Mumbai attracts real estate investors and buyers around the country as well as abroad as being the financial capital of the nation. If you are interested in investing in flats in Chembur or buying 3 BHK flats in Mumbai, now it could be the perfect time whereas the rates are still affordable. The steadily reviving economy can finally result in price appreciation. As per industry specialists, last year’s economic slowdown has impacted the real estate market to the maximum extent possible.

Residential Choices in Kalyan

Kalyan offers a several housing options to suit the requirements of people with totally different budgets and demands of all segments. Due to the infrastructure and industrial development in the area, demand for residential properties is on the increase. The majority of those buyers are end-users, who belong to the high and middle class category and prefer residential properties such as 1, 2 and 3 BHK flats.

The cost of residential properties in Kalyan will range anyplace between Rs.10 lakhs to 1 crore. A 1 BHK unit with an area of 300-700 sq. ft. within the neighbourhood would fall in the price bracket of Rs. 10-40 lakhs, whereas a 2 BHK flat of 800-1,100 sq. ft. is priced between Rs.30-70 lakhs. A 1,400-1,600 sq. ft. 3 BHK apartments will price anywhere between Rs. 60 lakhs to 1 crore.

According to real estate experts, the growing provide in the locality is a sign of the increasing demand and its future prospects. Compared to different places in the city, Kalyan offers reasonable property choices. Also compared to Navi Mumbai and Thane, the locale has the superb social infrastructure to its credit. Enhanced road connectivity and rail are the other plus points.

Currently the Kalyan railway station is being renovated to ease the pressure on Chhatrapati Shivaji Terminus. Proposed developments include 4 lane expressway and two monorails. The commercial sector too is busy launching financial and industrial units in the area. The pace at that Kalyan is progressing, property rates are bound to rise in the future.

Other Real Estate Choices

Ulwe is another upcoming region in the metropolitan. With two Special Economic Zones, the area’s real estate market is predicted to understand in an exceedingly huge approach. As a major part of Ulwe is still undergoing construction and property rates are very low as compared to other locations in Mumbai. Once the development process is complete and all connectivity is improved, buyers who invested early on will definitely enjoy more returns in the next 6-8 years.

According to a popular property portal, the common capital value at this time falls between the range of Rs. 4,700-5,700 sq. ft. While 1 BHK units of size 350-700 sq. ft. are priced between Rs. 17-45 lakhs, a 2 BHK property of 850-1,500 sq. ft. will be bought for Rs. 40-80 lakhs. The scale of a 3 BHK flat worth Rs. 70 lakhs to 1 crore could be approximately 1,400-1,700 sq. ft. At present, Ulwe’s realty market is attracted mainly by investors from Mumbai, Navi Mumbai and also Pune.

Shruti Decosta is a real estate blogger who loves to write about upcoming residential projects in Mumbai, Pune, Nashik.