Mumbais Central Suburbs Witnessing a Real Estate Revolution

The capital city of the state of Maharashtra, Mumbai is also the country’s financial and glamour capital. Though the city occupies a small island off the western coast of the state, it has emerged as the nerve of India’s economy, with hundreds of millionaires and billionaires making this city their home. The commercial centre of India is also a favourite stop for several high net-worth individuals and corporates that have set their base here. Every day, hundreds of people from other parts of India land in Mumbai to change their fortune. This is a clear indicator why real estate prices in the city are at an all-time high.

Mumbai’s property market has rarely seen a downward slump in prices. Though the industry keeps getting more dynamic with each passing day, a fall in the prices is very difficult to predict. Property agents across the city are flooded with home buyers and sellers who are always in search of better opportunities and attractive prices.

Chembur- Flourishing Central Mumbai Suburb

For instance, if you approach any of the real estate agents in Chembur, you will be surprised to find out about the quality of residential and commercial projects that have come up in this prime central suburb of the city. Though this suburb has seen steady infrastructure development from a long time, it is only in the recent years that the growth has been happening at a fast pace. A number of reputed real estate developers are coming with luxurious residential as well as commercial developments that are all set to the change the suburb’s skyline and bring it to the league of the top neighbourhoods of the city.

One of the key reasons why real estate prices in Chembur have touched new heights is the fact that social and IT infrastructure has been intelligently developed in and around the suburb. Various commercial holdings around this central suburb have received big-ticket investments that have fuelled various real estate projects. Sectors like BPO, ITES, IT and MNCs are establishing a strong presence here. This has created a heightened demand for contemporary office spaces which in turn, has pushed the demand for quality residences. Also, Chembur has highly benefitted from key projects like the Wadala-Chembur Monorail, Santacruz-Chembur Link Road, along with other highways and flyovers that have made connectivity between central and western suburbs easy and hassle-free.

Much like the central suburbs, even the city’s western suburbs have witnessed phenomenal growth in real estate infrastructure. Indeed, there couldn’t be a better time to invest in a well-located home in Mumbai. Before you look for ready possession flats in Khar or any other prime western suburbs, it is essential to determine whether your house budget is aligned with the prices of properties that you are looking to invest in. Analysing your budget is very important since you do not want to end up with an expensive property that is beyond your set budget and only traps you in a never-ending loan cycle. For this, you need to decide the size of the house that you are looking to buy. Property rates will differ based on whether you want a 1 BHK, 2 BHK, 3 BHK or a 4 BHK home.