There are many areas in the MMR and its periphery, which can be looked at as promising realty destinations. And the ongoing festive season could be the right time to make your investment.
Mumbai's peripheral realty locations have always performed well, even at the time of the slowdown in the property market. During this festive season, peripheral locations are displaying immense promise, say experts.
Shailesh Puranik, MD, Puranik Builders Pvt. Ltd says, "Mumbai's peripheral locations have proven very attractive in the recent past as far as housing sales are concerned. Infrastructure development has played a major role in bringing these peripheral areas into focus. Mumbai has only limited land available for development unlike some other major cities of the country."
"Hence, real estate prices have skyrocketed in the recent years. Prices have soared so high that homebuyers in the middle and upper middleclass segments can't afford them. Affordable and quality lifestyle projects are currently only available at locations such as Thane, Virar, Kalyan-Dombivili, Badlapur and other such places. The development of infrastructure such as the Santacruz Chembur link project has reduced the travel time between Thane Mumbai to 25 minutes from the earlier 40-45 minutes," he adds.
Home-buyers find properties in the peripheral regions to be affordable; in addition, these areas also provide advantages such as a more peaceful environment as compared to Mumbai, less congestion and a great ambience.
Hence, a large number of home-buyers are flocking to these regions. To cater to this demand, property developers are coming up with innovative offerings and discounts to tap home-buyers during the festival period such as the upcoming Diwali.
Experts revealed that for the peripheral locations, builders have come with various strategies to attract prospective buyers. These strategies include attractive offers. People are already in a mood to buy property and such offerings make even peripheral properties an attractive option.
Hence, a large number of home-buyers are flocking to these regions. To cater to this demand, property developers are coming up with innovative offerings and discounts to tap home-buyers during the festival period such as the upcoming Diwali.
Experts revealed that for the peripheral locations, builders have come with various strategies to attract prospective buyers. These strategies include attractive offers. People are already in a mood to buy property and such offerings make even peripheral properties an attractive option.
Source - TOI
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