Mumbai is the financial capital of the country. Each year, hundreds of thousands of new businesses take shape, and some of the major domestic and multinational corporations expand operations in the city. The city's estimated GDP in 2023 is about USD 310 billion, making it one of the wealthiest cities in the world. What this means for real estate investors is a wonderful opportunity to invest in commercial properties in Mumbai. These include shops, warehouses, office spaces, co-working spaces, and retail outlets or showrooms in shopping complexes.
Mumbai's phenomenal growth as a financial and commercial hub of the country has contributed to the high interest of real estate investors in commercial properties. According to recent reports, nearly 70% of commercial real estate buyers are millennials who are excited by the prospect of quick capital appreciation and high returns. Therefore, buying a commercial property in Mumbai is a good idea and an essential portfolio diversification strategy for serious real estate investors.
In today's rapidly changing world of commerce, where the ability to adjust and be versatile is pivotal for prosperity, the selection of suitable office premises can wield considerable influence. Amongst the numerous alternatives at hand, two particular terms frequently gain prominence: secured office areas and virtual office settings. Although each possesses its own strengths, they are distinctly purposed. To effectively comprehend the distinctions and arrive at a well-informed choice, it becomes imperative to delve into the dissimilarities between these two alternatives.
The use of digital technology has become an integral part of working in almost every industry and business sector. Sadly, the real estate industry was somewhat lagging in adopting this technology and exploiting its numerous benefits. Thankfully, things are changing rapidly, and the emergence of innovative PropTech solutions in recent years has paved the way for further growth.
Most Indians have heard references to the term TDS about income tax. TDS is an acronym that refers to Tax Deducted at Source. The Income Tax Act specifies certain scenarios in which the payments received by a person are made after subtraction of the tax dues. This means the person making the payment must deduct the tax and deposit it with the government. In real estate dealings, too, TDS may be deducted under certain conditions.