A survey conducted by a global consulting firm listed Mumbai as the most expensive city of India. It is referred to as the financial capital of the country and is known to be an exorbitant real estate and property market.
According to experts, the city is considered as the Mecca for people with big dreams. It has attracted a lot of migrants in recent years, which has led to space constraints and crowdedness in the city. Even though the city is planned vertically (rather than horizontally), certain residential areas are no less than gold in terms of property investment.
Here are some of the best areas to buy a residential property in Mumbai:
- South Mumbai
Also known as the Town, South Mumbai holds the posh and elite areas of Mumbai including Cuffe Parade, Altamount Road, Nepean Sea Road, and Malabar Hills. These are some of the exclusive and most expensive areas of the city to live in. They offer a luxurious lifestyle and a chance to neighbor with famous personalities. Since the property prices are sky-high in these areas, people may also consider renting options after consulting the best housing architects in Mumbai.
- Navi Mumbai
Navi Mumbai offers a lush green environment that makes it one of the best places to live in. It is a better location compared to the city’s major areas as it solves the problem of place crowdedness (to some extent). Since it is a planned township developed by the City and Industrial Development Corporation (CIDC), it is ideal for people looking for affordable housing options.
Andheri (east and west both) offer residential properties in almost all price ranges. While providing for all major facilities at lower prices and offering an efficient connectivity with local trains and metro alongwith the availability of shopping centers and malls, Andheri emerges as a sound residential property investment, as per some of the best architectural firms in Mumbai.
According to the top architectural firms in India, Powai has emerged as an employment hub and a lifestyle destination in recent years. It comprises of several renowned educational institutions like IIT Mumbai, and is equipped with a wide range of civic amenities, hospitals and marketplaces. With eastern and western express highways flanked on both sides, the area also provides an excellent road connectivity.
Goregaon is often regarded as the city’s hidden gem for real estate investment. It offers value for money in terms of property prices and is well connected to the western expressway and the link road.
Property buyers can also consult the best architects in Mumbai to explore options in various other areas of the city like Juhu, Worli, Chembur, Lower Parel and Bandra in order to get maximum return on their real estate investment.