Why fully furnished Condo is considered as a great Investment?

Are you looking to invest in real estate and wondering which the best option is? If yes, you are not alone, as many investors seeking real estate investment often wonder whether they should go in for a plot or a built up apartment. Over the years the growing popularity of high rise apartments has meant that they have a clear edge to investors who have invested in ready to move in apartments. Here is a look at some of the core reasons why a ready to move in apartment offers a good investment option for investors.

Image Courtesy : Net

Good rental options: With a ready to move in apartment, you as a property owner can get very good rental options both for the medium and long term. With an inflow of working professionals in most major cities and towns, people are looking at good rental options offering a ready to move in option for various budget types.

Average rental yields higher for fully furnished condos: If you have made your mind to offer your apartment on rent, offering a fully furnished one instead of a regular one, makes it more attractive for the buyers. The average rental yields of fully furnished apartments are far higher than regular apartments. A simple web search for fully furnished apartments for rent in Mumbai on realty portals like property.sulekha.com will reveal that many tenants are looking for furnished properties. You can expect a good upside on rentals irrespective of the location of your property. So if you are planning to rent out your property, make it fully furnished to get more gains from your property on an average.

Fully furnished apartments high on demand: Many likely tenants today prefer opting for a fully furnished condo or apartment. Fully furnished apartment being a good choice for majority of working professionals today, it ensures high returns for the property owner.

If you have decided to furnish your apartment, you have set a budget of minimum 10 lakhs for interior designing and furnishing. Keep this in mind while budgeting your property purchase. If you are not having budget for furnishing the house completely, you can opt for partial furnishing, focusing on kitchen cabinets, electrical fittings and basic furniture like beds and chairs.

Best budget guest house available in Mumbai

Image Courtesy : Net

Guest houses are the latest hospitality trend that is rising in most areas around the country. They offer a number of distinct advantages that are not made available by hotels and serviced apartments:

·   They offer larger spaces for people to live in - since they are usually located within old apartment buildings and are run by civilians and not corporates.

·     They are more homely, as they offer all the basic facilities offered by hotels, but in a more homely manner. In this aspect, they are more advantageous for people looking for a slightly less expensive, more viable medium term accommodation option.

·       They provide services including regular housekeeping, clean home cooked food and lodging with all the amenities that any expensive hotel would provide.

·     They are cheaper than hotels and thus more affordable especially for patients and people who wish to stay there for medium term tenures.

·     They are usually located in prime areas around the city and thus, commuting to and from guest houses is not much of a problem.

There are many options in case one is looking for budget guest house for rent in Mumbai. The financial capital of the city sees a lot of professionals who come here on assignments and do not have the budget of staying in a full blown hotel and thus prefer moving into a budget guest house. The best areas for those looking for such places are Colaba, Parel, Lower Parel, Worli, Wadala, Sion etc. These places are well connected to all other areas of the city and thus are within a few minutes away from most basic amenities that one may need during the course of their stay.

How to find a budget guest house for rent in the financial capital?

There are several ways of doing this:

·  One may decide to look up various places on the net via various websites like property.sulekha.com. All these sites offer a list of places and their contact numbers for easy access.

·      One may decide to find out places via travel apps and nowadays, a lot of these guest houses have decided to sign up on to various travel apps so as to increase their reach and client base. Thus, this has solved the problem of time spent in looking for a place for many travellers and professionals looking for a quick fix. 

Rental space in Mumbai- It’s cheering time for the Mumbaikars!

The real estate sector comprises of both properties for sale and properties for rent or lease. And when you have an emergency of shifting to a new place, or when you shift somewhere for temporary establishment, rental properties are the best options for shelter. They are easily available, require less time for acquirement and also cheap compared to buying a new home.

     Owing to the demand and popularity of rental properties today, more and more rental properties are coming up across the nation. Mumbai too, is seeing a growing availability of rental homes today, owing to more and more people- especially the young generation- seeking rental properties for staying in Mumbai for studies or jobs. Thus, getting a cheap rental house in Mumbai has become easier than never before- they are affordable, comfortable and have the best facilities. They have become a boon for the residents of Mumbai- and the Mumbaikars are busy cheering! Wondering what the rental properties of Mumbai have to offer you? Read on what property experts at property.sulekha.com say.

·         Best locations: The most important criterion to be considered while looking for a home is the location. And the rental spaces in Mumbai have the cream locations. They are located in the vicinity of everything that is essential for our daily lives. From market places to schools and colleges, corporate offices to restaurants, malls to parks, and bus stand to the airport- the rental spaces are close to all. Thus, you can easily find a rental space of your choice.

·         Huge availability: Numerous rental properties are available in Mumbai today. Thus, getting one close to your college or office isn’t a tedious task at all. Search for one with the location you prefer to stay in, and you will definitely find numerous options to choose from. However, you need to book them at least a month before you start your stay, as there is a constant demand for them.

·         Amenities: The rental spaces are not only strategically located and highly available, but also have all facilities for the hirers. Constant security, potable drinking water, Wi-Fi, furnishing- you can get them all. Most of them have 24-hour power backup and water supply as well. Thus, you can be assured of a comfortable stay in Mumbai.

Budget: The rental prices are quite affordable, and will vary according to the facilities you opt for, and the duration of your stay. Overall, they will fall into your budget for sure.

Easy way to find genuine flat on rent in your city

Image Courtesy : Net

Hunting for apartments on rental is never an easy task in a city like Mumbai, where you may not find all the amenities in one place. There will be a few hits and misses when you stay in a rental apartment in Mumbai. To save you the disappointment, we bring you 5 indisputable search tips to grab genuine flat for rent in Mumbai.

1.      Build a checklist strategy

Location, budget, size of the unit, kind of flat you are willing to rent—old/new, and proximity to your regular outdoor activities; these are some of the basic checklist items you should keep in your strategy will searching for the flats in Mumbai. Start striking out the ones you find in a particular house, and move to the next, till your list is complete.

2.      Additional facilities

Apart from the basic amenities like back-up power, 24/7 drinking water, housekeeping and garbage collection, you might like to look for a rental house that also has additional provisions like a gym membership and community commercial space for groceries.

3.      Start search online

Online filters are excellent way to find rental houses available in particular societies in your preferred localities. Depending on your checklist budget, room size and year of construction, you can go ahead with the deal by connecting to the owner/broker.

4.      Sharing your space

Most new tenants in Mumbai find the monthly rental rate to be exorbitant, at least for the first few months. Bachelors and single working professionals in Mumbai prefer to either share their space with others, or stay in a PG to cut accommodation costs. Sharing the flat has many visible advantages.

5.      Ask for utility bills

If you are sure of your chosen flat, ask for the internet bills/ water bills and electricity bills to verify the status of the flat’s ownership.

Among the many regions that are good for renting a home in Mumbai, Andheri East is a good choice. It is one of the most populous regions in the city and is a mix of commercial and residential regions. Andheri East also have a major railway station in Mumbai, thereby providing easy access to any other place in the city. Online real estate portals like property.sulekha.com are easing out property buying and selling in Indi, as sellers can list their property in these sites for buyers to choose from.

Real Estate Advisory: Recent Talks about Mumbai Properties

Mumbai is known as one of the most vibrant cities of India. Besides being the trade and entertainment capital of the country, it is also a city that never sleeps. Mumbai is known to be one of the most populous in India and owning a piece of real estate is a luxury of sorts! If portals like Sulekha Properties are to be believed, the real estate advisory and recent talks about Mumbai properties will show that there has been price stability and an increase in the architectural wonders that line the landscape. This has also had a bearing on returns from property rentals in Mumbai. Read on to know more about Mumbai properties.

-    Eastern Corridor: The eastern suburbs of Mumbai are an excellent real estate investment option. The rental returns here are good due to the location of this area. This neighbourhood is also known as the Central Line and includes places like Ghatkopar, Mulund, Vikhroli, Nahur, Powai and Kanjurmarg. It also includes Trombay and Govandi. This area is also often called the Harbour Suburbs due to its proximity to the seaside and shores where a lot of fishery trade takes place. It is also well connected by rail and road with the Eastern Express Highway. Capital appreciation here has also picked up in recent years.

-    Western Corridor: The western suburbs of Mumbai consist of Andheri, Borivali, Malad and Santa Cruz, as well as Vile Parle, Goregaon and Juhu. These areas have seen a major boom in the past decades and the rental returns are extremely good. The price stability here has been seen in the last few years after a huge price explosion took over the market. Bandra, in particular, has seen a large boom in real estate terms and even houses many designer, high-end properties including towers upon towers of well-planned townships. This western sprawl is also well connected to the rest of the city. The link road keeps this area connected to the rest of the city.

-    Commercial Properties: When we speak of rental returns, we cannot forget about the rise in the number of corporate offices and BPOs that have been established in various corners of Mumbai. This increase has been seen mostly in the western corridors including Andheri. The international airport is also located in this part of the city which add to the factors that make it a prime property.

Buy property in Mumbai without going broke

Image Courtesy : Net

The common belief about real estate in Mumbai is that most new residential projects in the city cater only to the upper-middle class or the wealthy. This is because there is a host of new luxury projects in the city which boast buildings with 3 BHK or more. It appears to be hard to find decent 1 BHK homes in Mumbai, let alone studio apartments.

Luxury appears to be the mainstay when it comes to new projects in the city. Apart from this, property rates in Mumbai have been regarded with wary by investors looking to buy in the city in the past decade due to their ever-increasing nature. However, there is good news for those interested in buying property in the city as there has been a marked fall in the rate of property in the city since the last year. According to real estate research firm Liases Foras, if an apartment in a specific locality cost around INR 3 crores in 2014, a similar apartment in the area would cost only around INR 2 crores.

According to its report, property rates in Mumbai have lowered by 0.95% in the Mumbai Metropolitan Region and by 3.23% in Mumbai. The average rate per square foot has also reduced since 2014. The reason for this fall in prices of property is because builders in the city are aware that the prices are too high to be bought by most people. Hence, in a bid to increase sales, builders have lowered the prices of their property.

This is good news for buyers and there is now a wide variety of options to choose from for Mumbaikaars. The drastic drop in prices of property is sure to motivate more investors to buy property in Mumbai. If you are interested in checking out property in Mumbai, why not browse property sites like property.sulekha.com for easy navigation through countless properties in the comfort of your home? It is advisable to buy property in Mumbai now, before builders change their minds!