Oshiwara Is a New Real Estate Destination in Mumbai.

Oshiwara is a new real estate destination in Mumbai

Oshiwara Commercial Area in Andheri East is predicted to emerge as the preferred destination for residential and business investors in Mumbai, thanks to a number of factors including increasing house options, new infrastructure improvements, and a strategic location.

After the Bandra-Kurla Complex, the Mumbai Metropolitan Region Development Authority (MMRDA) plans to build Oshiwara District Centre (ODC) as the next huge growth hub (BKC). The forthcoming infrastructural and commercial projects, which will draw investors from all over the world, are projected to provide ODC a major boost. Oshiwara's development is being planned along the lines of a established company centre –Bandra Kurla Complex (BKC), which will be a mixed-use development including living areas, business areas, retail hubs, restaurant, and entertainment zones.

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Investment Possibilities Oshiwara's real estate market is expected to expand further now that ODC has been designated as a new Business District. ODC and its neighbouring districts have already established themselves as important business hubs of Mumbai, with corporate parks like as Nirlon Information Park, Nesco, and Infinite IT Park nearby. The projected expansion would help to boost the region's business and residential growth. As a result, the area will see a solid demand for rental units in addition to adequate residential traction.

The neighbourhood is ideal for professionals looking to purchase their first house or rent an apartment.

Industry experts estimate that with the proposed expansion, ODC, which is located among AndheriLokhandwala and Goregaon, will produce 2.5 lakh jobs and housing roughly 20,000 residential properties.

Connectivity has improved.

Whenever it comes to connectivity, ODC comes out on top. The Western & Harbour railway lines run through the region, connecting it to Goregaon, Malad, and Kandivali. Mrinal Tai Gore Flyover & NSC Highway Bridge is two flyovers that provide easy access to Goregaon as well as the eastern side of the business sector.

Infrastructure initiatives that are in the works

To meet the growing traffic, the MMRDA is focusing on road-widening projects. The majority of the roads have already been started, and if completed, they will greatly improve ODC's internal connection.

A flyover connecting Oshiwara to the Jogeshwari-Vikhroli Link Road (JVLR) is also being developed, making it easier to commute to other regions of Mumbai. The projected Oshiwara suburb railway station here on western line, as well as the harbour line extension up to Goregaon, will improve the area's connectivity.

BKC doppelganger A state government has drawn lessons from its previous dealings with the BKC. It has far more commercial work than residential ones, leaving limited room for those who work there to buy homes or access necessary social infrastructure. As a result, ODC will concentrate on both sectors, with approximately half of the space set aside for residential buildings. The government also intends to improve the area's social infrastructure, including schools, hospitals, restaurants, shopping malls, and other facilities.

Multiple Locations Numerous IT/ITeS enterprises will be located in the Oshiwara District Center. Furthermore, it is approximately 15-20 minutes from Malad, which is home to Mindspace, one of Mumbai's largest business outsourcing centre’s. The projected commercial, commercial, and entertainment zones would

give ODC a distinct personality, with state-of-the-art facilities that will set it apart from previous business zones like BKC and Nariman Point.

Outlook Varun Arora, CEO & Co-founder of Ekostay, explains why Oshiwara is becoming more popular: "Oshiwara has transitioned over all the years from the a industrial and manufacturing region to a flourishing housing segment." Oshiwara already has a large number of middle and upper-middle-class families, making it a desirable location for future investors. Furthermore, because it is only a few miles from of the Western Express Highway (WEH), SV Road, a Linking Road, and the Ram Mandir Railway Station, Oshiwara is noted for its excellent connectivity. The Mumbai International Airport is only 10 kilometers away. Between Goregaon and Andheri, Oshiwara is notable for its residential and business complexes. Chandiwala Complex, Lokhandwala Complex, and Infinity Mall are some of Oshiwara's commercial behemoths.

2nd home buyers have also shown a heightened interest in reputable developers' strategically located residential buildings in Oshiwara. This is due to the fact that these high-quality developments are likely to appreciate in value significantly in the coming years. The Oberoi International School and VIBGYOR High School are two of the several educational institutions in Oshiwara. Overall, if you're looking to buy a home in a location with improved connectivity, a pleasant lifestyle, and excellent facilities, Oshiwara can be a wonderful choice."

Conclusion: Oshiwara is being built like a well planned hub that will relieve congestion in the surrounding suburbs while also increasing property values. Due to the obstacles provided by the Coronavirus, typical property prices in Oshiwara fell by 8-10% YoY in January-March 2021, with average prices hovering near Rs 16,200 per sq ft.

Experts are optimistic, however, that with infrastructure improvements and commercial developments planned, as well as the COVID-19 impact in Maharashtra progressively receding, investors will return to the market. Residential demand and, as a result, property prices in the area will be restored.

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