Mumbai is well-known for its opulent lifestyle and high living costs. Fortunately, it is not difficult to locate a house that is both economical and close to several amenities. The Mumbai Suburban Railways’ seamless connection enables cost-effective travel, and the Mumbai Metro’s soon-to-be-operational Line 2A will add to the simplicity. Thus, we have produced a list of the best five inexpensive housing neighbourhoods in Mumbai based on the convenience of living, public transit, and cost-effective house values so that you do not burn a hole in your purse.
The average property price is Rs 18,700 per square foot.
Kandivali (East) is close to the Akurli Industrial Estate and the Seepz Special Economic Zone (16 kilometres), which maintains rental demand high. It is a mid-segment neighbourhood with 2 BHK residential units that rent for roughly Rs 22,000 per month. It is about two kilometres from Poisar Metro Station on the (Dahisar East-CSMIA International) Metro Line 7 and six kilometres from Kandivali Railway Station on the Mumbai Suburban Railways’ Western Line, allowing convenient access to all major locations of Mumbai.
Furthermore, the area is well-liked by people since it is home to a number of reputable hospitals and schools, notably DNA Multispecialty Healthcare, Aditi Hospital, Cambridge School, and Gundecha Education Academy.
The average property price is Rs 18,500 per square foot.
Kandivali (West) is a Mumbai residential neighbourhood with plenty of 1 BHK and 2 BHK ready-to-move flats in the mid-income range. The proximity to Charkop Industrial Estate and the business centre of Andheri (East) at roughly 13 kilometres fuels the local housing demand. Furthermore, the under-construction Valnai Metro Station on the Dahisar East-DN Nagar Metro Line in Kandivali (West), as well as the continuing building of a Coastal Road, have improved property values here by about 5% in the previous year. Residents may be bothered by the higher pollutant emissions caused by current development. The region boasts a four percent annual rental yield, with monthly rents varying between Rs 21,000 and Rs 54,000 depending on the unit type.
The average property price is Rs 16,000 per square foot.
Kurla (East) in Mumbai has a mixed culture ranging from the high to the middle classes. The Kurla Railway Station on the Mumbai Suburban Railway Network’s Harbour and Central Lines connects the region to the rest of the city. Ghatkopar Station on the Mumbai Metro’s Blue Line 1 is also the nearest metro station (4 km). Kurla’s exceptional accessibility, as well as its proximity to the business areas of the Bandra-Kurla Complex and the Marol MIDC Industrial Area (approximately 4-10 km), drives housing demand (East).
The bulk of the flats here are move-in ready, with the majority being 1 BHK unit. Rentals in the neighbourhood begin at Rs 27,000 a month, according to an insider report. Kurla (East) is less expensive than nearby Kurla (West), Bandra (East), Chembur, and Ghatkopar, wherein monthly rentals for a 1 BHK apartment average approximately Rs 30,000.
The average property price is Rs 17,300 per square foot.
The housing hub in Borivali (West) provides upper-middle-income residential flats. Monthly rentals and property costs for a 2 BHK home are roughly Rs 17,300 per sq ft and Rs 33,400, correspondingly. The Western Suburban Railway Line connects the area to the rest of Mumbai. Furthermore, the Chhatrapati Shivaji Maharaj International Airport is around 20 kilometres away.
Major employment centres like Nirlon Knowledge Park, Nesco IT Park, and Infinity IT Park are all within 15 kilometres of Borivali West, plus the inclusion of several shops and commercial centers makes it a popular residential area.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.