A matter of appreciation: nine micro markets
June 17, 2019
Mumbai
These emerging realty hotspots of the city are touted to appreciate in a decade. We have all the details...
Mumbai is undergoing a sea change in the infrastructure domain. Multiple residential and commercial properties are cropping up across the city; a plethora of infrastructural development projects are underway in Greater Mumbai and estimated to be completed in the next decade. These projects are touted to significantly improve the lifestyle and convenience quotient of not only the areas in which they are situated, but also the entire city.
So here's a list of micro-markets that will witness the maximum appreciation due to the ongoing infrastructure upgradation. Thus, investing in these areas now may benefit you in the future.
This region is witnessing development at an unprecedented rate in terms of infrastructure and connectivity, namely the Panvel-Virar railway corridor announced in the Mumbai Urban Transport Project 3A;
The existing transport infrastructure of the region is expected to see an overhaul with the upcoming metro projects;
The key drivers for growth in this region is improving infrastructure, changing urban demographics and affordability.
Kolshet Road
The Metro 4 will provide seamless connectivity from Wadala to Ghatkopar and then to Thane;
Due to its strategic location near the Ghodbunder Road, it is likely to yield healthy returns in both the capital and rental markets;
Ashok Mohanani, VP, NAREDCO Maharashtra
This erstwhile industrial belt is gradually accommodating modern residential projects;
Metro line 2A connecting Dahisar with Bandra and Mankhurd will provide a boost to the area;
The coastal road will connect Charkop to all upscale residential clusters on the west coast.
Goregaon East
The metro line 7 and Goregaon Mulund Link Road will soon catapult this micro-market into an important East-West corridor;
The Harbour line from CSMT to Goregaon is expected to further increase up to Borivali by the end of 2020 further adding commuting options and improving the ease of living in the area.
Andheri East
The SEEPZ-Colaba Metro 3 is expected to give a boost to the area's residential demand;
A couple of major international brands have established their base here, thus putting the area under the spotlight;
The area has a number of residential projects; you are bound to find a space that suits your budget.
Suvishesh Valsan, associate director, valuation and advisory (Mumbai) at Colliers International India.
Seepz
This area is converting from an unorganised residential to an organised premium residential market;
Several mega projects by leading developers are present in the area;
The SEEPZ-Colaba Metro line 3 and the East-West Lokhandwala-Kanjurmarg line 6 will significantly improve the connectivity of this micro-market.
Wadala-Sewri
The area is making way for high-end luxury residential apartments;
The metro line 4 will help improve connectivity with the Eastern Corridor up to Thane;
A big boost is expected to come from the upcoming Trans Harbour sea-link (thus connecting the Navi Mumbai airport);
MBPT redevelopment project, namely the Eastern Seafront makeover (includes creation of lifestyle public amenities such as gardens, cycle tracks, seaview promenades, cruise terminals, etc) would also be beneficial.
Badlapur
The Panvel-Karjat railway line is expected to set a record by combining the two extreme points, thereby opening up a new residential/ commercial micro-market in the city;
A key highway connecting Kalyan and Karjat passes through the region;
The upcoming metro project in the region and the Vadodara expressway will be the key drivers of growth in the region and make the commute faster and better.
Rohit Poddar, joint secretary, NAREDCO West
Panvel
Panvel has emerged as the epicenter of infrastructure and transport projects;
Not only the Navi Mumbai International Airport (NMIA) but also the Panvel-Virar and Panvel-Karjat corridor would provide a boost to the area;
The exponential demand for home in the region has paved way for development of commercial spaces;
Planned connectivity between Pune and Mumbai will give a major push to residential and commercial real estate.
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