Mumbai’s eastern suburbs have great investment potential
As the scenario of saturation sets in Mumbai, its suburban locales have opened the doors for futuristic development. Mulund, Kurla, Bhandup, Ghatkopar, Vikhroli and Powai are some of the eastern suburbs of Mumbai that have turned out to be a boon for property investors. Properties in Kurla West have been launched by prestigious development companies such as Runwal Group, Mayfair and Eiffel Developers.
The two main reasons the eastern suburbs are gaining ground among investors are their rapidly growing infrastructure and ‘value for money’ ratio.
infrastructure growth
Mumbai’s eastern suburbs are among the areas that experienced the fastest infrastructure development in the city. The Eastern Freeway has played a key role in increasing the demand for property in Mulund West. Santacruz Chembur Link Road drastically reduced the distance between the two towns and facilitated commuting between commercial centers and the central suburbs. Metro connectivity to Versova is also coming up in the next phase. In addition to the physical framework, these suburban neighborhoods also enjoy good civic services.
Value for money
The Eastern Suburbs were initially low key in terms of real estate deals due to their industrial roots. But with the many infrastructure developments and the wide availability of developable land, real estate developers took notice of this area and launched some of their projects. The trend has accelerated and now these areas stand out as competitors to the well established commercial areas of South and Central Mumbai.
Also, the property prices in these locations are affordable compared to the above locations. One can find properties in Kurla West at an average rate of Rs 10,000-13,000 per square foot. while a similar property in a southern or central suburb would cost Rs 20,000-25,000 per square foot; and for luxury homes it can go up to 45,000 per square foot.
In addition to infrastructure and value propositions, investors are also looking for better connectivity options when scanning a location. Since the eastern suburbs are served by the Mumbai Central Line, they are easily accessible from elsewhere. The eastern and western suburbs are also connected via Jogeshwari-Vikhroli Link Road (JVLR), Andheri-Ghatkopar Link Road and Andheri-Kurla Road. Being well connected to the commercial hubs of South Mumbai, the prospects for value appreciation are ample in the eastern suburbs.
Compared to the western suburbs, you will find them too congested while the eastern areas have wide roads with smooth connectivity. Builder quality is also better in the East. Thane offers excellent residential options at affordable prices. The property in Mulund West is also very popular with end users.
So, if you’re one of those investors looking for an affordable property that produces good returns, visiting the Eastern Suburbs is a given.
