Places For Affordable Housing In MMR
Mumbai is home to people from all walks of life, thus there is a large demand for inexpensive accommodation in & around the city. Throughout the MMR, Virar, Panvel, and Badlapur have become a few of the most well-liked and reasonably priced spots to visit. These areas get a lot of interest because homes there typically cost around Rs 6,200 per square foot. Continue reading to learn what else these regions have to offer.
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According to the most recent statistics. Mumbai is the most populous city in India as well as the eleventh most populous city in the world. As a result, the demand for affordable housing in cities will always be higher than average. Yet, the lack of available land in MMR has driven buyers to the outskirts in search of reasonably priced property. Due to the growing capital costs in the city, more people are choosing to buy homes in the suburbs. Furthermore, compared to the congested core regions, these suburban marketplaces provide rising infrastructure, better connectivity, industrial hubs, and open spaces. As a result, the MMR region’s affordable housing hotspots are listed below for your consideration if you’re looking to buy a house there. The socio-physical infrastructure in these places is further described, along with the numerous possible property alternatives.
Badlapur, Thane
Including the four tiny villages of Katrap, Kulgaon, Badlapur, and Manjarli, Badlapur is one of the MMR cities that is growing the fastest. It is situate in the Thane district of Maharashtra. Off the Kalyan–Karjat Highway is where it is located. Although the neighbourhood is mostly recognize as a tourist destination because of its serene setting. It has developed into a well-developed area with its own residential population. Home values in Badlapur are at around Rs 4,000 per square foot, up 5% over the previous three years. One-bedroom apartments make up more than 65 percent of the area’s housing stock.
Badlapur is a sought-after location because it is affordable, has a booming tourism industry, is connected to Mumbai & Pune by highways and railroads, has social amenities like water parks, and has an increasing infrastructure. The Ulhasnagar–Ambarnath–Badlapur region’s emerging commercial centre and anticipated connection developments like the Mumbai Metro route from Kanjurmarg to Badlapur would also boost the area’s real estate sector.
Kalyan-Dombivli, Thane
Dombivli East & Kalyan West are two of Thane’s most promising neighbourhoods, with average housing values of Rs 7,000–7,500 per square foot as of February 2023. Recently, the Kalyan-Dombivli stretch has experienced a real estate boom. Largely as a result of Mumbai’s skyrocketing capital prices and a rise in demand for reasonably priced residences. Also, there is a desire for affordable properties in this area due to the presence of numerous small and major companies along the stretch of road. Homes with one or two bedrooms predominate in this area’s housing stock. In some areas of the Dombivili region, there have also been reports of a water deficit. Although the administration is taking action to boost the regularity of water supply in these areas.
Additional factors that are anticipated to improve the region’s growth prospects include its proximity to the proposed Navi Mumbai International Airport, the planned Ring Road from Dombivali to Titwala via Kalyan, and the extension of the Belapur–Taloja metro rail service up to Kalyan and Ulhas Nagar.
Raigad, Panvel
Panvel, a residential area in Maharashtra’s Raigad District. Experienced a surge in demand shortly after the Navi Mumbai International Airport’s announcement. One of Panvel’s greatest benefits is its superb transportation infrastructure, which includes the Mumbai-Pune Expressway, the Sion-Panvel Highway, and the Panvel Train Station. Infrastructure-wise, the area is close to Mumbai, Pune, and Thane and is home to a variety of social facilities, including prestigious schools, educational institutions, multispecialty hospitals, malls, and retail establishments.
The area serves as a great residential location for the working people because it is close to important industrial parks that are home to businesses like Larsen & Toubro (L&T), Reliance, & ONGC, among others. The rooms are also preferred by people who work in Kopar Khairane, Kharghar, and Belapur CBD. Additionally, large-scale infrastructure projects like the proposed international airport, the Delhi-Mumbai Industrial Corridor. And the Navi Mumbai Airport Influence Notify Area (NAINA) are anticipate to create employment opportunities in the Panvel neighbourhood. That may be important for the area’s real estate growth. It is also anticipate that a sizable data centre. As well as a planned business area at Kharghar (six kilometres away) will increase demand for cheap housing in Panvel.
As of February 2023, the average price of real estate in Panvel was about Rs 8,000 per square foot. The most common housing alternatives in this neighbourhood are two-bedroom homes, with prices between Rs 50 lakh & Rs 1 crore.
Palghar, Virar
With capital prices average around Rs 5,500 per square foot, Virar. Which is located in the Palghar District of Maharashtra, is one of the most cost-effective housing choices in MMR. In addition to being affordable, Virar enjoys convenient access to the NH-8 (Mumbai-Ahmedabad). NH-3 (Mumbai-Agra-Delhi), NH-4 (Mumbai-Chennai), and NH-17 routes (Goa-Mangalore-Kerala).
The Western Highway as well as the Western Line of the Suburban Trains provide direct access to Mumbai from the neighbourhood. The majority of the residential stock in this area is under Rs 50 lakh in price. And the 1 BHK design is the most popular.
The eastern half of Virar, specifically Manvelpada, Phulpada, Chandansar Road, and Veer Savarkar Road. Where is much of the development is center. This suburb contains all one could need for a carefree and cheap lifestyle. From acceptable housing alternatives to enough social infrastructure. Including entertainment and recreation areas, shopping centres, hospitals, and schools.
Future infrastructure initiatives including the Churchgate-Virar elevated project, the Bandra–Versova Sea Link expansion, the Vasai–Bhayander Bridge, the Alibaug-Virar Corridor, and a dedicated Mumbai Metro station are anticipated to substantially enhance this community’s transit accessibility.
Conclusion
The worsening Mumbai AQI (Air Quality Index) is another recent occurrence. That has caused people to search for green spaces and reliable connectivity. Suburban regions like Powai-Chandivali & Goregaon–Kandivali have so emerged as the preferred locations for individuals seeking the best of Mumbai living without having to pay a high price.
Ulwe is a locality offering a variety of housing alternatives at a competitive price of Rs 8,800 per square foot in addition to the areas already listed (on average). Yet, the region’s two main growth inhibitors are the slow rate of development and the imbalance between supply and demand.
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