Infra Development Driving Central Mumbai’s Realty
Jitrendra Shah, CEO, Rockford Group explains the reasons for Kurla, Sion, and Wadala being the best investment bets in the Central Suburbs of Mumbai. Post pandemic the buying behavior of majority home buyers in Mumbai has changed. People have become more budget centric and are preferring locations with proximity to their workplaces. Therefore, locations such as Kurla, Sion, and Wadala are amongst the best investment bets in the Central Suburbs of Mumbai due to several reasons which include excellent connectivity and high levels of commercial activity. The major buying aptitude is because of the seamless connectivity and good overall amenities these locations provide. Kurla and other central locations have emerged as the prominent real estate residential markets in the city within a span of a few years. With its proximity to BKC, the location has become the most preferred option for investors and middle-aged income class groups. The large-scale industrial activity has given way to residential and commercial developments in this region and is considered a well-developed residential-cum-commercial micro-market in Mumbai, with seamless connectivity to different parts of the city via roads, railways, etc. There is an array of affordable range of properties for the buyers especially, the working professional as they prefer such convenient central locations to reduce the times of travel to work. There are traffic jams, but not as they used to be as the roads have been widened making it a great location for anyone looking to find a reasonable 2 BHK or 3 BHK flat on rent/lease and going forward, once the Metro passes through here, this location will be one of the most competitively priced locations in Eastern Suburbs with good proximity to BKC and Andheri East making it a great space for commercial offices and shops looking to rent. The Eastern Freeway, Santacruz-Chembur Link Road and Metro rail network gave a booster to this locality in the form of connectivity with South Mumbai and Western suburbs. The area has good road connectivity with other important addresses such as Thane, Andheri East, BKC and Navi Mumbai. The location provides its residents with all kinds of social amenities to live a happy and peaceful life. They include various schools and hospitals. Apart from these it also provides the luxury of enjoying recreational amenities and proximity to various shopping streets like Gandhi Market, Sion Koliwada along with one of the biggest malls Phoenix Market City. As per a report by Liasas Foras, YoY Sales in Q1 21-22 increased maximum in Central Suburb by 227% where 1759 units were sold as compared to 538 units sold in Q1 20-21. The area has grown into a very convenient neighborhood, considering the easy living conditions and many job opportunities that it provides its residents with. Presence of commercial hubs in and around the locality, make it a preferred working as well as a residential destination of Mumbai.
Tags : Interviews Mumbai Investment homebuyers Workplaces Rockford Group Central Suburbs Residential Markets Commercial Hubs