Could Mira Road be a good option for investment and rent

Q: Hi, i am planning to buy a residential house in Mira Road. Can anybody provide me the information about the locality?

Lewin G,

29th July 2015

Locality Review in Mira Road, Mumbai

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Replies (4)

Hi,
To get more information of Mira Road click the link Mira Road-a good option for investment and rent

Sanjana Jain, Mumbai

30th July 2015

Comment

Hey guys,
What will be the approximate monthly rent of 2BHK in the MIra Road? What is the gross rental yield of this area?

Miraniyatin, Mumbai

29th July 2015

Comment

Good Evening Miran,
The approximate monthly rent of a 1BHK apartment is about Rs 6000-12000, while that of a 2BHK apartment is about Rs 11000-16000. The approximate monthly rent of a 3BHK unit is about Rs 15000-23000.

The approximate rental yield, calculated by dividing the total rent of the property over 12 months by the total cost of the property, is about 3% in the area.

Rakshit, Mumbai

29th July 2015

Hi Dwarkesh,
I have never visited this place. Ca you tell me something about its connectivity to different parts of Mumbai Metropolitan Region such as Mumbai, Thane and Navi Mumbai?

Veena K,

29th July 2015

Comment

Hello Veena,
Mira Road is connected to Mumbai via Western Express Highway while it is connected to Thane and Navi Mumbai via Ghodbunder Road. The area is also well connected to Mumbai via local trains.

There are already plans to extend the Dahisar metro line up to Mira Road. The Mahim-Mira Road bus corridor, which is part of Mumbai BRTS is already implemented in the area.

There is a proposal to upgrade the Gorai-Bhayandar Road to a 4-lane stretch along with other road widening projects.

Dwarkesh,

29th July 2015

Thanks Dwarkesh,
Do you live in Mira Road? Is the locality livable in terms of social and civic infrastructure? How is the availability of the property in this locality?

Veena K,

29th July 2015

Well Veena,
Yes, i live in Mira Road and because of that i am able to give you the details about the locality. Mira Road has good social and civic infrastructure. This includes a new sewage treatment plant, 2 new fire stations and planned storm water drain systems. It has several malls and markets nearby.

Most units available in the area for rent are multi-storeyed apartments. The area is dominated by 2BHK units, followed by 1 and 3BHK units.

Dwarkesh,

29th July 2015

Hi Lewin,
Yes, Mira Road is one of the fastest growing real estate markets in Mumbai today. This is primarily due to its good connectivity to key business hubs as well as its affordability. It attracts several middle class home buyers. The lower rentals and good rental yield also make the area a good option for both tenants as well as landlords.

Dwarkesh,

29th July 2015

Comment