Mumbai Real Estate A Prospective Investment Option Article

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Mumbai real estate a prospective investment option

Author: Michaelle

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Mumbai, formerly known as Bombay is the financial capital of India. It is designated with this status since this city harbors the heart of India’s economy - such as the Reserve Bank of India (RBI), the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Besides being the influential center for economy, Mumbai is also the commercial capital of India contributing 10% of factory employment, 33% of income tax collections, 60% of customs duty collections, 20% of central excise tax collections, 40% of India-s foreign trade and Rs. 40,000 crore in corporate taxes.

But the last couple of years have transformed Mumbai from a simple metropolis to a mega polis with thriving markets, endless opportunities in the labor sector, business houses, ultramodern housing system which helped attract millions of people from all over India and abroad to live and be a part of the Mumbai city. Mumbai is called the ‘City of opportunities’ and consequently the city of strugglers who contemplate Mumbai to be their base for achievement in life, whether in business or any other field. Mumbai has ample opportunities for all who dreams to achieve. And history speaks for itself.

Mumbai has been the base for prominent business conglomerates like the Tata, Reliance, Godrej and Birla. Besides them, Mumbai is the corporate headquarters of many Indian companies like Bajaj Auto, Dabur Pharmaceuticals, Bombay Dyeing, DSP Merrill Lynch and Hindustan Lever to name a few. And many global companies have made Mumbai their operational base with many foreign establishments having their branches in the South Bombay area. Many foreign banks and financial institutions also have branches in this area thus making the downtown area of South Mumbai, the nerve centre of the Indian economy and this core area called the "Island City" has the most expensive real estate in India.

Another feather in the cap of Mumbai’s economy is its advantages of being a port city. The city has a deep natural harbor and the port handles over half of India-s passenger traffic and a significant amount of cargo. Besides that Mumbai also houses Bollywood – the heart of Indian Film industry and therefore can also be acknowledged as the entertainment capital of India. All this factors have contributed to the large number of migrants from all over the country creating a void for residential spaces in the city. This has encouraged real estate developers to participate in property investment in the residential sector; which has not only changed the skyline of the city but has also brought about an upsurge in the already booming Mumbai property market.

About Author

Michaelle Sui is an associated editor to the website http://www.indianground.com. Indianground is dedicated to explain all your related queries for real estate India and India properties, with the latest news updates. Your feedback and comments will be highly appreciated at “michaellesui@gmail.com”.

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Mumbai real estate a prospective investment option