Jul 18, 2022

Top 3 localities to buy real estate in Mumbai

After the COVID-19 outbreak, the price of real estate significantly decreased, but when the number of cases decreased and the Indian economy recuperated, the rate of real estate started going up. Real estate will continue to climb, and investing is the only way to fight inflation if you intend to buy for the long run.

Mumbai is a viable choice to take into account because it is one of the most well-known and well-liked places for investors worldwide.

Mumbai is known as the "City of Dreams" for a good reason. The most expensive real estate properties are dispersed throughout the city, which is also renowned as the nation's financial capital. When it comes to residential property in Mumbai, any listing available for sale is bound to be quickly grabbed by eager buyers. Ongoing Real Estate Projects in Mumbai has been improving for a while, and things are expected to get even better in coming years. You might be curious about which real estate markets will see the biggest price increases. We've put up a list of the top three locations in Mumbai to buy real estate that will help you increase the value of your holdings.

1. Andheri

Mumbai's Andheri, a bustling neighbourhood, offers tremendous investment potential. Many international firms favour it as a location.

All parts of Mumbai are well connected to Andheri. It is proud of its well-developed transportation network, which includes highways, municipal buses, and metros. It also includes a number of upcoming projects from local governments.

There are several business areas there, which means there are lots of job prospects. Living conditions are outstanding compared to many other regions. It includes shopping centres and top-notch hospitals—everything a nice neighbourhood ought to have.

As of October 2021, the average price of a square foot in Andheri East was Rs. 18,630, compared to Rs. 23,681 in the west.

Click here to look at properties in Andheri, Mumbai.

2. Malad West

The majority of professionals who work in workplaces in the Andheri-Borivali area choose Malad West as a dwelling destination because of the accessibility it provides.

Malad West, one of the city's major business districts, is renowned for its proximity to other employment centres, including Bandra Kurla Complex, or BKC, and Andheri.

Bus stops, which are the primary source of transportation for the working class and residents of Malad West, play a significant role in the neighbourhood's connectivity with other areas of Mumbai. However, it is believed that the continuing Metro line development, when finished by June 2021, will significantly increase Malad West and commercial demand as well as the desire of its renters.

There are numerous schools, more than a thousand restaurants, cafes, or eateries, numerous hospitals, banks, and a number of malls—the most well-known of which are Inorbit and Infiniti Mall.

Click here to look at properties in Malad West, Mumbai.

3. Mulund

Mulund offers good transportation options, made possible by the presence of a separate train station on the central line of the Mumbai railways. Through the Eastern Express Highway, it is connected to Navi Mumbai, South and Central Bombay, and both. The proximity to the International Airport, LBS Marg, and the Goregaon-Mulund Link Road (GMLR) all increase Mulund's accessibility and demand.

Business centres including MIDC, BKC or Bandra-Kurla Complex, SEEPZ, and Powai are also nearby. Mulund offers a cosy residential region with close-knit neighbourhoods, lavish mansions, and expanding prospects. It contains a wide variety of shopping centres, institutions of higher learning, clinics, eateries, and offices. Prices in the neighbourhood currently vary from Rs. 13,000 to 20,000 per square foot, with a high potential for appreciation thanks to excellent social and physical facilities and seamless connection.

Click here to look at properties in Mulund, Mumbai.

Final Word

There are usually considerably lower prices for residential units in these areas, thus ensuring greater returns over the long run. However, before making a final decision, it is advised to visit the property and thoroughly inspect it before making any commitments.

It may initially appear to many people that there is no more room for expansion in Mumbai or its surrounding areas or that districts in Mumbai have reached their capacity, however, this is untrue. Areas in and around Mumbai have a lot of potential for real estate development, which may be quite lucrative in a few years as an investment. Investing in the aforementioned properties is one way to take advantage of the real estate market's explosive rise in Mumbai.

Is investing in Mumbai real estate a wise choice? The article should allay your concerns if this question troubles you. So, why are you still waiting? As we assist you in discovering the ideal property at Transcon for you and your family, put on your research glasses and pin your desired locations. Contact our real estate professionals right now for the greatest property in Mumbai for your family.