Inexpensive property in Mumbai is now more than just a dream!

Buying property in Mumbai might be a pocket-burning affair more often than not. However, a few major developers have realized the potential of developing less-expensive real estate in Mumbai. Some of the biggest players in the real estate industry including Tata Housing, Neptune Developers, Sanghvi Group, etc. have begun developing areas located on the outskirts of Mumbai. Localities such as Boisar, Asangaon, Dombivali, Ambivali and Karjat are transitioning into well-developed areas that could soon match some of Mumbai’s prime suburban destinations.

Quoting Shailesh Sanghvi, director, Sanghvi Group and secretary, MCHI Mira Virar unit, “Rates are lower for projects located in far flung developing suburbs due to lower land prices.” Approvals are easier to obtain in areas such as these, decreasing the building time and costs. This in turn leads to inexpensive production costs, eventually pulling down price tags. Developers understand the need for less-expensive property in Mumbai given the fact that this certainly helps hold the real estate market in place while subsequently providing inexpensive houses closer to the city.

Tata Housing, one of the many developers indulging in affordable housing development, is also subsequently developing high-end projects. “Both segments are growing and thus important to the company. As far as the affordable segment is concerned irrespective of what happens in the economy, the end-user would come. There would never be a correction in the prices of an affordable project as it is already so low. And thus there is no dearth for demand. One can sell affordable housing as long as your product is good and it is situated at a good location,” says Rajeeb Dash, the marketing head at Tata Housing Development.

Currently, affordable apartments in Mumbai such as these come with price tags ranging from as low as Rs. 500,000, rising up to Rs. 3,000,000. Also, these apartments aren’t particularly small and space-deprived. Most of these come with modern-day amenities and are designed and built meticulously, keeping quality in mind. To know more about these fantastically inexpensive housing options by renowned real estate developers in Mumbai, visit  www.snapghar.com  today.