Being one of the most expensive
property markets in India, Mumbai provides only a few realty opportunities to
small investors. However, several suburban localities in the city have been
emerging as the realty hotspots for the home buyers and investors. As buying a
property in these peripheries of Mumbai will result in good capital
appreciation and high rental yields in the future, many property investors and
second time home buyers are. Particularly, Mumbai's eastern suburbs have been
the most preferred property investment choice.
Also, the peripheries of Navi
Mumbai are also witnessing a huge real estate demand in
recent times. Some of the localities are grasping the attention of many
potential home buyers in this region. Alongside, the state government has
announced several infrastructure projects here. According to real estate
experts, the localities like Dronagiri, Ulwe, Karanjade and Kamothe. With the
upcoming infrastructure developments, buying a property in these localities
will make the investors benefited in the long run. Thus, the home buyers are
preferring these areas for property investment.
Further, the upcoming MTHL
(Mumbai Trans Harbour Link) and the International Airport at Navi Mumbai will
certainly improve the connectivity in these localities. The price of the
apartments in Navi Mumbai, especially in these localities, ranges between INR
4,400 and INR 6,010 per sqft.
Apart from it, the steady
property price appreciation is another factor that drives the realty market
here. According to the sources, the capital values of apartments in Ulwe and
Karanjade have increased by 6% and 10% respectively. Moreover, the heap of residential
plots available in these localities has enticed many investors to purchase
large land parcel which in turn increased the property prices in these regions.
For instance, plots in Dronagiri were priced at INR 26,400 per sqft on average;
in 2015 the prices rose up by 18% and cost an average of INR 31,135 per sqft.
So if you are looking to buy a
property in Mumbai for investment purpose then preferring these peripheries of
Mumbai could be the ultimate choice. Apart from providing a high return on
investment, buying a home in these localities will generate high rental yields
in the future.