Central suburbs has seen increased supply in 2015 owing to improved connectivity

Q: Year 2015 witnessed limited new supply of apartment projects across Mumbai Metropolitan Region (MMR) continuing with the trend of the previous year.

Alokesh Nandi, Kolkata

14th December 2015

Real estate News in Mumbai

mmr real estate in 2015

improved connectivity in mmr

chembur real estate

andheri real estate

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Replies (3)

@Vinu,
The micro markets of Chembur, Andheri West and East have garnered significant consumer interest in the last couple of years due to major enhancement in connectivity. While Andheri West and East witnessed an improvement in connectivity due to the commencement of metro train last year, Chembur witnessed the commissioning of the eastern freeway and first phase of monorail. These infrastructure projects significantly improved the connectivity of these areas with other key business hubs in Mumbai, thereby resulting in growing demand for housing in these areas.

jitu jayswal,

14th December 2015

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Hi Folks,
As far as real estate activity is concerned, which areas in Mumbai performed good? Is there any which is good for it affordability factor?

shaina,

14th December 2015

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Hello Shaina,
Many Mumbai suburbs such as Andheri, Malad, Borivali, Chembur and Kanjurmag witnessed a good real estate activity. Areas such as Malad, Borivali and Kanjurmarg witnessed growth in apartment supply due to relative affordability. However, the residential real estate activity in central suburbs of Andheri East and West, and Chembur is significant considering the fact that property prices in these micro markets are considered high.

jitu jayswal,

14th December 2015

Right Jitu,
These three micro markets viewed for a new supply of almost 2200 units, out of which around 1300 units were available in Chembur alone.

shaina,

14th December 2015

Ok....What are the reason for significant activity? Only connectivity was the main area of considering those localities?

Vinu S,

14th December 2015

Yes, if we bank on infrastructure growth and affordability, several areas across MMR witnessed an increase in supply of apartments this year. Prime Mumbai suburbs of Chembur and Andheri were a couple of these areas that witnessed an increase in new supply owing to infrastructure growth.

bablu pathak,

14th December 2015

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