41% Property Buyers Prefer Western Suburbs
According to latest consensus, about 41% home buyers in Mumbai prefer to buy properties in western suburbs of Mumbai. This includes areas of Borivali, Bandra, Andheri, Malad, Kandivali and Goregaon. The key factors for this sentiment are the region’s proximity to commercial destinations, accessibility to these destinations and cheaper property prices compared to South Mumbai.
CBDs, SBDs and PBDs
Mumbai has three types of business districts: The Central Business Districts (CBD), Secondary Business Districts (SBDs) and Peripheral Business Districts (PBDs). CBDs include Nariman Point, Ballard Estate, Cuffe Parade, Fort and Churchgate. The SBDs include Lower Parel, Prabhadevi, Worli, Kalina and Bandra Kurla Complex (BKC). PBDs include Malad-Goregaon, Andheri-Jogeshwari, Powai-LBS Marg and Thane-Navi Mumbai.
Most SBDs and PBDs are situated within the western suburbs and are well connected to the other CBDs, SBDs and PBDs that come under Central Mumbai, South Mumbai, Thane and Navi Mumbai. There are several important roads such as the Western Express Highway, Link Road and SV Road that connect the western suburbs to South Mumbai. There is also the Mumbai Suburban Railway network that connects these areas to other business districts. The Bandra-Worli Sea Link further reduces commuting time between the western suburbs and South Mumbai.
Property value
The second reason for the preference of western suburbs among Mumbaikars is the property values in these areas. Despite their high property value, western suburbs are cheaper compared to South Mumbai. For example, the capital value in Kandivali is between Rs. 13,000-13,600 per sq.ft and Rs. 13,300 per sq.ft in Borivali whereas, it is approximately Rs. 64,500 per sq.ft in Cuffe Parade and Rs. 66,000 per sq.ft in Malabar Hill. While being cheaper than South Mumbai, these areas also offer the status quo what many people long for.
Western suburbs offer several social amenities to people. There is an abundance of recreation and entertainment facilities such as malls, parks and restaurants in these areas. There are also many beautiful beaches especially near Malad. The region also has the Sanjay Gandhi National Park, which is a wild life reserve.
