Good and Affordable Localities to Buy Residential Properties

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Good and Affordable Localities to Buy Residential
Properties in Mumbai
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Mumbai-the commercial capital of the country and
home to the Indian film industry, has always been
a preferred choice for buying, selling or renting
properties in India. It is recognized as an
IT/ITES hub and this has led to a thriving
demand for properties. Despite the skyrocketing
real estate prices, the city has something to
offer for every class of the society to invest in
real estate.Due to large scale urbanization in
the suburbs, Mumbai is expected to see very high
demand for residential space of approximately
16.40 lakh units. The mid-scale and affordable
housing in suburban and peripheral areas will be
the focus of this demand.The eastern suburban
areas of Navi Mumbai, like Kharghar, Airoli, CBD
Belapur, and Sanpada which have been getting a
lot of infrastructural developments,happen to be
good investment options. Rates in Navi Mumbai
range between Rs.3000 to Rs.5000 per sq ft.
While the North Western and Eastern suburbs
continue to be the preferred locations in
Mumbai, the demand has continued and there are
some new projects coming up in South Mumbai.
Also, Central Mumbai areas e.g. Wadala, Sion etc
are coming up with new residential ventures.Navi
Mumbai is getting the larger share of the pie, as
most of the real estate projects are coming up
here and the prices are affordable as compared to
Mumbai. Many options are still  available in
Mumbai, wherein you can afford to have an abode
of your own.  Lets have a look at a few of them
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Kurla- One of the major suburb of Mumbai, the
suburban railway station lies on the Central and
Harbour line. Lokmanya Tilak Terminus lies near
to the Kurla Suburban Station, which is a
terminus for out passenger/express trains. It
has its own railway junction and is 3.5 Kms away
from the domestic airport and 13.5-14kms from
Mumbai Central and Mumbai CST respectively. The
locality has got Engineering Colleges as well,
apart from lots of schools and various
other educational institutions. Borivali- The
Borivali suburban railway station is on the
Western Line. Located in the North-Western
Mumbai, it isone of the few places in the world
that has got a National park within the city
limits-The Sanjay Gandhi National Park.There are
a number of well known educational institutions
managed by the Franciscan Brothers. The very
famous amusement park, "Essel World" and
Asia's largest water park "Water Kingdom" are
located here. It is at a distance
of approximately 18 Km from the airport and 32 Km
from the Mumbai Central.Sion- The Sion suburban
railway station lies between Matunga and Kurla on
the Central line.  There are a few residential
projects coming up in this area. The Central
Labour Institute is nearby and other schools and
colleges are also there. Not only the local
trains, but also the Sion BEST bus depot connects
it well to other localities like Wadala, Dadar,
Antop Hill, Bandra etc. Vikhroli- This Mumbai
suburb has a railway station with the same name
on the Central line. Similar to many other areas
in Mumbai, it is divided by the railway line
between two parts, namely Vikhroli East and
Vikhroli West. There has been a proposal for a
bridge to be built over Thane creek to Kopar
Khairne, Navi Mumbai, the third linkage between
Navi Mumbai to Mumbai. It lies between the
Ghatkopar and Kanjurmarg Suburban Railway
Stations.
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Chembur- Located 22 Km to the North-East of
Churchgate, Chembur is located in the eastern
part of Mumbai. The Suburban Railway station of
Chembur is on the Harbour Line. Owing to its
central location, it is well connected via roads
to Navi Mumbai, Ghatkopar, Sion, Kurla, Mulund,
Mankhurd, Panvel and Thane. The NG Acharya Garden
or Diamond Garden, Sandu Garden and Pestom
Garden. are the major attractions of Chembur. It
is about 20 Km from the international airport and
18 Km from the CST railway station. Jogeshwari-
Jogeshwari Suburban Railway station lies on the
Western Line between Andheri and Goregaon.
Jogeshwari-Vikhroli Link Road or JVLR, as it is
popularly known connects it to the central suburb
of Vikhroli. The place is mostly inhabited by
Muslims and Maharashtrians. The suburb is named
after Goddess Jogeshwari. There are some earlier
caves in the eastern part of the region,dedicated
to Lord Shiva and Goddess Jogeshwari. There are
some of the well known schools and colleges in
the area. Ghatkopar- One of the richest suburbs
of the city, the place is filled with all kinds
of shopping centers, jewelers' shops, cloth
shops, eateries etc. It lies on the Central Line
of the suburban railway station, between
Vidyavihar and Vikhroli. North Bombay Welfare
Society High School (Ghatkopar West), Fatima
High School (in the border area with Vidyavihar),
Gurukul High School (Ghatkopar East), Garodia
High School (Garodia Nagar), Ramji Assar High
School (Ghatkopar East) area few private schools
in the area. For arts, Science,
Management, Engineering and Medicine streams, the
famous Somaiya family of colleges is here. In
addition, the suburb is served by at least three
Municipal schools. It lies 6 Km from the
international airport and about 18 and 16 Km from
CST and Mumbai Central respectively.
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Goregaon- It is a major suburban railway station
on the Western Line between Jogeshwari and Malad.
It is in the northern part of the city and is
easily accessible by buses, trains,
auto-rickshaws and taxis. Not only has it
housed the famous film studios Filmistaan and
Film City (in Goregaon East) but also the cinemas
like Anupam and Samrat. Goregaon West is known to
have most of the shopping centres of the
locality. The Western Express Highway and Linking
road lie on either side of the area. It is
primarily a middle class locality. Malad- It is
well known for Marve/Aksa/Erangal beaches where
the famous Raheja group hotels Resort/Retreat are
situated. It is on the Western Line of
the Suburban Railway between Goregaon and
Kandivali. There are a number of
shopping centres, markets, theaters etc in the
locality. Malad East has many popular housing
colonies like Raheja Township, Govind Nagar,
Mahindra Nagar and Pratap Nagar. Mahindra Nagar
is a clean and green society, which was nominated
as the second most pollution-free area in Mumbai
by Eureka Forbes after Aarey Colony
in Goregaon.The above localities offer a
lucrative option for real estate investments.
These are well developed and have a better
infrastructure in comparison to
the developing Navi Mumbai suburbs. Also, they
offer a cheaper rental as well as capital values,
when compared to the Mumbai's Golden triangle,
Malabar Hill,Breach Candy and Altamount Road and
other costly areas, where residential properties
sell in the range from 40000-62000 Rs/Sqft
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