Developers Offering Several Residential Projects in Chembur

Demand, growth prospects and price are top three factors that drive the pattern for property investment in Mumbai. Considering these factors, Chembur has emerged as a favorite destination for property buyers. It is the central suburb, connecting Navi Mumbai with central Mumbai. This location is also in close proximity to Eastern and Western Express Highways that have made it easy for Chembur residents to reach BKC and other business districts easily.

Developers are launching various residential projects in Chembur, catering to the demands of buyers who are looking for stylish yet affordable options in Mumbai. Apart from greenery, infrastructure development in this part of the city has pushed the demand for realty. Not just developers but real estate agents in Chembur are also making good money, helping people buy, sell or rent flats.

Why Choose Chembur for Property Investment?

Connectivity is the main reason why this area is witnessing growing demand for real estate. Chembur-Wadala monorail, Santacruz-Chembur link road and Eastern Freeway have made it easy for residents of this suburb to reach prime office locations in the city.

Apart from exciting property options, this area also offers social infrastructure including restaurants, malls, educational institutions and hospitals. It is also considered to be one of the greenest suburbs in Mumbai.

Property rates in this region range between 16,800 and 17,500 INR per square feet. It remains an important hotspot for property investment with annualized price appreciation between 15-18%. When considering areas within the Municipal limits of Mumbai, certain pockets of this suburb hold great potential for growth in the coming years.

Property rates in Chembur and Wadala were pumped up by more than 100% in a span of four to five years. Irrespective of the downturn, the announcement of Monorail project helped in boosting the demand and rates for Chembur properties. Construction of SCLR has also benefitted this suburb to a great extent.

Property Market in Mumbai- What to Expect?

The central government has been showing interest in development of real estate projects in Mumbai as it understands that the realty sector has the potential to push the growth of other sectors through job creation.

The international airport project in Panvel, bullet train project connecting Ahmadabad and Mumbai and Trans-Harbor Link, linking Sewri and Nhava Sheva are some of the projects that the government will be pushing forward. Projects such as the international airport and trans-harbour link will help boost the property market in Mumbai. It will not only help in solving the problem of Mumbai traffic but also make large plots available for real estate development across Navi Mumbai.

The state government plans to widen the Mumbai-Goa Highway into a four-lane highway. It also plans to further develop the Mumbai-Pune expressway. This will help in boosting the realty market in Navi Mumbai and nearby areas. According to the industry experts, value of commercial and residential projects in the city is expected to reach new heights very soon. Property values will also appreciate in the near future.

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