Thinking Of Buying Property In Mumbai? Here’s What You Should Keep In Mind

October 4, 2021 by Rustomjee
Location Stories
How to Evaluate Property Prices in Mumbai
October 4, 2021 by Rustomjee

Property in Mumbai- Have a neighbourhood that’s got your amenities covered, various options for commuting, and more- here’s what you should remember while buying property in Mumbai.

Location- While buying property in Mumbai, the most important thing that you should have in mind is the location of the property, as you want to optimize your time as much as possible in a city as congested as Mumbai. The property should be proximal to important educational, healthcare, and business centres of Mumbai so that there is seamless travel between your home and your daily activities and errands. If proximity to your workplace is important, for example, consider BKC in Mumbai which is an important business district. Builders in Mumbai like Rustomjee have constructed intelligently designed properties like Rustomjee Seasons, which are ideally located to optimize your travel time between your home and workplace.

Size- Projects in Mumbai often do not disclose the accurate sizes of the apartments to their customers so it is always wise to go with the carpet area. Understand your requirements well- Do I need a 2,3 or a 4 bhk flat in Mumbai or do I just have a requirement of 1? Be sure to communicate your choice and plans to your property manager or broker, so that if need be you can change the structure to suit your needs.

Privacy and Security- Enquire after the security features of the property, be sure to check if there is 24×7 surveillance and modern security measures and facilities installed at the property. Properties like Rustomjee Paramount are premium gated communities with modern technological facilities to ensure tight security all around. Communicate your expectations related to privacy and security and be sure to check the at-home security features provided by the builder.

Knowledge About The Process- Buying a house is an overwhelming journey of important financial and emotional decisions, along with the administrative juggle between banks and government offices. Be sure to research all kinds of home loan plans and interest rates before approaching a bank for the same. Understand the property tax rate, the stamp duty charges, and the property registration process before you embark on your home owning journey.

Scrutinize The Property Before Purchase- Before investing in the property of your dreams, make sure they uphold certain legal and quality standards. They must comply with the due diligence framework of the state government concerned. Estimate hidden costs and unforeseen expenditures that you might need to incur, therefore negotiate with your dealer. Verify the documents of the property and also figure out if there is any dispute regarding the same in court. Be mindful and alert, as you are investing not just money, but your hopes, dreams, and expectations in these four walls.