Realty Queries answered by Gulam Zia ED, Knight Frank (India)
My office is in Malad West, should I buy a 1 BHK apartment in Borivali or somewhere in Vile Parle- Andheri belt? Which area will be more convenient in terms of amenities, stores, transport and infrastructure?
Social and physical infrastructure in Vile Parle-Andheri belt is better than Borivali. As far as the access to shopping destinations, leisure zones, education and healthcare facilities, airports, metros, and even office destinations, are concerned Vile Parle- Andheri belt score much higher than Borivali. However, the prices in Borivali will be far lower than the other option, which will also reflect on the availability of 1 BHK configuration. Vile Parle- Andheri belt may have very few options to look into for 1 BHK. So striking a balance based on your budget will be the key to the right decision. You may end up sacrificing on infrastructure advantage in case of budgetary constraints.
I am planning to shift to Mumbai from Lucknow, as my office is in Lower Parel. Please suggest a good area for a rental 2 BHK and its expenses?
There are various residential destinations in and around Lower Parel, to suit different budgets. Prabhadevi, Mahim, Matunga, Dadar, Byculla, Worli and Lower Parel itself have enough options starting from Rs 75,000 per month to above Rs 3 lakh per month for a 2 BHK. If your budget is less than Rs 75,000 per month then you may have to look at suburbs. I am an NRI settled in Dubai and looking at investing in Indian real estate. Does investment in tier-II & III cities make sense? Which will give better returns, small town or big cities? Real estate price appreciation does not follow a different trend for a metro versus rest of the cities. Major drivers for price increase are infrastructure improvement and job creation. If it is seen that a few tier II & III cities have given better price appreciation at a certain point in time than many metropolitan cities, it is due to one of the two drivers stated above. So, it is better to not generalise a metro vis-avis tier II & III cities, and you should explore every investment opportunity carefully and take a decision based on one of these two reasons, should you buy for capital appreciation.
Please send your queries on Realty to et.realty@timesgroup.com
My office is in Malad West, should I buy a 1 BHK apartment in Borivali or somewhere in Vile Parle- Andheri belt? Which area will be more convenient in terms of amenities, stores, transport and infrastructure?
Social and physical infrastructure in Vile Parle-Andheri belt is better than Borivali. As far as the access to shopping destinations, leisure zones, education and healthcare facilities, airports, metros, and even office destinations, are concerned Vile Parle- Andheri belt score much higher than Borivali. However, the prices in Borivali will be far lower than the other option, which will also reflect on the availability of 1 BHK configuration. Vile Parle- Andheri belt may have very few options to look into for 1 BHK. So striking a balance based on your budget will be the key to the right decision. You may end up sacrificing on infrastructure advantage in case of budgetary constraints.
I am planning to shift to Mumbai from Lucknow, as my office is in Lower Parel. Please suggest a good area for a rental 2 BHK and its expenses?
There are various residential destinations in and around Lower Parel, to suit different budgets. Prabhadevi, Mahim, Matunga, Dadar, Byculla, Worli and Lower Parel itself have enough options starting from Rs 75,000 per month to above Rs 3 lakh per month for a 2 BHK. If your budget is less than Rs 75,000 per month then you may have to look at suburbs. I am an NRI settled in Dubai and looking at investing in Indian real estate. Does investment in tier-II & III cities make sense? Which will give better returns, small town or big cities? Real estate price appreciation does not follow a different trend for a metro versus rest of the cities. Major drivers for price increase are infrastructure improvement and job creation. If it is seen that a few tier II & III cities have given better price appreciation at a certain point in time than many metropolitan cities, it is due to one of the two drivers stated above. So, it is better to not generalise a metro vis-avis tier II & III cities, and you should explore every investment opportunity carefully and take a decision based on one of these two reasons, should you buy for capital appreciation.
Please send your queries on Realty to et.realty@timesgroup.com
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