Four Affordable Residential Zones in Mumbai

Four Affordable Residential Zones in Mumbai

These are the top four neighbourhoods to consider if you're looking for an affordable property in Mumbai with good construction quality & basic facilities.

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A Mumbaikars is constantly on the lookout for a great deal on a house. Finding a house that meets your needs is difficult due to the city's high population density. However, the Mumbai Metropolitan Region (MMR) has four important areas where you might discover your ideal house.

First Panvel As one of the most affordable places to buy a property, Panvel takes the top spot. The suburb's property costs per square foot range from Rs 6,500 to Rs 7,000. Numerous homebuyers have relocated to the region from nearby Navi Mumbai neighbourhoods like Vashi and Nerul. Panvel has had significant growth in recent years. If you possess a car or bicycle, Panvel is a reasonably priced region. Although there is an auto rickshaw service in the region, it can be challenging to locate one after sundown. Although prices in the neighbourhood did somewhat increase in 2022, they remained reasonable.

Panvel's real estate costs have experienced significant swings during the past few years.

When the foundation for the Navi Mumbai International Airport was erected, they reached a high in 2018–19. But there has been a small standstill as a result of the delay in its construction.

2nd Charkop The western suburb of Charkop, which is situated on the outskirts of Kandivali and is primarily regarded as an industrial area, has grown significantly during the past several years.

This is a result of the economic boom following the April 2nd inauguration of Metro Lines 2A, which connects Dahisar with Dahanukar Wadi (Charkop), and Line 7, which connects Dahisar with Aarey.

The configurations offered here are numerous; a one-BHK is approximately 370 square feet at an inexpensive price, a two-BHK is between 515 & 580 square feet, and studio apartments of approximately 260 square feet are also available. Charkop is a desirable place to buy a home in (near to a Metro at cheap rates), as the rates in the area have increased since the Metro began operations and are now between Rs 10,000 & Rs 15,000 per sq ft.

Additional connectivity is provided by the Brihanmumbai Electric Supply & Transport (BEST) buses, which run from the Kandivali station to Charkop. Mumbai's property values are currently rising. The average property price in Mumbai increased by 6% over the past year and by 4% over the previous six months.

3rd Dombivli Dombivli has traditionally had lower property rates than its competitors, like Kalyan, despite being an older neighbourhood. One of the causes is that Dombivli is situated between two important stations, Kalyan and Thane.

As a result, trains to these busy destinations are frequently crowded, making it challenging to board a local at Dombivli station.

As a result, property values in the area have decreased and are now between Rs 8,000 & Rs 8,500 per square foot.

When Metro Line 5's second phase begins operating in 2025, connectivity is anticipated to increase. The line will feature a total of 17 stations and follow the Kalyan-Dombivli-Taloja route.

4th Gorai On the western side, Gorai has become a popular destination for cheap lodging. "Although Gorai is most famous for its beaches, there are a few places that are within its borders but 20 minutes away from Borivali station. With property values ranging between Rs 10,000 & Rs 12,000 per sq ft, the micro-market is only a short rickshaw ride from Borivali railway station. As a result of the area's tremendous potential, a number of reputable developers have either started their projects here or are preparing to do so.

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