Mira Road Becomes Most Anticipated Real Estate Hubs of Mumbai

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Mira Road Becomes Most Anticipated Real Estate Hubs of Mumbai

Mira Road Becomes Most Anticipated Real Estate Hubs of Mumbai

Being the part of Mumbai Metropolitan Region, Mira Road is positioned on the north of Mumbai. It has become one of the leading investment destinations in MMR. Mira Road is located on the western route of Mumbai suburban rail network and it enjoys close connectivity to Thane, Navi Mumbai and Mumbai. It is operated under Mira Bhyandar Municipal Corporation. Bhayandar and Mira Road have been developing frequently into residential suburbs as several manufacturing industries are closely located and Mira Road has great connectivity to Mumbai. A lot of developments have been done on the eastern part of railway line and the western part is well covered with salt pans and mangroves.

Naya Nagar, Lodha Complex and Shanti Nagar are some of the well known residential locations in Mira Road. On average, the apartments are priced around Rs. 7300 per sq. ft. in Mira Road. Despite the inferior investment sentiments in residential real estate, Mumbai has still managed to grow. A lot of infrastructure projects are planned to develop across MMR by the Maharashtra Government. These projects also include Coastal Road Project to extend from Kandivali to Nariman Point along with Navi Mumbai Airport and they have been driving the real estate prices in such areas.

The plans of state government to build Mumbai a gaming and animation hub will give huge impetus to employment creation and opportunity. It would lead to huge upsurge in housing demand. From April to June 2015, there was a significant drop in the number of individuals buying homes in Mumbai Metropolitan Region. Mumbai has always been the market where real estate prices have been appreciated well and they have witnessed the decline in the investment sentiment. Despite poor sentiments and sales, the housing prices have been unaffected. In fact, the properties are going unaffordable for most home buyers.

According to a recent research, a lot of homebuyers choose Navi Mumbai and western suburb to live in. A lot of prospective buyers are looking forward to see reduced housing prices. There are several home buyers settle in the range of Rs. 20 Lakh to Rs. 40 Lakhs.

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Residential Suburb Thane to Attract Modern Homebuyers

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Residential Suburb Thane to Attract Modern Homebuyers

Residential Suburb Thane to Attract Modern Homebuyers

With the availability of limited space for expansion, Mumbai has only few residential locations left that can meet the needs of urban homebuyers. On the flip side, Thane is one such suburb which has perfected the art of meeting the needs of modern homebuyers. Thane has realistic growth of property prices because of significant growth. In addition, Thane fulfills the needs of property buyers of all income groups, according to Nahar Group Vice Chairperson, Manju Yagnik. Thane already enjoys great social infrastructure. In addition, the government has planned more infrastructure developments to take place. Along with good connectivity and strategic location, Thane is the best option for modern property buyers.

When it comes to meet their needs, home buyers currently consider the environment when in order to buy a home. According to the experts, Thane has seen phenomenal growth over the past couple of years being a residential market. This way, people in Mumbai are urged to live in Thane while looking for homes which are reasonably priced, with more open spaces, lush greens and high end amenities. Modern home buyers travel around the world, are well-educated and enjoy disposable incomes. So, they are looking for properties which can match up their needs and standards and provide quality living.

Hence, Thane is a self-sustained suburb which is in sync with several homebuyers in different segments. The metropolis has a lot of mid-range projects along with luxurious projects to fulfill the needs of corporate heads, businessmen, HNIs and leading management executives, according to Executive Director, Godrej Properties Ltd, Mohit Malhotra. Thane has become the hottest favorite and affordable real estate market due to the consistent development in infrastructure. There are several factors contributing the huge interest of investors and homebuyers to buy property here. The presence of several multiplexes and malls like Korum, Viviana, Lake City Mall and Cinemax also attract homebuyers to this suburb. Several leading colleges and schools are located here along with clubs, amusement parks, resorts and restaurants for leisure and entertainment. Thane is selected under the smart city plan by the central government.

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Bharat Ecovistas Shil Phata Thane

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Shilphata to Drive Mumbai Real Estate Market

Maintained by the positive emotions by the new government, the real estate market in India is about to recover. As per the reports, Kalyan Dombivili is going to be biggest beneficiary on the Mumbai outskirts. Thane is another suburb where Shilphata is about to develop because of Kalyan Dombivili stretch under Mumbai Metropolitan Region and Kalyan Dombivili Municipal Corporation. This location is now seeing the new residential development at rapid pace. Developers operating in this place are Nirmal Lifestyle, Lodha Group, Raunak Group, Laxmi Versatile Housing, Bharat Ecovistas and Mehta Group. The real estate boom is recently seen in this stretch, particularly because of rising prices in suburbs of Mumbai.

For extending the metro rail in Navi Mumbai, a proposal has been given and the growth has been fueled in housing market from Kalyan to Dombivili. The grand industrial belt has been developed at the south-east of this twin city from Kalyan to Badlapur. Different large-scale and small industries have been developed in this location.  More local trains shall be planned from Thane to Dombivili and it will become more prominent MMR suburb. The population is being rising in this region and the demand for properties is being increasing over the past couple of years.

The MIDC (Maharashtra Industrial Development Corporation) has introduced a large industrial complex in Dombivili. Currently, Kalyan junction is among the large railway stations on central Mumbai Suburban railway network. It is the third busiest train station on suburban rail network, second being Andheri and first is Thane. The important factors responsible for the growth of real estate in these places are sky-scraping prices of properties and demand for affordable living. Mumbai keeps on attracting different outsiders who arrive here for growth and employment opportunities.

Because of this reason, affordable housing is more on demand. The capital values have made a big gap on supply and demand. In these places, projects are offered in affordable range. Industrial belts are another important factor increasing demand for real estate and enhanced infrastructure in this area. People can enjoy great job opportunities in these industrial belts.

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