Before investing in a property, the Real Estate Developers of Navi Mumbai recommend the following checklist that will assist the buyer in making a well-informed purchase:
Developer credentials:As per the rule of the Real Estate Regulation Act (RERA), developers and Builders in Navi Mumbai have to be registered before advertising a property for sale. The buyer has to verify the credibility and the track record of the builder when it comes to the quality, construction methods, completion and handing over of projects in Navi Mumbai.
Location:If the buyer wants to invest in Taloja projects, they should first check the area of the property. The position of a project plays a vital role in increasing or decreasing the value of the asset. If the buyer requires a residential property in Taloja, the check of long-term viability, accessibility, facilities in and around the area and the amenities offered by the builder is a must.
Graph:Whether it is an investment about Flats in Ulwe or flats in Kharghar, the buyer must assess the growth graph of that particular area. They must evaluate whether the area is in decline mode or has reached the point of saturation where there is an excess of amenities. If the property located in an area that is currently in the early stages of development, then the buyer must make themselves aware of how this development will affect their investment’s value.
Use:The buyer must first determine the use of the investment before zeroing on an asset as it helps in deciding the future course of action. If the buyer wants the asset for his personal purposes, they receive the benefit of self-utilization and capital appreciation. If the buyer wants passive income, renting or leasing is a good option. Then there is the option of long-term and short-term hold that gives a quick profit on resale or is suitable for options like retirement or educational expenses.
Points to check:
If the buyer is interested in buying a property in projects in Ulwe, then they should make a checklist of the following points:
- Confirm the travel accessibility like the nearest bus and train stations.
- Whether the area provides quick access to hospitals, schools and other amenities?
- The connectivity options to major business locations like Pune, Mumbai and others.
- The ongoing or completed infrastructural developments like good roads, drainage systems and others.
Documents:As RERA has mandated every builder to register their credentials, the buyer has to note down the registration number. They have to receive proper declaration stating the project completion period along with necessary land and building permits. The sale affidavit should contain the date of handover and the rate of interest in case of default from the builder’s side. Whether the buyer invests in Projects in Kharghar or others in Navi Mumbai, they should make sure that the property fits all their requirements and every point on the above-detailed checklist as it helps them secure the best property in town.
Want to know the top reasons as to why real estate investment is the best? Here they are:
Safety:If you are investing in projects in Navi Mumbai or any other across the country, the first benefit of that investment would be safety. Stocks and shares are another forms of investments that have the potential to give the highest returns, but they also carry around high risk. They face uncertainty as their prices rise and fall, but real estate investment does not carry that kind of jeopardy.
Appreciation:Historically, it is proven that real estate values increase over time. No matter of the dips in the market, if you are investing in a property in Taloja or anywhere else in the country, it bounces right back. Many Builders in Navi Mumbai are of the opinion that even though the market may face ups and downs, real estate gives a cushion for the investor to fall back.
Suits everyone:Real estate suits everyone’s investment goals, irrespective of its use. In case a buyer wants a buy a flat in projects in Kharghar as their first investment or buy any flats in Ulwe for rental income to diversify their investments, there are projects available.
Passive income:When investing in a Property in Navi Mumbai, there is an advantage of receiving passive income in the form of rent, till the time the investor owns the property. With the right tenants, the investor can get a guaranteed source of income every month as a surplus to their monthly earnings.
Tax benefits:By investing in projects in Ulwe, the investors would get tax benefits up to Rs.1.5 lakh as a deduction from their taxable income. The investor can also tax deductions for any renovation or reconstruction of the property.
Growth:When investing in Taloja projects, not only the property’s value increases, the property value will also increase when there is an improvement in infrastructures like easier access to shops, malls and other amenities. When the area is also well-connected by road, rail and air transport, then the property value will be on the rise.
Fiscal discipline:Many financial institutions offer loans for buying properties across the country. If an investor purchases Flats in Kharghar through the means of a loan, then they need to pay timely Equated Monthly Instalments (EMI). This practice instils financial discipline and urges the investor to make the payments on time.
Tangibility:Real estate investments are tangible in nature. They increase in value or stay in the same value unlike other investments like stocks that can lose value overnight or like a car that will decrease in value as the years go by. When it comes to investments, real estate has many benefits to offer and is one of the best ways for income and wealth generation.
Use these tips to add sparkle to your property in Navi Mumbai:
- Take glass jars of different sizes and place tea-light candles in them to give a cheerful glow in your flats in Ulwe.
- Add artificial wreaths that come with light bulb strings and hang them on your doors for that traditional Christmas welcome.
- If you want to have stars all over the place, then opt for twinkle star-shaped string lights all over the windows and doors for an ethereal look.
InteriorsMost Real Estate Developers in Navi Mumbai stress the importance of the living room when planning New year celebrations as its the focal point. Create an elegant look in the room by using the same kind of lighting effect. You can also wrap faux foliage to factor in the winter element. Just loop some bright ribbons to make the colours pop. Add some candles as well to give a glow to the room.
Colour schemeMost Builders in Navi Mumbai recommend a colour scheme to ring in the festive mood. You can either choose a contemporary or a traditional plan and build your way around them. The colors that are frequently used for decking up residences in projects in Kharghar are red, silver, gold and white. Over the years, there has been an infusion of many others like the pastel or the monochromatic shades that have enhanced the look of the room.
It is everywhereGearing up for New Year eve in your home at projects in Navi Mumbai is not just trees and gifts, the season’s greeting should reflect on every nook and corner of the house. Wrap your staircases, mantles or tables with garlands across its edges to bring on the festive cheer. Christmas themed pillows, cushions, throw pillows and the bright red colored rug is perfect to complete the look.The ultimate aim of bringing the festive cheer to your home is to bring family and friends together and to make wonderful memories on that day.
Here are some of the property trend that is important when choosing a property in Navi Mumbai:
Kharghar:This fantastic location offers many projects from Builders in Navi Mumbai as it is well-connected by local trains, NMMT buses, and Sion-Panvel highway. When compared to the other localities of Navi Mumbai, projects in Kharghar comes with budget options and is the third most developed node. Excellent infrastructure combined with all the amenities has placed Kharghar properties at the top of the list. The property prices range from Rs.4000-Rs.7000 per sq.ft.
Taloja:Taloja has one of the most affordable properties in the market. It is primarily divided into two phases and is recommended by property experts as a good and low-cost investment. Taloja Projects have the advantage of being a strategic location given it is the connecting point for local trains. It has many industries generating employment opportunities — the property prices in Taloja range from Rs.3000-Rs.6000 per sq.Ft.
Ulwe:Just like many other localities of Navi Mumbai, Ulwe is a rapidly developing area. Roads well connect it, and the New Uran Road connects it to the Belapur CBD (Central Business District). Given the infrastructural planning and the Special Economic Zone by Reliance coming up near the projects in Ulwe, it has become a hot destination for buyers looking to invest low and reap high benefits in the future. The property prices in Ulwe range between Rs.5000-Rs.10, 000.
Panvel:After Kharghar, Taloja, and others, the next in line is Panvel. It is considered to be the fastest growing locality after Kharghar. The ongoing Navi Mumbai International airport is also near Panvel and is the important center point for many highways that pass through it like the Mumbai-Pune Expressway, Sion-Panvel Expressway, NH 4B and NH 66. If the buyer is looking for access to Mumbai, then Panvel will be the right choice as it is located so close to the dream city. The property prices in Panvel range around Rs.4000- Rs.9000. Whether it is an individual property or Flats in Kharghar, investing in Navi Mumbai has its benefits. It is well connected to Mumbai and Pune. The city’s ease of living index and cleanliness has been attracting buyers ever since property prices in Mumbai reached sky high. Coupled with the implementation of the Real Estate Regulation Act (RERA) that strives to protect the buyer’s interest and safeguard them from fraudulent practices, it is the right time to invest in Navi Mumbai also referred as Second Mumbai by the local inhabitants. Investing in homes at Panvel or flats in Ulwe, Navi Mumbai is the correct choice for buyers who are looking homes under a budget.
Here are some ways through which you can increase the home’s value through remodeling:
Kitchen Remodeling:For most of us, the kitchen is the heart of a home. According to experts, people looking at the property pay special emphasis on how the kitchen is maintained and you can regain about 60%-120% of your investment by renovating the kitchen. Never should the kitchen be fancier than the other areas of the home. The size, fit and the quality of the kitchen should be in tune with your home in Taloja projects as buyers would never pay for the fancy and deluxe kitchen.
Repaint the walls:Many realtors are of the impression that to impress potential buyers, repainting is necessary. A Flat in Kharghar or any other areas of Navi Mumbai must be listed in the market only after repainting. A fresh coat of paint can add more value to the property. Experts recommend the neutral tones of gray, beige or pastel colors of pink, lilac, lavender that will give a calming and charming interior.
Landscaping:If you an individual property in Taloja, it is a wise decision to invest in landscaping. The first impression is the best impression and when buyers arrive at the property if the garden in unkempt it can ruin the impact. Beautiful landscaping will help in setting the right tone along with increase the aesthetics of the home. There is no need to invest in landscaping heavily, simple placement of beautiful potted plants in a grass bed and a bench or a table with chairs placed under a canopy will be a beautiful sight.
Windows:Replace the old windows in your flats in Ulwe to freshen the look of your home. Buyers looking for projects in Navi Mumbai are likely to purchase a home that comes free of drafts and other problems. However, replacing windows is not required unless you notice the signs of decay, rust and condensation problems.
Reinvent the look of a room:Sometimes, there will be a room that has been least used in or a space that is not much of use. Builders in Navi Mumbai recommend converting the space into a separate area like an entertainment room and a quiet place for reading. But, sometimes the expense of converting a room can be huge and the returns low. So, it is prudent to remain within the budget when reselling the property. Whether you are selling your individual home or flats from the projects in Kharghar or any other area in Navi Mumbai, it is prudent to renovate the space within the limit to fetch a good price for your property.
Don’t compare:Overconfidence is a no-no when it comes to selling your Flats in Kharghar or any other area. Never compare your friends or neighbor’s home sale experience with your experience. When it comes to the market, the dynamics are very much local, and you should be well informed of the current market situation.
Pricing:It is prudent to price your property in Taloja competitively, to get more buyer responses. Pricing your property incorrectly can lead to a severe loss. Real Estate Developers in Navi Mumbai are of the view that the real estate segment is on the rise, but the seller should mind the purchasing power of the buyer. Before pricing the property, have a look at the unsold properties and price your home in the Taloja projects. To facilitate the sale effortlessly, it is best to keep the paperwork handy with all the required approvals, permissions, and receipts.
Clean your home:One of the primary requirements for getting your home ready for sale is the cleaning of your property located in projects of Ulwe. Every room should be sparkling clean along gleaming windows, clean counters and spruced grout. Even it may look simple; it is quite a difficult task to do it all by yourself. Builders in Navi Mumbai recommend the use of professionals to achieve the sleek look.
Declutter space:Before putting up your flats in Kharghar for sale, it is best to declutter the space. When space is clear, the buyer will be able to determine if the house is correct for their needs. Remove all the furniture and other stuff from the kitchens, attic as clean and clear surfaces, floors, cupboards, and wardrobes account for more space than filling it with things. In case you are living there until you can arrange another place, keep your items neatly organized. Stow away the toys and other knick-knacks to get a sleek look.
Advertise smartly:While taking steps to sell your flats in Ulwe, it is best to spread word of mouth through friends, relatives or even colleagues at work. The seller can also use their social media accounts to advertise their home. There are many online portals nowadays, that lets the user post free ads to sell or rent their property.
However, there are some guidelines when posting your property ad:
- Upload many pictures of your home in the site.
- Never furnish wrong information about the property. Nowadays with a click, the buyer will know the exact details.
- Highlight the features like power back-up, security, guest rooms, club, spa, convenience store and other amenities available for the property.
- Availing premium services is a good idea when staging the home for sale. These services will put your ad in the top and will be easily found by the buyers looking for projects in Navi Mumbai.
Here are some ways to prepare for a home inspection:
Clean your home:Keeping the home clean is the most vital part when preparing for home inspection. Cleaning every nook and corner, clearing the cobwebs and maintaining the space tidy and organized is vital. Keeping sink and bathrooms free of clogs and grime and cleaning other areas are the other items of the list. Clean homes create a good impression on potential buyers.
Utilities connected:When planning for a home inspection, it is best to leave all the utilities connected like water, electricity and others even if the house is vacant. The home inspector cannot check the status of these utilities, in case it is not connected and will lead to the extra scheduling of home inspection. It will be a huge waste of time for both parties.
Clear the space:When preparing for inspection, remove book cases, furniture or boxes for ease of access. Having at least three or four feet of moving area will help the inspector to inspect the working condition of the heater, air conditioner and other electrical fixtures. If the home inspectors are unable to check them, they might infer a specialist, and it might lead to bigger problems.
Clear the exterior:A home inspection is not only confined to the inner space of the home, but also to the outer areas like gardens, backyards and garage. Clean and trim your plants, grass and clear out the weed. Make your lawn look presentable as it also enhances the look of your house. Keeping your garage neat and organized will present a good impression on the buyer and the home inspector.
Check lighting:Before scheduling a home inspection, it is prudent to check your light fixtures. If it is not in a working condition replace it immediately. Make sure all the bulbs are working quite well without any problems. Faulty bulbs might lead the inspector to reach a wrong conclusion, that the wiring is faulty.
Hire a professional cleaner:Avail the service of professional cleaners before scheduling the home inspections. Deep cleaning the kitchens and the bathrooms can make your home look very immaculate. Deep cleaning also gets rid of the grime and clogs in the kitchen and bathroom drains. Also check for any bugs, termites or ants under the flooring and in the corner of the rooms.
Attic access:Home inspectors undertake a full inspection of your house including every nook and corner. Clear a path to the attic and keep it clutter free and dust free. If your attic has cobwebs and insects, it will reflect negatively in the report. Maintaining each and every part of the attic clean is necessary. When planning for a home inspection, it is necessary to follow these simple tips. Additionally, you also need to:
- Provide the home inspector and the buyer complete access to your home.
- Have all the documents including the renovation, upgrade of new fixtures and furniture, repair receipts and any other costs associated with the upkeep of the house.
- Repair the faulty items and make sure they are in working order.
Author:Siddhivinayak Homes is dedicatedly working for more than 10 years & today, we are one of the premier property development firms in Navi Mumbai real estate sector. Buy home Projects in Navi Mumbai.
First comes the type of investments:
1.Land:This type of investments comes with no buildings or any other assortments. The property is in a raw and natural state. Nevertheless, this type of investment comes with some setbacks like even though it can generate a profit, it cannot guarantee a passive income. The investor has to be continually monitoring the land so that there are no illegal possessions and also be updated with their documents.
2.Residential real estate:In the residential real estate, the properties are mainly apartments and houses that are rented out to families or individuals to occupy. This type of investing can be quite lucrative if managed diligently. Many investors prefer this option as it can generate passive income for the years to come.
3.Commercial real estate:As the name suggests, commercial real estate indicates the investments made in properties like offices, malls, and others. For generating wealth, this type of investment suits the best. Benefits of this investment include steady cash flow, an increase in rental and capital appreciation over the years when compared to residential investments.
4.REIT investments:Real Estate Investment Trusts are companies that manage properties. REIT’s are one of the best sources of passive income. By investing their money in trust, the investors will receive a return on their share of investment and at the same time can pursue their occupations. REIT investment is suitable for beginners as it comes with many options.Once, the investor is clear on the type of property they want to hold, then the strategies of real investment are next. Many kinds of real estate investment strategies are available. Investors can start with low-risk investments like renting or leasing. Slowly, they can move forward to the next level of investments.
5.Buy and hold:Buy and hold strategy is where the investors buy a property for low prices and sell it when there is a considerable capital appreciation of the property. An investor can hold on to the property as long as they wish and this strategy is one of the safest ones when embarking on real estate investments.
6.Rental Strategies:If the investor is looking for a steady passive income, then the rental strategies are the best. Given the scenario of today, the investor can either go for the traditional type of renting the place for 11 months contract or can use the modern channels of Airbnb, Oyo, and others to earn income. The difference between these two is that the former will have a longer duration of rental whereas the second option will be in days or a month maximum.
7.Others:Some of the other strategies are fixing and flipping and wholesaling. Experienced investors use these, and it has many kinds of nuances. Going through this methods will require a substantial amount of funds, resources and comes with risks. But still, the rewards will be worth the effort. For beginners in real estate investments, the above ways of renting and buy and hold are suitable.
Tips to succeed in real estate investment:
- Investors should keep themselves updated with the real estate industry by attending events and courses held by the experts in the field. Be well versed in the basics will help to avoid any big mistakes and in case of a fault, it becomes a lesson in real estate investment.
- Networking is an important aspect when it comes to real estate. Having good contacts in the filed can save time and effort. It might even help when scouring for financial resources to fund the investment.
- Negotiation is the basic survival skill of a real estate investor. Nevertheless, to negotiate successfully, the investor has to know exactly what they want.
- A support system of experts who can counsel and provide advice on real estate investments is beneficial. They should be the people who know the field well.
- The investors should know the location as it is what that matters. Investing in an upcoming area will be profitable, rather than investing in land or property that is not worthy. Researching well before investing, without blindly believing the words of the agent is the correct way to invest in real estate.
Here is the list of advantages of purchasing a property in Navi Mumbai:
1.Navi Mumbai is a planned city and is an alternative to the over-crowded city of Mumbai.
2.The City and Industrial Development Corp of Maharashtra (CIDCO) has undertaken the planning of Navi Mumbai with a view of fulfilling the infrastructure needs of a modern metropolitan area.
3.The industries of chemical, pharmaceutical, engineering, textile processing, electronics, oil and oil processing, paper, plastic, steel and food industries are rampant in the area of Taloja and its surroundings.
4.The Thane-Belapur industrial belt of Navi Mumbai has Special Economic Zones (SEZ) and IT units that encourage the participation of native and foreign companies in the local economy.
5.The Navi Mumbai international airport is also a great alternative to the Mumbai International airport. The airport is equipped to handle more than a million passengers a year.
6.Navi Mumbai has the potential for higher rental yields due to the increasing employment opportunities in and around the areas of Navi Mumbai.
7.There are Builders in Navi Mumbai that offer many types of properties for sale in various price ranges for every budget.
8.Many IT companies are opting for office spaces in Navi Mumbai as it is quite cheaper when compared to the rent of the retail space in Mumbai.
9.The improved connectivity between the suburbs of Navi Mumbai is also a significant advantage and has contributed very much to the growth of the city.
10.Navi Mumbai ranks 3rd in terms of cleanliness and hygiene in a poll conducted by Union Ministry of Urban Development and Quality Council of India which is the part of Swatch Bharat Abhiyan amongst the 436 cities of India.
11.The areas of Kharghar, Ulwe, Taloja and Vashi are witnessing a massive investment in terms of residential properties.
12.The City Industrial Development Corporation of Mumbai (CIDCO) has also allotted more than 800 acres of land for Navi Mumbai’s development.
13.Navi Mumbai’s also has fast and responsive government agencies that have undertaken many infrastructural projects to make the area more inviting to residential and commercial investors.
14.Navi Mumbai is well connected to Mumbai, Pune and other areas of Maharashtra thereby making it a central point.
It is an undisputed fact that Navi Mumbai is headed for a massive development in the coming years.