Ready-to-move property in Andheri West

Q: If you are looking for ready-to-move property then Andheri West would be the right destination.

Jackie,

28th May 2015

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Replies (4)

Hi all,
The current residential property rate in Andheri (East) is going on Rs. 17250/sq-ft. whereas in the Andheri West slightly higher, it is Rs. 22450/sq-ft. But remember on thing that the values may vary depending on the location infrastructure, amenities, facilities and other related issues.

Shreya Agarwal, Mumbai

10th June 2015

Comment

Hi Sandeep,
Can you tell me which are the key growth factors of Andheri West as a residential area? As i heard that it is very close to the Mumbai International Airport and important business hubs like Bandra Kurla Complex (BKC) and SEEPZ SEZ.

Chintakpujara, Mumbai

28th May 2015

Comment

I think you are partly right but the other factor such as its developed civic and social infrastructure, Proximity to posh localities such as Powai, Bandra, Khar and Juhu, and their social amenities have contributed a lot. Excellent connectivity by road and rail to all major suburbs of Mumbai. Connectivity and traffic conditions have improved in the last one year, due to Sahar Elevated Road and the new metro line.

Sandeep Mhatre, Mumbai

28th May 2015

Hi Sandeep,
Recently, i came across a well written report on Andheri West real estate market, you can read the report by clicking on this link Ready-To-Move properties in Andheri West, Mumbai

Ravindra Singh,

29th May 2015

you can also consult buyright real estate consultant

deepa, Mumbai

28th May 2015

Comment

True Jackie,
Andheri West has emerged as one of the high end areas in Mumbai in recent years. Apart from aimed development, a number of factors have guided to the areas growth as a top quality location. Due to the limited availability of land and high property prices in the area, the area witnesses limited project launches, focused more towards the upper middle class and higher net worth individuals.

shaina,

28th May 2015

Comment

Right Shaina,
Being an old area, Andheri West offers a good number of properties for resale according to CommonFloor data, which are more attractive to end users. In Andheri West almost 10% of the properties available for resale are independent house, while the remaining are multi-storeyed and builder floor apartments. Most of the available units for resale in the area are 1 and 2BHK but very few 3 and 4BHK.

Sandeep Mhatre, Mumbai

28th May 2015

Thanks for the valuable feedback Sandeep,
What is the average age of those resale property as well as the weighted average price?

shaina,

28th May 2015

As per the commonfloor data, Andheri West offers a few properties as old as 30-40 years. However, the average age of a 1BHK property is about 19 years and the nos. of property available 530 while that of 2BHK unit is about 16 years and the nos. of property available 960. The average age of a 3BHK unit is about 10 years and nos of available units 1600. The trend of 4BHK units has come around only in the last decade with an average age of 7 years and the nos. of units available 2250.

The weighted average price of resale properties which also indicate the market price, is about Rs 23200/sq-ft.

Sandeep Mhatre, Mumbai

28th May 2015