Experts believe that 2023 is a mercurial year of economic unpredictability across the globe. If there is one bright spot amidst looming uncertainties, it is the real estate sector. In India, it is expected that both commercial real estate and the housing market will see a rise in demand this year.
“Real estate is central to any portfolio or asset allocation. Almost everyone owns or wants to own real estate...It is the most risk-adjusted, balanced asset class”, says Aditya Jhaveri, Founder and CEO of Blox. Given the extreme volatility of the equity market, the unfavourable tax implications of government policies on debt funds, the low returns offered by fixed investment options, and the fears of a looming recession, real estate has emerged as the hero of financial planning and asset-building exercises.
A home, a residential property, is more than just an investment. It is perhaps the only asset with a utility value. This was one of the major learnings from COVID-19 when people enjoyed the advantages of owning a flat or apartment while other financial investments could not give them any meaningful advantage. This lesson has been carried by the average Indian into 2023 and translated into a greater need to buy and own a home.
While there are some concerns regarding the rise in interest rates, at least in the first half of 2023, this also incentivises developers and builders to reduce prices in an effort to discount any unsold inventory. As a result, this is the best time for homebuyers to look for, compare, and take their pick of apartments, flats, and projects that suit their lifestyles. 2023 is indeed the year of real estate, and buyers can expect an exciting time ahead.
Mumbai is one of the best places to live. Almost every person dreams of owning a lavish apartment in Mumbai. In this blog, we will delve into some of the most affordable places to live in Mumbai.
Mira Bhayander is a municipal corporation in Maharashtra’s Thane District and has a border with North Mumbai too. Those who have properties under the jurisdiction of the MBMC (Mira Road-Bhayander Municipal Corporation) have to pay their Mira Bhayander property taxes on residential and commercial units, including homes, business establishments and more.
The vibrant city of Mumbai, which serves as India's financial hub, has always been a prime attraction for companies looking to establish themselves at the epicentre of the nation's economic hub. As the city continues its transformation, the commercial real estate scenario in Mumbai is experiencing substantial shifts.