Mumbai is witnessing a considerable infrastructural boom that will change the façade of the city and fuel a deluge of real estate possibilities. According to the latest Knight Frank India’s assessment, in the month of August 2022 the property market in Mumbai witnessed property sale registrations of 8149 units. Western suburbs’ share in the total registrations in August 2022 rose from 56 per cent in July to 57 per cent.
In the western suburbs, the Andheri to Malad corridor is vastly conquered by high-rise buildings and one such location that is largely preferred by homebuyers and investors alike. This region is the macro market which has been witnessing a significant increase in the average value of units sold.
Commenting on the prominence of this belt Mr. Umesh Jandial, Head – Sales & CRM, Omkar Realtors said, “The Andheri to Malad belt sits on land of comforts and conveniences and therefore it is the most preferred choice of the modern homebuyers. This belt as a micro market is holding strong on rental yield and ROI factor. Projects offering ease of commute to business districts and BKC from this location are witnessing premium quotient and strong demand. The location is also in close proximity to Western Express Highway, Metro lines, upcoming Coastal Road along with excellent connectivity to the airport; it provides easy accessibility to various parts of the city. The region also enjoys an established social infrastructure with schools, hospitals and other lifestyle avenues. Located close to the lush greens of the Sanjay Gandhi National Park, it offers you an enhanced living experience.”
The corridor is seamlessly connected to the CBDs of Andheri, BKC via the western express highway as well as to the upmarket areas of Powai and Vikhroli through the Jogeshwari-Vikhroli Link Road. Currently, Jogeshwari Vikhroli Link Road (JVLR) is the key link that connects the eastern & western suburbs of Mumbai. Soon there will be another link in the form of Goregaon Mulund Link Road which will ease the east-west connectivity and traffic congestion on JVLR. Hence, the highway-netizens, mainly the business community, are tremendously saving on their travel time.
Commenting about the real estate growth in the area, Mr. Himanshu Jain, VP – Sales, Marketing & CRM, Satellite Developers Pvt. Ltd. said, “The region offers the homebuyers with a mix of affordable as well as luxurious properties. The region is one of the most upcoming and prominent residential and commercial hubs that most property buyers are now moving towards. The suburb has seen growth in not just residential development but also in commercial development with few corporates choosing it as their new headquarters which is the foremost reason it has witnessed a realty boom in the last few years. Also, owning a house near to the workplace is a dream for the homebuyers especially millennials due to the hustle of traffic. Therefore due to the commercial advantage, many developers are coming up with projects in this region that intend to reduce the office travelling to zilch. Nowadays, homebuyers too prefer to stay in studio apartments or compact homes if it is in the vicinity of their respective workspace which also allows them to spend quality time with their family.”
Describing the transformation of the region, Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers said, “The Andheri to Malad belt is one of Mumbai’s popular suburbs that enjoy excellent connectivity and a robust social infrastructure. The suburbs’ skyline has completely transformed with several high-rises that offer stunning views of the natural and splendid surroundings in the region. The location also enjoys excellent connectivity to Bandra-Worli Sea Link, Western Express Highway along with both domestic and international airports. With innumerable infrastructural developments like the Metro rail, GMLR and the coastal road in progress, it is definitely emerging as a prominent realty destination.”
Together with the fast-paced developments in the area and the privileged living, all these unique facets make Andheri-Malad one of the most attractive stretches to live in the western suburbs of Mumbai.