Mumbai, a thriving metropolis has sought the imagination of investors from all over the world. In recent years, the NRI population has increasingly turned its attention to Mumbai for real estate investments. Let’s explore the top five reasons why Mumbai has turned up to be one of the most sought-after destinations for real estate investment for NRIs (Non-Resident Indians).
ROBUST REAL ESTATE MARKET
Mumbai’s real estate market has attracted the attention of NRIs looking to invest in real estate. This is because Mumbai real estate is robust in its nature – highlighting its increased prices and real estate growth. Because of the significant rise in the prices of this real estate market, it aims to provide a significant return on investment. All this is due to Mumbai’s limited land availability, and a growing demand for quality real estate. The future promises of the city infrastructural project also contribute to this growth in real estate demand.
MUMBAI BEING A FINANCIAL HUB
As a vibrant economic center, Mumbai offers entrepreneur NRI start-up businessmen an ideal destination for investment. It has long stood the time of a robust economic eco-system with leading banks and financial institutions. Along with this, the various government schemes like “Startup India” and ‘Make in India’ initiatives make Mumbai an ideal destination for investment for the NRI population.
STRONG RENTAL MARKET
Mumbai has a strong rental market. Income yields from rentals in Mumbai have been significant and strong, making it ideal for NRI investors looking for a steady source of regular income. This significant rental demand is also due to its dynamic employment opportunity that attracts populations from all across the country.
RICH CULTURAL AND LIFESTYLE FACTORS
Mumbai has a rich culture and a dynamic cosmopolitan lifestyle, which influences a lot of NRIs to invest in Mumbai’s real estate as they appreciate and are well accustomed to the diverse cultural landscape of Mumbai. It is also an ideal choice for NRIs as it has world-class educational institutions, good healthcare facilities a dynamic and robust social infrastructure, and some high-class entertainment options.
A GOOD REGULATORY ENVIRONMENT
The country’s regulatory environment has witnessed a sea change in recent years. This makes real estate an attractive investment opportunity for NRI investors. The introduction of the Real Estate Regulations and Development Act, the RERA Act in 2016 has brought several of transparency and accountability in the real estate industry. According to the Act, the buyer has the right to correct evaluation, ensuring timely delivery of the projects and providing remedies for disputes. Such a favorable regulatory atmosphere gives confidence he NRI investors to invest in a vibrant city like Mumbai.
