Touted as the financial and commercial epicenter of India, Real
estate in Mumbai has always seen great demand. Despite the sky
rocketing prices, Mumbai has continued to attract investment from all parts of
the country and the world. It has also emerged as a preferred investment
destination for NRI diaspora.
With more people showcasing their interest to buy house in Mumbai, the emergence of
a couple of hot spots appears as a great bet for early investors.
Captured below are two major hotspots of Mumbai that have
witnessed increased traction amongst investors.
Chembur, the central suburb of Mumbai, is one of the prime
residential destinations. The major highlight of Chembur is that it connects
central Mumbai to Navi Mumbai. Its close proximity to Eastern and Western
Express Highways makes commuting easy to Bandra-Kurla Complex and the other
business districts of Mumbai. The place also shares an easy connectivity to
other parts of Mumbai such as South Mumbai, Thane and Navi Mumbai. Property
in Mumbai, the city enjoys a robust social Infrastructure. It has changed
the Skyline of the central suburbs with better social infrastructure. The
social infrastructure is well developed with world class hospitals, schools
& colleges etc. The area is a home to renowned educational institutions.
The Plenty of malls, restaurants, golf course, gyms & clubs etc have
increased the attractiveness of Chembur. It has some of the remarkable places
such as K Stars Mall, Cubic Mall & Bombay Presidency Golf Club etc. The
location offers excellent array of amenities that makes the lifestyle of
residents easy and lavish. Chembur has shown price appreciation by nearly
8.37%, that is greater than other localities of Central Mumbai between Q1-2015
and Q1-2016. It is expected to fetch higher returns in future.
Bandra
Bandra, especially Bandra West, is a popular residential destination
because of its high lifestyle quotient, despite the fact that it faces a
significant degree of traffic congestion. This area is always a preferred
destination for prime property seekers because of its elite crowd and high end
shopping complexes. Number of healthcare, education and recreation facilities
increase the attractiveness of the place. Developers there are offering
products in redevelopment schemes.
Bandra East is also an upcoming residential property destination,
especially for investors, since there is considerable rental demand from
enormous number of people who have come from outside Mumbai and are working in
Bandra Kurla Complex. Both capital and rental values are going to increase in
Bandra East, which it is benefiting from the overflow of demand that Bandra
West can no longer support.
BKC provides excellent connectivity to entire Mumbai suburban
areas and it is much closer to residential catchment areas also. The Bandra
Kurla Complex is connected to the Bandra railway station on the western railway
line and Kurla railway station on the central railway line, which reduces the
train travel time by 25-30 minutes. Moreover, Mumbai domestic and international
airports are located much closer to the Bandra Kurla Complex.
BKC provides corporates with the contiguous space that Nariman
Point, with its multiple ownership pattern, could never offer them. Another reason
companies have shifted from places in south Mumbai is safety, which is high on
the priority list of MNCs and big Indian businesses.
With these major hotspots, increasing number of people are willing
to buy
house in Mumbai.
