Rs , sq ft

Removed from Shortlist

My Shortlist ()
Keep track of your shortlisted properties here. Shortlist a property to get started.

Top 3 Affordable Areas in Mumbai in 2015

Replies (3)
1
Hey Ritu,
I am planning to buy my first house in Nalasopara. Is it good decision? The locality is not so famous as Mira Road and Panvel but still popular due to lower property prices. I think that the extended up Mumbai Metro up to Virar will certainly boost this locality?
Shreya Agarwal


Right Shreya,
The Nalasopara has slowly started gaining fame in the last 3-4 years as a destination of affordable apartments, primarily due to its lower property prices, good connectivity to Mumbai via the WEH and rail. The area’s civic and social infrastructure too is growing at a good pace.
29th June 2015


Thanks Aneek,
What are the property prices in those top 3 areas going on as per the BHK wise availability?
Shreya Agarwal,  Mumbai
29th June 2015


Well Shreya,
As of now, The property prices in Mira Road is 7400/sq-ft. Huge availability of 1 and 2BHK with few 3BHK units.

Property prices in Panvel is Rs. 3000-4700/sq-ft. with 1RK, 1/2BHK availability.

Similarly, Rs. 4200/sq-ft is the current property price in Nalasopara and you will get a variety of 1 and 2BHK options.

The values may vary depending on the location infrastructure, amenities, facilities and other related issues.
29th June 2015


2
Hi Aneek,
If i have to buy a house in those 3 areas what will be my budget? How is the real estate growth in MIra Road? Which are the prime factor that fueled the most?
Mritunjoy Deb


Good Morning Mithdeb,
Mira Road, which is situated just beyond Dahisar, has gained popularity as a fast growing area for buying an affordable house in the last few years. The growth of residential real estate is fuelled by the proximity and great connectivity to the important business hubs as well as prime localities via the Western Express Highway (WEH) and suburban railway too have greatly contributed to the area's growth. With a fast growing infrastructure in terms of civic amenities, transport and social amenities, the area can now be considered a fully developed area rivalling a few other western suburbs such as Panvel and Nalasopara.
29th June 2015


Thanks buddy,
I heard a lot about Panvel. Is it only because a upcoming Navi Mumbai international airport is being developed by CIDCO?
29th June 2015


Certainly not, affordability is one of the main drivers of Panvel's growth. It is strategically located on the Mumbai-Pune Expressway and Bangalore-Mumbai National Highway, giving it excellent connectivity to Mumbai as well as other major cities. It is close to several industrial areas. The area’s infrastructure is growing at a fast pace, with plans of a Navi Mumbai metro rail and the Mumbai Trans-Harbour Link (MTHL) close to the area to improve its accessibility. The area is set to be developed as an educational and IT hub. All these factors make Panvel most demanding area.
29th June 2015


3
Hi Amreesh,
As per latest research by CommonFloor, Mira Road, Panvel and Nalasopara are the following areas emerged as the top 3 residential real estate markets offering affordable housing in the Mumbai Metropolitan Region (MMR) during the first half of 2015.
Aneek Das


4

Ask a Question
120 Characters Left











    CommonFloor Property Search Mobile App now available on Android, iOS and Windows!