Best Places To Buy Home In Mumbai

Mumbai, the commercial capital of the country is always been a choice for residential properties in India. It is a home for the emerging IT/ITES companies that have led to a thriving demand for properties. Although, the prices are skyrocketing, the city is still continuously on demand as it offers home for every class of society to invest in Mumbai real estate. Recently, the focus is on affordable housing in suburban and peripheral area like Airoli, Belapur and Sanpada, which are boosted by the infrastructural developments. Lot of new projects is coming in Navi Mumbai as the prices are quite affordable when compared to Mumbai.

Let’s look at some of the best localities where one can invest in a home:

Thane: Thane, also known as the lake city, is one of the major urban accumulations of the Mumbai Metropolitan Region (MMR) and is well connected to all parts of the country by rail and road. Thane takes pride in connecting itself to three main highways, precisely, Eastern Express Highway, NH -4 and NH- 3. This area is just 45 minutes ride from the Bandra Kurla Complex, 30 minutes from Powai and 50 minutes from the international airport respectively. The developed infrastructure in Thane makes it a smart investment option residential as well as commercial development. The sub-localities are also in demand like, Virar, Vasai Road East, Vasai Road West, Boisar, Kalyan east, Majiwada and Kalyan West and Bhiwandi.

Mira Road: Mira Road is one of the fastest growing suburbs of the city. Mira road property is one of the preferred destinations, as it provides easy connectivity to Mumbai city and budgeted homes for people from all walks of life. Hence, this place is a preferred destination for home buyers.

Khargar: This locality is grown to become one of the preferred residential locations for a buyer to invest. The reason is the proximity to the Navi Mumbai International Airport which is just 4 kilometers away from here. Kharghar is witnessing a lot of demand for residential property. A lot of prominent infrastructure developments are taking place around this locality. They are skywalk, Iskcon temple and proposed Golf Course.

New Panvel: In last few years, Panvel-New Panvel area has shown optimism in the real estate sector. The proposed infrastructural development, availability ofresidential property in Panvelto accommodate every pocket and lifestyle and the connectivity across the state has increased the potential of the properties in Panvel. Beside this, the New International airport and the increased frequency of trains connecting Panvel CST and Thane is one of the primary reasons for Panvel property emerging as a prominent destination forreal estate.

Ulwe: Ulwe is a preferred residential location for investors as well as end-users.Ulwe property is in demand as the prices are affordable when compared to Vashi. Surrounding areas like Kamothe is also providing good and affordable residential houses. The mid-income families are opting for Ulwe projects as one can find good infrastructure projects and excellent connectivity to anywhere in Mumbai. These projects are priced between Rs. 17 to 90 lakhs for a 1 BHK to 2BHK flat.

Navi Mumbai: Despite the growing demand and subsequent rise in property in Navi Mumbai, one can still find property in the reasonable range of Rs 30-40 lakhs.The sub-locality like Airoli, Belapur, Nerula and Taloja are in demand due to the affordability and connectivity reasons.

Powai: Powai is located near the Powai Lake, and the people who are looking out to buy residential accommodation in a green region with all the civic amenities, opt for Powai. Centrally located with connectivity and other basic facilities, the rental values in this locality are pushing up.

Chembur East: The recently opened Eastern Freeway has brought South Mumbai closer to Chembur, and also increased the demand for flats in Chembur area. The proposed elevated road between Chembur and BKC will reduce the travel distance from 1 hour to 15 minutes. The connectivity is the reason for demand here.

Goragaon East: This locality is generally preferred by middle-income group, but the accessibility to the western and eastern expressways and proximity to the localities like Andheri and Powai, has increased the demand from high-end consumers also. The existence of good schools, hospitals and entertainment options, has transformed it into a preferred locality.

Andheri West: Andheri west is described for its lavish lifestyle and elite habitants. The existence of MIDC and SEEPZ has prompt increased demand for real estate in this locality. East witnesses demand from the middle and upper class homebuyers when compared to Andheri West.