Top 10 places for property investment in Mumbai in 2023!

MUMBAI – Think of this city, and several things come to mind. Never say die attitude of the city, fast pace of life, and, of course, Bollywood. People say Mumbai is a city that never sleeps. The same is the case with the real estate industry in Mumbai. Despite claims of a space crunch and sky-touching property rates in the city, Mumbai always has demand and supply for people looking for options to buy property for investment purposes.

Whether or not you live in Mumbai, if you are looking to invest in the right property in Mumbai, then read on. This blog is aimed at guiding you through the top places to invest in Mumbai, which will offer you good returns in the near future.

  1. Andheri

One of the upcoming suburbs, Andheri is well-known and well-connected area when it comes to connectivity within Mumbai and even outside. The Andheri railway station is among the busiest in the city. Several intracity trains also halt at this station. The monorail has also enhanced connectivity. This suburb houses many prominent malls, hospitals, schools, etc., which add to the attraction. All these reasons put together have made Andheri a preferred location for many corporates.

  1. Panvel

If you are looking to invest in an area a little away from the hustle and bustle of the city and that is comparatively less crowded, then Panvel is a very good option. Compared to other parts of Mumbai, Panvel is closer to Pune, which is a major satellite town. Another reason for the popularity of Panvel is that it is still under the affordable limit for middle-class families. That’s the reason many blue-chip residential and infrastructural facilities are coming up in this area. The locality also houses several public facilities and healthcare facilities. The local authorities are looking to develop the area further. The decision to connect Panvel with CST railway station and other cities is expected to further boost the interest of investors in this locality.

  1. Thane

Once the population started growing and the property prices started going up in Mumbai, people started to look towards satellite towns. The first option they saw was Thane, and hence it became their first choice. Apart from Mumbai, Thane is well-connected to major industrial and commercial hubs like Kalyan and Bhiwandi through the local train, metro, and road network, including the eastern express highway. The area houses offices of several prominent MNCs, business houses, and self-employed professionals, in addition to malls, schools, and hospitals.

  1. Wadala

Moving over the Bandra-Kurla Complex, Wadala is all set to become the next big thing as far as commercial activities are concerned. Well connected to Mumbai and other cities through excellent highways, the locality also boasts of state-of-the-art infrastructure, which attracts several people looking for residential and commercial properties in this locality. Still within an affordable range, the locality is a promising choice for real estate investment in Mumbai. In addition to the upcoming Lodha Complex, the locality has several prominent residential and commercial complexes and other public utilities.

  1. Chembur

Once well-known for the famous RK Studios, today Chembur is becoming the choice of investors looking for a handsome return on investment. Thanks to recently developed infrastructure, Chembur connectivity with other parts of Mumbai has improved, both in terms of time and convenience. Apart from the local trains, Chembur also has monorail facilities. As a result, Chembur houses several premium residential apartments, office complexes, malls, schools, and hospitals.

LocalityType of PropertyAverage Sale Price
(Rs./square feet)
ChemburApartmentRs. 19,862
 HouseRs. 16,152
  1. Goregaon

Well connected to Vikhroli through JVLR, Goregaon is yet another suburb that is fast developing as an ideal location for property investment. Located between Andheri and Malad, Goregaon is the home of many famous businesses and commercial activities. Owing to its excellent connectivity and facilities, the area is quite popular for residential and commercial properties, despite having little experience compared to other localities. Located on either side of the Western Express Highway, the locality is fast becoming an ideal choice for property investment in Mumbai.

  1. Mira Road

Though administratively it comes under the Thane district, its proximity and connectivity through the Western Railway Line and the Western Express Highway have made Mira Road among the top locations for property investment in and around Mumbai. In the last few years, the area has seen fast-track development in terms of infrastructure development and residential complexes. Just a little distance away from Borivali, Mira Road has residential complexes built by several top-notch builders.

  1. Virar

Located at the far end of extended Mumbai city, Virar is fast becoming a preferred destination for people looking to make an investment in real estate. Once touted as ‘the locality’ for middle-class families who dream of having an affordable house of their own in the vicinity of Mumbai, the landscape in Virar is changing very fast. Since the establishment of Virar Municipal Corporation (VMC), the area has gotten a tremendous boost, as far as infrastructure development is concerned. As we talk, the locality houses some of the best schools, hospitals, malls, residential complexes, and much more. The direct connectivity with Mumbai through the Western Railway Line and the Western Express Highway has acted as a catalyst to boost this growth.

  1. Kharghar

If you are looking to invest in property in the newly developed part of Mumbai, then Navi Mumbai is where you should be headed. Within Navi Mumbai, Kharghar is one of the most attractive localities. With wide roads and public parks, the area boasts of amazing infrastructure, which is quite different from the main city. The area was a paradise for those looking for an affordable and value-for-money residential property, but today the scenario has changed a lot. One can see several residential and commercial developments in the area, thanks to good connectivity with Mumbai through harbour line and highways.

  1. Mulund

Among the areas developed in recent times in the vicinity of Mumbai, Mulund is one of the top candidates. The area is nothing less than a dream come true for people looking for world-class amenities and infrastructure at a price within their reach. Today, the locality boasts of several high-rise buildings, gated colonies, and townships, which are quite safe even for senior citizens. The area is well connected with the main city, and the plan to extend the monorail to Mulund is going to further shoot up property prices in the area. On the lines of JVLR, there is a proposal to develop a Goregaon-Mulund Link Road. Once ready, the road will prove to be a game changer for this locality.


When it comes to choosing the right property to invest in, the final decision boils down to choosing the right locality first. With so many options, making the right decision is not easy. After all, the decision involves putting in your hard-earned money. That’s where one needs someone with complete knowledge of the current and upcoming scenarios. Someone who can understand your budget and needs and can come up with professional yet genuine suggestions. Someone more than a property broker, a property consultant, whom you can rely upon.

That’s where can help you. So, if you looking to invest your money into buying one of the most expensive things in your life and secure your future, you may want to avail the services of experts with loads of experience in real estate. With a wide range of property options, our experts will help you choose the property that’s made just for you.

Source: Magicbricks & Housing

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.


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