Top 10 Options for Real Estate Investment in Mumbai
By admin March 21, 2023
The residential real estate market in Mumbai and the Mumbai Metropolitan Region ﴾MMR﴿ has shown strong demand in the past year or so According to recent surveys, as many as 20,000‐plus new residential units were launched across the region in the second quarter of 2022 The overall demand for residential units had seen an upswing for the second straight quarter of FY 22 This clearly indicates that the real estate market in Mumbai is going to see an overall rise in demand‐&‐supply of household & commercial properties This is bound to accelerate the overall trade game of the real estate market So, let’s figure out early which are the best areas to invest in and catch the early bird price to reap the most profit from these investments.
ANDHERI:
Andheri is one of the most developed and highly sought‐after localities of Mumbai, thanks to its excellent connectivity all around the city. It boasts well‐developed transportation infrastructure, like metros, local buses, and motorways. It also contains many upcoming initiatives from municipal governments.
Its railway station is one of the busiest railway stations in the entire country. Both its west and east areas are in great demand not only for its residential properties but also commercial spaces, as a vast number of reputed corporates have their offices in Andheri.
As a well‐developed area in Mumbai, it is a fantastic investment prospect. It is a preferred location for many multinational corporations. This provides ample employment opportunities. In comparison to many other places in Mumbai, the quality of living here is superior. It contains everything a great locality should have, from world‐class hospitals to malls, educational institutions, entertainment and recreation centers to sports facilities.
Property rates in Andheri East as of Oct 2022 are an average of Rs. 18,630 per sq. ft, while that for the west is an average of Rs. 23,681 per sq. ft.
JUHU
Juhu is one of the most affluent localities of Mumbai, in which a lot of successful film personalities and businessmen live, making it a very expensive area to live in. It is located close to domestic and international airports. Juhu Beach overlooks the Arabian Sea and offers lavish apartments and high‐end bungalows to those with huge budgets to invest in Mumbai. There are many international schools, hospitals, high‐end restaurants, and malls in the vicinity.
The average Sale price of Juhu is about Rs.39,000/‐psf.
GOREGAON
Goregaon, located between the neighborhoods of Andheri and Malad, is a western suburb of Mumbai It is one of the most thriving business hubs of Mumbai Goregaon West is home to several commercial and residential complexes as it offers excellent connectivity by metro, railway, and interconnected roadways. The locality offers all the modern‐day conveniences. It is also in close proximity to the airport.
The average sale price of an apartment as of October 2022, in Goregaon East, is Rs. 17,441psf, while in Goregaon West is Rs. 18,602 psf.
Although the rates in the locality are slightly higher than in other areas, it is an excellent
Although the rates in the locality are slightly higher than in other areas, it is an excellent choice for real estate investment in Mumbai.
MIRA ROAD
In the past few years, Mira Road has emerged as one of the top upcoming investment destinations available in Mumbai It connects easily by road as well as the newly launched metro rail through the Western Express Highway, and to the business hubs of Andheri, Goregaon, Malad East, and West through the New Link Road and the metro rail as well It is also well connected to Thane, Bhiwandi, Kalyan, and the other Central suburbs via the Ghodbunder Road. The area has progressed in every way and offers incredible infrastructure, seamless connectivity with other areas, and many residential complexes.
The average sale price of residential properties in Mira Road is Rs9,000/‐
THANE
With the growth in the population of Mumbai, people actively started looking for investment options just outside the city And Thane provided the most lucrative option and soon became a very popular real estate destination It is well‐connected to different cities like Kalyan, Bhiwandi, and Navi Mumbai as it offers a well‐knit network of internal roads, highways, local train lines, and metro stations It is easily accessible to both the western and central suburbs by road and will be with the upcoming metro network in the next couple of years Thane is a beautiful amalgamation of modern infrastructure and scenic beauty. The area is home to a myriad of multinational corporation offices, malls, and other business syndicates.
The average Sale price of Thane is around Rs12,000 psf
MULUND
Mulund is one of the most cosmopolitan suburbs of Mumbai It has the ideal mix of residential and commercial property developments It offers enhanced living with world‐class amenities that cater to those who want to lead their life in a grand manner High‐rise towers, gated communities & townships are being constructed in Mulund that will change the way real estate is perceived According to the Property Index, the real estate properties in Mulund have gained over 40% appreciation in the past two years With infrastructure projects like Metro & MonoRail developments flourishing in the area, property prices in Mulund are bound to shoot up. The proposed Goregaon‐Mulund Link Road will be a game changer & will give a massive infrastructure & connectivity boost to Mulund. Though this project is yet to see its first phase of development, once completed, it will definitely lure higher
to see its first phase of development, once completed, it will definitely lure higher appreciation rates in the future on your invested property﴾s﴿.
