Why Should You Invest In Mumbai’s Andheri East?
Mumbai’s Andheri East : Andheri East in Mumbai is a popular neighbourhood known for its multi-modal connectivity, ease of living, and abundance of residential options. The area is close to Mumbai International Airport, employment zones, and numerous recreational opportunities. navimumbaihouses.com investigates whether it is worthwhile to invest in Andheri East, where property values average around Rs 21,000 per square foot.
Andheri East is a popular micro-market in the Mumbai Metropolitan Region’s Mumbai-Andheri-Dahisar belt (MMR). Because of the high volume of footfall, Andheri East is an investors’ haven, as it is home to the Santa Cruz Special Economic Zone (SEEPZ), Chakala Industrial Area, and Marol Industrial Estate, all of which are part of the Maharashtra Industrial Development Corporation (MIDC), as well as other commercial hubs.
Because the area is particularly popular with middle-income professionals, most property transactions are worth Rs 1 crore or more. But what factors contribute to the region’s real estate landscape, and should you invest in Andheri East? navimumbaihouses can assist you with this!
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Mumbai’s Andheri East -A well-known residential market
Andheri East is primarily a mid-segment neighbourhood with a diverse property inventory, with nearly half of the inventory dedicated to 2 BHK apartments. Although nearly 90% of the stock is priced at Rs 1 crore or higher, about 55% is priced between Rs 1-2 crore, and the remainder is priced higher. In the last five years, the area’s home buying value has increased by about 6%, and it now stands at around Rs 21,000 per sq ft.
Andheri East is lined with residential projects by reputed developers such as the Lodha Group, Sunteck Realty, and Mahindra Lifespaces, to name a few, due to the high demand for the area among buyers and tenants. The area has plenty of ready-to-move-in properties, with only about 20% of the total stock under construction.
In terms of the rental market, Andheri East is popular among tenants due to the presence of several office spaces such as Bandra-Kurla Complex (BKC), Nirlon Knowledge Park, and Nesco IT Park within 5-10 km of the neighbourhood, among others. Tenants prefer flats configured as 1 BHK units, which command monthly rents of around Rs 25,000-45,000. The area generates a lower annual rental yield of about 5% when compared to Andheri West, but it is still decent and far more than many residential markets, which generate a yearly rental yield of around 2-4%.
Mumbai’s Andheri East- Good intra-city connectivity
Andheri East provides enviable connectivity via road, rail, and metro in a city plagued by long traffic hauls. Aside from the Jogeshwari-Vikhroli Link Road and the Andheri-Kurla Road, the area is also dominated by the Western Express Highway, which allows residents to easily commute to other parts of Mumbai. A proposed bridge from the Juhu-Versova Link Road to Mayor Hall is also expected to help with movement. The Chhatrapati Shivaji Maharaj International Airport is only three kilometres away.
The area is serve by a station on the Mumbai Metro’s Line 1 (Versova-Andheri-Ghatkopar). Furthermore, the operation of Line 3 (Colaba-Bandra-SEEPZ) will greatly benefit Andheri East by adding two new stations. Namely MIDC and SEEPZ. The construction of the DN Nagar Metro Station on Line 2A within a five-kilometer radius of the neighbourhood will also improve connectivity.
In terms of railway access, Andheri East has its own station on the Mumbai Suburban Railway.
Developed social infrastructure
Andheri East is well-known for providing residents with all of the necessary amenities. The neighbourhood is dotted with social facilities that cater to the residents’ medical and educational needs. In addition, there are several markets, malls, and supermarkets in the area that provide daily necessities. Tourist attractions nearby include the Mahakali Caves, Jogeshwari Caves, and the extremely popular Juhu Beach.
Social conveniences near Andheri East, Mumbai
|Commercial hubs||Educational institutions||Healthcare facilities||Recreational options|
|Bandra Kurla Complex||Bombay Cambridge International School||SevenHills Hospital||Juhu Beach|
|Powai||ICAR-Central Institute of Fisheries Education||Sugun Hospital||Phoenix Marketcity Mall|
|Marol MIDC||Canossa High School||Holy Spirit Hospital||Star Market|
While the area is well-serve, it does suffer from vehicular congestion, insufficient parking, and waterlogging during the monsoons. As a result, when making an investment decision, it is critical to weigh the negatives against the positives.
Andheri East has been a popular investment location for many years and is expected to maintain its dominance in the city’s real estate market. However, before finalising a property and signing the deal, exercise due diligence and conduct extensive market research.
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