Mumbai is the largest real estate market in the country and the costliest too. The financial capital of the country is home to most of the top MNCs and large companies in every sector. This indicates that the city is an important center for economic activity not just in the country but also in the world. Also, all the economic indicators today declare that India is on a growth trajectory and will be so in the coming decades. This goes to show that the economic power of Mumbai is at its peak. The number of high-net-worth individuals and families is growing. And they are seeking the most luxurious residences and properties in the city.
The demand for luxury living has seen significant growth in the past few years and is gaining prominence amongst under construction projects in Mumbai.
Let us look at some major factors that influence the rising investment in this sector:
1. Exclusivity and Prestige
Luxury apartments are also an aspirational asset class for those striving to make it big in life. And which city will have most of the achievers other than the dream city? All these factors are indicative that luxury properties like flats in Kandivali East will be in demand for some time in the future too.
2. Infrastructure development and connectivity
A growing economy with a large workforce will demand an efficient infrastructure that can match it. Mumbai is witnessing one of the fastest growth in infrastructure to increase connectivity within the city. The state government is investing majorly in infrastructure development that will connect every nook and corner of the city. One can see this in the form of the coastal road project, sea link projects, road developments, and the many metro lines that are being built at a frantic pace.
3. Premium Amenities
The affluent class is not only increasing in number but their aspirations and ideas for luxury are increasing many fold boosting the demand for luxury apartments with amenities and facilities that match international standards. The discerning home buyer and investor desire homes that provide an exceptional range of amenities like personalized services, modern evolved technology, and sustainability features.
4. Unprecedented Demand
Mumbai is geographically constrained as it is surrounded by the sea on all sides. Property has always been in demand in the city. Moreover, luxury apartments offering a mesmerizing view of the sea are sought out by the most famous and wealthy. Rich industrialists, Bollywood stars, and high-net-worth individuals are in a rush to own uber-luxurious residences that offer exceptional indulgences.
Investing in upcoming residential projects in Mumbai is a valuable proposition to increase personal wealth as the value of these investments will keep rising with the demand. Mumbai has always been the most valuable property market for ages and now, with unprecedented economic growth the property value is set to breach new heights.
Original article published at https://www.ezeebiz.in/luxury-living-in-mumbai-exclusive-flats-with-premium-amenities/