subject: Demand In Residential Property Has Risen In Eastern Suburbs Between Powai And Dadar [print this page] Since seven years especially in the residential property segment the eastern suburbs between Powai and Dadar have become premium locations for residential property of Mumbai.
Residential apartments price in these locations have reached its peak level. The major reason behind it is Lack of Resale apartments as compared to growing demand. The demand and consumption of residential property in these parts has increased since these locations are centrally located in Mumbai. Having the proximity to most roads like Eastern Express Highway, Wadala-BPT Road which connects eastern suburbs to South Mumbai, Western Suburbs, Jogeshwari-Vikhroli Link Road (JVLR)and Navi Mumbai as well.
Rise in property rates in these areas is due to major reason of upcoming Metro Rail, Flyovers (Matunga and Chembur-Santacruz CST Road), Monorail and some reputed Schools.
After analyzing this belt deeply- say Sion-Matunga-Dadar - there is hardly any choices of resale apartments available in the real estate market as most families staying here are settled here for last two to three decades and do not wish to move in any other suburbs of Mumbai.
The demand for property in Mumbai is as usual high due to the family generations growing up and the professionals relocating from other parts of the counties. The growing demand for consumption of residential properties is the only possible way to go vertical in redevelopment of old buildings and develop extended belts of land parcels which are well connected to suburbs.
Wadala the most strategically located has got a major boost up as it land parcels with the scope of major construction possibility. As developers has seen the potential in Wadala to develop residential property and townships with ultra luxury amenities to match the demand of consumption of residential properties.
Major set of buyers are combinations of existing well settled business families and professionals who have relocated from other parts of Mumbai prefer these upcoming luxurious residential projects.
There is another belts as well Chembur-Ghatkopar-Powai having its own charm. Ghatkopar being the most densely populated suburbs with major demand of residential property in Mumbai from existing business families settled here who are even ready to pay handsome amount above the market rate. Here the price has reached sky high due to the shortage of supply for resale apartments and lack in land parcel.
Mumbai sub locations like Chembur, Powai and Ghatkopar-West is famously known for its cosmopolitan culture in major demand for residential properties. The demand for residential property in these locations is from varied buyers like self-employed, professionals and business families.
Due to the lack of land parcel and resale supply the developers are concentrating to develop residential complexes and townships with luxurious amenities extended in belt like - (1) Chandivali and JVLR connected to Powai (2) Ghatkopar-Powai Link Road (3) Deonar-mankhurd connected to Chembur cater to growing demand for consumption of residential property in Mumbai.
With overall scenario prospective buyers have varied choices to select their dream home from all these upcoming destinations of eastern-central suburbs where some reputed builders and developers are constructing residential complexes and townships with worlds top notch amenities.
