Best Place to Buy Property in Thane Mumbai

Mumbai has for a long time been the hot spot for real estate investment. With plenty of industries and other commercial establishments, the capital of Maharashtra has a dense population and is always busy. Property rates have been increasing all the while due to high demand. However the revenue generated in major cities like Mumbai and Delhi has come down in the last two quarters. Due to the high prices, a lot of completed project still have unsold flats. There is also very little space left in the city to build new projects. Hence people have started moving to places near the outskirts of Mumbai. With government spending more on infrastructure and transportation, travelling to the city has become quite feasible.

With a decreased demand for property in the city, investors have also moved out of the city. They are looking for places near to Mumbai where land rates are cheaper and have better transportation facilities. The outskirts of Mumbai have now become the hot spot for real estate market. Thane, a part of the Mumbai Metropolitan Region is one of the places where investors have kept an eye upon. It is a land filled with abundance of greenery and wonderful lakes. This locality has around 33 lakes and also a good infrastructure consisting of hospitals, industries and malls. Experts have predicted that Thane is expected to grow exponentially in the real estate sector. Located in the center and being an area with cultural arts, Thane is all set to grow in the upcoming years. Thane west, located just outskirts of Mumbai is a place to be preferred owing to its infrastructure and connectivity to Mumbai. It also has roads and rail routes connecting well to other regions nearby. For people moving out of Mumbai owing to the high prices and those looking for a peaceful yet commutable location, Thane west is a suitable region to buy property.

Ghodbunder Road which connects Mumbai’s eastern and western highways has a stretch of about 20 kilometers. It has developed into a residential hub where builders have already started projects. It is one of the best places to invest on real estate. With more funding for infrastructure such as flyovers and metro rail, Ghodbunder Road is definitely a place to invest on. Buyers have the option of choosing between ready-to-occupy flats and those under construction. The properties are surrounded by greenery and filled with clean air. The cost of the property is much cheaper compared to that of Mumbai. A home buyer with a budget of 1 crore can find a suitable place to live in. Murbad located in Thane district is a well know industrial town. Chattarapathi Shivaji airport is the nearest airport to Murbad. The area close to the airport is also a suitable place to invest in the long term as it is growing steadily in value. Vasanth Vihar is another place which is close to Mumbai and has major highway connecting to it. Vasanth Vihar has schools, colleges, restaurants and other basic amenities to live in. These places are a few that have a good potential for mumbai real estate.

Watch out for builder’s antics when buying a property

Owning atleast a piece of realty is what everyone wishes for. To make that dream come true many slog, save whatever they could or avail a loan. This is why real estate business has seldom dipped since the year 2002. Though many of the nationalised banks and private banks offer low interest rates while taking home loans, they often miss to address the grievances especially when the property developers fleece them. In this unregulated realty market, property developers always have an upper hand over the home buyers as they have already established a good rapport with the banks and their personnel. Banks too act in favor of the developers as they provide them good business and that too in a consistent manner. As an effect, housing and property related complaints have risen in tandem with the rise in the number of projects.

The reason for the rise in complaints are many. Let us look at some of the common and major ones here. In most of the cases, the time taken to complete housing project normally exceeds the agreed delivery date and by that time the home buyer would have paid ninety percent of the value. If the home buyer had been living in a rented property he would end up paying the rent as well as the loan amount. In spite of all these hardships buyers remain calm fearing harassmet, retribution and further delay in completing the project and fail to make the builder hold responsible for his act.

There are instances where property developers purposely forget to hand over the completion certificate to the buyers especially if they had built structures deviating from the original plan. Buyers may face lot of hassles without this completion certificate. Without it, they will not be in a position to have their property registered, obtain utility connections, sell, mortgage or even reverse mortgage the property. They also have to live in the fear of getting their unapproved portion bulldozed by municipal authorities, anytime. Quality of the structure has always been a subject of controversy. Once entered into a agreement to construct, builders often brush off their responsibility to construct a structure of good quality. Many a time, buyers feel the heat once they have occupied the building and feel cheated if the quality is compromised.

Instead of blaming it all on the property promoters and developers, it is actually the responsibility of the buyers to stay vigil. To avoid delays in delivery, they should go visit the site of construction from time to time, check the situation and act accordingly. If they feel that the quality is being compromised they can always take up the issue with the legal department or the builder himself and sort it out in an amicable manner. While making an agreement it is always better to put down all the points in black and white to avoid confusion and disappointments at a later date. Visiting the developer’s earlier projects and speaking to their customers to know the actual situation will be of great help to decide on whether to strike a deal with that particular developer or not.

Author bio: Sulabha is a resident of Mumbai and has a penchant for all things bright and beautiful. A known person among blogger circles, enjoys writing for IndiaProperty.com about realty and has good information on Flats for sale in Thane