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Things to keep in mind while buying luxury property in Mumbai
Today luxury homes are considered a decent option for both investment and dwelling purposes. In India, the demand for luxury properties is rapidly increasing especially among High net-worth individuals (HNIs) and Non-resident individuals (NRIs). While investing in a luxury property might really seem lucrative, there are certain important considerations that the buyers should keep in mind before investing in one.
The demand for luxury housing is at its peak, especially in Mumbai. Owning a house in the country’s financial capital is considered to be a reflection of status and prestige. It does speak volumes about the kind of lifestyle the buyer wishes to lead. We all aspire for a spacious home overlooking lush greenery or a stunning sea view at one of the posh localities in Mumbai. However, the buyers must be conscious enough while investing in a luxurious property in the city. Here are some really important tips one must keep.in mind, while purchasing a luxury property in Mumbai.
- Location: Finding a well-connected location in an upscale neighbourhood must be of prime importance before investing in a luxury property. Buyers must also ensure that the location offers them a seamless commute to and fro from the major commercial hubs, social, entertainment, lifestyle avenues and travel junctions. It should also be close to metro stations, railway stations and the airport. The proximity of the locality to major infrastructure projects also makes it easier for the residents to travel across the length and breadth of the city.
- Amenities: Luxury developments do offer beautiful architecture and interiors coupled with state-of-the-art amenities that are specially designed to elevate the living experience of the residents. Buyers looking for luxury flats in Mumbai should always seek residential properties that offer top-of-the-line interior features and outdoor facilities. These amenities include stunning views, a clubhouse with a beautifully landscaped elevated park, lush green spaces, a well-equipped gym, multi-purpose sports hall, a luxurious spa, proper jogging and bicycle track, an infinity-edged swimming pool, indoor games room, yoga room, and reading room etc.
- Trusted developer: Apart from the location, selecting a property from a renowned developer is extremely important. Buyers must look for exceptional architectural design standards, cutting-edge technology and engineering innovations while browsing through various luxury projects by a credible developer according to their needs. It is imperative to invest in a home that is developed by a trusted real estate developer, as they ensure adherence to all the norms, superior construction quality, delivery of promised specifications, and timely delivery of the project to ensure a hassle-free home buying experience.
- Practical luxury: To meet the rising expectations, many trusted brands these days are competing to provide various innovative amenities to attract buyers. Given the high global exposure, consumers are also aware of the international standards in design and development. The customers evaluating high-end developments should always seek value for money. The development must also provide a good project layout with adequate open green spaces, natural lighting, and ventilation.
- Lifetime views: A luxury home is known to be a symbol of character, stature, and grace. One must opt for a luxury home that offers them a sense of royalty and an address for life.
Buying a luxury home is one of the most critical decisions for an individual as it involves a substantial investment and should match the prestige and stature of the buyer themselves. Therefore it is also critical for the customers to carefully research the factors discussed above before investing in a luxury property.
Read our article on “TIPS TO COMMUNICATE THE TOTAL COST OF BUYING YOUR HOME”
