Mumbai suburbs witness highest price appreciation in 2015

Q: Mumbai real estate has been witnessing a bearish movement over the last couple of yrs. due to bad economy and sky-rocketing property prices in the city.

shaina,

17th December 2015

Real estate News in Mumbai

mumbai real estate

mmr

slow economy

property prices in borivali east

malad west price trend

3 important micro markets in mmr

Follow Discussion

Also see discussions for

Mumbai Real estate News Real estate News in Mumbai

Replies (3)

What about Malad West real estate?

Himani,

17th December 2015

Comment

Hello Himani,
Malad West is a neighbouring area to Goregaon and a western suburb. It has relatively affordable property prices, availability of good lifestyle for middle class families and excellent connectivity to important business places such as BKC have been the major reasons for the area to rank high on good demand and high price appreciation in one year.

Arup rajan, Mumbai

17th December 2015

Similarly, presence of Kensington SEZ and IIT-Mumbai, proximity to other important business hub such as SEEPZ and the international airport, a well-developed infrastructure, clean environment and a good standard of living are the key driving factors for Malad West real estate.

shaina,

17th December 2015

Hi,
Can anybody tell me which are the 3 important micro markets that witnessed some of the highest price appreciation? Also mention the approximate property prices in those suburbs?

Govinda,

17th December 2015

Comment

Hi Govinda,
Borivali East, Malad West and Powai are the 3 important micro markets which witnessed highest price appreciation.

Approx. property price in Borivali East is Rs. 11000-16500/sq-ft., In Malad West it is Rs. 14000-15200/sq-ft approx. and in Powai-Rs.14000-19000/sq-ft. approx.

shaina,

17th December 2015

Thanks Shaina,
Which are the main driving factors that helped to boost the Borivali East realty market?

Govinda,

17th December 2015

Well Govinda,
Affordability and good connectivity to important business hubs via Western Express Highway (WEH) such as Bandra Kurla Complex (BKC) and proximity to nature has been other major drivers of the area's growth.

shaina,

17th December 2015

As a result, new supply of apartments has come down in the city and appreciation of property prices has taken a beating in many major suburbs. Yet, Mumbai suburbs witnessed the highest appreciation over one year in the entire MMR.

david.m,

17th December 2015

Comment