Property in Mumbai real estate market is undoubtedly one of the most lucrative markets in India for investors. Regardless you’re looking for fruitful investment opportunities or just want to buy a home, the options that you can find in the financial capital of India when it comes to residential properties for sale in Mumbai are limitless.
Ever since September 2020, the real estate market of Mumbai has been witnessing a positive growth. Because of the different initiatives taken by the Indian government, the property market has become quite profitable. According to the recent Knight Frank report, the property sales in the residential sector of Mumbai during October 2020 has been the highest in the last eight years. These increasing numbers are clearly an indication that now is the perfect time to invest in Mumbai real estate.
Having said this, let’s take a look at some of the best areas in Mumbai for investment that are bound to witness robust demand.
Present between Borivali and Andheri, Goregaon East is an ideal location for anyone looking to buy an affordable house within Mumbai. Currently, the per square feet price here is Rs. 17,800. The best part of this area is the trouble-free connectivity it enjoys with the rest of the city. Roads such as Jogeshwari–Vikhroli Link Road (JVLR) and Western Express Highway make it very approachable and even the Chhatrapati Shivaji Maharaj International Airport is in close vicinity. Moreover, the presence of well-reputed commercial firms such as Aegon, IBM & Abbott within its proximity Property in Mumbai also adds to the increase in its demand.
Another great area for buying property at the moment is the Eastern part of Kandivali. It is one of the oldest and poshest areas located in northwest Property in Mumbai. This area has always been a favorite among first-time homebuyers because of its pocket-friendly prices. You can easily buy land here at the rate of Rs. 16,530 per square foot. Moreover, over the past year, Kandivali has seen a price appreciation of 3%, which means that if you buy a property here you can expect to get good returns.
Because of its ease of approach i.e., via the Link Road and Western Express Highway along with the western railway line, Kandivali East is quite accessible. Moreover, with the construction of several gated societies, many top-notch schools, hospitals and shopping malls are also under construction here. You can find here highly rated educational institutes such as Ryan International School and Gundecha Education Academy along with hospitals such as Kokilaben Dhirubhai Ambani Hospital and Apex hospital add another feather to its cap.
Additionally, the nearness of employment hubs such as SEEPZ, Maharaja Retreat Tower, The Infinity Tower and Spectrum Tower makes it ideal for job seekers.
All these features combine make Kandivali East an ideal residential area, particularly for first time home buyers.
If you’re looking for budgeted residentialProperty in Mumbai that are in close proximity to major commercial hubs, Andheri East is perfect for you. The presence of BKC, MIDC and SEEPZ in its adjacent, Andheri East serves as a major housing hub for the white-collar. You can easily buy apartments here for as much as Rs. 18,900 per square feet.
Additionally, Andheri East also enjoys exceptional connectivity with the rest of the city through Western Express Highways as well as the local train network. Likewise, JVLR & National Highway 8 are also close by further enhancing its connectivity.
Due to close adjacency with commercial hubs like BKC and Andheri, Malad West has been emerging as a popular residential hub. This area is highly suitable for the middle to upper-middle class because of its super economical property rates. Homebuyers can conveniently Property in Mumbai buy an apartment for as low as Rs. 17,000 per sq. ft.
Moreover, West Malad also has ease of accessibility as you can easily approach it via Western Express Highway as well as through local train networks. Also, the Dahisar-Mandale metro line 2B that is going to start working in May 2021 will further enhance its connectivity.
Vasai & Virar
Two more areas in Mumbai that are perfect for anyone who wants to buy flats for sale in Mumbai but at a really cheap price are Vasai & Virar. Situated beyond the Mira Bhayandar area, these two localities are considered the poster boys of affordable Property in Mumbai housing in a city like Mumbai. Anyone can buy property here as the rates are pretty economical. You can effortlessly find land here for as low as Rs. 5,100 to Rs. 5,400 per sq. ft which isn’t possible anywhere else within the MMR.
These are some of the most promising residential areas in Mumbai for investment Property in Mumbai. So, if you’re looking for a place to buy property for investment, you can consider one of them.