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Mumbai has witnessed mammoth growth in the real estate sector in last few decades. The factors such as price trend, demand for the city and prospecting potential has constantly contributed towards the growth in the real estate sector for this Island City. The ever time attractiveness and the increasing demand in the city has led it to grow leaps and bounds. Considering these factors, noted above the city has induced huge demand which has in turn formed destinations towards the north of Mumbai – Vasai Virar belt up to Boisar, North East – Thane to Kalyan Belt, South east – Navi Mumbai and Eastern Mumbai – Neral ,Karjat –Ambernath belt.

                                                           Factors driving their growth

  • The primary factor driving the real estate growth in outskirts are skyrocketing prices in Mumbai suburbs coupled with Compact real estate housing options available at an affordable prices
  • Another factor driving the demand in the outskirts is planned and upcoming infrastructure around this area. The proposed international airport in Navi Mumbai, upcoming metro line connecting Navi Mumbai to eastern suburbs and already implemented Sion-Panvel Expressway apart from this various highway connectivity are an added advantage
  • Another sparkling factor is creation of employment opportunities in the outskirts. The shifting of economic gravity from the commercial districts of BKC or Lower Parel towards the outer regions has opened great employment gateways with the area. A fine example of this is Thane, Vashi, Airoli and Panvel which turned from sparsely barren land to most attractive commercial destinations.
  • Ample availability of space for real estate projects as compared to island city
  • The return of investments: the outskirts of Mumbai has quoted an increase of 80-85% since 2009 to 2014 whereas Mumbai has just recorded a growth of 75% in the same time span (quoted by CII and JLL India)

Mumbai outskirts are equivalently attractive as Mumbai locations because of infra support and growth prospects. The outskirts of Mumbai has underwent huge change over the last decade.  Now, staying in outskirts is no more considered to live away from infrastructure, commercial developments and live in inconvenience. In spite, the outskirts has eventually emerged as ideal destinations with equivalent or upgraded amenities and facilities that to at much lower cost.

                                                                 Attractive offerings

  • Lower property prices, amenities and supporting infrastructure on the outskirts are the base of attraction
  • One can easily plan or dream of luxurious elements required for their property which will fit in their budget options
  • Large integrated townships with availability of social infrastructure within the premises are an great advantage for end users
  • The biggest advantage of staying in these large integrated township that it facilitates modern and cosmopolitan living

 

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