Property rates in Eastern Mumbai expected to double by 2017

Q: It seems that real estate market rates in eastern Mumbai districts are going to double by 2017.

Sanjana Jain, Mumbai

6th March 2014

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Replies (2)

Hello Ashish,
But this is mainly due to the upcoming infrastructural improvements and developments like the construction of the 12 lane multimodal corridor, the ambitious Delhi Mumbai Industrial Corridor, the expansion of educational and IT infrastructure and the slated extension of rail connectivity. These factors will really push the property prices to a greater limits by 2017.

Sandeep Mhatre, Mumbai

6th March 2014

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Hi Sanjana,
Yeah even I too came across the fact that property rates in the eastern districts like Karjat, Neral, Shelu and Khopoli are going to bounce by 2017. This is mainly due to property investment here remains a good, safe, low-risk investment with average rates of Rs 3000 per square foot and an upward trend incomparable to other areas in the real estate market.

Anuj Gupta, Mumbai

6th March 2014

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Hello Anuj,
Based on trends seen in Navi Mumbai and Panvel, it is estimated that property prices will continue to rise to Rs 6,000/sq ft by 2017, Rs 8,000 per sq. ft. by 2020, Rs 15,000 per square feet by 2025 and to an astounding Rs 30,000 per square feet by 2030; an incredible 900% appreciation in 16 years.

Ashish Sharma, Mumbai

6th March 2014