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The Benefits of Investing in Mumbai’s Suburbs
Introduction
Mumbai, the commercial capital of India, is a bustling metropolis with a population of over 20 million people. The city has grown exponentially over the years, with the central business district and prime residential areas becoming increasingly congested and expensive. This has led to a rise in demand for properties in the suburbs of Mumbai. In this blog, we will explore the benefits of investing in Mumbai’s suburbs, highlighting their affordability, amenities, and infrastructure.
Affordability
One of the most significant advantages of investing in the suburbs of Mumbai is affordability. Properties in the city center, such as Colaba, Nariman Point, and Malabar Hill, are amongst the most expensive in the world. According to Knight Frank’s Wealth Report 2021, Mumbai ranks 20th globally in terms of prime residential prices.
In contrast, the suburbs of Mumbai offer a more affordable option for investors. The suburbs of Thane, Navi Mumbai, and Kalyan-Dombivali are currently witnessing a surge in demand for residential and commercial properties. According to a report by ANAROCK Property Consultants, the average property prices in the Mumbai suburbs range between INR 6,000 to 15,000 per square foot, while in the city center, the prices can go up to INR 75,000 per square foot. This affordability factor is making the suburbs of Mumbai an attractive investment option for both end-users and investors.
Amenities
The suburbs of Mumbai are well-equipped with modern amenities that cater to the needs of residents. The suburbs have a range of shopping malls, multiplexes, hospitals, schools, and colleges. For instance, Thane, one of the suburbs of Mumbai, is known for its excellent educational institutions such as Smt. Sulochanadevi Singhania School, Universal High School, and DAV Public School. Similarly, Navi Mumbai has well-established hospitals such as Apollo, MGM, and Fortis.
Additionally, the suburbs offer better green spaces and a cleaner environment, making it an attractive option for families.
Infrastructure
Mumbai’s suburbs have seen a massive overhaul in infrastructure in recent years, with the introduction of new metro lines, flyovers, and roads, making it easier to navigate around the city. The Mumbai Trans Harbour Link, which is currently under construction, will connect Mumbai to Navi Mumbai, further boosting connectivity and easing traffic congestion. These infrastructure developments have made Mumbai’s suburbs more accessible, reducing travel time, and increasing convenience for residents and investors.
Conclusion
Investing in Mumbai’s suburbs can provide a host of benefits, including affordability, amenities, and infrastructure. With increasing demand and supply, it is an ideal time for investors to explore opportunities in the suburbs of Mumbai. As per the data, the future looks promising for Mumbai’s suburbs, with a rise in residential supply and increasing property prices, making it a lucrative investment option.
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