Investment in land is considered a profitable investment option and as a reason lot of people invest in land. Also, investing in land near a city like Mumbai which has appreciated in terms of Real Estate at a rapid pace has plenty of advantages.
Given below are the reasons why you should Invest in land near Mumbai:
1) High Demand: Mumbai the financial capital of India is also the most populous city in the world. The constant influx of population has created a huge demand for residential, commercial & industrial properties which in turn has driven up prices for land both in Mumbai & also in the nearby areas.
2) High Potential returns: Due to lack of space & high population density the value of land in and around Mumbai has historically appreciated at a rapid pace. Therefore investment in land can lead to significant returns in the future as the demand continues to rise.
3) Rapid Urbanization & Economic Development : Being the financial capital of India & due to increased urbanization the economic & infrastructure development of Mumbai is happening at an extremely fast pace. As a reason, Investment in land near Mumbai can provide you an opportunity for a significant appreciation over time.
4) Expansion : To accommodate the growing population, Mumbai is witnessing urban sprawl. After Mumbai & Navi Mumbai the third Mumbai is developing near Karjat, Khalapur & Panvel. These areas are being developed into satellite towns and urban centers thereby presenting opportunities for lucrative land investment.
5) Strategically located : The City of Mumbai is strategically located providing businesses and residents an opportunity to access various amenities, services & employment opportunities. The strategic location of the Mumbai city enhances the value of land investment in Mumbai & the nearby areas.
6) Business Hub : Mumbai is on the list of top ten commercial hubs around the world. Mumbai is a home for various sectors ranging from finance, entertainment, real estate, information technology, and manufacturing to name a few. Therefore investment in land provides an opportunity for commercial development like office spaces, retail centers, industrial parks and more.
7) Residential Demand : The ever–growing population of Mumbai & its surrounding areas has created an increasing demand for residential properties. Navi Mumbai is a prime example of this. Starting from Vashi till Ulwe, Navi Mumbai has developed into a residential hub. Due to the perpetual need for housing, investing in land in Mumbai and nearby areas for residential development or resale is a profitable option.
8) Tourism Potential: Areas near Mumbai like Karjat, Wada, Neral, and Palghar have huge potential for Tourism. Since these places are just a couple of hours’ drive from Mumbai, tourists flock to these destinations. Therefore, investing in land in these areas can yield returns through tourism-based developments like hotels, resorts, homestays & and other recreational facilities.
9) Stability & Diversification: Despite fluctuations in the economy, the real estate market in Mumbai & the nearby areas has shown resilience and stability over the long period. This stability provides confidence to investors seeking to invest their capital in land assets. Also, Land investment near Mumbai can serve as a diversification strategy for investors who want to spread their portfolio across different asset classes. Also, Land is considered a tangible and relatively low-risk asset compared to stocks or bonds.
10) Future Development Potential: As Mumbai continues to develop and evolve, land parcels that are currently undeveloped or underutilized in Mumbai and the nearby areas may witness significant development in the future. Let’s focus on Karjat, which is around a couple of hours drive from Mumbai & is easily accessible by the Local Train as well. Reliance has bought 800 acres of Land in Karjat. The upcoming Karjat-Panvel local train will reduce the travel time up to 20 Minutes. Also, the proposed Panvel-Bhimashankar Highway is passing through Karjat. Also, State Highway has been converted to National Highway 548A. These factors has increased the land rates immensely in Karjat providing opportunities for capital appreciation and returns on investment.
However, while investing in land it is absolutely crucial to conduct thorough research and consider factors such as zoning regulations, land use policies, infrastructure plans, and market dynamics before making any investment decisions.
So if you are contemplating investing in land it is highly advisable to consult a real estate consultant who has proper knowledge & expertise in the field of land investment.