Good connectivity helps grow Chembur real estate
The real estate market in Chembur is witnessing a constant growth because of its good connectivity with other areas. It is one of the well known eastern suburbs in Mumbai.
According to a Knight Frank report, in few years time, Chembur will be one of the areas witnessing a good price appreciation in properties.
Properties in Chembur have already started showing a hike with continuous price appreciation of 10-15 percent from the past six months and will continue to see a similar trend in coming months.
Currently, a multi-storey apartment in Chembur costs somewhere in the range of Rs 12,000 – 15,000 depending upon the size of the apartment while rental rates range from Rs 30,000 -50,000 depending on a 2 – 3 BHK apartment.
Some of the infrastructural developments which have come up in the vicinity are the reasons for the price appreciation. Some are Chembur-Wadala monorail phase -1 and Eastern Freeway from Colaba to Chembur. The former is all set to go live for the public and the latter will also be functional soon.
Another reason for price appreciation as cited by a developer is the availability of less land as compared to the demand.
The phase -1 of monorail project is in its final stage and BKC and Lower Parel commercial realty markets are also in the vicinity making Chembur a top destination from real estate investment perspective.
Furthermore, Eastern Freeway project will bring Mumbaikars closer to their 25-minute dream drive from Colaba to Panjarpol in Chembur. Now, it takes two hours to reach from one stop to another destination.
Apart from these projects, Chembur is located only 22 kms from downtown Mumbai and 20 km from Chhatrapati Shivaji International Airport. The locality is an end user driven realty market. People who buy apartments in this locality are usually high designated professionals. The ratio between end users and investors would be 80:20 because of its good connectivity.
As per data, 3 BHK apartments in Chembur have been seeing highest demand than other options. The big apartments are demanded mainly by professionals shifted from Gurgaon and Bangalore who are adapted to live in these type of luxury apartments.
Related Real Estate News:
Titwala grows as an affordable real estate option
Sewri in Mumbai attracts home buyers
Demand for rentals in Cuffe Parade in Mumbai grows
3 BHK apartments in Chembur, apartment in Chembur, Apartments in Chembur, BKC, buy apartments, Chembur, Chembur in Mumbai, Chembur-Wadala monorail phase -1, Chhatrapati Shivaji International Airport, Colaba, Eastern Freeway, Lower Parel, Luxury Apartments, Mumbai, Panjarpol, properties in Chembur, Real estate investment, real estate market in Chembur
