Mumbai is the largest real estate market in the country. The Mumbai property market is expanding at an unprecedented pace. There is a rise in demand for residential property in the metropolis buoyed by major infrastructure development. Currently, there are 9 metro line projects under construction. These metros will increase connectivity allowing easier commutes for working professionals. The development is poised to increase construction activity across all the localities in the city.
Several micro-markets are already emerging in anticipation of the new metro lines to be operational. There is a greater focus on developing luxury projects that offer superior amenities as the financial power of buyers is increasing. All these factors make Mumbai one of the most lucrative property markets to invest in. The megapolis is seeing major construction activity across all suburbs and pockets.
Some of the most popular residential areas are discussed below:
1. Kandivali
Kandivali is a northern suburb in the Mumbai Metropolitan Region (MMR). Once a sober suburb, there has been a surge in new projects in Kandivali in recent times. Although the suburb is well connected by road and rail to other parts of the city, two new metro lines that are under construction will enhance the ease of commute for its residents. The social infrastructure is also developing at a fast pace to keep up with the ever-growing influx of home buyers. Due to these reasons, flats in Kandivali can be the best investment option. Most reputed developers are now constructing projects in Kandivali West compared to budget flats which was the norm a few years ago. The Gauri excellency reviews are one of the best in Kandivali.
2. Sewri
Sewri is a locality in the southern part of Mumbai and is known as a luxury locality. The proximity of Sewri to important hubs in south Mumbai makes it an ideal residential location for luxury home buyers. The locality is well connected to all the major regions of Mumbai by road and rail. It boasts of high-end social infrastructure and facilities making it one of the prime options when it comes to 2 BHK flats in Sewri. The average rate for residential properties is around Rs 38000 per sq.ft.
3. Thane
Known as the satellite city of Mumbai, Thane is one of the prime locations that has seen immense real-estate development over the past decade. The city offers one of the best lifestyles that combines the hustle and bustle of the metro with a green and peaceful environment. With excellent facilities for living a comfortable life to fast developing connectivity and infrastructure, Thane offers a wholesome living experience.
4. Navi Mumbai
Panvel and Kharghar are two locations that promise good returns on property investments. The accessibility of Panvel to the upcoming international airport, infrastructure development projects, and low property prices make it a strong contender for investments. Kharghar is known for its lush green parks, wide roads, and well-planned infrastructure. For long-term investments, Kharghar is a good option as the property prices are comparatively low compared to locations in central Mumbai.
Original article published at https://www.ezeebiz.in/understanding-mumbai-real-estate/