Mumbai, the financial capital of India, is undoubtedly the dream space for many aspiring homeowners. The city and its suburbs have a lot to offer, from luxurious apartments and premium flats to lush bungalows and villas. Thus, thousands throng each year searching for a property in Mumbai. This increasing demand is one of the essential factors that boost the real estate in the city.
The rapid developments of flyovers and metro roads in the Western Suburbs of Mumbai have made it one of the most attractive areas in the last few years. It has instigated the influx of reputed developers to places like Goregaon, Thane, Mulund, Malad, Mahalaxmi, Borivali, etc. These areas are some of the best living spaces in the city with all state-of-the-art features and amenities, such as the best schools, colleges, restaurants, hotels, nightlife, hospitals, and residential projects. Mumbai’s realty sector is also profitable for long-term investment purposes.
So, if you’re considering investing in 4, 3, or 2 BHK Flats in Mumbai, here’s a look at the areas that are going to give you the best return on your investment.
Table of Contents
1. Goregaon
Situated amidst Borivali and Andheri, Goregaon is a perfect choice for homeowners looking for a luxurious property in Mumbai. It has good connectivity to the Western Express Highway, Jogeshwari-Vikhroli Link Road (JVLR), and Mumbai International Airport. The property demand in this area is high due to the metro line connecting Versova to Andheri to Ghatkopar. As a result, investors can earn high rental income from 1 and 2 BHKs.
2. Thane
Another area gaining popularity as a residential location near Mumbai is Thane. It offers seamless connectivity to Mumbai city and the new suburbs. It is part of the Mumbai Metropolitan Region and has witnessed incredible infrastructural development recently. Many investors are interested in buying a property in Thane to enjoy a balance between lush greenery and modern amenities.
The Ghodbunder Road in Thane is particularly attractive for affordable housing, catering to the needs of the budgeted investor looking for 2 BHK flats in Mumbai.
3. South Mumbai
One of the most expensive living pockets of Mumbai is South Mumbai. The Gores, Ambanis, Tatas, and other big names of the country have houses in South Mumbai. The real estate in this part of the city is costly not only in Mumbai but globally as well. NRIs, HNIs, and very affluent home buyers seek to invest in real estate in this part of the city.
4. Mulund
Mulund is a suburb on the northeastern outskirts of the city. Its two sections are Mulund East and Mulund West. It is located between Navi Mumbai and Thane, with a network of roads connecting it to the rest of the cities. Its proximity to many developed areas makes it a famous residential area in Mumbai. The Lal Bahadur Shastri (LBS) Marg connects Mulund West to Sion. The section is also called the Suburbs’ Prince.
Some of the world’s major firms, like Welcome (Glaxo), Chicago Pneumatic, Agfa, Oxygen, ACC, Johnson & Johnson, etc., have headquarters in Mulund West. Conversely, Mulund East is home to residential and commercial projects. There are also many schools, hospitals, banks, ATMs, colleges, recreational centres, and other social institutions in the area.
5. Byculla
Byculla was the culturally-rich home of affluent communities. Similar to the neighbouring areas of Worli, Chinchpokli, Mahalakshmi, and Parel, it was a huge cluster of mills. In the last decade, there has been significant development in the localities around Byculla. It is located between the harbour line and South Mumbai, the western suburbs. Homeowners residing in Byculla can hit the Eastern freeway and Eastern and Western express highways in just a few minutes.
Due to its excellent value proposition, Byculla deserves attention as the next property hub. While investing in a property in South Mumbai requires a large investment, Byculla remains in the relatively affordable price bracket if you are seeking 2 BHK flats in Mumbai.
Summing up
Since there are so many options available, investing in a property in Mumbai might not be very easy. You must be clear about the type of investment you require. Mumbai offers both residential and commercial properties. At the above-mentioned locations, you can find a plethora of options for residential real estate. A reputed developer can make it easier for you to complete the buying process and its legal formalities.
