Looking for a Resale Property? Try Andheri East!

Andheri East has become one of the most sought after real estate destinations in Mumbai in recent times. Be it for purchase or rentals, the area has always grabbed the attention of the middle and higher income groups. While there are a plethora of reasons for its growing popularity, connectivity and proximity to key business hubs have significantly helped it score positive on the realty graph.

The area has witnessed a growth in apartment project launches in the last few years. But did you know that Andheri East also has several resale properties up for grab? If you are someone looking for immediate possession, these properties can be a best bet for you.

Here is a snapshot.

Available Property Type: While most of the residential units being launched are multi-storey apartments, the area offers a good number of independent houses for resale. As per CommonFloor research, almost 10 per cent of the units available for resale are independent houses.

BHK Configuration: Most of the available units for resale are 1 and 2BHK units. One may also find a few 3BHK units.

Age of the Property: Some of the 1 and 2BHK units are as old as 35-45 years. There are a few 3BHK units as old as 50 years. However, the average age of a 1BHK unit is about 14 years, while that of a 2BHK unit is about 10 years. The average age of a 3BHK unit is about 12 years. Higher configurations such as 4BHK units have come about only within the last 10 years.

Price: The average resale price, which also identifies the market value of a property in the area, is about Rs 19,450 per sq. ft. The following table gives the characteristics of residential units available for resale.

Table: Characteristics of different BHK types for resale