Potential purchasers have been drawn to the Andheri-Mira Road region in northwest Mumbai.
The belt, which is well-connected by the Western Expressway Highway (WEH), successfully provides to the residents’ residential and business needs while also promising solid infrastructure. The typical property price in the area is between Rs 8,000 and Rs 18,600 per square foot.
The Andheri-Mira Road stretch, which stretches over 23 kilometres, has become a famous residential area in Mumbai. The belt, which runs alongside numerous prominent and expanding micro-markets, offers a diverse range of residential options to potential purchasers. While premium and mid-income consumers are catered to in areas like Andheri and Goregaon, Mira Road is a well-known inexpensive housing hotspot with a significant inventory share below Rs 50 lakh.
According to the Mumbai Insite Report, in the April-June 2021 quarter, the Andheri-Mira Road stretch, as well as Central Mumbai locales, had the most inquiries for 1 BHK and 2 BHK flats. These setups range in price from Rs 90 lakh to Rs 1.5 crore.
Andheri East is a renowned micro-market in Mumbai that includes both residential and commercial projects. It contains several offices, schools, universities, restaurants, and hospitals, notably the well-known Seven Hills Hospital in Marol.
The average price of a residential unit in Andheri East is roughly Rs 18,600 per square foot. Apart from the appealing position and accessibility to job centres, the area’s properties are highly favoured due to the existing and planned infrastructure. While Andheri East attracts a lot of purchasers, it also has a continuous demand for rental properties.
Goregaon East is located between Borivali and Andheri, both of which are important employment and residential centres. The Jogeshwari-Vikhroli Link Road and the Western Express Highway are both close by. The neighbourhood is also a popular choice for many due of its closeness to the Chhatrapati Shivaji Maharaj International Airport. Line 2A of the Mumbai Metro, which will connect Dahisar West to Andheri West through Goregaon East, might increase accessibility and housing demand in the area.
In Goregaon East, the average housing price per square foot is roughly Rs 17,780. The micro-market has a diverse range of residential alternatives, including apartments, detached houses, and builder floors. Lodha Group, Group Satellite, Oberoi Realty, and IM Buildcon are a few well-known developers in the neighbourhood.
Malad West is noted for its closeness to BKC, Andheri, and the Oshiwara Commercial District, in addition to being a significant business centre in Mumbai (ODC). In addition to schools, hospitals, and malls, the region includes Inorbit Mall and Infiniti Mall.
Residential houses in Malad West range in price from Rs 14,000 to Rs 17,000 per square foot. Only a few real estate developers have projects here, including Bhoomi Group, KP Realty, and Shreeji Group. Nearly half of the housing units for sale in Malad West are two-bedroom apartments, followed by one-bedroom apartments.
Kandivali East is one of Mumbai’s oldest residential districts, with a multicultural population. The area lies in Mumbai’s northwest sector and is connected to the rest of the city through the Western Express Highway, Swami Vivekananda Road, Link Road, and Goregaon-Mulund Link Road.
Home prices in Kandivali East range from Rs 14,000 to Rs 16,000 per square foot. Residential units in 1 BHK and 2 BHK layouts make up the majority of the available inventory. A few real estate developers in the neighbourhood are Godrej Properties, Kalpataru Group, Acme Group, and Keystone Realty.
Mira Road is a burgeoning stretch of road roughly 12 kilometres from the heart of Mumbai. The micro-market, which was formerly a suburb, has witnessed the creation of various cheap housing projects, and the rising predisposition of buyers towards these developments has swamped Mira Road with a wave of social infrastructure projects.
The well-developed job centres around Kandivali, Goregaon, Mira Road, Malad, and Andheri, according to Rohit Poddar, Managing Director, Poddar Housing and Development Ltd, are transforming these neighbourhoods from peripheries to the most sought locales in Mumbai. Their popularity has grown exponentially over time. These areas become the most popular commercial unit investment alternatives in the second quarter of 2021, following the COVID-19 second wave. With larger room sizes and accessibility to residential areas, the Kandivali-Mira Road belt has evolved as an inexpensive business alternative to the key social and infrastructure nodes. Overall, the well-designed social and commercial infrastructure is enticing investors from all around Mumbai to these regions. With outstanding connection through the coastal roads and the future metro line, this tendency may continue.
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