Convenience ranks as a top priority for homebuyers in Mumbai

The home buying process in Mumbai is witnessing a sea change with multiple factors at play. There is a perceptible change in the mindset of a home buyer who no longer believes that location plays a pivotal role or is the most important criteria when it comes to buying a home.  

Today, the ‘convenience’ factor is what a home buyer looks at when making that important home buying decision. A prospective customer will look for large retail outlets or Malls that are located nearby or close to the housing complex along with other social infrastructure. This makes it convenient for residents to make purchase of regular household goods or indulge in shopping or enjoy in leisure and entertainment activities or save time in commuting to office.

According to Track2Realty’s Consumer Confidence Survey, “Contrary to the industry narrative of bigger houses and preferences shifting to periphery locations, Indians are increasingly looking for convenience and lifestyle choices with a compact house.”

This changing perception of home buyers has come about due to improved connectivity within Mumbai and adjoining areas in the MMR region. There are a number of infrastructure projects that have been completed and some major projects ongoing which promises to enhance connectivity even further and help reduce commute time. This brings us to the question of where do you find such areas in Mumbai where people are flocking in order to purchase their desired home. The western suburbs of Mumbai like Goregaon, Kandivali, Borivali and even Mira Road are seeing huge demand for housing. This comes on the back of major infra projects being undertaken that will connect South Mumbai to the western suburbs in the north and beyond. 

Mumbai is upgrading with a number of world class infrastructure projects underway, giving a boost to the housing sector. Suburban areas are now better connected with South Mumbai which provides the home buyer with a plethora of buying options. Suburban Mumbai offers residents with all the convenience required for a comfortable living in close vicinity to their residence.

In conclusion, rapid urbanisation along with world class infrastructure has propelled the growth of the housing sector. The concept of selling a project solely based on its location can no longer be capitalized on. Home buyers have moved ahead and are now looking at buying into a project that sells convenience to its prospective customers. Apart from convenience, the project should be close to infrastructure projects to make it an attractive proposition to home buyers.