Purchasing Property in Mumbai: Overcoming All the Possible Challenges

If Mumbai is the city of dreams, having a place to call one’s own in this big city is the dream for many. Settling down in this city without one’s own home typically entails a lot of adjustments, and while this might work at an initial stage, it always helps to own a home at some point.

However, in a city like Mumbai, buying property always comes across as a challenge not only in terms of the prices but also a host of other factors. Many builders in Mumbai offer property at competitive rates, but one also needs to consider various other aspects before making a final purchase decision. So, what are some challenges that individuals and families face while buying a property in Mumbai, and what are some ways to overcome them? Here is a look:

Too Many Builders and Projects… Review RERA
When it comes to real estate, there are innumerable builders and developers who advertise their project as the most superior of all, with luxurious amenities and sprawling complexes. However, one needs to tread very carefully when it comes to choosing the right builders in Mumbai so that s/he can lead a comfortable and secure existence in the long run. One also needs to find reliable builders who not only possess extensive knowledge and experience in the field but whose credibility is reiterated by many buyers. It always helps to speak to the builders’ previous clients and read online reviews in detail to understand how genuine the builder is. Also, it is imperative to ensure that the builder has submitted his/her documents to RERA and the project has been authorized thereafter.
A good Sales Person will be able to carefully guide you through the details of their project as well as competitors on the RERA portal so you can get actual data to compare the pros and cons of each project. If the Sales Person works for a reputable builder and a high quality project, they should have no concerns about showing you the government’s RERA website.

Overcrowded Spaces… Review Locations on Google Maps
Being a densely populated metropolitan city definitely has its flip side. Many prime localities in Mumbai are extremely overcrowded and congested, leaving very less space both within and outside of homes. This especially becomes a problem when families have to adjust in these cramped spaces and struggle for ventilation. Such overcrowding can deprive one of much-needed privacy and have serious repercussions in the long run. However, on the bright side, a number of projects have now come up in emerging suburban areas such as Dahisar, which strike the right balance between being bustling and being surrounded by nature. For instance, reputed builders in Dahisar offer flats that provide a scenic window view of the Sanjay Gandhi National Park and the Arabian Sea.

A good Sales Person will be able to direct you to Google Maps where you can see what surrounds your project, from schools to hospitals to parks and roadways. This will give you a proper sense as to where you will actually be living should you choose to purchase your very own brand new home.

Skyrocketing Prices… Check MagicBricks or 99Acres or Housing.com
A major problem with buying property in Mumbai is the unreasonably high price ranges of properties across the city. While the sprawling apartments are typically out of the league for many due to their high prices, many of the more affordable ones are rather small and congested. In such cases, one often looks for homes that are spacious enough to accommodate a family while also falling into his/her budget brackets. However, in today’s times, many of the suburban and smaller localities of Mumbai are emerging as important residential hubs. Dahisar and other such localities offer extremely affordable accommodation facilities that are also spacious and ventilated. These would be the ideal accommodation options for individuals looking for comfortable and affordable options around the city.
A good Sales Person will be able to show you how their property compares to other alternative properties on various websites like MagicBricks, 99Acres and Housing.com. Be careful to ask about the Price Per Square Foot on RERA Carpet Area as well as the actual Box Price as opposed to any other values as these will be two of the most important numbers to compare which property is the best value for you.

Absence of the Basic Amenities
Another challenge that many individuals face while looking for a property is the absence of even the basic amenities in the apartments. For instance, some apartments may not have a 24/7 water or electricity supply, while others may not have a security service or optimally functioning elevators. The absence of these basic facilities makes it difficult for individuals to sustain comfortably in these apartments. Before finalizing on a property, it is always advisable to speak to your builder about the amenities offered and, if possible, take a documented agreement that these facilities would be provided to you once you move into your prospect home. Reputed builders offer all the basic facilities needed to lead a harmonious existence in one’s home. For example, VKLAL Vishnu Phase I in Dahisar offers all the required amenities including perennial electricity and water supply, 24×7 security service, spacious corridors, high quality elevators, fire exits etc.
A good Sales Person will be able to guarantee what amenities will be available in their project. Be sure to ask for a list of amenities for each project you are interested in.

Conclusion
Buying property in Mumbai can indeed seem rather intimidating for most first-timers. However, ask anyone who has spent a major portion of his/her life in this city, and s/he would tell you that this city is just as hospitable and welcoming as any other place in the world. It has its own charm. It has its wonders to offer. Mumbai is a place where your dreams can be fulfilled.
The key to buying the right property here is to carry out thorough research on the various real estate developers and projects, as well as the budget, floor space and amenities offered by each.
Then, based on your requirement and budget, you may personally visit the construction site, meet with a Sales Person, either Virtually or In Person and get further details you need to finalize your purchase decision.
We at V. K. Lalco believe that there is hardly anything more exhilarating than having a comfortable space to call one’s own. The 1 BHK flats we offer at VKLAL Vishnu Phase I in Dahisar are the result of this belief we uphold. Click here to know more about us and this project!