Unless one is living under a rock, we all know the sky high property prices in Mumbai. It is impossible for the working middle class citizen, with a single source of Income to buy a property in this city. So if you are intrigued about investing in real estate Mumbai, then suburbs and other peripheries are the way to go.
Where Can One Buy Cheaper Properties in Mumbai?
These places are way cheaper than Mumbai. Properties can be bought for 20lakhs and above here. There are lots of positives to moving into a suburb. Most of the complexes come loaded with modern amenities like pools, gyms, jogging tracks, parks, clubs etc. Apart from that there is less pollution in these areas.
Low population, more greenery, clean air- all these factors contribute towards a good quality of life. When buying in suburbs make sure these areas have good connectivity, uninterrupted supply of all basic amenities like water and electricity, and proper sewage systems.
If you are looking to buy a property in Mumbai here is a list of places outside Mumbai that are in demand. This will help you in your search.
Mira Road- this area is easily accessible by the Western Railway track in Mumbai. Apart from that the housing is modest and affordable for the common man. The steady development of this area in the last couple of years has led more and more reputed developers to take interest here. It’s main plus points are its connectivity as well as its closeness to the Western Express Highway and other area of Navi Mumbai. The starting price for houses in this area is 30lakhs and all options like 1bhk, 2bhk, 3bhk are available.
Vasai- Vasai suburb is further than Mira road, and is another affordable housing located in the West of Mumbai. The houses constructed here are larger and more spacious. There is a huge demand for villas in this area. A private garden and a car park are also provided. Villas here start from 35lakhs and go up to a Crore. The price of a villa here is the same as the price of an apartment in a prime location in Mumbai; in fact even cheaper sometimes. If you are looking for a luxurious apartment, laid back lifestyle, in such close proximity to Mumbai, this is a good bet. Looking at the rate of development here, it’s predicted that Vasai will be a metropolitan city is the future.
Nalasopara- Even though it is roughly 50 kms from Mumbai, it is very well connected to Mumbai via trains. And a journey in a fast train will take you maximum of up to an hour. Property prices are cheap here. Like all places in Mumbai, Nalasopara too is divided into East and West. It is better to buy flats in the West here as the West is more developed in comparison to the East. However before putting money on the table, be sure to check for the builder’s credibility and also make sure the construction is legal. Off late there were cases of flats being demolished because of illegal construction.
Kalyan – Dombilvli– These areas too are in huge demand off late, owing to the huge gap of demand and supply of affordable housing in Mumbai. Both these areas have huge industries coming up and this industrial belt extends up to Belapur. The houses are affordable in this area. These areas are also well connected to via roadways and railways. There is a lack of civic infrastructure here, but with time these things are also coming up. Malls, hospitals, educational institutions and various sources of entertainment are essential if a city is to develop.