Mumbai has always held tremendous potential for real estate developers and investors. With the influx of people into Mumbai, the property prices in the city have spiralled over the years, making it unaffordable for a larger chunk of the population. Over the years, Mumbai has been expanding into the suburbs and huge development has happened in many smaller pockets of the city. If you are looking to buy your first home in the city or wish to buy a second home for investment purpose, there are many smaller locations that are affordable and have the potential to yield a good return on your investment.
Here are 3 best places to invest in Mumbai:
The Kalyan Dombivali stretch has always been a favourite destination for people seeking affordable housing. Kalyan is a major railway station on the Central line and is one of the busiest stations in the suburban network.
New Central Business Districts (CBDs) have sprung up in the suburbs of Mumbai and these will be the economic hubs of the city, in times to come. Thane and Navi Mumbai are the new centres of economic activity and the Kalyan –Dombivali area offers connectivity to both these places. The area boasts of a large industrial belt in its vicinity, from Kalyan to Badlapur. Locations like Shilphata, Kalyan, Dombivali and Titwala will continue to be on the radar of real estate developers.
Lodha Palava is an ambitious project launched by the Lodha group. The project is coming up at the junction of Kalyan, Navi Mumbai and Dombivali. Sprawling across 4,500 acres, the Lodha Palava is slated to become the largest privately planned city in India and India’s no. 1 smart city.
Thane is fast emerging as an investment hub for home buyers in Mumbai. Property buyers in Thane have enjoyed almost 300% growth in the last 5 years, according to real estate experts. One of the biggest advantages of Thane is its connectivity to other parts of the city. The proposed metro rail project will enhance the connectivity further. Infrastructural projects such as the Thane-Diva Road, the Bhiwandi bypass flyover and the parallel roads from Thane to Kalyan will boost the connectivity further. Kalpataru Paramount and Puranic Grand are upcoming projects in Thane that hold a lot of appeal. These properties are strategically located and offer top class amenities.
Kharghar- Navi Mumbai
Khargar is the third most developed place in Navi Mumbai after Vashi and Nerul. It is a planned city, conceptualised by CIDCO. It boasts of a Central Park, a golf course and a jogger’s track. It also houses food courts, theme parks, amphitheatre, fountains, botanical gardens and the works. The place offers good health care facilities with many hospitals, clinics and pharmacies.
Apart from world-class amenities, Khargar offers great connectivity by road and rail. Khargar is connected to Mumbai and Navi Mumbai by the Sion-Panvel Highway. The Mumbai-Pune Expressway is in close proximity to Khargar.
The real estate prices fall in the range of Rs. 6,300-9,700 per square foot in Khargar. The proposed metro connectivity and the upcoming Navi Mumbai International Airport will further boost the property prices in Khargar. Investing in Khargar is sure to yield good returns in the future.
With home loans from Bajaj Housing Finance Limited, the whole process of buying a home is made hassle-free with in-person assistance, conducted site visits, and documentation assistance.