Real Estate: Know the ideal location for best returns on property investment in Mumbai

Andheri East itself has transformed into a corporate hub and the Andheri-Malad region is gradually emerging as a new commercial district with a number of offices and hotels under construction.

Bandra to Malad, is witnessing traction in the high-end residential segment, Photo: Reuters

The western suburbs overall, spanning the area from Bandra to Malad, is witnessing traction in the high-end residential segment. It is interesting to note that the suburbs from Andheri to Malad account for nearly one-third of the entire high-rise launches witnessed in Mumbai last year. Amenities in these projects the high-end luxury segment, ranging from concierge services to preview theatres, ballrooms, home automation systems and sculpture gardens. The growing number of projects is a response to growth in demand.

Infrastructure is another key factor. Metro rail connectivity has helped and soon there will be more Metro links in the region. Proximity to the airport and the commercial hubs of SEEPZ, MIDC, etc and the proposed elevated rail corridor further enhance the attractiveness of the region.

Andheri East itself has transformed into a corporate hub and the Andheri-Malad region is gradually emerging as a new commercial district with a number of offices and hotels under construction.

TRENDING NOW

On the other hand, Andheri West already houses some of the biggest entertainment companies in the country like Balaji Telefilms, Yashraj Studios, Sahara TV, Big FM, etc. The suburb is connected well with major landmarks of Mumbai. As a result, there has always been a high demand for residential apartments in Andheri West, being one of the noted areas in Mumbai.

It is interesting to note that the suburbs from Andheri to Malad account for nearly one-third of the entire high-end launches witnessed in Mumbai last year. Amenities in these projects mirror the high-end luxury segment, ranging from concierge services to preview theatres, ballrooms, home automation systems and sculpture gardens. The growth in the number of projects here is a response to the rise in demand.

In fact, the state government have also given nod to come up with another metro line to connect Kanjurmarg with Lokhandwala Complex in Andheri West, which will snake through Jogeshwari-Vikhroli Link Road. Another route to have received clearance is Wadala-Ghatkopar-Thane-Kasarvadavli metro. There will be interchange stations at Jogeshwari Railway Station, WEH-JVLR Junction for metro, SEEPZ (for underground metro), Kanjurmarg (for Wadala-Ghatkopar-Thane Kasarvadavli metro and Kanjurmarg Railway Station).

Watch Zee Business Video here:

You should also know that there are maximum celebrities who already own a property in this micro market like Akshay Kumar, Jhonny Lever, Priyanka Chopra etc and the number is only increasing.

Commenting on the Andheri market, Sarojini Ahuja, VP - Sales and Marketing, Transcon Triumph said, “Being the hub of Bollywood and TV industry, Andheri real estate enjoys the maximum interest of top celebrities. This has resulted in Uber Luxury project launches with a bigger ticket size which is targeted to the marquee clientele like the HNI’s, industrialists, head honchos of blue-chip firms etc. who belong to the ‘creme-de-la-creme’ of society.”

TAGS:

Realty sector