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Why are luxury homes a popular demand in Mumbai?


With the growing demand for homes in Mumbai, the luxury housing sector is seeing a massive uptick, especially after the COVID-19 pandemic began to retreat from the country’s horizons. The growth of luxury housing has led areas like a property in Worli, Juhu, and Bandra to become hotspots for High Net Worth Individuals (HNIs) to invest their money in the real estate sector. The growth in this segment has fascinated many home-seekers and real estate investors due to the High Return on Investment that investments in the luxury real estate market can retrieve.

The rise in interest in the luxury apartments in south Mumbai as an investment avenue can be attributed to sheer economics; the key contributors to the sales of high-end projects have been the rising consumer demand for better amenities and low mortgage rates. Despite the two consecutive hikes in repo rates this year, India’s home loan interest rates are still below the pre-COVID times, which is a significant driver of the trend. HNIs have been the biggest buyers of luxury homes in India, especially in south Mumbai homes. They majorly invest in real estate to optimise capital gains. Section 54F of the Income Tax allows saving on capital gains if one reinvests the proceeds from this earning in properties.

Moreover, facilities such as eco-friendly infrastructure, high-comfort interiors, vast carpet area, balconies, open kitchens etc., have also played a significant role in the rise of luxury housing in Mumbai.




•Eco-Friendly Features in the property Homebuyers prefer their home to be sustainable and feature eco-friendly capabilities. Their house must ensure efficient use of water and energy. For example, a rainwater harvesting system on the property or solar power helps save the electricity bill and reduces environmental pollution.

• Open Spaces such as balconies with a garden or sea view, residential rooftop gardens, open to sky space for an active lifestyle where they can mingle with their neighbours in the cool mornings and breezy evenings in the lap of nature.

• Open plan kitchen An open plan kitchen gives a sense of larger home. A home with an open kitchen plan seems attractive because one can plan the kitchen island or install a detached sink to create more distinctions in the area.

• Connectivity A well-connected home is always beneficial for not just the occupants but also as an investment for the future; land and property prices appreciate with infrastructure development.

• Large carpet area Homes with large carpet areas are being considered for privacy and creating office space within the environs of the home. Balconies opening to nature are also some of the key features that most home buyers favour.

Homes overlooking the sea have been a major attraction for most property seekers. Some properties in and around Worli, like Vraj Tiara at Veer Nariman Marg, offer 3, 4, and 5 BHK sea-facing flats with a 270-degree sea view from the balconies of every home. These residential homes welcome you to a grand entrance lobby with an art gallery, a concierge, and a reception. The rooftop amenities and open spaces around the property and located within a few minutes from arterial Annie Besant Road and the Bandra Worli Sea link.

1 Comment

  1. nimabi says:

    Thank you very much for sharing, I learned a lot from your article. Very cool. Thanks.

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