An Affordable Living and Investing Option for Young Professionals

The millennials arrived at the scene of independent living or settling down in this past decade. This resulted in a significant change in the real estate landscape of Mumbai. The generation that was at the focal point of transition to the digital world, has to adapt to what has transpired in housing so far.

The living space is no longer defined by just families. There was a huge shift in the working and social structure of India since the late 1990s as the IT sector took over the industrial component of India. Such employment structure led to professionals exploring various housing arrangements such as live-in, multiple roommates, PGs, co-opting, bachelor pads, and many more.

While these arrangements brought a new wave of housing, the real estate market still couldn’t establish a stable base in Mumbai due to this increasing demand. And to add to the problem, the shortage of space posed another threat to the flickering price trend. To solve the housing crisis, MMRDA issued proposals to develop the nearing suburbs to accommodate a large margin of mid-income groups.

Two objectives accomplished were: first, these accommodations were an alternative to the city life for peaceful living, with convenient accessibility to the rest of the city.

The second pillar was providing economic resolutions for the inflated prices in Mumbai city. The housing prices in these suburbs are significantly lower than the plush areas, on a considerable carpet area.

One such suburb that has been developed with real estate as the primary focus is Badlapur. Affordable housing is the USP of this city.

Features of Badlapur Real Estate

Badlapur is the green haven amidst the concrete landscape of Mumbai.

-          The connectivity of Badlapur to the rest of the city via the Mumbai Suburban Railway Network is the key factor for the property in Badlapur.

-          An extrinsic factor is the tranquility one experiences in the quiet and fresh atmosphere.

-          To facilitate convenient living for the growing population, quality fundamental services like schools, hospitals, and shopping centres are incorporated in the vicinity.

-          Several proposed plans for the extension of Metro lines and road connections to Badlapur have further enhanced demands for flats in Badlapur.

-          Badlapur is also a cost-effective investment as it has capped on the maximum prices of 1 BHK and 2 BHK flats in Badlapur. this suffices the need for permanent residences but within budget.

-          Another aspect of this market is the speculative future of Badlapur. Investors are betting on the upgrades in the upcoming years, that would enhance the value of property in Badlapur.

Affordable Segment in Badlapur

As stated earlier, millennials had a hard time venturing into real estate investment due to the lack of a feasible price structure.

~As a first home buyer, the 1 BHK flats in Badlapur East are conducive options not only as an investment but also on the spacious rooms that come with the price.

~Moreover, the hybrid work model has awarded the freedom to choose a space according to one’s preference. People who are employed in the Thane-Kalyan-Ulhasnagar areas prefer to stay in Badlapur on sharing basis. For such arrangements, the expense per person for 2 BHK flats in Badlapur East comes down to the cost of less than a 1 BHK flat in Badlapur.

~From strictly investment POV:  the average price in Badlapur was Rs.3,987 per sq. ft for Oct-Dec’ 2021– which is less than 1/3rd of the northern suburbs like Dahisar. This implies how cost-efficient your investment can be in long term, given that the overall trend for flats in Badlapur is on a gradual uptick. Buy 1 BHK flats in Badlapur East at reasonable rates to sell at higher prices in the next 10-15 years for the best ROI.

~National Real Estate Development Council or NAREDCO has launched Ambernath-Badlapur Unit in 2021. This has helped in constructing over 10000 affordable housing units undertaken by 100+ members. All these projects are registered under MahaRERA, which ensures quality essential supplies in even a 1 BHK flat in Badlapur.

How is the Union budget’2022 helping new homebuyers?

When you invest in any asset, a long-term capital gain (LTCG) tax of 10% is levied with an additional surcharge. This surcharge varies for equities and shares from 10-15%, but on the housing property, this surcharge tax peaked up to 37% in 2021.

In this budget, the Finance Minister has made a modification on a surcharge for all assets, capping it at 15%.

Simply put, you have to pay only an additional 15% on LTCG surplus when you own a property.

This expense is quite smaller when corresponding to the affordable 1 BHK flats in Badlapur East.

A project that has redefined Badlapur Estate

Aryan One is a flagship project in Badlapur that offers 1 BHK, 2 BHK, and 2.5 BHK Flats & Apartments in Badlapur East.

So what is the allure of this project?

Well, imagine waking up to a green panoramic view from your apartment that is ventilated by the high AQI fresh air. That’s exactly what you get from these 1 BHK luxury flats in Badlapur, starting just at INR 28 lacs.

With this package, you get a plethora of quality amenities like a swimming pool, gym, and a ready clubhouse that includes meditation, games, yoga, music rooms. There are open spaces to relish with a Sky Garden and coffee lounge, and the luscious greenery simply adds to the luxurious living experience– a perfect deal for young professionals.

Read More - 5 Factors That Have Enhanced the Significance of Badlapur