Purchasing a home in Mumbai, one of the world’s most expensive real estate markets, is a pipe dream for many. Certain areas, however, have recently emerged as preferred housing hubs due to affordability and higher returns on investment. navimumbaihouses.com   has compiled a list of the top ten emerging areas to invest in Mumbai.

Mumbai, the country’s financial capital, attracts people from all over the world who come here to make a living. The growing population has created a permanent real estate space crunch. However, some areas, such as Kanjur Marg West, Malad East, Bhayander East, Vikhroli West, Kurla West, Marol, Gokuldham, and Goregaon East, are more expensive.

Thakur Village and Chandivali, among others, have emerged as top investment areas in Mumbai. Their relative affordability and consistent price appreciation have piqued the interest of both buyers and investors. Let’s take a look at the factors driving real estate growth and the investment opportunities in these areas.

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Mumbai, Kanjur Marg West

While commercial and industrial units in Andheri East and Bandra-Kurla Complex (BKC) are about 10-15 km away, Kanjur Marg West properties are priced lower than those in nearby Powai and Kanjur Marg East. The current property prices in the area average around Rs 20,350 per sq ft, with a nearly 30 percent price increase in the last year.

The proximity of the Bhandup Industrial Area and the Kanjur Marg Railway Station, both of which are within 3-5 kilometres, contributes to the high rental demand, with a 2 BHK unit fetching around Rs 40,000 per month.

To explore properties in Kanjur Marg West, Mumbai, click here

Mumbai, Malad East

Because of the ease of access, most professionals working in the Andheri-Borivali region prefer Malad East as a housing destination. “There are well-maintained parks and the public transportation facility is also good in Malad East,” Furthermore, several markets are within walking distance. Water-logging, on the other hand, is a common sight during the monsoon season due to poor road maintenance.”

Malad East, like Malad West, benefits from various connectivity advantages. However, Malad East is less expensive than its counterpart. The average monthly rental for a 2 BHK is Rs 38,000, with buy rates hovering around Rs 18,500 per sq ft. In the last year, the neighbourhood has seen a nearly 20% increase in price.

To explore properties in Malad East, Mumbai, click here

Mumbai, Bhayander East

While Bhayander East has numerous locational advantages, the two major factors that make it a popular choice among homebuyers are its proximity to Bhayander Railway Station and the presence of small and medium-sized industries such as metal, textile, and fabric, which employ thousands of people. The current property prices in the area are around Rs 10,000 per sq ft, but with rising housing demand, it has seen a 13 percent price increase in the last year. “Because the prices are relatively affordable and the returns are excellent, investors flock to the residential markets to invest their money here,”

To explore properties in Bhayander East, Mumbai, click here

Social infrastructure along the emerging areas to invest in Mumbai

Mumbai, Vikhroli West

People who work in the Bandra-Kurla Complex business district or the Marol MIDC Industrial Area in Andheri East (1 km) prefer to live in Vikhroli West. It has good road access via LBS Marg, Hiranandani Link Road, and Jogeshwari-Vikhroli Link Road. There are plenty of 1 BHK and 2 BHK residential options in the area, with average prices hovering around Rs 17,500 per sq ft, which is lower than in neighbouring Powai, Ghatkopar, and Vikhroli East. The average home value in Vikhroli West has increased by nearly 12% year on year.

To explore properties in Vikhroli West, Mumbai, click here

Invest In Mumbai : Marol

Marol contains a significant number of ready-to-move-in units, the majority of which were built by premium developers, It has great metro access thanks to a dedicated metro station on the Versova-Andheri-Ghatkopar Metro Line 1. The close proximity to Marol Industrial Area (one kilometre), Chhatrapati Shivaji Maharaj International Airport (four kilometres), and the commercial hub of Andheri (six kilometres) contribute to the rising demand for rental properties in this area. Current property prices average Rs 20,000 per sq ft, representing a price increase of more than 9% over the previous year.

Invest In Mumbai : Kurla West

Kurla West is adjacent to the Bandra-Kurla Complex (BKC), Mumbai’s premier business district. While it is slightly more expensive than Kurla East, at an average of Rs 18,000 per sq ft, it has experienced over 10% price growth year on year and is thus preferred by those looking to profit from their real estate investments. “A large portion of the available inventory in Kurla West is for 1 BHK and 2 BHK units priced between Rs 50 lakh and Rs 1.5 crore,” A 2 BHK home can earn a minimum of Rs 25,000 per month for those who wish to rent it out.”

To explore properties in Kurla West, Mumbai, click here

Invest In Mumbai : Gokuldham

Gokuldham, located along Goregaon East, is a prominent housing market that primarily consists of multi-story residential units. It is 5-10 kilometres from major commercial centres such as Oberoi Commerz, Nirlon Knowledge Park, Mindspace Malad, DLH Park, Infinity IT Park, Lotus Corporate Park, and NESCO IT Park. The new Oshiwara District Centre is also only six kilometres away. Other commercial hubs nearby include Bandra Kurla Complex (18 km), SEEPZ SEZ (10 km), Kensington SEZ (13 km), MIDC Andheri (10 km), and Hiranandani Business Park (13 km), making it a popular residential destination in Mumbai. While prices are slightly higher at around Rs 20,500 per sq ft, the YoY growth has been around 8%.

Invest In Mumbai : Goregaon East

Goregaon East is located in between Andheri and Borivali. Goregaon East is considered an ideal destination for those looking for affordable homes in Mumbai, with current average property prices hovering around Rs 20,500 per sq ft. It connects to the Jogeshwari-Vikhroli Link Road (JVLR), the Western Express Highway, and the Chhatrapati Shivaji Maharaj International Airport. “Its proximity to the commercial belt as well as the famous Film City acts as a catalyst to rental demand,” Investors and property owners in this area can expect a monthly rental income of Rs 40,000-48,000 for a two-bedroom unit.”

To explore properties in Goregaon East, Mumbai, click here

Mumbai’s Thakur Village

Thakur Village is a densely populated neighbourhood located one kilometre from the Western Express Highway (WEH). This mid-income neighbourhood offers a mix of high-rise and low-rise housing complexes at an average price of Rs 20,000 per sq ft, attracting professionals working in Andheri, Goregaon, and Malad. Furthermore, IT Parks such as Interface IT Park, DLH Park, Synergy Business Park, and Nirlon Knowledge Park are only about seven kilometres away. Oberoi Realty, Kanakia Spaces Realty, and Courtyard Real Estate Pvt Ltd are among the developers behind the majority of the residential projects. Average monthly rentals for a 2 BHK begin at Rs 36,000, making it a popular choice among investors.

Invest In Mumbai : Chandivali

Chandivali as “an upscale central Mumbai locality surrounded by Andheri in the west, Vikhroli in the east, Sakinaka in the south, and Powai in the north.” It is a natural choice for people working in Powai, Andheri, and along the LBS Road. Prices in this area range between Rs 17,000 and Rs 22,000 per square foot. It has shown consistent price appreciation of 7-10% over the last five years. Furthermore, the Powai Metro Station on Mumbai Metro Line 6 is less than two kilometres from Chandivali, adding to its list of advantages.”

To explore properties in Chandivali, Mumbai, click here

While “the availability of public transportation” is commendable, “water scarcity is vexing,” according to a tenant. However, efforts have been made to address the area’s water shortage. While these areas offer residential units at lower prices, ensuring better returns in the long run, it is recommended to conduct site visits and thoroughly inspect the property before proceeding with the transaction.

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