Buying a home in Mumbai is something most people in the country see as a dream. With property rates soaring, there is no telling as to how expensive they can get in the coming years. The reasons behind this are several, such as plenty of job opportunities to advance careers, high standard of living, good public transport, and of course, a better life, owing to more opportunities in Mumbai than most other cities in India.

If you’re one of many planning to invest in a residential projects in Mumbai, here are some points to bear in mind before going ahead:

1. Official documentation

One of the most important things to be aware of before making a home Investment is to ensure all the official documents are in place by the real Estate Developers. Of the list, the most important ones include the title deed, release certificate, approvals by the local body, property tax receipts, and also the list of banks financing the project.

2. Buying v/s renting

Whether you’re looking at a place from a personal, rental, or investment point of view, it is essential to consider everything before placing your bet on it. It pays to assess situations in your mind such as renting out the place if the need arises and if so, what would your stance be.

3. Location and infrastructure

Every single aspect of a home can be changed; however, the location will always stay constant. Research, analyze, and understand the locality you are going to invest in. Connect with real estate developers as well. When it comes to infrastructure, it completely depends on your needs, hence, it is a good idea to survey the real estate market and talk to builders.

4. Additional amenities & facilities

Before ploughing money into the project ask if modern amenities and facilities are a part of the deal. Going ahead, these include a spa, gymnasium, jogging track and sports area, swimming pool, etc. Keep an eye out for these before investing.

5. Future plans

Analyze your future plans before deciding on a place. The strength of your family, distance from schools/colleges/workplaces, etc. are all important. For starters, a property in Mulund, Vikhroli, or Navi Mumbai is a great option as these areas are developing and aren’t too costly either.

What else to know?

Apart from these, it is also important to make a list of characteristics that you consider important, for example, a park for kids to play. Do plenty of research, understand the current market scenario, and talk to people in the locality (once you decide upon it) to gain their perspective of living there, before spending money on the home investment plans.