As the commercial hub and life force of the Indian economy, Mumbai has been a dream destination for every Indian looking to build a good life or career. Accordingly, there is a huge demand for homes and commercial spaces in this city. That makes Mumbai, a sprawling metropolitan bursting at its seams and evidently, one of the priciest places to live in India.
Of late, the already crowded city is seeing a spurt of growth in its suburbia. Well-connected, and complete with all the amenities and infrastructure, for those who desire a great lifestyle, these are the perfect choice for first-time home-buyers as well as real estate investment.
Here are the five prominent Mumbai suburbs worth investing in right now:
Thane is a neighbouring city of Mumbai but now considered a part of Mumbai by many. It offers the same standard of living that one gets in a posh locality in the heart of Mumbai. In fact, there are a number of factors helping Thane score over Mumbai and other parts of the MMR as the favoured destination for home-buyers and investors today. They are location, connectivity, infrastructure and most importantly, liveability thanks to its plenty of greenery, lakes and less traffic. Investing in a 2 BHK flat on Ghodbunder Road Thane makes perfect sense, as it can provide assured returns and is great for living too.
Unlike the older urban areas of Mumbai, Navi Mumbai has better infrastructure, great connectivity, wider roads and the desirable cleanliness. Flanked by the gorgeous Arabian Sea, this planned extension of Mumbai is fast proving itself to be a better version of its parent city. It offers lower property prices compared to mainland Mumbai and yet provides access to all common utilities. Thus, this region is attracting a lot of young families looking for a home closer to their workplace.
Located in northern Mumbai, Mira Road has emerged as one of the top investment destinations in the Mumbai Metropolitan Region (MMR). This rapidly growing suburb is just few kilometres from the western suburbs of Mumbai. It lies on the western line of the Mumbai suburban railway with smooth connectivity to Navi Mumbai, Thane and Mumbai. Availability of a number of new housing projects on the verge of completion makes Mira Road an attractive destination for first-time home-buyers.
Situated on the Sion-Panvel Highway, Kharghar is as well-equipped with amenities as any other posh locality in Mumbai. It boasts its own 18-hole golf course, a central park, a concourse of malls apart from all other modern-day facilities. Kharghar’s popularity has grown remarkably in recent times due to its proximity to the proposed Navi Mumbai International Airport. With numerous promising housing projects under-way and robust existing infrastructure, Kharghar has many options for investors and home buyers.
Once considered as a distant offspring of Mumbai, Panvel-New Panvel has grown into a promising neighbourhood for those looking for accessible housing. Several infrastructure projects, improved connectivity by trains and buses along with the proposed international airport, have helped New Panvel emerge as a prominent housing destination for first-time home buyers.