Chembur : The Top Residential Investment Location in India


In 2012, a Knight Frank investment advisory report predicted that residential property prices in Chembur would appreciate by 125% until 2017. This prediction not only proved accurate, but shows no signs of abating in the coming years. One interesting new development is the entry of affordable housing projects in the area,that are available at low rates and are expected to yield high returns. What opportunities does this present for potential homeowners?

Recent changes in the regulations governing real estate have proven to be favourable for the average individual, as affordable housing was granted infrastructure status in 2017. This has marked the entry of large affordable housing players into Mumbai’s residential realty space. At the same time, lower interest rates coupled with the citizen-friendly Pradhan Mantri Awaas Yojana (PMAY) has increased the possibilities of homeownership to a greater number of individuals. This has meant that, despite the rapid increase in property prices in and around Chembur, the average family can still buy a home at an affordable rate and take advantage of property boom by selling or leasing the flat.

In 2015, JLL India demonstrated how demand, price point and growth prospects drive the property investment patterns in Mumbai. According to these indicators, JLL predicted, Wadala, Bandra and Chembur were singled out as some of the hottest destinations for real estate investment. Of these locations, Chembur in particular stands out for it close proximity to the airports, South Mumbai and the city’s western suburbs. Additionally, the Eastern Freeway offers fast and trouble-free travel to CST and Nariman Point on one side and Navi Mumbai, CBD Belapur on the other, while the Santacruz-Chembur Link Road (SCLR) connects to commuters to the employment hubs of BKC, Santacruz as well as the international airport. The Chembur-Wadala monorail offers a quick commute to eastern and south eastern suburbs of Mumbai, and the Versova-Ghatkopar metro-rail project has linked the western and central corridor. With reduced travel time to work hubs like Bandra-Kurla Complex, Andheri, Vashi, CST & Nariman Point makes Chembur the most well-connected suburb of Mumbai.

When not commuting into the city centre, Chembur can provide an oasis of calm to counterbalance the stress of modern life as open public spaces such as Gandhi Maidan, Annabhau Sathe Garden, Diamond Garden, Ambedkar Udyan and Jawahar Grounds bring nature into residents’ everyday lives.

Many reputed real estate developers have recognised the potential of Chembur and are investing in the area at an unprecedented pace. Of these recent developments, Xrbia and Crystal developers project stands out for its commitment to affordable housing. Designed by renowned architect Hafeez contractor their new project Chembur Central promises to combine affordability with luxury. A 1BHK home will cost as low as 42 lacs and will cater to the millennials who crave affordability, convenience and efficiency. For all first-time home buyers, the future looks bright in Chembur.

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