Andheri
Andheri is the largest suburb of Mumbai and is one of the prime residential and commercial zones in Mumbai. The suburb has a good mix of both residential and commercial real estate and is a hub for economic activities. It has the best network of road, rail, and metro networks connecting it seamlessly to the different parts of the city. The locality has seen growth in real estate development and property prices. Investing in Andheri is bound to give the best returns as it has a thriving rental and buyers’ market.
Navi Mumbai
Navi Mumbai is one of the best locations for investment due to the many infrastructure developments taking place here. The Navi Mumbai International Airport is expected to boost its economy and real estate developments. New commercial and residential developments offer great potential for growth to NRI investors who invest here. The most attractive aspect of investing here is its affordability compared to most other regions of Mumbai. By staying invested NRI investors can expect healthy returns over the next decade.
Thane
As Mumbai expanded and its population increased, many Mumbaikars moved to Thane as this satellite city offers a cleaner and greener environment for living a comfortable life. This boosted Thane’s real estate which has seen remarkable growth in the past decade with top real estate developers having a significant presence in the city. Investing in Thane can give healthy returns in terms of the rentals earned and value appreciation as more people choose to set base here.
Wadala
Poised to become the next commercial hub of Mumbai, Wadala boasts excellent connectivity via the Eastern Freeway and metro network. The suburb is said to assume significance as a replacement for South Mumbai with many reputed developers having luxury residential and commercial developments here.
Regulations for NRI Investments
The Foreign Exchange Management Act (FEMA) allows NRIs to invest in most types of residential and commercial properties except agricultural land, farmhouses, and plantation properties. NRIs can use funds remitted from abroad or their NRE accounts to buy property. Repatriation of sale proceeds and rental income is subject to regulation and tax implications. NRIs should consult legal and tax experts to understand the regulations related to property investments in Mumbai.
NRIs can successfully invest in Mumbai by following the regulations laid out for them and doing proper research while selecting the properties to invest in to get the maximum benefit from their investments.
