Mumbai, popularly known as ‘Alpha World City’ is one of the most sought after real estate destinations in India. The excellent infrastructure facilities offer quality living, which attract maximum people in the city known as entertainment center of India. However, Mumbai realty has reached a point of saturation that has shifted the interest of many people towards Mumbai suburbs. Read more to know about real estate scenario in Mumbai suburbs, including Andheri and Borivali.
Mumbai is a major hub for commercial activities. The availability of reputed colleges as well as multinational companies attracts students, job seekers and corporate clients across the country. However, the skyrocketing property prices in Mumbai have made Mumbai suburbs like Andheri and Borivali popular choice among people looking to buy house or office spaces.
Real Estate in Andheri
Andheri is one of the most populous and busiest suburbs of Mumbai in terms of commercial activities. Andheri west is known to offer a potential mix of retail, commercial and residential property. Realty market in Andheri West offers benefit of improved connectivity, attractive residential apartments and affordable rental property. Link Road, SV Road and the two Arterial Roads run through Andheri West. The area is well-connected by auto rickshaws and BEST Bus services. Real estate in Andheri (E) also offers lucrative investment options to those interested in buying a residential apartment or office space. The realty market in Andheri will further witness robust growth with the introduction of metro lines in the area. As a result, the property price in both western and eastern parts of Andheri will shoot up.
Andheri West, a prominent residential area in Mumbai includes posh localities like Lokhandwala, Versova, Amboli, DN Nagar, and Oshiwara. Depending on the location, flats in Andheri West are available at an average price of INR 14,000-50,000 per sq. ft. On the other hand, Andheri East includes prime localities like Chandivli, J.B. Nagar, Marol and Poonam Nagar. Property price in Andheri East varies from INR 8,000-15,000 per sq. ft. as per the location.
Real Estate in Borivali
Borivali is another popular suburb of Mumbai, which is located in the north-west of the city. Known as the ‘suburbs of garden’, Borivali is located just at a distance of 18 km from Mumbai airport. It is a prime residential locality in the city, which includes reputed colleges, popular shopping centers, restaurants and hospitals. Borivali is well-connected with nearby locations through rail and road network.
As a matter of fact, real estate sector in Borivali West has shown immense growth in the recent past. Borivali West includes popular residential colonies like Marian Colony, Yogi Nagar, Saibaba Nagar, Kastur Park, LIC Colony, Chikuwadi, Kanti Park, Satya Nagar, and Rokadia Lane. The average price of residential flats in Borivali West ranges from INR 16,000 to INR 18,000 per sq. ft. On the other hand, Borivali East offers apartments at a price range of INR 9,000 to INR 12,000 per sq. ft. Some of the popular residential apartments in Borivali West include Sapphire, Reema Terraces, Ashirwad Residency and Veena Santoor. Residential flats in Borivali offer all modern amenities like swimming pool, gymnasium, community hall, play area, jogging track, etc.
Emerging as hot property locations in Mumbai, buying property in Mumbai suburbs like Borivali and Andheri offers lucrative options. These areas offer perfect destinations for residential as well as commercial property. With the boom in real estate market in Mumbai suburbs, more reputed builders like Oberoi Constructions, Nahar Group, Lodha Group, and K Raheja are coming up with attractive commercial and residential projects. Moreover, the investing in Mumbai real estate offers huge returns in future.
So, your dream to buy a house in Mumbai is no more a dream with affordable property in Mumbai suburbs!