Jammu and Kashmir, and Mumbai are very different kinds of locations, yet both attract a large number of home users. You may be thinking about buying a house for sale in Jammu and Kashmir or a flat for sale in Mumbai.
Mumbai is a cosmopolitan city where you can access nearly every amenity you can think of. On the other hand, Jammu and Kashmir have only recently opened up to Indian homebuyers. There are picturesque locations across Jammu and Kashmir, but many locations aren’t as developed. The good news is that the government is shelling out various developmental programs, aiming to boost the region’s infrastructure.
When buying a house for sale in Jammu and Kashmir, what you should consider when purchasing a flat for sale in Mumbai is different from what you should think. Let’s look at each of them individually.
What Should You Know About Buying House For Sale in Jammu and Kashmir?
You can buy a house for sale in Jammu and Kashmir now. This is as Jammu and Kashmir have become a Union Territory. This has resulted in changes in land laws, as a result of which Indian citizens can now purchase urban or land that is non-agricultural in Jammu and Kashmir.
You can buy farmland as well, but for that, you’ll need to take special permission from the government. However, there are no such limits when it comes to land for residential or commercial properties.
With its beautiful locations and picturesque scenery, Kashmir is fast emerging as a preferred location for many people when it comes to second homes. People who want to own a property in Jammu and Kashmir cab find both affordable and luxury housing options. If you’re looking for a house for sale in Jammu and Kashmir, then there are several factors that you should take into consideration. These include:
The Location
You can enjoy breathtaking views at many places in Kashmir. However, scenic beauty isn’t the main factor you should consider when considering a house for sale in Jammu and Kashmir. Jammu is a location that is well connected to the country through road, rail, and air services. On the other hand, Kashmir is mainly well connected through the streets, and rail and air connectivity there is limited.
The Property
The legal framework that makes it possible for Indians to buy property in Jammu and Kashmir is still new and will take time to develop. If you want to buy land here, you’ll need to do research to find out whether there are any claims that are outstanding, or litigation in process, over that land. The government is developing a new industrial policy and is also aiming to develop Jammu and Kashmir.
The house for sale in Jammu and Kashmir that you buy should also meet your requirements. This includes being a safe location for you and your family.
The Prices
In many parts of Jammu and Kashmir, you can buy property at affordable rates. In Srinagar, you can buy a property between Rs. 2200 per square feet to Rs. 4000 per square feet. In Jammu, expect to pay between Rs. 2400 per square feet to Rs. 4000 per square feet. If you want to buy property in Baramulla, expect to pay between Rs. 2500 per square feet to Rs. 3200 per square feet.
What Should You Know About Buying a Flat for Sale in Mumbai?
Mumbai is considered by many a dream location to live in. However, the real estate market in Mumbai is also known as one of the most expensive in the world. Despite this, there are an abundant number of properties that you can purchase in this city.
What should you take into consideration when choosing a flat for sale in Mumbai?
The Budget
Your search for a new flat will largely be defined by your budget. You can find affordable housing options in the city, as well as luxury housing options. Keep in mind that, on average, the cost of a flat for sale in Mumbai is greater than in many other cities.
The Locality
The flat for sale in Mumbai that you choose should be near amenities such as markets, schools, and hospitals. Consider also looking at what the price trend of the locality is historical. You can opt for flats for sale in Mumbai in locations such as Panvel, Thane, July, Bandra, and other areas.
The Broker
The broker you choose should be someone who has helped clients find their ideal property before. Opting for a broker with a good reputation can ensure that they provide you with all the help you need.
RERA Certification
RERA stands for Real Estate Regulation and Development Act, which was passed in 2016. This certification is a way for prospective homebuyers to protect their interests. Do your research to find out whether the flat for sale in Mumbai you’re considering is RERA certified or not.
Conclusion
Buying a house for sale in Jammu and Kashmir or a flat for sale in Mumbai can both be expensive investments. This is why you need to ensure that you make an informed choice when choosing your property. Use this guide to learn more about buying property in Jammu and Kashmir, as well as Mumbai.
