MMR Q2 2015: Rental Property Tracker
Salient Features:
- Out of the Top 5 rental localities in MMR, based on availability, four micro-markets are spread across western suburbs while one is in the central part.
- The western suburbs of Goregaon East, Malad West, Andheri East and Kandivali are seeing high rental demand from people working in neighbouring office spaces at Bandra Kurla Complex (BKC) and SEEPZ SEZ.
- Powai, the central suburb, is mainly seeing demand from those working at Kensignton SEZ which houses several IT/ITeS companies and other business establishments. Powai also has the popular IIT Mumbai. And off late, the area is also being considered a hub for several start-ups such as MoFirst, Saukk.com, Instamojo, NAV Capital, to name a few.
- As for the top markets in gross rental yield, four out of the top five areas are the same as those based on rental availability. Only Kandivali East from the list, based on rental availability, has been replaced by Mira Road.
- Mira Road is considered to be an affordable destination. Situated in north western region and part of Mira Bhayandar, Mira Road is very well connected to the key business hubs of BKC and SEEPZ via the western express highway (WEH). As result, there is a good rental demand.
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