MMR Q3 2015: Rental Property Tracker
• For the third consecutive time in the year 2015, Goregaon East once again clocked first position based on availability. Accessibility to the Western Expressway and Bandra Kurla Complex (BKC) are two major reasons catalyzing rental demand here.
• Replacing Malad West, second slot was secured by Chembur. This is mainly because through the Eastern Freeway, the western suburbs and prominent office spaces of Bandra-Kurla Complex (BKC) and Lower Parel are easily accessible from here.
• Andheri East maintained its third position. Easy connectivity to the domestic and international airport and to commercial hubs like Bandra-Kurla Complex, Lower Parel and the eastern suburbs have made it a preferred rental destination.
• Powai, which secured fourth position, 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.
• Replacing Kandivali East, Kharghar occupied fifth slot. Located along the Sion-Panvel Highway, Kharghar is one of the most posh localities in Navi Mumbai, which also boasts of a18-hole golf course. Its proximity to areas such as Vashi, CBD Belapur, Mahape and the industrial hub Taloja makes it an ideal destination for people working in these locations.
• Interestingly, Powai and Andheri East also featured in the list of top 5 localities based on rental yield.
• Virar was the showstopper in terms of rental yield. Connectivity via Western Express Highway and Virar Railway Station coupled with robust social infrastructure has helped the area climb the realty growth ladder.
• Nalasopara East replaced Mira Road at fourth position, while last slot was retained by Malad West.
The purpose
1) Help the consumer to understand availability of rental properties in MMR.
2) Assist the consumer to understand the top markets for rental returns in the respective city. The data is taken from listings done by builders/ brokers/ individuals to rent out their properties through CommonFloor.com from Jul to Sept, 2015.
Disclaimer: The information provided in this Website is based on CommonFloor data which is collected from various publicly known sources viz, websites, documents and maps including CommonFloor’s proprietary data resources, and from the inputs of unidentified individuals. It ought to be considered as a guideline and not as absolutely certain. While care has been taken for groundwork, no responsibility is accepted for the accuracy of whole or any part. This information is absolute property of CommonFloor /maxHeap Technologies Private Limited. It should not be reproduced in any form, in part or whole, without prior written permission of CommonFloor. The information is provided on an “as is” and “as available” basis. CommonFloor expressly disclaim warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
