Real Estate Trends in Jogeshwari

Jogeshwari is a western suburb in Mumbai. It has Andheri to the south, Goregaon to the east, and Malad and Borivali to the north. Jogeshwari is divided into western and eastern zones by the Jogeshwari railway station. The suburb is noted for its Shiva temple.

Connectivity and Accessibility

Jogeshwari is easily accessible from important highways. The National Highway (NH-8) passes through Jogeshwari (East). Jogeshwari is connected to the central suburbs through Vikhroli by the Jogeshwari-Vikhroli Link Road or (JVLR). The Jogeshwari railway station lies on the western line of the Mumbai suburban railway. Majas bus depot is one of the biggest bus depots in Mumbai and lies on JVLR in Majasgaon locality.

The Mumbai International Airport is less than 8 km from Jogeshwari and takes about 20 minutes to reach by road. The nearest metro station is the Azad Nagar metro station which is about 4.5 kms away. The nearest business center is Bandra Kurla Complex (BKC) which is at a distance of 11.5 km and can be reached in 20 minutes.

Amenities

Jogeshwari is a well developed suburb and has good social infrastructure. Educational institutions include schools and colleges such as Arvind Gandbhir High School, Jogeshwari Education Society’s Primary School, H K Institute of Management and Research, Jes College of Commerce Science and Technology. Hospitals such as Adarsh Hospital and Orbit Eye Hospital are present here. There are several religious places here. Jogeshwari is well known for the cave temples which are 1,500 years old and dedicated to the Hindu god Shiva.

Commercial establishments include institutions such as LIC Home Finance and banks such as Bank of Baroda, Indian Overseas Bank, State Bank of India and so on. There are also malls and movie theaters here.

Real Estate

Jogeshwari has both old style as well as new style residential buildings. Malcolm Baug and Saraswati Baug are two old colonies here. Malcolm Baug is situated in Jogeshwari (West) and has small bungalows belonging to Parsi community. Saraswati Baug is located in Jogeshwari (East) and was formed by Gaud Saraswat Brahmin community in early 1920s.

There are a few developers who are coming up with new projects in both the eastern and western zones. Some projects in Jogeshwari west are Rehyaan Terraces by Fairmount Constructions Pvt Ltd, Maredian Heights by Maredian Realtors Pvt Ltd and Universal Garden by Universal Group. Some upcoming projects in Jogeshwari east are Landmark by Nirman Realtors.

While Jogeshwari west has more demand for 1 and 2 BHK properties, Jogeshwari east sees a higher demand for 3 BHK properties. Also, Jogeshwari sees a high demand for apartments. In Jogeshwari east, typical covered area for a 1 BHK apartment is between 250 – 700 sq-ft, while for a 2 BHK apartment, it is between 860 – 1,475 sq-ft and for a 3 BHK apartment, it is between 1,180 – 1,570 sq-ft. In Jogeshwari west, the area of a 1 BHK apartment would be between 325 – 700 sq-ft, 700 – 1,000 sq-ft for 2 BHK apartment and up to 1,850 sq-ft for a 3 BHK apartment.

Property Trends

The rent for a 1 BHK property in Jogeshwari west ranges from Rs. 10,000 – 25,000 while the rent for a 2 BHK property is between Rs. 20,000 – 50,000. The rent for a 3 BHK property can go up to Rs. 85,000. In Jogeshwari east, the rent for a 1 BHK property ranges from Rs. 9,500 – 24,000 while the rent for a 2 BHK property is between Rs. 25,000 – 46,000. The rent for a 3 BHK property is between Rs. 40,000 – 85,000.

The last quarter saw a steady growth in demand for multistorey apartments in Jogeshawari west, while its eastern counterpart saw a small dip in demand. Capital value of apartments in the western zone is an average of Rs. 13,350 per sq-ft while in the eastern zone, it is Rs. 14,800 per sq-ft.