PROPi.IN
Guest
Login
Register

Is it better to rent or buy a property in Mumbai

Log in Register
Home Is it better to rent or buy a property in Mumbai
info@propi.in 9819311244
About PROPi
Account Activation Terms of Service Disclaimer Privacy Policy Refund Policy
About Us Contact Us

Is it better to rent or buy a property in Mumbai

Is it better to rent or buy a property in Mumbai

Is it better to rent or buy a property in Mumbai

Whether it is better to rent or buy a property in Mumbai depends on individual circumstances and preferences. Here are some factors to consider:

  1. Financial situation: Buying a property in Mumbai can be expensive, with high down payments, home loan interest rates, and other fees. If you have the financial means to afford the upfront costs and ongoing expenses of owning a property, it may be a good investment in the long run. On the other hand, renting may be more affordable and flexible, particularly if you do not have a stable income or are not ready to commit to a long-term investment.

  2. Lifestyle and preferences: If you are planning to stay in Mumbai for a long period of time and want to establish roots in the city, owning a property may be a better option. This would give you a sense of stability, and you would not have to worry about finding a new place to live every few years. However, if you prefer a more flexible lifestyle and like to travel or move around frequently, renting may be more suitable.

  3. Location and availability: Property prices and availability can vary widely depending on the location in Mumbai. If you are looking for a property in a prime location, you may find that buying is a better option, as it would allow you to own a piece of prime real estate in the city. However, if you are looking for a property in an area with high rental demand, you may find that renting is more affordable and convenient.

  4. Maintenance and responsibilities: Owning a property comes with additional responsibilities, such as maintenance and repair costs, property taxes, and insurance. If you are not prepared to take on these responsibilities or do not have the financial means to do so, renting may be a better option, as the landlord is responsible for these expenses.

In conclusion, whether it is better to rent or buy a property in Mumbai depends on your financial situation, lifestyle, location preferences, and responsibilities. It is important to carefully consider all these factors before making a decision.

Next Article : Does the Stock Market prices going down impact real estate market
Previous Article : Morgan Stanley Leases out Prime Commercial Space in K Raheja Altimus at Worli
About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/

Recent News