Metro a boon for real estate market

With the growing demand of real estate, there are many areas around Mumbai which have been coming into the limelight. According to the data and surveys conducted by one of the leading real estate portal, capital and rental values in Ghatkopar West have increased nearly 50% in the past 2 to 3 years. And seems like with the development of the VAG Metro, this percentage might further increase by 15% in the coming few months.

Versova-Andheri-Ghatkopar Metro

Versova-Andheri-Ghatkopar (VAG) Metro:

This is Mumbai’s first metro linking areas like Andheri, Western express highway, Azad Nagar and other areas like Airport Road and Sakinaka. So it also a connecting link between the east and west suburban areas of Mumbai.  This has not only enhanced the connectivity experience but also the property market. Due to this metro, the hectic travel time during the peak officer hours has been reduced and people can now reach from Versova to Ghatkopar in mere 20 minutes and they don’t need to change train at Dadar to reach their west suburbs offices anymore.

Why Ghatkopar:

With the decrease in traffic congestion and reduced travel time, the home buyers are looking for property in these areas. Nuclear family and young working couples who find property out of reach in areas like Andheri and Western suburban’s are now looking towards Ghatkopar for purchasing property. Currently there more than 60% people who are belonging to middle class families hence they are looking for localities which can provide them the basic infrastructure like schools, hospitals, banks and shopping centers. There is presence of some of the best known schools like Saraswati Vidya Niketan, colleges like NIIT and amusements areas like M G Road. These localities will have fewer burdens on their pocket. An average property value in area like Andheri is around Rs 18,500-24,000 /sq ft but areas like Ghatkopar offers the same at the rate of Rs 14,800-18,400/Sq Ft. We can see what a difference it makes in terms in property value.

We can see, even though the price of the capital is reduced, the covered area is much more. Even if we consider rents in these areas, they are way too low when compared to areas like Andheri etc. Rents in areas like Andheri is around Rs 52/Sq ft but the rent in Ghatkopar is around Rs 41/Sq ft. So, the rent one might be paying for 1 BHK in an area like Andheri is like paying rent for 2BHK in an area like Ghatkopar. At the end, lower cost of living, availability of necessary infrastructure and now the newly connecting VAG adds to the real estate market in Ghatkopar, which will be a treat for investors and as well residence seekers.

So, if you are looking out a property that is not only easy on the pocket but also good on the investments and return, then Ghatkopar West, Mumbai is your destination because it has potential for both investors and home seekers with best ROI in country.