Bhandup West A Good Destination For Low Budget Houses
There are few areas in Mumbai that offer residential properties for a budget as low as Rs. 50-80 lakhs. Bhandup West is one area which is well connected and offers houses at such a low cost.
Location and approach
Bhandup is a suburb in Mumbai situated along the Eastern Express Highway. It is also one of the oldest suburbs in Mumbai located at a distance of 10-12 km from the western suburbs. It is also in the vicinity of expensive suburbs such as Powai and Vikhroli.
The central line of Mumbai suburban railway divides the suburb into eastern and western zones. The suburb has very good road network connecting it to various other areas in Mumbai. It is at close proximity to the Eastern Express Highway. LBS Marg is an important arterial road that passes through Bhandup West. There are several bus services such as BEST bus service and the state transport service which run regularly from this area to other areas. The Bhandup railway station lies on the central line of the Mumbai suburban railway network.
Business areas such as Andheri SEEPZ and Kensington SEZ in Powai are close by. SEEPZ is about 10 km from Bhandup West while the Powai SEZ is about 7 km from the area. The area itself is an industrial area having different companies such as Crompton Greaves, Asian Paints, CEAT Tyres and The Indian Smelting And Refining Company Ltd.
Social Amenities
Bhandup was once an industrial area. It is now rapidly becoming a residential area due to various social amenities. There are several schools and colleges here. Some of them are NES High School and Junior College, and NES’s Ratnam College of Arts, Science and Commerce. Apart from educational institutions, there are several malls being constructed. ‘Dreams the Mall’ is one of the biggest malls in Bhandup and is located on LBS Marg. There is also a garden on LBS Marg. There are several sports clubs and social organizations present in the area.
Real estate
The western zone of the suburb records the highest demand for 1,2 and 3 BHK units. It also sees a healthy supply of these units from developers. Several builders such as Neptune Group, Lodha Group, HDIL, Mahindra Lifespaces and Kalpataru Group already exist here. Most properties available in Bhandup West are 2 BHK properties of size 900-1,200 sq.ft. There is also a good supply of 1 BHK properties of size ranging between 600-700 sq.ft. The area of a 3 BHK property can go up to 1,500 sq.ft.
Property trends
A customer can buy a 1 BHK apartment here for price of Rs. 50-90 lakhs. A 2 BHK apartment costs around Rs. 80 lakhs-1.5 crore and a 3 BHK apartment costs between Rs. 1.5-1.75 crore. The rent for a 1 BHK apartment is between Rs. 15,000-20,000. The rent for a 2 BHK apartment is between Rs. 20,000-30,000 and the rent for a 3 BHK apartment is between Rs. 35,000-55,000.
Despite its proximity to expensive areas such as Powai and Vikhroli, and Eastern Express Highway. Property price in Powai is an average of Rs. 18,800 and is Rs. 14,200 per sq.ft in Vikhroli. The property prices in Bhandup West have seen a healthy appreciation in this area in the last year from an average of Rs. 11,100 to Rs. 12,800 per sq.ft.
