Mumbai’s eastern suburbs have witnessed increased realty demand in recent years
In the last few years, a noteworthy increase in residential-property demand has been witnessed by the eastern suburbs of Mumbai; with the result that these areas are now being counted among the ideal housing destinations in Mumbai.
Mumbai’s eastern suburbs, sprawling from Kurla to Thane on the Lal Bahadur Shastri Marg, have been rather low-profile in terms of real estate demand, in the past. However, the area is now emerging as Mumbai’s next commercial hub; boasting small office complexes and new-age retail destinations.
With realty demand on the increase in the eastern suburb area of Mumbai, the area has become a notable competitor to its southern and western counterparts, which include Nariman Point, WorliLower Parel and BandraKurla Complex, among others.
The reason behind the increasing real estate demand in eastern suburbs is that it has witnessed maximum infrastructure development in the recent years; thereby making it a particularly attractive destination for investors.
Drawing attention to the fact that eastern suburbs now have expedient connectivity with the rest of Mumbai, Venkatesh Gopalkrishnan – EVP and CIO of Shapoorji Pallonji Real Estate – said: “The construction of the Eastern Freeway has drastically reduced the commuting time between the commercial hub of south Mumbai and central suburbs… This has definitely led to a spurt in the real estate demand in these areas thereby, leading to a rise in the construction.”
Source – The Times of India
CIO of Shapoorji Pallonji Real Estate, eastern suburbs of Mumbai, housing destinations in Mumbai, property in Mumbai, Real estate demand, Real estate in India, south Mumbai and central suburbs, WorliLower Parel and BandraKurla Complex
