- Dominates the supply of new residential units in Q2 FY22
The demand for residential units in Mumbai and the Mumbai Metropolitan Region is on an upswing for the second straight quarter of FY 22. The second quarter of 2022 saw as many as 20,000-plus new residential units being launched across the region. Mumbai alone saw a quarterly rise of 5 per cent in terms of new launches, indicating a positive upward trajectory for demand of new units in the bustling metropolis.
Commenting on the advantage of this suburb, Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers said, “This suburban area is known for its seamless connectivity and the ever transforming infrastructure. Today, it is connected to every city corner, reducing travel time through most modern infrastructure projects in Mumbai. Further, the Metro and GMLR will ease and enhance the connectivity to almost all parts of the city. The location especially towards the Mulund end provides panoramic vistas of the hills with enchanting green surroundings as it is located on the foothills of one of the largest urban reserve forests in the world. Also, housing the city’s finest healthcare and educational institutions, the suburb has become one of the most preferred locations for residential, commercial and recreational spaces.”
Considering the overall real estate trends in Mumbai and factoring in affordability, infrastructure and connectivity, the central suburb offers good returns on investment and is likely to see rapid growth in real estate development in the future.