Even for the most experienced travellers and long time expatriates, to find a proper home or office space in Mumbai can be quite a challenge. Like all major cities, the informations given online offers everything and anything. You can take our word for it, we provide a one of a kind service, with a western management approach, we will take the time it takes for you to understand the market, so that you can make the best decision possible for yourself, your family, and your company. Please go through the following Q&As.
Will we be able to see all available properties through one agency or do we have to check the market with several agencies?
In Mumbai, one agency has access to all properties. However different agencies have different ways of working, and different fees too. We recommand clarifying the fees with the agency you are interested in, prior starting the visits. Also it is a good idea to keep record of the properties you have visited, so that in case you check the market with another agency too, they won't show you the same listings. As once you have seen a particular property with a particular agent, you will have to do the transaction for this property, through that same agent. Hence you want to make sure you choose the agency with more experience, and better reputation, from the start.
Why is real estate in Mumbai so expensive?
After seeing few properties, you will quickly realise that an apartment or an office in Mumbai, costs just as much as in other super cities such as New York, Paris, London, Hong Kong. Why? Simply because Mumbai is the economic capital of India. Mumbai's real estate sector isbooming and is highly competitive as there is a huge demand for quality real estate. It is possible to find more affordable options, but it will be in the outskirts, a long traffic jam away from the happening suburbs. Mumbai is not an easy city to expatriate oneself and one's family, it is highly recommended, at least for the 1st 2-3 years, to live in the 'expat-friendly' suburbs.
One should also keep in mind that most of the time the rent prices are negotiable, subject to lock in period (minimum guaranteed period of stay), security deposit (3 to 6 months is standard), yearly escalation, advance payment, etc.
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