Railways to catapult real estate in Mumbai suburbs
The city of dreams Mumbai attracts many people across the country in search of better job opportunities. The service sector lures the people to migrate to Mumbai. No wonder Mumbai has become over crowded and along with land scarcity faces shortage of basic amenities like water and sanitation. However, Mumbai real estate market is a high priced market, failing to meet the affordable housing needs of the people.
Well what is affordable housing?
Affordable housing refers to housing units that are affordable by that society whose income is below the median household income. The term affordable is subjective and might differ from the definition that one believes it to be. It is significant in developing countries where a majority of the population cannot afford to but houses at the market price.
The regulatory and tax policies are finally providing strength as well as transparency that it lacked in the future. Due to the project cash flow in comparison to the conventional real estate most affordable houses are sold out long before they are ready.
With improved connectivity, the outskirts of Mumbai are turning into hubs of affordable housing. These include areas of Navi Mumbai, Bhiwandi, Dahisar, Vasai-Virar, kalyan, Karjat, Dombivli and Badlapur.
In the estern suburbs of Mumbai, Vasai-Virar is the new emerging belt witnessing a huge demand for both residential and commercial sectors. The major USP of the locality is the connectivity to Mumbai’s CBD and reasonable capital values.
Properties in Vasai - Virar:
This belt has recently witnessed a boom due to the increasing prices in Mumbai suburbs and growing demand for affordable housing in Mumbai. A proposal for extending the Navi Mumbai metro rail to kalyan has fuelled the growth for housing in Kalyan-Dombivli.
Properties in Kalyan Dombivli:
Massive landmark has attracted many renowned developers to the region with mega construction planes in the future. Owing to good connectivity, affordability, and improved infrastructure this belt seems to be a promising investment option.
Properties in Naigaon:
Being an important railway station on the western railway line of Mumbai Suburban Railway line of the Mumbai Suburban Railway. There is a significant level of economic activity in this region which has created many job opportunities thereby creating a strong demand for housing. So it makes sense to buy a house in Boisar. With the increased connectivity it will also be easier to stay at Boisar and work at Malad and Andheri.
Properties in Boisar:
Owing to the proximity to industries and industrial areas, there are apartments and housing societies available in the area. The growing infrastructure in the area and affordable housing prices are also slowly giving rise to several residential units. Apart from being close to the industrial areas of Kharghar and CBD Belapur, Taloje itself has MIDC industrial area with several small and big industries. Proposed metro station in this area seems to attract more home buyers with capital appreciation due to the upcoming Navi Mumbai International Airport.
Properties in Taloja: