Areas with rentals below Rs 30000 in Mumbai

Q: Hi, which are the area in Mumbai with rental below Rs. 30000?

Ashish Sharma, Mumbai

4th April 2015

Rentals in Mumbai

properties in mumbai

mumbai monorail project

rental markets in mumbai

eastern express highway

bandra kurla complex

bkc

cbds

powai sez

properties for rent in andheri west

properties for sale in bandra west

properties for sale in church gate

properties for rent in powai

sezs

special economic zone in mumbai

rental market mumbai

rental markets of andheri east

rental markets of andheri west

rental markets of bandra kurla

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Replies (8)

Gud evening everybody,
My question is that why residential projects can fly in BKC in the coming days?

pradyumanapte, Mumbai

5th May 2015

Comment

Gud Evening....Pradyuman,
The fact is that vast majority of people who work in BKC do not reside in and around the location creates normal housing demand. The corporate customers of BKC can be categorized as high-income earning. This is a class of people who have purchasing power and is desirable. Therefore, given that land is quite expensive in BKC for developers to provide large housing, high-end and luxury homes are expected to provide grip to sales in this area.

Padma G, Mumbai

5th May 2015

Thanks Padma,
Which are the connecting areas of BKC and why the residential demand is high in this locality?

pradyumanapte, Mumbai

5th May 2015

Connecting areas such as Kurla, Kalina and Bandra-East (Non-BKC) which do not offer home buyers options of luxury residences, as a result, the nature of demand for houses in BKC will be mostly conscious in nature. The above mentioned non-BKC areas are largely populated by low to middle income groups so in spite of being a stone's throw away from BKC, these locations are impossible to cause a risk (in price points) to projects that are launched in BKC area.

Ravi Waghmare, Mumbai

6th May 2015

Right Mansoor,
But, it may be seen that the average rentals in the area are lower compared to those of Andheri West. The average rentals per sq.ft. is about Rs 38-42K while that of Andheri West is about Rs 45-50K. The average rentals have grown continuously over the last year, mainly due to the increasing number of people desiring to settle down here. The Mumbai metro too has brought to an increase in rental demand here.

Abhijit Pawar, Pune

2nd May 2015

Comment

Hi Pradyuman,
Chembur is yet another eastern suburb of Mumbai. Rental values in eastern suburbs are usually less expensive due to less connectivity and infrastructure development compared to those of western suburbs. However, the appearance of Mumbai monorail, eastern freeway and Eastern Express Highway have significantly enhanced the connectivity.

The rental values went up by almost 5% in the past qtr. There are lots of 2BHK flats available in Chembur for an average monthly rental of Rs 30000. The built up area of most of these properties range from 650-1000 sq-ft.

Padma G, Mumbai

7th April 2015

Comment

Hi all,
I am planning to rent a flat in Chembur. How is the locality and the rental value in the locality? What would be the rent of 2 BHK flat?

pradyumanapte, Mumbai

6th April 2015

Comment

Hi Khushi,
You can also go for the Powai. It is an eastern suburb and a posh area in Mumbai. The suburb witnesses high demand for rental properties due to the national and multinational business and financial establishments as well as the Kensington SEZ present in the area. While the rental values witnessed an increase of 10% in the last 3 months, the requirement is still there for rental accommodation. About 60% of the population looking for rental flats are families and the remaining 40% are bachelors.

A 2BHK flat of covered area 750-1000 sq-ft. in Powai is generally available for a monthly rental of about Rs 28000-30000 based on the location and amenities.

Padma G, Mumbai

6th April 2015

Comment

Hello Khushi,
Yes, it is true that Andheri is another luxurious western suburb in Mumbai and at the same time very similar to Bandra. Andheri West too has a luxurious lifestyle due to several celebrities making their home here. It too has a very good social infrastructure as well as civic infrastructure.

Andheri sees demand for rental properties due to many factors. One reason is that the area has several business and financial establishments. Another reason is that the suburb is close to BKC. People who are unable to stay in Bandra look for rental properties in Andheri, as properties here are cheaper.

It offers many 2 and 3BHK properties for a monthly rental of about Rs 25000-30000. The approximate covered area of flats are 600-900 sq-ft.

Nishant Bhat, Mumbai

5th April 2015

Comment

Hi Nishant,
What is the average rental yield in Andheri East in last one year?

Anup Soni, Pune

2nd May 2015

Hi Anup,
The average rental generate in Andheri East which is in the range of 3.2-3.6% in the last 1 year. Looking at the best average rental yield in the country to be between 3-4%, the rental yield in Andheri East can be considered a good one.

khushisha, Mumbai

2nd May 2015

Hello Khushi,
This is mainly due to the infrastructure, connectivity, amenities and the luxurious lifestyle of people. Bandra is also home to several Bollywood celebrities. This area is getting more popularity for rental accommodations due to the appearance of Bandra Kurla Complex. It is also close to southern Mumbai, which is mainly a business district.

Though Bandra is a luxurious suburb, one can find few 1 and 2BHK flats for monthly rentals of Rs 25000-30000. Most of these have a covered area of 500-600 sq-ft. There are several flats with more amenities and higher configuration available for higher rent.

Sunil Joshi, Mumbai

4th April 2015

Comment

Thanks a lot Sunil,
But i heard that Andheri and Andheri West is also a luxurious suburb in Mumbai and similar to Bandra? It too has a very good social infrastructure as well as civic infrastructure. Why this locality is so similar to Bandra? Can i rent my property here? What is the rental value of 1 and 2BHK?

khushisha, Mumbai

4th April 2015

Hi Ashish,
The rental values are on the rise in Andheri East as there are many people looking for rental properties, especially near CBDs and important SEZs such as Bandra Kurla Complex, Lower Parel, Church gate and Powai SEZ. In spite of the rising rentals, one can still find apartments within a monthly rent of Rs 30000 in various parts of Mumbai.

Sunil Joshi, Mumbai

4th April 2015

Comment

Hi Sunil,
Do you have any knowledge about the Bandra rental market? Why Bandra is considered one of the most luxurious western suburbs? What is the current rental property rate of 1 and 2BHK there?

khushisha, Mumbai

4th April 2015

Right Sunil,
Apart from sale, Andheri East also draws majorpo pulation looking for rentals. This is normally the working population in SEEPZ or other nearby business districts. According to the latest draft of the Mumbai development plan 2034, approximately 80000 people in Mumbai travel to SEEPZ for work every day.

Mansoor Bithal, Mumbai

2nd May 2015

But Sunil,
Can you tell me if i bought a 2 BHK flat and rent in out what rent could i expect for a 2BHK in Andheri East or in Andheri West?

khushisha, Mumbai

2nd May 2015

Well Khushi,
Rental Markets of Andheri East:- A 1BHK will Rent to you Rs. 20000-30000/month whereas a 2BHK will Rs.25000-45000/month and a 3BHK will be Rs. 50000-85000/month.

Similarly, a 1BHK in Andheri West will rent around Rs. 23000-35000/month whereas a 2BHK will be Rs. 30000-60000/month and a 3BHK will rent you Rs. 55000-90000/month.

Mansoor Bithal, Mumbai

2nd May 2015