Rental Tales - The Rental Advantage
If you are planning to invest in an apartment for rental returns, keep the below mentioned areas in mind before taking the plunge.
In today's day and age, rental returns are one of the key determinants an individual keeps in mind, particularly if he/she is buying a house for investment purposes.
So, which areas across Mumbai offer excellent rental returns?
According to a recent research, the following four areas give an average rental return of three per cent and above:
Vikhroli, a locality of the eastern suburb is largely a residential area but is turning into a commercial destination of late.
The price of a 1-BHK house is in the range of Rs 55 lakh and 1.2 crore and the rental yields are in the range of Rs 20,000 and 28,000 per month. The rental yields of 2-BHK are in the range of Rs 45,000 and 75,000 per month and the capital values are around Rs 2 to 3 crore.
Mulund is located between two strategic nodes of Thane and Navi Mumbai. The locality lies close to a number of developed areas of the city and is home to some of the largest companies of India. As a result, it has risen as a key residential and commercial hub.
The price of a 1-BHK here is in the range of Rs 85 lakh and 1.5 crore and the property commands rental returns in the range of Rs 20,000 and 30,000 every month.
It is one of the most developed areas of Mumbai, with a rising number of residential and commercial complexes. Also, it is a preferred location for its seamless connectivity with the business destinations.
The property prices of 1-BHK are in the range of Rs 1.25 to 2 crore and the rental yields are around Rs 30,000 to 50,000 every month. 2-BHK apartments in this locality costs around Rs 2 to 3.5 crore with the rental returns of Rs 50,000 to 80,000 a month.
Economic growth, coupled with infrastructural development makes Goregaon a key locality.
The price of a 1-BHK apartment in this locality is between Rs 90 lakh and 1.2 crore and the rental values are around Rs 20,000 to 30,000 per month. A 2-BHK apartment costs around Rs 1.4 to 2.5 crore and the rental yields are in the range of Rs 45 to 65 lakh a month.
Properties in Thane Ghodbunder Road Contact Ace Constructions sales office