Best Locations to Buy Property in Mumbai

Choosing a property in Mumbai, the Financial Capital of India, can be quite a tedious task for home seekers. The number of housing options and the high demand for property is making the Real Estate market in Mumbai ever booming with prices soaring exponentially by the day.

Home Seekers can start by defining their objective for purchasing the properly. Are you looking for a home that can comfortably accommodate most members of your family? Or are you just looking for a home for your spouse and child? Is proximity to your work place from home important to you? Do you wish to stay in a gated community? What are the amenities that you require in your residential complex? Are you buying a house for investment purpose? What is the budget you have in mind for your property? Once you have answered these questions, your first task is complete and you become rather confident and clear about the type of home you are seeking. 

Depending on the market demand the configuration of the apartments in Mumbai keep undergoing change. According to recent market research, it is seen that home seekers prefer buying 1 BHK apartments in Mumbai with decent amenities at a good locality that can give its residents access to metro ways, railway stations and is a short drive away from the high-way that connects the city of Mumbai. Top builders in Mumbai are spanning their construction all over Mumbai and other suburbs, like Thane and Navi Mumbai making sure that every bit of space of the is utilized thoughtfully to build an apartment. In order to have a smarter approach towards property investments in Mumbai it is necessary to know which are the best places to invest in. We have listed a few options where you can look at investing your money.

Powai

When you talk about the most picturesque and high-end suburban neighborhood you can’t miss out on Powai. Powai boasts of everything from luxury hospitals to luxury hotels, entertainment zones, supermarkets to gourmet stores, fine-dining restaurants to casual eateries and even lounge bars. The Hiranandani Builders have played an integral part in transforming the Powai into what it is today, so much so that Powai can be called as a city in itself. The breezy Powai Lake perfectly complements the glittery Powai skyline which you can admire from the balcony of your 2 bedroom luxury apartment which is literally sky high. This modern-township is adorned with state-of-the-art architecture, all the possible modern amenities and impeccable designs which makes community living an even more pleasurable experience. With the base of the famous Indian Institute of Technology, Bombay, Powai is also flourishing as a start-up hub supporting budding enterprises and matching-up to their urban lifestyle needs. The locality is also home to several premium hotels like The Chedi Mumbai and Meluha The Fern - An Ecotel Hotel alongside a number of multi-brand retail store and eatery options. Powai is also a growing Commercial Hub with head offices of many MNCs and Indian Multinationals like TCS, FIS, Amazon, Deloitte, L&T Realty, JP Morgan, Sanofi, Prudential PLC, Nomura, Credit Suisse, Bayer among others. The demand for rental houses is also growing in Powai, as the young working class prefers staying in close proximity to their work place to save on major commute time. Powai is well-connected to all parts of Mumbai via Eastern Express Highway, The Western Express Highway and Jogeshwari- Vikhroli Link Road. The Eastern Express Highway offers easy access to South and West Mumbai with a comfortable drive away from BKC (Bandra-Kurla Complex). Owing to all this Powai is undoubtedly a dream location for many aspiring Home Seekers and owning a property in Powai is nothing less than a priced possession for many.

Thane

One of the busiest suburbs in Mumbai, Thane, ticks every box on the home seekers list. Many renowned builders like Lodha, Hiranandani, Rustomjee and many more have constructed residential projects to suit the mid-sized and luxurious budget investors. In Thane you can find comfortable 2-3 BHK well-planned residence within skyrised gated communities providing for all the amenities allowing you to enjoy a well-balanced life. The famous landmarks in Thane are the Yeoor Hills and the Talao Pali lake amongst others. Thane is connected to the rest of Mumbai via the Trans- Harbor railway line and the Eastern Express Highway that passes through Thane’s Ghodbunder Road and meets the Western Express Highway mid-way. This enables easy road connectivity between western suburbs of Mumbai and Thane. Also, the Thane-Belapur Road connects Thane to Navi Mumbai. The Ghodbunder Road in Thane is known to be one of the most well-planned and advantageous locations for most investors. This locality is packed with swanky buildings, urban open spaces, infrastructure growth, good connectivity, and competitive prices. Moreover the social infrastructure is very well developed in this area with renowned School’s like the Hiranandani Foundation School, DG International School and St. Xaviers High School and the famous Viviana Mall amongst other shopping and Entertainment Destinations. Besides residential spaces, Thane is also a well-known Industrial Hub. The kinds of Industries flourishing in Thane include the chemical, textile, engineering and electrical.  IT corporate like Godrej, TCS and Aplab are located in Thane and many more BPOs and KPOs are coming up in this area. All this makes Thane an enormous and great prospect for investment purposes.

Chembur

Located in the Eastern parts on Mumbai, Chembur a fully developed suburban area, has transformed itself over the years from an Industrial Hub to a hot destination for property seekers. This is mainly due to the strategic location of Chembur which easily connects you to South Mumbai via the freeway, the Western Suburbs via the Santa Cruz- Chembur Link Road (SCLR), Navi Mumbai via the Sion-Panvel Highway, and Central Mumbai via the Eastern Express Highway. Chembur is an ideal destination that caters to the demand for home seekers looking for 2-3 BHK residences in Mumbai. The famous Bandra-Kurla Compex is located just 7.8 kilometres away and is connected well via the Chembur-Link Road. The office goers to Andheri can reach this busy area which is located 11.7 kilometres away from Chembur under an hour’s time.  On the other hand Lower Parel which is just 9 kilometres away can be accessed sooner than ever via the Sewri-Chembur Road.Chembur provides a great relief to Mumbaikars who are looking to cut down on commute time while travelling from work to home and vice-versa. Professionals can find their work-life balance by staying close to the business district areas which are easily accessible from their residence in Chembur. Moreover the proximity to the Airport and all essential amenities like Schools, Colleges, Hospitals and Shopping Centers makes this a top contender on the property charts. 

Khargar, Navi Mumbai

Kharghar is one of the 14 nodes being developed by CIDCO and is an upcoming township which is well connected via transportation facilities and can accommodate around 50,000 people. Khargar has become a famous residential and commercial hub and is quite in demand with a number of renowned real estate companies working on constructing projects like independent houses, apartments, flats and commercial spaces. The 2-3 BHK apartments in Khargar top the charts on most home seekers list. This is due to the well-planned architecture, meticulous trendy designs, no issues for space constraint and the number of facilities offered. Khargar enjoys good connectivity owing to dense suburban railway networks and is an important railway hub. As far as the road network is concerned, Khargar gives its residents easy access to most parts of Mumbai via the Sion-Panvel Highway. Moreover, the six-lane Mumbai-Pune Expressway begins at Kalamboli which is only 4 kilometres from Kharghar and makes for a good weekend getaway location. The social infrastructure is very well planned in Kharghar with every necessity just a stones through away from your home. One can locate many famous Schools and colleges in this area, one of them is the National Institute of Fashion Technology (NIFT). Besides this, easy access to emergency care facility like Hospitals and medical centers also make for a secure community living experience in Kharghar. Office Goers can commute easily to nearby IT Parks and Commerical Estates which are quite accessible from Kharghar railway station, BEST bus or railways. Panvel one of the fastest growing Business Hubs is located just 5 kilometers away from Kharghar and the commercial hub of Vikhroli is at a distance of just 15 kilometers from Kharghar and Thane at a distance of 11 kilometers. This allows the employed clan to enjoy a work life balance and maintain a healthy lifestyle at Kharghar.

Choosing a right property in a right location is like picking up a good stock. Make sure you do your research thoroughly check for factors like maintenance, down payment, access to community welfare services, EMI structure, future market and resale value, water supply, parking facility, security, track record of the builder before purchasing your Dream Home. You may want to visit and access at least 3 properties and then shortlist basis the budget and the purpose it serves you and your family. However, do not shy away from making an investment that is worthwhile and gives you confidence and security to thrive in the fast-paced city of Mumbai.