Fuelled by the soaring demand for homes, the real estate developers in Mumbai have been experiencing a considerable growth in the last few years. Even areas outside the suburbs, which were earlier overlooked by builders, have become highly viable, thereby helping create opportunities for more and more micro-markets. Chembur, located strategically, and connected to South Mumbai via the freeway, the Western Suburbs via the SCLR, Navi Mumbai via the Sion-Panvel Highway, and Central Mumbai via the Eastern Express Highway, is one such area which has rapidly risen in popularity, lately.
As such, it is positioned perfectly to not only meet the ever-increasing demand for 2 and 3 BHK flats in Chembur, but also to address the lack of space and infrastructure, a major concern in several other areas of the city. Its proximity to business districts and airports, along with its connectivity to the rest of Mumbai, makes commuting easy for professionals, resulting in a huge increase in the number of home owners looking to buy properties here. Furthermore, upcoming projects like the Navi Mumbai International Airport, the Monorail Phase-II Wadala to Jacob Circle, and the elevated road from BKC to Sion, are expected to majorly increase the demand for residential properties in the area.
If you look at the time from 2007-2017, one can easily trace the growth story of Chembur. That period was a time when developers were looking to sell their flats in Chembur on the super built-up area in the price range of Rs. 6,000-9,000 per sq. ft. Come 2010-2014, after the infrastructure boom, the prices started shooting up.
(Also read about : Chembur East – A Growing Residential Hub)
Social amenities are also well-developed, as the place offers good schools, colleges and shopping areas. So, with all the facilities and amenities required to lead a healthy and luxurious life, Chembur still remains a highly sought-after place in Mumbai and if you too are looking out to buy a home, you should consider Chembur.
Capitalising the potential, many real estate developers have forayed in Chembur and are investing in the area at an unprecedented pace in accordance with growing demand of young generation who not only wish for homes designed as per modern standards but are also affordable. The availability of large industrial land parcels for residential developments amply supported this transformation. As large industrial land parcels were unlocked for real estate developments, several developers gravitated towards Chembur and the micro-market started buzzing with new developments. Along with its wealth of open public spaces in Gandhi Maidan, Annabhau Sathe Garden, Diamond Garden, Ambedkar Udyan, Sandu Garden, Tilak Nagar Ground and Jawahar Ground as well as The Bombay Presidency Golf Club, the stage is set for large-scale residential developments to take off in Chembur.
Being the cynosure of a big share of new real estate developments due to its strategic location advantage, Chembur is likely to witness significant new launches in the future. Hence investing in this locale of Mumbai will be a good option.