luxury properties in Mumbai.

5 Things to Keep in Mind While Buying a Luxury Property in Mumbai

18 Mar’24

Composed By: Sanjeev

Mumbai is known as the city of dreams and is the financial capital of India. Besides being a city that drives ambitions, Mumbai offers some of the most exquisite and lavish properties for you to call home. For those seeking a high-end lifestyle, buying luxury properties in Mumbai checks all the boxes. However, finding a property in Mumbai is not easy. There are many factors to consider before investing your hard-earned money in a premium property.

So, without any further delay, let's explore the 5 most important things you should remember while buying luxury properties in Mumbai.

The Top Factors:

Here are the five things you must keep in mind while finalising a deal for your new property.

1. Location:

luxury properties in Mumbai - Homesharp

Location is the key factor that determines the value and significance of a luxury property. Mumbai has several prime locations that offer stunning views, convenient transportation, and proximity to social and commercial hubs. Some of the most demanded locations for luxury properties in Mumbai are Worli, Bandra, Juhu, Malabar Hill, Cumballa Hill, and Colaba. These areas host some of the most popular attractions, such as the Bandra-Worli Sea Link, the Gateway of India, and Marine Drive, along with the best restaurants, malls, and entertainment options. However, these locations come with a hefty price tag, so be prepared to shell out a fortune for one of the best properties in Mumbai, particularly in these areas.

2. Amenities:

luxury properties in Mumbai - Homesharp

Amenities are another crucial factor in deciding to buy luxury real estate in India. A luxury property in Mumbai should offer more than just basic amenities like power backup, water supply, and security. It should also provide advanced and exclusive amenities, such as a private pool, gym, spa, clubhouse, concierge service, and smart home system. These amenities enhance the comfort and convenience of the residents and add to the prestige and status of the property. Hence, always check the amenities a property offers before finalising the deal.

3. Quality:

luxury properties in Mumbai - Homesharp

Quality is one of the most important factors for a luxury property. A luxury property in Mumbai should feature superior construction, design, and fittings, built by a reputed developer known for delivering high-quality projects. The property should also boast a unique and elegant design that reflects the character and personality of the owner, with the best fittings and fixtures, such as marble flooring, wooden cabinets, branded appliances, and imported sanitary ware. The quality of a luxury property should be impeccable and flawless, leaving no room for compromise or dissatisfaction. So, never miss checking for your dream facilities and amenities in your property.

4. Space:

luxury properties in Mumbai - Homesharp

Space is the ultimate luxury in a city like Mumbai, where space comes at a premium. A luxury property in Mumbai should offer ample space for residents, both inside and outside the house. Look for properties with spacious rooms, high ceilings, large windows, and balconies, as well as a generous amount of open space, such as a garden, terrace, or lawn. The space of a luxury property should be well-utilised and well-maintained, creating a sense of freedom and harmony.

5. Legalities:

luxury properties in Mumbai - Homesharp

Legalities are the final and most important factor to keep in mind while buying a luxury property in Mumbai. Ensure the property has a clear and valid title, with no disputes or encumbrances. Check for all necessary approvals and permissions from authorities, such as BMC, MMRDA, MHADA, and RERA. Also, ensure your property complies with all rules and regulations, such as FSI, TDR, CRZ, and GST. The legitimacy of the property should be transparent and hassle-free, ensuring a smooth and secure transaction.

If you are looking to buy luxury property in Mumbai, then you must keep the above points in mind. In the quest to find a luxury property in Mumbai, HomeSharp comes to your rescue. HomeSharp takes care of every detail in your home-buying journey in Mumbai. They provide exclusive concierge services and legal advice and have tie-ups with top developers for a seamless home-buying journey. Indeed, Homesharp is the one-stop solution that will guide you through all the steps.