Which is the best affordable area in Mumbai real estate?

When you’re planning to buy a spacious and lavish apartment, Mumbai is the city that you must consider. Across many years, the city has always been brimming with activity. You will also come across diverse opportunities for investing in real estate. Among the different places, you can think about settling in Andheri, Chembur, and Borivali. Your family can also lead a happy lifestyle in regions across Navi Mumbai. While these offer high returns on investment, they have been known for immense infrastructure development. Additionally, these places are closer to established commercial hubs. But, do you know which places are affordable when you make a decision? Well, let’s check budget friendly residential areas in Mumbai. 

Top 10 Areas in Mumbai for Property Investment

Investing in a property in Mumbai can sound challenging at the first instance. You may not consider purchasing a flat due to high prices. But there are several areas across the metropolitan city where you can find affordable housing. Here are the top ten areas that are always known for properties within a budget. 

#1 Andheri

Known to be the busiest place in Mumbai, Andheri has always been on top of the list. As the suburb is closer to the international airport, professionals prefer settling in this place. Besides, individuals can revel in the vibrant nightlife with Lokhandwala Complex a distance away. Owing to significant development, you can also expect better connectivity. Even when you might grow conscious while investing, there are many affordable housing options available. Moreover, you can expect capital to appreciate as the value of properties continues to increase.

#2 Panvel

Located away from the main city, Panvel promises a better future among budget friendly residential areas in Mumbai. Many families prefer settling in Panvel because it is near the Mumbai-Pune expressway. The demand in real estate will also grow due to the Mumbai Trans Harbour link and Navi Mumbai Metro. Moreover, the place is appealing to families because there are many educational institutions. These include Pillai College, Karnala Sports Academy, Mahatma College, and more. Several medical facilities are also present in and around Panvel. But, you may perceive a difference in property prices even when you want to bask in luxury. 

#3 Kharghar

This place is always known to be a part of Navi Mumbai. Even when there’s greenery across regions, you will notice significant development. While Kharghar Hills and the Central Park are places for spending time, your family can also enjoy the Utsav Chowk. Many families also opt for a house because there is adequate social infrastructure. The region has many prestigious educational institutions. Among these, you will find NIFT and the Bharati Vidyapeeth College of Engineering. Your family can also seek immediate medical assistance at a healthcare facility. Furthermore, you can also check out ready to move projects in Khopoli. 

 #4 Thane

For a long time, Thane has been the ‘City of Lakes’. But, with time, people have considered it among budget friendly residential areas in Mumbai. As the city is not quite far away from the Eastern Express Highway, it has been among the preferences. While you can expect affordable housing, you can also gain the most from modern amenities. Besides, shopping destinations, and parks can augment your family’s lifestyle. A thriving commercial hub is also present along the road of Ghodbunder. In the future, a few metro projects will enhance connectivity for many families. 

 #5 Goregaon 

Located towards the west side of Mumbai, Goregaon is also an ideal place to settle. As Film City has progressed with time, the place has also been among the preferred choices. The city also brims with activity as people continue to visit Filmistan Studios and Oberoi Mall. But, with infrastructure developing at a rapid pace, you can expect improved connectivity. The place is also known for the cost of living, especially when close-knit families reside. Every family can strike a fine balance between the quality of life and affordability.  

#6 Bandra 

Bandra has always been a place of residence for the elite class of individuals. As you head for a long drive across the Sea Link road, you can view the Arabian Sea. You can also have an enjoyable time at Carter Road and Bandstand Promenade. Many eateries are also proliferating as development continues to be in progress. Without any doubt, the BKC and the Western Express Highway have further enhanced the interest of families to settle.  

#7 Juhu 

Still seeking a place to enjoy a great lifestyle? Well, you can consider Juhu, which is known for its spacious residences. While many eminent personalities live in Juhu, the place offers many options for housing. Anybody who resides in the place can expect excellent connectivity to many commercial hubs. To name a few, these are Dadar, Parel, and BKC. Apart from everything else, there are many spots to hang out along with the sandy beach.

#8 Chembur

This place is always known as a suburb in the central area of Mumbai. While the eastern freeway adds to connectivity, the area has many schools and hospitals. Once you settle, you can also spend a great time at the Ambedkar Udyan and Diamond Garden. Apart from affordable housing options, the region has many modern apartments. Hence, if you’re buying a house for the first time, then Chembur should be among the list of places. Besides, you can consider this one of the budget-friendly residential areas in Mumbai. You can purchase premium flats at the best price.

#9 Vikhroli

Situated towards the eastern side of Mumbai, Vikhroli can be a great place to settle. While people are still observing rapid development, the place has Godrej One, a popular business park. Professionals also prefer staying in Vikhroli because of the good connectivity. A drive along the Eastern Express Highway can simply take them to places in less time. On the whole, Vikhroli presents commercial as well as residential areas. The infrastructure projects are also adding to Vikhroli’s overall growth.  

#10 Malad

Last on the list we have Malad, which is in West Mumbai. This area is well connected by roads and easily accessible. Across a span of many years, people have also observed the development of commercial spaces. Without any doubt, Malad is ideal for bringing up a family. Various schools, and hospitals are established in this area. Subsequently, the area is near business hubs, and hence it is appealing to professionals. Even when there are fluctuations, the trend signifies a steady hike in the values of properties. So, when you invest, you can gain better returns.

Conclusion

Finally, you can approach Unimont once you plan to buy a house with modern amenities. While we design spaces with high-quality, you will be satisfied with our team’s craftsmanship. 

FAQs

Which area is affordable for a property in Mumbai?

Thane, Panvel, and Andheri are some places that are affordable for buying a property. 

Which place can give high returns on real estate investment?

The southern part of Mumbai will give high returns on investment in real estate. 

Which region in Mumbai is significantly developed?

Malabar Hill is the most developed region in Mumbai.