The changing landscape of the Mumbai Metropolitan Region (MMR) has ensured the rise of prime residential hotspots and one such area that has undergone transformation in terms of infrastructure development over the years and emerged as a great investment avenue is the north corridor of Mumbai’s western suburbs. A spurt in demand of residential projects from Malad to Dahisar has garnered increased enquiries from homebuyers due to excellent social infrastructure and improved connectivity, according to realty experts.
Commenting on the said subject, Bhushan Nemlekar, Director, Sumit Woods Ltd. said, "This belt in the Western suburbs fulfills the expectations of homebuyers of all categories with its wide range of options for residential properties. The area is all set to witness more developments for providing a world-class living experience for its citizens. The property prices too are expected to increase once the Metro connectivity commences. The investors too are looking up to this booming marketplace for safeguarding healthy returns."
With the implementation of number of infrastructure projects across the MMR and since the Metro Line 2A (Dahisar to DN Nagar, Andheri) and Line 7 (Dahisar East to Andheri East) will be commissioned this year, the western suburbs will witness improvement in connectivity. Besides, the upcoming Coastal Road planned between Nariman Point and Kandivali along with the Metro connectivity is touted to enhance the connectivity nexus and real estate prospects, the real estate experts asserted. Bhasker Jain, Head Sales, Marketing & CRM, The Wadhwa Group says, "The area has witnessed rapid development in the last two decades both in terms of residential growth and population. This is fairly evident with several large residential pockets coming up in recent years. The north corridor of the western suburbs has drastically evolved with the help of infrastructure reforms and demand driven by the homebuyers. The upcoming Metro lines and the easy access to the Western Express Highway will be going to be a game-changer for this location in terms of driving demand. Also, its proximity to commercial centres and the upsurge in new projects with modern lifestyles & amenities continues to generate interest amongst the prospective residential buyers."
Over the years, the belt has witnessed rapid development. Although affordability highlights the residential market of this region, the demand for premium housing has also seen an upsurge in recent years. Also, it is noticed that many corporates have moved towards the suburbs to places like Bandra, Andheri, Goregaon, Malad, etc. Therefore the extended western suburb stretch is quickly becoming a sought-after place for employees to shift base too. High-rise apartments and integrated townships are growing in large numbers. Thus, house buyers of Mumbai in search of spacious house have found an alternative destination in this pocket of MMR, believes experts.
Himanshu Jain – VP-Sales, Marketing & CRM, Satellite Developers Private Limited said, "The western suburb of Mumbai is becoming an epicenter of realty transactions, both for end-users and investors. Called as the suburb with innumerable opportunities, it boasts everything from connectivity to social infrastructure to an urban lifestyle that is driving both end-users and the developers equally to it."
More builders are now catering to the rising demand in the region and spurting the growth and increasing the buying options for buyers.