Residential Real Estate Investment in Borivali

Borivali, or Borivli, is a suburb at the north-western end of Mumbai, Maharashtra, with a mostly Gujarati population. It is an important station for local trains connecting Churchgate in the North and Virar in the South. Transportation in the forms of buses, auto-rickshaws, taxis, etc., is also easily available in this area.

Moreover, it has several well-known schools serving high-quality education to students from this place and other areas as well. With constant infrastructural development, the demand for residential real estate in this area is increasing. 

Let us know everything about investing in Borivali’s residential properties.

Top Reasons to Invest in Residential Real Estate in Borivali 

The top reasons to invest in the residential real estate of Borivali, Maharashtra are as follows:

1. Well-Developed Connectivity

Borivali provides great connectivity to many important places around Maharashtra through roads and highways like Western Express Highway, New Link Road, etc. The Mumbai metro line 2 and 7 also passes over this area. Moreover, it is an important station of Mumbai’s Western Railway section connecting Churchgate to Virar. 

2. Availability of Basic Amenities

This place in Maharashtra provides all basic amenities such as 24×7 electricity, clean water, etc., needed to live a residential life. Moreover, it also has some well-known hospitals, schools, colleges, supermarkets, parks, etc., close to the residential areas for easy accessibility by people living here. 

Residential Real Estate Investment Opportunities in Borivali 

The locations having the best opportunities for residential real estate investment in Borivali, Maharashtra are as follows:

1. Shivaji Nagar

One of the most famous areas to stay in Borivali is Shivaji Nagar, which has access to all basic amenities and offers great transport facilities to its residents. It is near many important commercial locations in Mumbai, Kandivali, Dahisar, etc., making it easier for residents to get access to important zones of business. 

2. Yogi Nagar

Yogi Nagar is another well-developed area to live in Borivali which has great connectivity to important places through SV Road, Link Road and Western Express Highway. Additionally, residential property prices are comparatively cheaper here than in many other places around Borivali. 

Things to Consider Before Buying a Residential Property in Borivali

The primary things to consider before purchasing a residential real estate property in Borivali, Maharashtra are as follows:

• Proper Market Research

Purchasing a residential property involves enormous risk and thus needs a substantial amount of market research and knowledge. Additionally, consider the paperwork important and have a proper discussion about it with your broker if you avail such services. 

• RERA Verification

Notified by the RERA Act 2016, Real Estate Regulatory Authority (RERA) is a statutory body that promotes transparent and authentic real estate transactions between agents and buyers. Each state has its own RERA body. To check the authenticity of a builder and their property in Borivali, you can visit the RERA website of Maharashtra.

Stamp Duty Rates in Borivali, Maharashtra

The stamp duty rates for real estate property in Borivali, Maharashtra are as follows:

Note: A local body tax (LBT) of 1% is added to the stamp duty, as shown in the first case. A buyer must pay this while purchasing any real estate property in Borivali, Maharashtra. A rebate has been announced for women by the state government to encourage the participation of women in commercial real estate. 

Registration Charges in Borivali, Maharashtra 

The registration charges for real estate property in Borivali, Maharashtra is as follows:

It is very important to consider the rates of stamp duty and registration as they will be a part of your investment amount. 

Borivali Residential Real Estate Sector: What’s the Forecast?

The overall real estate market in Maharashtra has experienced a potential rise of 42% in sales both in residential and commercial spaces. The total turnover on real estate sales in FY 2022 was estimated at almost ₹8,900 crores. 

Borivali East is becoming a sought-after working and residential area of Mumbai with high-profile projects like Paradigm Group’s Ariana, CCI Projects’ Rivali Park Winter Green, Hirani Developers’ Ruby Apartment and Oberoi Realty’s Sky City. 

Most importantly, government initiatives such as reducing property approval charges by 50% and easing of redevelopment policies in slum coastal norms have resulted in a surge in demand for residential properties in Borivali. 

Residential Real Estate vs Other Asset Classes

The comparison between residential real estate and other asset classes has been discussed below: 

• Residential Real Estate vs Stocks & Mutual Funds

In the case of residential real estate, it offers assured returns with direct asset ownership of the property. Moreover, stock and mutual funds witness great fluctuation in terms of returns as it depends on market sentiments. 

• Residential Real Estate vs Gold

Real estate is considered a stable investment option that offers additional tax benefits. Moreover, residential properties also help to generate passive rental income, which is not the case with gold. Returns generated from gold investments fluctuate based on macroeconomic factors. 

• Residential Real Estate vs Commercial Real Estate

Residential properties need to be leased on an annual basis, but commercial spaces can be leased for longer tenures. However, the entire documentation and registration process for residential properties is easier and quicker than that of commercial real estate. 

• Residential Real Estate vs Bonds

Residential real estate investments are less liquid when compared to bonds due to their higher transaction costs and the long time it takes to find a suitable buyer for the property. In addition, bonds have a low credit risk than commercial real estate properties.

A tabular representation to compare the asset classes on the basis of risk, volatility, returns, liquidity, and ticket price is as follows:

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Steps to Invest in Residential Real Estate in Borivali

The steps to invest in residential real estate in Borivali, Maharashtra are as follows:

Step 1: Do proper market research and estimate your investment budget.

Step 2: Once you shortlist a few sites as per your requirements, plan a field visit to each one of them to assess them in terms of infrastructure and amenities. 

Step 3: Once you finalise a property, prepare the necessary documents for purchase such as sale agreement, title deed, building plan, etc. 

Step 4: Complete the payment process. Make sure to pay the required stamp duty and registration charges. 

Step 5: Lastly, consider purchasing an insurance plan for your property to safeguard yourself financially in case your property incurs any damage. 

Final Word

The outlook of Borivali for residential real estate is good due to its developing infrastructure and great connectivity facilities. It has many famous schools, hospitals, marketplaces, etc., in its locality and is near commercial hubs as well. However, before buying a residential property, make sure to undergo proper market research to avoid fraudulent activities. 

Frequently Asked Questions