Content Analyst at Investors Clinic
Mumbai, the capital city of Maharashtra and the city of dreams for many has pushed the limits to create more residential localities. Thus, there are various housing properties on the outskirts and here we let you know the best residential localities in Mumbai Peripheral region. So, scroll the page down and read more.
Ghodbunder Road : A decade back, this was a commercial market in Thane but the developed and developing infrastructure here has brought many developers in Ghodbunder and thus today this has become a preferred residential destination in the city. This is an important area in Thane along the Eastern Express Highway that connects to the Western Express Highway in Bhayander. Ghodbunder offers easy connectivity to North Mumbai and a tram system on this route is also proposed.
The recently built Patlipada flyover has also eased vehicular congestion on the Hiranandani Estate Road. The cost of a residential apartment in Ghodbunder ranges between Rs. 8,330 – 10,242/sq. ft. The average monthly rental for 1/2/3BHk unit falls under s. 11,554 – 15,070, Rs. 16,600 – 22,134 and Rs. 24,508 – 31,510 respectively.
Mira Road : Located in North Mumbai, Mira road has an array of residential projects and the smooth infrastructure like rail and road transport has made it a preferred living locality in Mumbai. Situated in thane this area falls under the jurisdiction of Mira-Bhayander locality. The availability of multiple residential projects under affordable segment in Mira road, Mumbai attracts property investors mainly and they also include the Non-Resident Indians [NRIs]. Apart from this, the work on metro line here is also going on and is estimated to be completed in 6-7 years.
The cost of an independent residential unit here ranges between Rs. 6,842 – 8,330/sq. ft.
Kalyan-Dombivali : This twin locality is one of the proposed smart city projects in the state and falls in Thane. The lower property rates and good railway network for commutation upto various commercial areas make it to the list of best property investment destinations in Mumbai. The upcoming Airoli-Kalyan elevated corridor via Parsik Hill, as well as the proposed Taloja-Kalyan metro rail, the 126-km Virar-Alibaug Multi-modal Corridor, Navi Mumbai International Airport, JNPT, Mumbai Trans-Harbour Link and dedicated freight corridors will change the face of reality here.
A residential flat in Kalyan East starts from Rs. 4,675 and the same in Kalyan West has a starting price of Rs. Rs. 5,398. Similarly, the unit cost of a residential apartment in Dombivali East is between Rs. 5,100 – 5,865/sq. ft. and the same in Dombivali West start at Rs. Rs. 5,185 per sq.ft.
Thane : Thane is now extended to Upper Thane and this offers smooth connectivity to various areas. The development of six-lane Mumbai-Nashik Highway, the upcoming Thane-Kalyan metro line, the Dombivali bridge and the Thane-Vasai Inland Waterway will curb vehicular congestion and thus residents here will find seamless travel to commercial places like Thane, Airoli and Ghansoli. All these areas have offices of various MNCs such as TCS, Deloitte, Voltas and Blue Star and thus professionals seek property purchase close to these localities.
The cost of a residential flat in Thane East and West falls between Rs. 9,988 – 11,985/sq. ft. and Rs. 8,882 – 10,838/sq. ft. respectively.
Taloja : Located on NH 4, the MIDC corridor and MMRDA are working rigorously to offer better residential and commercial spaces here. This is a strategically good locality for property investment in Mumbai as Taloja offers proximity to Mumbai-Goa highway, NH-4 and the Mumbai-Pune Expressway. This locality is only 10 minutes away from the proposed Navi Mumbai airport and the Taloja Panchanand railway station connects the Harbour, Central and Western railway lines.
The average cost of a residential flat in Taloja is between Rs. 4,548 – 5,185/sq. ft. and the cost of the same in Taloja Panchanand starts from Rs. 4,845 per sq.ft.
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