Booming Realty Suburbs of Mumbai—Kandivali and Borivali
The Mumbai Property Market still promises an upswing despite an economic slump. The following article gives a clear picture of the Mumbai Real estate with special reference to two neighborhoods.
Introduction
Mumbai, the largest Indian city is also the commercial and entertainment capital of the country. One of the richest cities in India, Mumbai contributes more than 5% to the country’s GDP. Bustling with a huge population, land is a scarcity in this city. Over the years, the land prices is the city has skyrocketed and finding a free space within the city limits is a huge challenge.
However, despite such limitations, the real estate market of the city has been booming with exceptional results. Following a rapid expansion, the realty market of the city has almost reached a level of saturation. However, certain pockets within the city also
Some of the areas where one can still find new properties or resale properties happen to be Borivali East, Andheri East and West, and Kandivali. Let us focus on two major localities.
Kandivali
One of the oldest neighbourhoods of the city, the real estate market of Kandivali has some worthy deals to offer when it comes to real estate market. As a neighbourhood, people can not only invest in a property in Kandivali East but also find resale and new properties. Builders and end-users can invest in both residential and commercial properties within the city.
From a makeshift Parsi dwelling of the early 20th century, the area today has developed into a bustling suburb. The latter half of the last century saw the real estate booming at rapid pace, with high-rise buildings coming up. This was further accentuated by the expansion of the social infrastructures. Schools, colleges, hospitals began to be constructed.
Presently, kandivali has a number of multiplexes, shopping complexes and a few flyovers. Various modes of transport ensure a proper connectivity of the area with the rest of the city. The Sahar International Airport is a few kilometers away from the neighbourhood of Kandivali. Once a stronghold of entrepreneurial communities like Gujaratis and Marwaris, today the region boasts of a cosmopolitan outlook.
Once the Western Expressway was connected with the area, the real estate market has witnessed a boom. The commercial segment has largely benefitted from this. The average price band for a commercial property in Kandivali ranges between INR 20000 to INR 30000 per square feet.
Residential property market is not far behind. An end-user will have to fish out somewhere between INR 10000 to INR 15000 per square feet. Recently, the rentals in the area have also gone up. A 2BHK or a 3BHK flat on rent in Kandivali will come at cost INR 15000 to INR 20000 per month.
Borivali
The suburb of Borivali is well known for the Sanjay Gandhi National Park. A little aloof from the hustle bustle of the concrete jungle, Borivali has turned out to be one of the most favoured residential realty destinations of the city. A prominent junction along the western line, Borivali has a bust stand that connects the locality to all the major parts of the city. Some of the notable areas of Borivali comprise Ashok Nagar, Govind Nagar, IC Colony and Eksaar. These areas have some of the best residential properties. Builders intend to capitalize on the potentialities of this area. Thus today, we can find some promising residential complexes being built in this area. One unique aspect that has popularized residential properties within the area is that, some apartments offer a view of the national park. The closeness of such verdure around has lured many end-users to book an apartment within the housing societies of Borivali.
Moreover, the price band of a residential property in Borivali East falls under the affordable range that makes it all the more possible for buyers to search for housing projects within the area.
Social infrastructure within the area is being developed by the state government. Borivali is already home to a dozen of schools, colleges and hospitals.
Borivali promises a good connectivity to the rest of the city. The Borivali Railway Station is major junction and also serves as a final limit for express trains. In future the Rajdhani Express will soon halt at Borivali.
Keeping in mind the current state of the above-mentioned localities, it can be said that the Mumbai realty market is expected to grow. In spite of an economic slump, the rates of the property market in Mumbai are expected to remain unaffected.
Author: Sampurna Majumder is a professional writer and a passionate blogger. Currently she is writing content for several websites including 99acres.com that cover latest trends related to real estate market such as properties in Mumbai and other Indian cities.
Introduction
Mumbai, the largest Indian city is also the commercial and entertainment capital of the country. One of the richest cities in India, Mumbai contributes more than 5% to the country’s GDP. Bustling with a huge population, land is a scarcity in this city. Over the years, the land prices is the city has skyrocketed and finding a free space within the city limits is a huge challenge.
However, despite such limitations, the real estate market of the city has been booming with exceptional results. Following a rapid expansion, the realty market of the city has almost reached a level of saturation. However, certain pockets within the city also
Some of the areas where one can still find new properties or resale properties happen to be Borivali East, Andheri East and West, and Kandivali. Let us focus on two major localities.
Kandivali
One of the oldest neighbourhoods of the city, the real estate market of Kandivali has some worthy deals to offer when it comes to real estate market. As a neighbourhood, people can not only invest in a property in Kandivali East but also find resale and new properties. Builders and end-users can invest in both residential and commercial properties within the city.
From a makeshift Parsi dwelling of the early 20th century, the area today has developed into a bustling suburb. The latter half of the last century saw the real estate booming at rapid pace, with high-rise buildings coming up. This was further accentuated by the expansion of the social infrastructures. Schools, colleges, hospitals began to be constructed.
Presently, kandivali has a number of multiplexes, shopping complexes and a few flyovers. Various modes of transport ensure a proper connectivity of the area with the rest of the city. The Sahar International Airport is a few kilometers away from the neighbourhood of Kandivali. Once a stronghold of entrepreneurial communities like Gujaratis and Marwaris, today the region boasts of a cosmopolitan outlook.
Once the Western Expressway was connected with the area, the real estate market has witnessed a boom. The commercial segment has largely benefitted from this. The average price band for a commercial property in Kandivali ranges between INR 20000 to INR 30000 per square feet.
Residential property market is not far behind. An end-user will have to fish out somewhere between INR 10000 to INR 15000 per square feet. Recently, the rentals in the area have also gone up. A 2BHK or a 3BHK flat on rent in Kandivali will come at cost INR 15000 to INR 20000 per month.
Borivali
The suburb of Borivali is well known for the Sanjay Gandhi National Park. A little aloof from the hustle bustle of the concrete jungle, Borivali has turned out to be one of the most favoured residential realty destinations of the city. A prominent junction along the western line, Borivali has a bust stand that connects the locality to all the major parts of the city. Some of the notable areas of Borivali comprise Ashok Nagar, Govind Nagar, IC Colony and Eksaar. These areas have some of the best residential properties. Builders intend to capitalize on the potentialities of this area. Thus today, we can find some promising residential complexes being built in this area. One unique aspect that has popularized residential properties within the area is that, some apartments offer a view of the national park. The closeness of such verdure around has lured many end-users to book an apartment within the housing societies of Borivali.
Moreover, the price band of a residential property in Borivali East falls under the affordable range that makes it all the more possible for buyers to search for housing projects within the area.
Social infrastructure within the area is being developed by the state government. Borivali is already home to a dozen of schools, colleges and hospitals.
Borivali promises a good connectivity to the rest of the city. The Borivali Railway Station is major junction and also serves as a final limit for express trains. In future the Rajdhani Express will soon halt at Borivali.
Keeping in mind the current state of the above-mentioned localities, it can be said that the Mumbai realty market is expected to grow. In spite of an economic slump, the rates of the property market in Mumbai are expected to remain unaffected.
Author: Sampurna Majumder is a professional writer and a passionate blogger. Currently she is writing content for several websites including 99acres.com that cover latest trends related to real estate market such as properties in Mumbai and other Indian cities.
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