Mumbai for varied reasons, and quite often they prefer buying a small but comfortable place to stay going by the high rates of rent in this place. 

While concluding it can be clearly said that, even after every speculation as well as difficulties hundreds of properties are sold out every year in Mumbai- some may be resold, some maybe rented out, or acquired. But there is an availability of properties, so one must not lower hopes and should establish contacts. The knowledge about the right place and the right people will not only gain you a place to live in, but also one at affordable rates.