Middle-class households that are seeking a property in Mumbai need not lose heart. Despite the city’s reputation as among the most expensive in the world, opportunities for homeownership are present for middle-income households within Mumbai. Mumbai, the city, with a population of more than 2 crores offers opportunities for homeownership to many who fall in the middle-income segment. It’s not uncommon today to find flatsfor sale in Mumbai that are priced between 20 to 75 lakhs.
Opportunities in regions such as Mira Road,
Virar, Kandivali East, and Nallasopara are plentiful for middle-income group households in Mumbai who
are eager to purchase a house in the city. Let’s see one by one what each of
these localities have to offer buyers.
Well
Connected Mira Road
Mira road is well connected to localities
such as Thane and Navi Mumbai via the Western Express Highway, Mumbai Suburban
Railway, and Ghodhbunder Road. The
connectivity that Mira Road enjoys with the mentioned regions has been driving
demand for housing here. Prices here average nearly 7,000 rupees per square
foot and end-users, as well as investors,
eagerly buy property here.
Up
and Coming Virar
Virar is well known as an up and coming
region that offers affordable properties
in Mumbai matching the requirements of middle-income
households. There is an upcoming metro link in Virar and the region also has an up to date social fabric. Because Virar
has water catchment provisions there is no shortage of water in Virar. At 4,500
rupees per square foot prices here are lower than they are at Mira Road.
Kandivali
East Gaining Ground
The price of property at Kandivali East is nearly thirty percent lower than that
in Goregaon and Malad. Additionally, Kandivali East and Malad are between 4 to
8 kilometres from Goregaon and Malad and hence the aura of exclusivity of the
two regions spills over to some extent to Kandivali East. Property rates in Mumbai at Kandivali are approximately 13,000
rupees per square foot, hence for 75 lakhs,
an MIG family may find a small house in
Kandivali East.
Truly
Affordable Nallasopara
Western Nallasopara is better built with
regards to infrastructure than is the eastern region of Nallasopara.
Nallasopara wins with respect to providing affordable housing to those eagerly
looking for such property in Mumbai
since properties here are available at a rate of 4,200 rupees per square foot.
