The former low-profile eastern
suburb of Mumbai, stretching from Kurla to Thane on the LBS Marg, is soon turning
into the next profitable hub of the city with major office complexes and lush
residential towers. There is a rise in property developers in Thane & Mulund due to the escalating demand in the
eastern suburbs of Mumbai. This is
gradually giving strong competition to its southern and western counter areas
such as Cuffe Parade, Nariman Point, Peddar Road, Worli-Lower Parel, Andheri
and BKC, among others. Although
Mumbai’s real estate souk witnessed a general slowdown in 2015, there was a sound
shift of housing and office sectors towards the eastern suburbs, as per survey
done by Puneet
Developers.
Previously, the eastern region was
well thought-out as an unorganized industrialized zone but with the speedy
infrastructural development, the areas of Thane, Mulund, Bhandup, Kanjurmarg,
Ghatkopar, Vidyavihar, Kurla and Chembur, have undergone noticeable changes.
As per official
statistics given by Puneet
Developers- one of the top property developers in Thane, the eastern suburbs and tangential areas,
conventionally seen as the inferior cousins of the plusher isle city and
western suburbs, are the most favored locations to establish homes and offices
this year.
Records explain that while average property rates in
some of Mumbai’s more “well-known” pockets in the island city and western
suburbs hardly shifted, several pockets in the eastern suburbs such as 2BHK flats in
Tagorenagar Vikhroli jumped by around 20-25 per cent. Mumbai is recognized
as the India’s most pricey real estate market.
A Punit Group spokesperson talking about the development said, “With
the availability of terrain, places like Vikhroli, Mulund & Thane have turn
into a hotspot for residential markets. Thus, Punit Group has started off with potential projects in Vikhroli
& Thane such as Sanjiavni
tower in Tagore Nagar Vikhroli and Kanchanganga in Vartaknagar Thane.
The upcoming Sanjivani tower in Tagore Nagar Vikhroli by 2018 will all set to be offer affordable
& resident-friendly homes. Buyers can invest in 1 BHK & 2BHK flats in Tagorenagar Vikhroli at rates that are
comparatively less than those in the other localities of Mumbai. Besides
offering top-notch & spacious 2BHK &
1BHK flats in Tagorenagar Vikhroli, buyers can also take advantage of the major infrastructural developments like the Eastern Express
Highway and the Eastern Freeway, which have made it trouble-free to connect
with Mumbai City. While the Mumbai metro rail and other monorail projects, will
further improve connectivity”
Another booming real estate
market in Mumbai’s prominent eastern suburbs is Thane. There are many real
estate developers in Thane such as Punit
Group in Thane offering
investors a variety of reasonable & high ROI options. These real
estate developers in Thane believe that the most
infrastructure development in the last 5 years and prime projects such as Kanchanganga in
Vartaknagar Thane are making the suburbs gleam more and a lot of interested investors
in the area are grabbing these investments as they find major amenities &
comfort.
By the end of 2018, it is
estimated that a large number of buyers will be cashing on 2 bhk flat in vartaknagar,
ghodbunder road & kolshet in Thane
