Why Purchasing a 1 BHK Flat is the Best Financial and Sensible Decisions

November 15, 2020
Why purchasing a 1 BHK flat is the best financial and sensible decisions

Finding the right-sized flat can be quite challenging, especially in a city such as Mumbai where real estate is considered to be one of the most precious and sought after commodities in the market. When looking for an ideally sized flat, one needs to take into consideration several factors that will help buyers make the most informed decision.

Finding the ideal flat:

If you are looking for a flat that you are purchasing from an investment perspective and want the flat to provide you with an additional source of income, then looking for a 1 BHK flat for Sale in Vile Parle East is your best bet, as not only is it one of the most sought after properties from an investment perspective, but is also the most preferred flat for tenants, which makes it all the easier to be able to rent your place as well. As a 1 BHK flat is the preferred flat for tenants, you can be assured that finding a tenant for your flat will be relatively easy.

Tax rebates:

Another added benefit is the fact that Mumbai’s civic body recently provided flat owners with tax benefits where flats that were less than a certain area were exempted from paying property taxes, which in turn has resulted in far lower outgoings and maintenance bills that members need to pay to the society every month. Not only that, but since the stamp duty collected by the Govt is calculated on the basis of the square feet of the flat, it has resulted in far lower stamp duty and registration amounts that the buyer is required to pay, which comes as an added bonus.

Easier to maintain:

As a 1 BHK is easier to maintain, redecorating or renovating it is relatively easy, which is why it makes it a lot more affordable to renovate and customize it based on your needs. As people are looking for far more affordable property deals in the city, a 1bhk flat is far more appealing to them, which makes it all the more important to find a property that is just in accordance with your preferences.

At Vijayraj Residency, we believe that investing in a home is a financial and emotional decision, and keeping the same in mind, we ensure that our investors are updated with the latest happenings on our project site. So if you are on the lookout to purchase a home and would like a few of your questions answered, then feel free to get in touch with us and we would be more than happy to assist you with the same.