Andheri East Proves An Attactive Proposition For Potential Buyers

Mumbai is no doubt an expensive city to live. It becomes more difficult to find a property in Southern Mumbai and certain western suburbs such as Bandra and Juhu where property prices touch the sky. However, amidst these expensive areas in Mumbai, Andheri East is proving to be an attractive proposition for potential home buyers due to its facilities and price advantage.

Geography

Andheri is a western suburb with Juhu to its south, Goregaon to its north, Powai to its east and the Arabian Sea to its left. It also lies on the western line of the Mumbai Suburban railway network. This divides Andheri into eastern and western zones. While Andheri West is more upmarket, Andheri East is more popular with the middle class population.

Access and Transportation

One of the reasons Andheri East is becoming attractive is due to its accessibility from different areas. It is very well connected to the western express highway which offers excellent connectivity to major commercial hubs and the eastern suburbs. SV Road (Swami Vivekananda Road) is another major highway that passes through Andheri East. JVLR is a very important highway which connects the eastern suburbs to the western suburbs. One can approach Mumbai SEEPZ via JVLR. The upcoming metro project in Andheri (Line 3 of Phase I) is close to the Western Express Highway and provides a boost for infrastructure in Andheri east. The Mumbai International Airport is located in Andheri East.

Andheri is easily accessible to commercial hubs such as The Bandra Kurla Complex (BKC) and SEEPZ special economic zone. While the Santacruz Electronics Export Processing Zone (SEEPZ) is located within Andheri East, BKC is just about 20 minutes (10 km) away from Andheri East.

Real Estate

Andheri East is currently seeing growth in residential as well as commercial segments off late. There are quite a few developers offering 1, 2 and 3-BHK apartments in this area. There are projects such as DLH Orchid by DLH Developers and Crescent Grande by Crescent Constructions.

Despite a very good infrastructure, Andheri East has a lower capital value compared to its western counterpart. This is mostly due to the traffic snarls it faces and pockets of slums in the locality. Andheri East is most sought after by the middle and upper middle class. Covered area of a 1-BHK apartment is usually between 550-650 sq.ft while the covered area of a 2-BHK apartment is between 850-1050 sq.ft. The covered area of a 3-BHK property ranges between 1,300-1,800 sq.ft.

Property Trends

A 1-BHK apartment is available for a rent of Rs. 20,000-25,000 while a 2-BHK apartment is available for a rent of Rs. 30,000-40,000. A 3-BHK apartment is available for a rent of Rs. 45,000-75,000. If one wants to buy a property in Andheri East, the cost of a 1-BHK apartment would be in the range of Rs. 50-90 lakhs, while a 2-BHK apartment would cost between Rs. 1-1.6 crore.

With a better road infrastructure than its western counterpart, capital value in Andheri East is still lower in comparison to Andheri West. While the capital value in Andheri West is between Rs. 16,500-25,000 sq.ft, the capital value in Andheri East is between Rs. 10,500-14,000 per sq.ft.