Buying a property in Mumbai might be a dream for many home buyers, but with the skyrocketing prices, the realty market of the city seems to be catering to the affluent alone. Generous living spaces are now getting smaller and smaller thanks to the growing demand. However real estate developers are looking for pockets that offer land in large parcels where they could build residential projects that suit the budget and lifestyle of the MIGs (Middle Income Group Individuals). Below we attempt to locate neighbourhoods that offer affordable housing units that fall well within the budget of Rs 30 lakhs.
Kalyan West and Titawala
Cited to be one of the fastest developing neighbourhood- Titawala is governed under the KDMC (Kalyan Dombivli Municipal Corporation). Projects are underway that are ensuring the vicinity remains a preferred residential locality. Development along social and physical infrastructure and proximity to religious tourist destination is fuelling the realty demand here. Builders who have both local and national presence are purchasing properties in Mumbai in large tracts only to create residential capital venture. Most of the projects here are either ready to move in or are under construction and are likely to finish in the coming months. 1 BHK homes that spread over a carpet area of 600 square feet are likely to cost an average of Rs 2,400 per square feet. However, the prices are likely to vary depending on the facilities and specifications offered by the builder.
As far as Kalyan West is concerned it is one of the most wanted residential locality in the city of Mumbai thanks to its developing social infrastructure. Some of the factors that are flourishing the realty sector here are its seamless connectivity to other parts of the city including its neighbourhing states like Gujarat and growing social infrastructure. The presence of schools, healthcare facilities are inviting many to invest in flats in Mumbai. Apartment here are estimated to hover over a price bracket of Rs 27 lakhs and 32 lakhs.
Neral
Situated close the Sahyadri hills, the locality is very near Matheran and is cited to be one of the ideal destinations for investment. The growing commercial belt and the presence of many retail establishments and healthcare facilities are luring many to invest here. Developments along Badlapur too have seemed to have a positive effect on the realty sector of Neral. A barren property in Mumbai especially in an area like this is being taken over by builders to build extraordinary living spaces. Multistorey apartments here are estimated to hover over a price bracket of Rs 2,100 and Rs 2,450 per square feet depending on the amenities provided by the builder.
Shahapur
The region is fast blinking on the realty radar thanks to its huge land parcels. Its proximity to arterial roads like National Highway 3 and the Delhi Mumbai Industrial Corridor has enticed many home buyers to invest here. The modest budget homes here are attracting many small time investors and second time home buyers to purchase many inventories here. Flats in Mumbai especially in this area is occupied by skilled and unskilled professionals from the neighbouring industrial units. 1 BHK flats here are likely to hover over a range of Rs 13 lakhs and Rs 17 lakhs.
The modest budget homes here are attracting many small and big time investors. Locals too are now preferring investing in second homes here due to its high ROI Return on Investment. They are now giving away their invesntories on rent as homes here yield handsome rental returns. For instance a home that was purchased for Rs 17 lakhs is likely to generated a rent hovering anywhere between Rs 5,000 and Rs 6,500 per square feet-depending if the homes are semi of fully furnished.
So if you are looking towards making a realty investment that is light on your pocket but promises high ROI- purchasing a property in Mumbai in any of the above suburbs seems an ideal investment decision.
Kalyan West and Titawala
Cited to be one of the fastest developing neighbourhood- Titawala is governed under the KDMC (Kalyan Dombivli Municipal Corporation). Projects are underway that are ensuring the vicinity remains a preferred residential locality. Development along social and physical infrastructure and proximity to religious tourist destination is fuelling the realty demand here. Builders who have both local and national presence are purchasing properties in Mumbai in large tracts only to create residential capital venture. Most of the projects here are either ready to move in or are under construction and are likely to finish in the coming months. 1 BHK homes that spread over a carpet area of 600 square feet are likely to cost an average of Rs 2,400 per square feet. However, the prices are likely to vary depending on the facilities and specifications offered by the builder.
As far as Kalyan West is concerned it is one of the most wanted residential locality in the city of Mumbai thanks to its developing social infrastructure. Some of the factors that are flourishing the realty sector here are its seamless connectivity to other parts of the city including its neighbourhing states like Gujarat and growing social infrastructure. The presence of schools, healthcare facilities are inviting many to invest in flats in Mumbai. Apartment here are estimated to hover over a price bracket of Rs 27 lakhs and 32 lakhs.
Neral
Situated close the Sahyadri hills, the locality is very near Matheran and is cited to be one of the ideal destinations for investment. The growing commercial belt and the presence of many retail establishments and healthcare facilities are luring many to invest here. Developments along Badlapur too have seemed to have a positive effect on the realty sector of Neral. A barren property in Mumbai especially in an area like this is being taken over by builders to build extraordinary living spaces. Multistorey apartments here are estimated to hover over a price bracket of Rs 2,100 and Rs 2,450 per square feet depending on the amenities provided by the builder.
Shahapur
The region is fast blinking on the realty radar thanks to its huge land parcels. Its proximity to arterial roads like National Highway 3 and the Delhi Mumbai Industrial Corridor has enticed many home buyers to invest here. The modest budget homes here are attracting many small time investors and second time home buyers to purchase many inventories here. Flats in Mumbai especially in this area is occupied by skilled and unskilled professionals from the neighbouring industrial units. 1 BHK flats here are likely to hover over a range of Rs 13 lakhs and Rs 17 lakhs.
The modest budget homes here are attracting many small and big time investors. Locals too are now preferring investing in second homes here due to its high ROI Return on Investment. They are now giving away their invesntories on rent as homes here yield handsome rental returns. For instance a home that was purchased for Rs 17 lakhs is likely to generated a rent hovering anywhere between Rs 5,000 and Rs 6,500 per square feet-depending if the homes are semi of fully furnished.
So if you are looking towards making a realty investment that is light on your pocket but promises high ROI- purchasing a property in Mumbai in any of the above suburbs seems an ideal investment decision.
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