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Mumbai ranks top in the list of NRI investment
Mumbai has always been on the radar when investment is concerned. Investors looking for long-term investment often turn to the city even if it not their state of origin.
A number of reasons have contributed towards making Mumbai a preferred NRI investment destination.
· Economic Growth: Mumbai holds the top rank in the economic growth being the financial capital of the country. NRIs often prefer to keep this factor in mind when investing in Real Estate in Mumbai. The city caters to a number of major banks, giant corporate companies and firms and acting as a financial hub for investors across the globe. The city has been a major player in generating employment opportunities for the fellow citizens. The city also tops the list of business transactions taking place, thus attracting NRI investors in buying Property in Mumbai.The professional work culture, fast-paced life, international standards, positive attitude and accommodative social networking of the city have led Mumbai to be the preferred destination for investment.
· Ease of investment: The benevolent rules and regulations laid down by the Indian government for bringing in money and shelling out sales proceeds has enabled the NRIs to invest in Indian property without any hassle. A general consistency in property rates, improved laws in the real estate sector and favourable rupee movement-all this has make investment in Real Estate in Mumbai easy. It has also improved the perception and outlook for NRI investors towards Property in Mumbai.
· Sound Legal System: Mumbai has proved to have a sound legal system. The MOFA (Mumbai Ownership Flats Act) has made it convenient for the investors to invest in New Projects in Mumbai, whereby the buyers’ rights and interests are safe guarded. The Union Cabinet of India has cleared the Real Estate bill though the city still awaits the proposed housing regulatory body to focus on safeguarding the investors’ interest and timely execution of the New Projects in Mumbai.
· Ease of Exit: Owners are advertising for Property for Sale in Mumbai with ease since resale of properties in Mumbai has been made easier. It thus makes convenient for investors to sell their properties without going through any difficult exit route. Even the builders now offer clear exit options, which are safer and easier. This has made the sale of 2bhk flats in Mumbai the most preferred option for NRIs who visit the country for few months and rent out the place for the rest of the year. This has grown the demand for investment in Real Estate in Mumbai among NRIs.
· Political Stability: Mumbai’s stable political outlook has contributed to tremendous economic growth, which in turn has led to increased interest in investment in Property in Mumbai. Many new 2bhk flats in Mumbai are coming up that offer affordable housing solution along with many attractive amenities.
· Good education level: Mumbai’
All these factors have led Mumbai to become the hotspot property investment destination for NRIs.
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Page Updated Last on: Jan 12, 2016