Bombay Real Estate ... 
  Should I rent or buy a property in Bombay?
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Bombay Real Estate Calculator

Finding a Home In Bombay
If you plan to rent or buy a property in Bombay, finding your property will be a major step in your relocation to Bombay. If you have not lived in Bombay, you should rent rather than buy your property in Bombay, at least for six months. If you would like to rent or buy a real-estate property in Bombay you may email us at webmaster@india-travel-guide.de with your real-estate questions.


It is the best way to know not only if Bombay is the place you want to live or retire for the next few years, but also if Bombay is suited for you.

Apartments & Houses in Bombay
If you are planning on living in Bombay, it is likely that you will be living in an apartment/condo versus a house.

Please make sure that modern equipments, such as electricity and water should function to the maximum. Please double-check and make sure electrical outlets are located in every room and functioning.

Make sure you turn on the water and make sure that hot and cold water is functioning and flush the toilet, turn on the shower. Don’t count on real-estate agents in Bombay to point out the negatives of a place they’re trying to rent or sell you.

Bombay Agencies
Real-estate agencies in Bombay advertise in local Bombay newspapers and as well on their office windows.

You should be able to notice a real estate agency in Bombay by the window full of ads for the different apartments or houses they have available for rent or sell in Bombay.

Before you begin working with an agency in Bombay, check that their fees are acceptable and that they are a member of the Bombay Real-estate Assocation. In most rental agreements in Bombay most agencies charge a month’s rent for a twelve-month rental agreement.

When selling a property in Bombay, real-estate agents in Bombay usually charge between 2.5% and 3% of the final sales price.
Monthly rent Bombay:€
Monthly Bombay rental insurance:€
Expected annual inflation rate in Bombay:  %
Purchase price of property in Bombay:€
Down payment amount:€
Length of Bombay mortgage term (years):#
Bombay Mortgage's annual interest rate:  %
Discount points on purchase of home in Bombay:  %
Origination fees:  %
Other loan costs in Bombay:€
Mortgage Insurance (PMI):  %
Bombay Homeowner's insurance rate:  %
Monthly association dues in Bombay:€
Average monthly maintenance of Bombay property:€
Bombay Annual property tax:€
Bombay plus government income tax rate:  %
Interest rate you expect to earn on savings in Bombay:  %
Expected percentage your Bombay home will appreciate by each year:  %
Number of years you will stay in Bombay:#
Bombay Realtor commission rate:  %
Total estimated cost of renting a property in Bombay:€
Total estimated cost of buying a property in Bombay:€
After coming to an agreement on a rental or purchase, both parties in Bombay sign the contract. However, it is not a legal agreement until the appropriate seals of the city of Bombay with a tax stamp has been purchased and affixed to ther agreement. You have to make sure before finalising the lease or purchase that the official seal of Bombay will be affixed to the agreement.

Renting
Real estate agencies in Bombay are the safest way if you want to rent or buy a property in Bombay. Please make sure they are a licensed agent in Bombay and very familiar with the Bombay property market.

Local newspapers in Bombay also advertise apartments and houses for rent, but word of mouth is the best way in Bombay. If you are currently an academic in Bombay, you could check local at local universities in Bombay, where apartments or rooms for rent are commonly posted.

In general rental rates in Bombay, increase by a small percentage each year in accordance with the government’s annual cost of living reports in Bombay. You can find yearly leases in Bombay, and more short-term housing is available near academic institutes or around tourism areas within Bombay.

Short-term tourist housing in Bombay is fully furnished and most of the time fully equipped. If you have the budget, you could rent a serviced apartment in Bombay.

If you want to buy a property in Bombay, I would highly suggest you to have the property checked out by yourself and hire a lawyer in Bombay to check how much debts the property has currently registered and if those numbers matched with the seller of the property in Bombay.

If you are buying a brand new property, you’ll need to pay property tax in Bombay. If your purchase is a luxury property, you may have to pay local taxes in Bombay and possible stamp duty.

Even as a non-resident homeowner in Bombay, you may become liable for all kind of taxes in Bombay, including income tax.

Bombay Mortgages
If you plan to take a mortgage in Bombay you need at least a 20% downpayment of the purchase price of the property in Bombay. Even if you generate rental-income from renting your Bombay property out, it is not considered by most lenders as you may decide to move in, at a later time.

The Bombay Real Estate calculator will help you to compare the costs of renting a house or condo in Bombay to the costs of buying a house or condo in Bombay. Since there are all kinds of forces at work behind the scenes such as the current interest in Bombay, Bombay property taxes, tax savings, appreciation in general to investments in Bombay, comparing the cost of renting to the cost of buying in Bombay is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment.

The Bombay Calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision before buying or renting a property in Bombay.

Help Buttons: For pop-up explanations of any of the entry fields, click the radio button next to the description.

NOTE: Be sure to enter "0" (zero) in any entry boxes that don't apply to you. Also be sure that only numbers and decimal points are entered into the fields.

Property Types in Bombay

  • Bombay Multi-Family
    Traditional, multi-family residential complexes located in Bombay and suburban markets of Bombay.


  • Bombay Mixed-Use
    Properties in Bombay that integrate and combine residential with different uses, including retail and office spaces.

  • Bombay Office
    Traditional office or office type properties in Bombay.


  • Bombay Retail
    Properties in Bombay with a mix of tenants that meet the convenience needs of neighborhood residents, including video stores, grocery, and financial services companies within Bombay.


  • Bombay Light Industrial
    Single- or multi-tenanted spaces in Bombay used for warehouse, manufacturing, distribution, or research and development in Bombay.

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