Delhi vs Mumbai – this has been a topic of a never-ending debate for ages. While some favour the capital city to be the best place in the country, others feel Mumbai offers better living standards to its inhabitants. When it comes to property investment, Delhi and Mumbai are two of the most eminent locations that catch every investor’s attention. Both cities provide rich lifestyles and superior social infrastructure. Living in these cities is like a dream for anyone looking for a quality lifestyle and luxury. But which one is better between these two?
In this blog, we will compare both cities on several different measures and present a brief analysis so that you can make an informed decision.
1. Property rates
Firstly, we will discuss the property prices in Delhi.
Delhi, the capital city of India, is considered to be one of the most preferred locations when it comes to real estate investment. According to the reports, the average property price in Delhi is Rs 8,742 per square feet, as of June 2022. However, these rates saw a major surge in the past few months. The development of luxury residential projects and the abundance of choices available to individuals are the primary factors driving the growth of housing demand in Delhi.
Moving on, let’s talk about the property prices in Mumbai
Mumbai is widely known as the financial capital of India. There is always a need for newer and better residential and commercial real estate in this city. Millions of youngsters relocate to Mumbai every year in search of better jobs, education, and other opportunities.
According to reports, the average property rate in Mumbai is Rs 17,998 per square feet, as of June 2022. Residential property prices have seen a huge increase in Mumbai over the past few years, especially after the second COVID-induced lockdown. The main reason behind this surge is the continuously increasing demand for accommodations in Mumbai.
2. Infrastructure: Delhi vs Mumbai
Home to 22 million inhabitants, Delhi has completely transformed into a world-class city with its excellent infrastructure development over the past few years. Some of the most prominent projects that have revolutionized the infrastructure of the city are Barapullah Elevated Corridor Project (Phase III), Dwarka Expressway, and the development of the Delhi-Meerut Expressway.
As far as Mumbai is concerned, the city is currently experiencing an infrastructure boom. Mumbai has always had an excellent infrastructure. However, they are continuously improving their infrastructural facilities to provide a better living standard to the Mumbaikars. The city is constructing a Mumbai Metropolitan Region since they have connectivity to the micro-markets of Thane, Navi Mumbai, and Palava. Some of the prominent projects that are taking its infrastructure to the next level are Delhi Mumbai Industrial Corridor, Mumbai Ahmedabad High-Speed Rail, and Mumbai Ahmedabad Bullet Train Corridor.
3. Connectivity
If you talk about the connectivity factor in Delhi, the city is expected to be one of the cities with the fewest red lights in the future. The infrastructure in Delhi has been redesigned to significantly reduce traffic congestion. Moreover, Delhi’s transportation system includes metros, airports, railways, and roadways. Delhi Metro is known as the city’s lifeline as it has made the day-to-day travel of Delhiites less cumbersome.
On the other hand, in Mumbai, the upcoming Navi Mumbai International Airport will significantly improve the connectivity in the city.
4. Return On Investment: Delhi vs Mumbai
Real estate investors have long been drawn to the lucrative return opportunities available in Delhi. With hundreds of thousands of fully-occupied real estate projects in almost every corner of the city, Delhi’s surrounding region, including Noida, Faridabad, Gurgaon, and Ghaziabad, is quickly becoming a hotspot for property buyers and investors looking for real estate locations to invest in Delhi.
If you are an investor, expecting better Returns on Investment (ROI) from properties in Delhi, then Neb Sarai, Dwarka Mor, Chattarpur, Uttam Nagar, and Tilak Nagar are some of the areas you may consider.
Meanwhile, the real estate prices in Mumbai are never out of the news. From South Mumbai’s spectacularly expensive properties to the chronically unaffordable price tags of what passes for mid-income and affordable housing in the city, Mumbai has always remained a high-end location for real estate investors. Considering the layout, location, and demand, real estate in Mumbai will offer a great return on investment (ROI) to investors.
Conclusion
Delhi and Mumbai, both are good places to invest in real estate because you can get a great ROI on your investment. However, the cost of living in Mumbai is more as compared to the capital city because accommodation, transport, and other facilities are expensive here.