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Mumbai's real estate in 2019 had seen skyrocketing property prices and a significant demand-supply discrepancy had been seen. Thereafter, the ongoing economic slowdown led homebuyers to shift their buying plans to the next year. Likewise, this year has been difficult for various industries due to the pandemic. Real estate seemed to hit bad amongst other industries. According to Mark Zandi, a famous American Economist, "An economy isn't going to recover until the real estate market finds its footing". We agree with what Mark Zandi has to say! As we know that after darkness there comes light but we need to wait to see it. Well, the opportunity is now since 400 builders have decided to waive off stamp duty. Let's look out for the best real estate investment location options that would reap your profits in the future if invested at the right location, in the right budget and on the right property.
To make this process easier we have concluded these locations to be amongst the 7 best places in Mumbai -
1. Goregaon: Goregaon is located between Andheri and Borivali and is an ideal destination for those looking for premium homes in Mumbai. It is linked with Jogeshwari–Vikhroli Link Road (JVLR), Western Express Highway and Mumbai international airport. The Metro line from Versova-Andheri-Ghatkopar acts as a catalyst to the housing demand and helps investors earn good rental income from 1 & 2 BHKs. The completion of the Mumbai Metro Phase 2 which connects Dahisar-Bandra-Charkop- Mankhurd & Line 3 which connects Colaba-Bandra-SEEPZ will further improve the connectivity with other parts of the city simultaneously lead to increase in property prices as well as demand.
Some of the prominent developers offering residential units in Goregaon are Codename Legacy ( Rs. 91.5 lakhs onwards), Chandak Bay Garden (Rs. 88 lakhs onwards), Crown residences (Rs. 1.90 Cr onwards), Kalpataru Radiance (Rs.2.02 Cr onwards), Luxor (Rs. 2.17 Cr onwards), Sunteck City and many more. With so much to offer, the locality comprises renowned schools, hospitals, sports clubs and multiple transit options thus tops our list of best investment options in Mumbai.
2. Thane: Thane, as we all know, has become one of the prime locations as it connects the neighbouring suburbs via Central as well as Trans-Harbour railroad. Thane has witnessed an infrastructural upliftment for a decade now. Due to the increasing commercial demand, there has been a surge in residential developments also. MMRDA is about to roll out Metro 4 i.e Wadala-Thane-Kasarvadavali and Metro 10 i.e Gaimukh-Shivaji Chowk would spike real estate demands as well as cost per square feet in Thane. Thus due to the excellent connectivity, Thane has always been a buyer's favourite as well as top builders like Hiranandani, Piramal, Kalpataru, Lodha, Dosti choice.
Projects like Shapoorji Pallonji's Northern Lights (Rs. 1.1 Cr onwards), Piramal Vaikunth (Rs. 63 lakhs onwards), TenX Habitat (Rs.70 lakhs onwards), Unique Greens (Rs. 75 lakhs onwards), Mahavir Springs (Rs. 77 lakhs onwards), Kalpataru Launch Code Starlight (Rs. 82 lakhs onwards) provide world-class amenities and luxuries to lead an extremely comfortable life!
3. Kanjurmarg / Powai: Powai, famous for IIT Bombay and Powai Lake, has been one of the hotspots that have been attracting home seekers. Due to its connectivity to western suburbs via JVLR and Central Mumbai via rail and roadways. Easy access to SEEPZ IT hubs, Vikhroli, Airoli and Mahape IT Hubs Powai and its neighbouring regions have found tremendous popularity amongst residents.
Some amazing projects to check out in Powai - Runwal Luxury Collection (Rs 1.53 Cr onwards), Runwal Bliss (Rs 1.19 Cr onwards), Vicinia (Rs 1.71 Cr onwards), Emerald Isle Phase 2 (Rs 1.81 Cr onwards), Lake Riviera (Rs 1.76 cr onwards)
4. Kharghar: Kharghar adjoins the Central Business District (CBD) of Belapur in Navi Mumbai and is bound by two major highways and the scenic Kharghar Hills. The Taloja industrial estate and Taloja creek have led to residential developments here. Kharghar is primarily a residential township but also has several educational institutions so that is why it is favourite amongst home buyers. The Navi Mumbai Metro shortly will add value to the investments as it will be from Belapur to Pendhar via Kharghar thus it will be improvising connectivity further. The entire Kharghar node along with nearby industrial Taloja will get connected to the Upcoming International Airport lending an opportunity for businesses in this area.
5. Panvel: Panvel has been gain popularity because of the affordable housing segment. This locality is pulling a major chunk of Mumbaikars who would not want to compromise on the space. To add on, the upcoming international airport has led to an increase in residential projects. The proposed infrastructure commitments like Navi Mumbai International airport, Trans-Harbour Sea Link along with some Indian industry majors like Larsen & Toubro Limited, Reliance, Hindustan Organic Chemicals Ltd, ONGC, and IPCL in Panvel's vicinity are providing mass employment and development. It is believed that Panvel Prices are going to spike in the next 5 years, so why not make a smart investment in this neighbourhood.
Some great investment options to look out for in Panvel - Balaji Symphony (Rs 55 lacs onwards), Tricity Luxuria (Rs 57 lacs onwards), Wadhwa Wise City (Rs 33 lacs onwards), Hill View Residency (Rs 27.8 lacs onwards) are some of the properties to look out in this locality.
6. Chembur: The major infra developments that have elevated and consolidated Chembur’s real estate fortunes include the Santa Cruz - Chembur Link Road (SCLR), the Eastern Freeway and the Monorail (from Chembur to Wadala). There was never an iota of doubt with regards to the potential that Chembur real estate had and it was only a matter of time that the same would be unleashed in the market. The silent spectator gaining utmost importance in Mumbai, Chembur, has been on real estate builder's radar since a very long time and the reasons are crystal clear. If you intend to work in prominent office markets of BKC and Lower Parel then the smartest place to look for 1 BHK apartment in Mumbai would be Chembur. With the increasing property rates in Chembur, the average family can still find extremely posh apartments within an affordable range. Premiere By Panache (Rs. 90 lakhs onwards) and Alta Vista (Rs. 1 Cr Onwards) are current developments in this area.
7. Wadala: Wadala is the next BKC! Yes, you read it right. It is becoming a commercial hub because of its vicinity to the Eastern Freeway, Eastern Express Highway, Monorail from Chembur to Wadala and the metro-4 corridor which connects it to Thane. The literal commute time has reduced from 30 minutes to 10 minutes. Another infrastructural boom that has drawn buyer's attention is the plan that would connect work and housing which would be Mumbai's first walk-to-work hub has been hitting headlines in Mumbai's real estate market.
Simultaneously, large residential projects like Lodha Cuffe Parade (Rs. 1.65 Cr onwards), Ruparel Maximum Mumbai (Rs. 96 Lakhs onwards) have been approached by many Mumbaikars which in itself are amazing projects with world-class structure and top-notch amenities
Well, if you have a certain budget and location constraints then there is something on the platter to serve you. Property prices may seem intimidating but properly articulated needs would help you shortlist the best fit for you and your family. So what are you waiting for? Get your research glasses on and pin your desired locations as we help you find your dream home that's the best fit for you & your family at www.thepropertist.com