Property prices in Mumbai are among the costliest in the world for a reason, So In this Blog you will know about Top 8 location to invest in Mumbai.
Statistics suggest that Mumbai is the 3rd costliest city in the world based on per sq.ft price.
What is it about Mumbai that makes it one of the costliest cities in the world? Infrastructure, connectivity and the fact that it is a hotspot for economic development.
Mumbai hosts almost all of the major companies in the world.
New age couples are now looking for a location to invest in Mumbai.
While Mumbai is sizeable, there are several residential locations to invest in Mumbai, it is a living pockets city.
Did you just search – residential area invest Mumbai? Let’s walk you through some of the ideal locations to invest in Mumbai.
Here is the list of Top 8 Location to Invest in Mumbai
1. Thane :
Thane continues to be the most trending real estate hot property for a compelling reason.
Thane is a top location with great connectivity to both the central and the Trans harbor lines making it convenient for transportation.
It is an upcoming IT hub with many companies investing in this area.
Thane allows for bigger homes at the rates similar to any other location like Andheri that may offer congested real estate in Mumbai.
The average rates for real estate or residential real estate in Thane are approx. Rs.13, 000-14,000 per square.
The upcoming metro line will further enhance the connectivity of Thane throughout Mumbai.
2. Malad/ Goregoan –
Goregoan has recently obtained trans-harbor connectivity. Goregoan has been in demand due to the Nesco Hub that nestles major IT companies like Oracle and more.
The newer Ram Mandir station, the ease of connectivity to the highway and the access to the Thane area though Godbundher & JVLR improve the connectivity of this region.
The Malad area has excellent access to malls like Inorbit and Infinity that makes it ideal for residents.
The vicinity has enough greenery with Aarey forest and Sanjay Gandhi National Park so close to the location.
The average price of the property in malad and Goregaon can range from Rs. 13,386-20,990 per sq ft.
3. Panvel –
Panvel makes for a great residential real estate spot considering it is strategically located between Navi Mumbai & Thane.
Earlier, Panvel was merely considered as the second home location in Mumbai, however upcoming trends suggest due to its vicinity to Belapur and Vashi (commercial and industrial hubs), Panvel is witnessing increased demand.
Currently, Panvel is the best place to invest in Mumbai considering its price per sq.ft ranges between Rs 5,900 and Rs 7,000 per sq ft.
4. Virar –
Virar is a strong contender for the most upcoming top locations as the best place to invest in Mumbai.
What makes it an ideal location to invest in Mumbai is the fact that it is very accessible for outstation traveling since the culture of weekend getaways is popular in Mumbai.
Virar is currently the ‘in demand’ destination for second homes residential real estate.
The affordability of Virar makes it conducive for the middle class of India.
It boasts a price of Rs 4,100 and Rs 4,800 per sq ft.
5. Kharghar –
Kharghar is known for its cleanliness, its accessibility and the spaciousness of the houses.
If you are looking at living luxuriously while having access to all of Mumbai.
Infrastructure growth in Kharghar makes it a great residential area to invest in Mumbai.
What makes it the best location to invest in Mumbai is the demand is its proximity to the Taloja MIDC and highway that allows for better job opportunities in the area.
The current rate in Kharghar is Rs. 7,800-Rs 9,000 per sq ft.
6. Chembur –
A number of recent and upcoming infrastructural development in Chembur is the reason why Chembur makes it into the list of the best location to invest in a residential area in Mumbai.
The development of the monorail, connectivity to SCLR and the freeway makes it an attractive location.
Chembur homes both middle-tier residential projects and high-end residential projects that come under the luxury tag.
A number of residential real estate coming up in the area. The current rate is Rs 12,500 – Rs 19,000 per sq ft.
Also Read : Guide for Buying Your Dream Flat in Mumbai.
7. Powai –
Kanjurmarg or the Powai area is a well-established suburb belt that has some great residential real estate projects ongoing.
This area is juxtaposed in a way that it lies close to the popular JVLR that is well connected and the western express highway.
Powai has some prominent top locations like IIT Bombay, Hiranandani Gardens are more that make the location much more lucrative for the growth of this area.
The price trending in this area is Rs. 15,500-23,000 per sq-ft
8. Andheri –
While it is believed the Andheri is a mature market with regards to real estate, it continues to thrive owing to its excellent connectivity across the harbour, central and western lines.
Andheri was synonymous with traffic, however with the metro line in place connectivity around metro has improved significantly.
The price trending in this area is Rs. 21,000 -26,000 per sq.ft.
If you have been looking ‘residential area invest mumbai’ then these are your best bets.
If you need a residential area investment in Mumbai, the above listed top locations are some of the most lucrative places to invest in Mumbai.
These factors in the scope of infrastructure development in Mumbai in these areas and the trends observed in the real estate market.