Real estate sector in Mira-Bhayandar

Q: Can anyone tell me how is the residential real estate in Mira Bhayandar? Is there any development happening in this belt?

Sunil Joshi, Mumbai

14th July 2013

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Replies (7)

Is Metro coming up in this area? What about drainage system?

Sunil Joshi, Mumbai

4th August 2013

Comment

The Metro is also coming up in the locality and the drainage system is going through a major change. There are plans for setting up a new sewage treatment plant, upgrading storm-water drain systems, increasing water supply and slum rehabilitation in this area

Jerome Fernandez, Mumbai

4th August 2013

The proposal of a 4-lane road connecting Gorai and Bhayandar has been an important development. This has impact property values in the area by a minimum 10 percent. Once the construction starts, property prices in the locality will rise further.The Mahim Mira Road Bus Corridor, which is a part of the Bus Rapid Transit System of Mumbai, is another feather in the cap of Mira Bhayandar Road that lures property buyers to the area.

Jerome Fernandez, Mumbai

4th August 2013

Comment

Can a middle income people invest in this area?

Neeraj Rao,

4th August 2013

The area majorly offers property that fits the pockets of the middle income group. The maximum demand and supply of properties was in the range of Rs 20-50 lakh during the Jan-Mar 2013 quarter

Rajiv,

4th August 2013

People who can't afford to buy a property in Mumbai shift their interest to Mira Bhayandar Road. Mira Road and Bhayandar East offer residential properties at lower values compared to other close-by areas such as Andheri, Malad, Kandivali and Borivali.

Sandeep Mhatre, Mumbai

4th August 2013

The Mira-Bhayandar stretch is developing at a fast pace. Investing in the properties along this stretch is a profitable investment, since the infrastructure growth and demand for residential properties in the region are likely to be met by a wide array of buyers in the coming days.

Rajiv,

14th July 2013

Comment

Why to invest in Mira-Bhayandar?

Neeraj Rao,

4th August 2013

There are already a few projects by prominent builders going on in the area. Hence one can find properties to invest in. The location has high demand for smaller size units such as 1 and 2-BHK apartments. 1-BHK apartments are normally of the size 500-600 sq.ft and 2-BHK apartments are of size 900-1050 sq.ft. While a 1-BHK apartment may cost about Rs. 45 lakhs, a 2-BHK apartment would cost between Rs. 60-80 lakhs.

Rajiv,

23rd October 2013

According to realtors, the stretch is more of an end-user market. Hence the price rises are not prone to speculations but due to fundamental reasons. Another reason for an expected price increase is due to the capital values of surrounding areas. Capital value in Dahisar is between Rs. 10,000-11,000 per sq.ft and between Rs. 15,000-16,000 per sq.ft in Kandivali. Mira Bhayander is expected to witness spillover impact. At present, the average capital value in this locality is Rs. 7,900 per sq.ft. Realtors suggest that the price appreciation will be 20-30% in the near future.

Harmeet Kaur,

23rd October 2013

Residential growth have witnessed a rapid development in the vicinity in the last few quarters. The price range in April-June 2012 was Rs 5000- Rs 5500 per sq ft, while the price range between April-June 2013 was Rs 6000- Rs 6400 per sq ft for a multistorey apartment. In one year, there was an increase of around 19% in property rates due to excellent connectivity and easy accessibility.

Sandeep Mhatre, Mumbai

14th July 2013

Comment

The rental values increased to around 15% in the last 6 months, according to market experts. Some of the ongoing projects in the area include Chheda Aakansha, Roha Serene Heights, Leena Height etc. The home buyers in this area are generally offered with 1BHK, 2BHK and 3BHK flats, inclusive of amenities such as swimming pool, club house, children play areas, gym, indoor games, jogging tracks etc.

Sandeep Mhatre, Mumbai

14th July 2013

The prevailing property prices in the locality ranges from Rs 6,000-7,000 per sq ft whereas, in areas such as Andheri the property values have gone beyond Rs 15,000 per sq ft.

Anuj Gupta, Mumbai

4th August 2013

For people who are looking at investing in Mumbai real estate, Mira Bhayander stretch is a very good bet as it is expected to see a very high price appreciation. The prices of residential properties in this locality have already doubled in the last three years. The stretch has a scope for further appreciation in the near future.

Vasanth,

23rd October 2013

What are the main reasons for the continuing price appreciation of this locality?

Sunil Joshi, Mumbai

23rd October 2013

The primary reason for the continuing price appreciation of this locality is its growing connectivity and infrastructure. The Western Express Highway connects the suburb to Navi Mumbai as well as the island city of Mumbai. The Mira Road and Bhayander railway stations lie on the western railway of Mumbai's suburban railway network. This railway line connects the Thane suburb to the western and central suburbs of Mumbai. The BEST buses provide public transport between these suburbs. Apart from this, there are other state as well as municipal bus transport systems to various parts of Mumbai and Navi Mumbai from this area.

Kishore Pathak, Mumbai

23rd October 2013

Another reason for growing property prices is its social infrastructure. The locality is decently planned and has good wide roads. It has a number of schools and colleges. It has a couple of good multi-specialty hospitals. The area has several manufacturing units.

Kishore Pathak, Mumbai

23rd October 2013

Excellent infrastructure development has fueled the growth of the housing market in the locality. As a step towards better infrastructure, MMRDA has also constructed a skywalk, which is close to the Mira road Railway station, to facilitate the residents.One of the important developments which has given adequate impetus to the residential real estate market in the region is the proposal of 4-lane road that connects Bhayandar and Gorai.

Kishore Pathak, Mumbai

14th July 2013

Comment

What is the price trends in this area?

Sunil Joshi, Mumbai

14th July 2013

Due to the rapidly growing suburb of Mumbai is all geared up to become one of the premier residential destinations near Mira road, considering its affordability and excellent connectivity. The atmosphere of the locality is extremely peaceful, organized, spacious and environment friendly. The well-planned vicinity caters to the needs of the upper, middle and lower income group segments and offers scope for every buyer to buy their dream home within budget.

Ravi Waghmare, Mumbai

14th July 2013

Comment

The Mira Bhayander belt is connected to the Western suburbs via the Western Express Highway. This has led to the rise in occupancy in the locality. The nearest railway station to the locality is Mira road and Bhayandar. The Chhatrapati Shivaji Airport is 28 kms from the vicinity and can be accessed via the NH 8 which is again helping the residential market in that area to grow

Arup rajan, Mumbai

14th July 2013

Mira road offers trouble-free access to all the major locations of the city such as Thane, Navi Mumbai and Chhatrapati Shivaji Nagar marg. Close proximity to Mira Road and Bhayandar flyover adds to the overall connectivity of the locality. Being adjacent to Mira-Bhayander belt offers easy connectivity from the western suburbs of the city to Western Express Highway along with Thane via the Ghodbunder Road. Due to its proximity to Bhayandar and Thane, the locality has witnessed significant growth in population in the last few years.

Arup rajan, Mumbai

14th July 2013

One of the flourishing suburbs of Thane, Mira-Bhayandar is situated to the north of Mumbai and has been on the radar of the developers due to its infrastructure growth and extensive connectivity.

Rajiv,

14th July 2013

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