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.
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