North Mumbai Vs South Mumbai: Where to Invest

Mumbaikars are very proud of their city. The vibrancy, resilience, culture, and plethora of opportunities make it among the best places to call home. Despite this common love of all that Mumbai represents, there is a deep divide between the East and West, the North and South, among prospective homebuyers. As an investor, though, you may want to do some research before buying property in the city and settle on a neighbourhood that offers you the best of all that you need. Here's what you need to consider before you start the homebuying process.

What does South Mumbai have going for it?

South Mumbai has both the glam factor and an old-world charm. Colaba, Tardeo, Worli, and Parel are some of the poshest places to call home. Apart from Juhu, these are the neighbourhoods where you can find stars and celebrities. The swanky malls, high-rises, and high-fashion clubs make SoBo a much-coveted place to invest. Buying property in South Mumbai may be much more expensive than in other suburbs, but the high demand also makes for a good resale value if you intend to sell with appreciation. It offers the very best urban living experience.

What does North Mumbai have going for it?

The North Mumbai suburbs such as Matunga, Sion, Mahim, Wadala, Goregaon, Kandivali, Malad Jogeshwari, Dahisar, and Borivali have seen an uptick in interest from both home buyers and developers in recent years. Apart from ample space, better air quality, and lesser congestion and pollution, the excellent connectivity offered by the suburban rail and metro networks are just what professionals need. In addition, the proximity of IT parks and business centres like Nirlon Knowledge Park, Mindspace, and Nesco IT Park has homebuyers keen on making North Mumbai home.

Points to consider while buying property in Mumbai

Buying a property in Mumbai may be a culmination of a dream, but it is best to decide based on your family's or your needs rather than going by trends. Here are some questions you must answer before picking between North and South Mumbai –

• Do you plan to invest in a house for personal use or earn a rental income?
• What is your budget?
• What are the amenities and facilities you are looking for? Will a studio apartment in a posh locality suit your needs, or are you looking for a 2BKH or 3BKH in a locality close to work?
• Are you looking at property value appreciation for ROI, or is a steady cash flow through rental or lease the goal?
• If you are planning to invest in a residential property to be occupied by you and your family, you may want to consider the proximity of good schools, markets, and medical facilities as well

What to check before buying a property?

Buying a property or a house is an important decision that will impact your finances for years to come. Therefore, it is a good idea to put in adequate research and come up with a checklist that will help you make the right decision. Here are some points to check before you make the decision. 

• Does the locality have RERA-registered projects by top developers?
• What are the property prices and trends in the locality?
• Does the locality match your requirements? What is the quality of life in the locality like?
• Is it well-connected? Is there an upcoming metro or suburban rail station?
• What is the infrastructural development in the area like? Are there schools, colleges, hospitals, and commercial zones in the vicinity?

Registering with a zero-fee consumer-centric real estate portal like Blox can help you answer most of your locality-related questions and your Relationship Manager will further guide you in choosing the right house in your area of choice.