Finding a home is no easy task in Mumbai. Therefore, how does it really pan out for expats who come here to live and work? We find out
An expatriate who wants to live in Mumbai, normally finds it very difficult to get a home of hisher choice.
The lifestyle and requirements of an expat are di verse from that of an Indian. Extreme pollution, heavy traffic, connectivity issues, language barriers, cultural prejudices are key concerns. “With rapid development comes contradiction and conflicts. First among these is a chronic housing crisis that has created one of the most expensive property markets in the world. Even well-paid expats often have difficulty finding suitable accommodation in Mumbai. Expats will find traffic congestion in Mumbai to be quite intense and using public transport in the city an adventure. Luckily, in the last few years, there has been a rise in affordable housing ventures near the city that are providing premium living options.Expats can find such options to be reasonably priced, away from the city's travelling hardships and with township facilities of schools, sports amenities, banks, ATMs and healthcare centres,“ says Prabhat Ranjan, CMD, Olympeo Infrastructure Pvt. Ltd.
LOCATIONS IN MUMBAI THAT FIT BEST
Expats have multiple criteria in mind while choosing a location for their housing. Some of the issues they consider are connectivity to CBDs, social infrastructure like hotels, malls, schools or colleges, restaurants, etc, near to their vicinity. “Earlier, south Mumbai was the hub of the expat community, but the trend is fast changing. The city is now moving towards the centre and north of the city with most of the premium and high-end projects coming up there. Emerging areas such as Parel and Wadala, throw open a plethora of luxury living options that expats can consider as locations to stay,“ suggests Deepak Goradia, vicechairman and managing director, Dosti Realty Ltd.
Experts inform that most expats live in south Mumbai areas of Breach Candy, Malabar Hill, Kemps Corner; and suburban areas of Worli, Lower Parel, Bandra west and Khar west. The inclination towards the suburbs began post the mushrooming of social infrastructure options, especially international schools. Despite their high prices, Andheri, Powai and other areas like Thane, Kalyan, Neral on the city's outskirts continue to be new residential hubs. A S Sivaramakrishnan, head, residential services, CBRE South Asia Pvt. Ltd, suggests, the following locations as best fits for an expat in Mumbai: SOUTH MUMBAI: (Cuffe Parade, Peddar Road, Altamount Road, Breach Candy, Napean Sea Road, Malabar Hill, Tardeo) Downtown Mumbai and home to many consulates, these regions have the most exclusive and premium residences.Close to the Central Business District (Nariman point) and the commercial areas of Lower Parel Elphinstone Road, the location is also well-connected internally by road and rail.
CENTRAL MUMBAI: (Lower Parel, Worli, Prabhadevi, Mahalaxmi) Close proximity to commercial areas of Lower Parel Elphinstone Road and easy commute to the emerging business district of BKC via the new Ban dra-Worli Sea Link, make this belt attractive.
BANDRA KHAR WEST: It's centrally located with close proximity to the business districts of BKC and Lower Parel (via the Bandra-Worli Sea Link). Commute to the airports is easy and quick through the Western Express Highway. The locality supports a good night-life culture and has a developed retail scenario as well. Some areas can offer apartments with a beautiful sea view.
JUHU: Well-known amongst the expats in Mumbai, this locality allows access to the best beaches of Mumbai. Expats can find a lot of sea facing apartments and some independent bungalows by the coast in this locality.
POINTS TO REMEMBER
Apart from mandatory paperwork and appropriate visas, an expatriate needs to undergo the registration process required under the Indian Immigration regulations. The visa renewal and the Foreigners' Regional Registration Office (FRRO) registration are challenges. The rules change, on an average, every six months. So, one should always keep a tab on such developments.
IMPORTANT FACTORS AN EXPAT SHOULD CONSIDER WHILE BUYING A PROPERTY:
Budget; Proximity to the workplace and life-support services like healthcare, education and retail; Rules governing the purchase of property by expats in India; Consultation with professional agents.
No comments:
Post a Comment