Andheri East is a prominent micro-market in the Bombay Metropolitan Region’s Mumbai-Andheri-Dahisar belt (MMR). Due to the massive density of footfall, Andheri East is an investors’ haven, as it is home to the Santa Cruz Special Economic Zone (SEEPZ), Chakala Industrial Area, and Marol Industrial Estate, all of which are part of the Maharashtra Industrial Development Corporation (MIDC), as well as other commercial hubs. Because the area is particularly popular with middle-income professionals, most property sales are for Rs 1 crore or more.
A well-known residential market
Andheri East is mostly a mid-segment neighbourhood with a diverse property inventory, with about half of the inventory allocated to 2 BHK flats. Whereas approximately 90% of the stock is valued at Rs 1 crore or more, roughly 55% is priced between Rs 1-2 crore, and the remainder is priced higher (Source: insider report). In the previous five years, the area’s house buying value has climbed by roughly 6%, and it now stands at around Rs 21,000 per sq ft.
Andheri East is bordered with residential developments by famous developers like as the Lodha Group, Sunteck Realty, and Mahindra Life spaces, to mention a few, due to the high demand for the region among buyers and tenants. The region features plenty of ready-to-move-in properties, with just around 20% of the total stock under development.
In terms of the rental market, Andheri East is popular among tenants due to the existence of various office spaces such as Bandra-Kurla Complex (BKC), Nirlon Knowledge Park, and Nesco IT Park within 5-10 kilometres of the neighbourhood, among others. Tenants prefer flats designed as 1 BHK apartments, which command monthly rents of roughly Rs 25,000-45,000. The neighbourhood provides a lower annual rental yield of roughly 5% when compared to Andheri West, but it is still good and significantly greater than many residential markets, which create a yearly rental yield of around 2-4%.
High-Quality Citywide Connection
Andheri East has outstanding connectivity through road, rail, and metro in a metropolis beset by lengthy traffic hauls. Apart from the Jogeshwari-Vikhroli Link Road and the Andheri-Kurla Road, the neighbourhood is also dominated by the Western Express Highway, which allows residents to easily commute to other parts of Bombay. A projected bridge from the Juhu-Versova Link Road to Mayor Hall is also intended to help with transportation. The Chhatrapati Shivaji Maharaj International Airport is about three kilometres away.
The area is served by a station on the Mumbai Metro’s Line 1 (Versova-Andheri-Ghatkopar). Also, the functioning of Line 3 (Colaba-Bandra-SEEPZ) would greatly assist Andheri East by adding two new stations, namely MIDC and SEEPZ. The development of the DN Nagar Metro Station on Line 2A within a five-kilometer radius of the neighbourhood would further improve connectivity. In concerns of railway access, Andheri East has its own station on the Mumbai Suburban Railway.
Developed social infrastructure.
Andheri East is well-known for providing people with all of the required amenities. The neighbourhood is filled with social services that serve to the residents’ medical and educational requirements. In addition, there are various marketplaces, malls, and supermarkets in the region that provide daily necessities. Tourism attractions nearby include the Mahakali Caves, Jogeshwari Caves, and the immensely popular Juhu Beach.
Whereas the area is well-served, it does suffer from vehicle congestion, insufficient parking, and waterlogging during the monsoons. As a result, while making an investment decision, it is critical to measure the downsides against the rewards.
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