The business of real estate is booming to a great extent and the zone is related with the busiest metropolitan city, Mumbai. There are various changes, which are taking place in this genre and the latest is related to senior citizens. They are becoming the new customer segment, associated with property developers along with other allied providers.
The main aim is to create a proper living environment suitable for the senior citizens. It has also been found out that their population is going to grow to 173 million, by 2025 and, therefore, senior citizens are looking for a potential hike in the area of real estate market.
Seniors are looking up with hope
The adaptive weather along with easy accessibility towards the socializing spots is some of the significant points behind the growing popularity of the real estate users in Mumbai. According to a study, it has been found out that there are going to be nearly 30 senior living projects (townships) which are going to come up all over India along with major parts in Mumbai area.
Stability in the property investment policy
Over the quarter, it has been pointed out that the MPI has grown in a stabilizing manner in the Mumbai area. The home buyers are asked to look out for the property prices in Mumbai as the region is going to stabilize with ease. This might also help in maintaining the investment potential of the high end risk over a time period of few months. As per the latest statistics it can be well stated that the MPI of Mumbai shows a hike of 1.8%. The home owners can also hope for further decrease in the land segment, which makes it an ideal time for the home buyers to make real time property investment.
Some civic issues to focus at
There are some significant civic issues, which are going to be focused at while thinking about real estate investment in Mumbai. There are some illegal apartments, which can be seen in Mumbai zone, which are up for demolition and the municipality is taking a look at the same.
On the other hand, there are some issues related to pollution, traffic problems which one needs to consider before making a purchase decision.
Senior citizens can also consider various other options available across the country where the pollution is less and also the cost of living is low. Before making a purchase of property it’s essential to study the legality of the project.
This is a guest post by CommonFloor