After the second wave of COVID, Mumbai, one of India's most expensive real estate markets, has begun to see encouraging market changes. Low house loan interest rates were a major element in the city's increase in residential inquiries between March and August 2021. In this answer, I will focus on the top 5 locations to invest in residential real estate in Mumbai:
- Goregaon (East):
located between Andheri and Borivali, is a good location for individuals looking for affordable housing in Mumbai. In Goregaon (East), the current average home price is roughly Rs 20,700 per sq ft. The Jogeshwari–Vikhroli Link Road (JVLR), the Western Express Highway, and the Chhatrapati Shivaji Maharaj International Airport are all connected to it.
- Kandivali (East):
Located in the north-western section of Mumbai, it is one of the posh and oldest housing destinations in Mumbai. The locality is recognized for delivering integrated townships that include housing options priced at Rs 16,600 per sq ft. Between April-June 2020 and April-June 2021, the neighborhood saw a price increase of roughly 2-3 percent YoY.
- Andheri (East):
Andheri (East), a cluster of affordable residential and commercial real estate projects, has emerged as one of the favorite investment sites in comparison to Andheri (West). Residential apartments sell for roughly Rs 18,600 per square foot on average. It is also a popular rental location due to its proximity to the Western Express Highway and the local railway network.
- Malad (West):
Because of its proximity to the Bandra Kurla Complex (BKC) and the Andheri commercial zone, the business hub of Malad (West) has seen an increase in housing demand. The area caters to purchasers in the middle and upper-middle-income brackets, with residential flats averaging Rs 17,400 per sq ft.
- Vasai and Virar:
The two neighborhoods, which are located beyond Mira Bhayadar, are regarded as the most affordable housing destinations in Mumbai. The majority of homebuyers in the city prefer them because the average property prices range from Rs 5,200 to Rs 5,400 per sq ft. The neighborhood is great for homeowners looking for affordable housing in Mumbai.
This concludes my answer about the top 5 locations to invest in residential real estate in Mumbai.
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Top 5 Locations to Invest in Residential Real Estate in Mumbai
prashantc
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2020-08-24T12:09:29+00:00 2020-12-15T18:46:20+00:00Comment
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