Top Areas for Buying Luxury Flats in Mumbai
Need help with buying luxury flats in Mumbai? There are various locations in and around the city where you can buy a luxurious yet affordable property in Mumbai.
Need help with buying luxury flats in Mumbai? Here are some of the locations in and around the city where you can find some exciting property options.
Kharghar, Navi Mumbai
This is one of the well-planned areas in Navi Mumbai that offers luxury as well as affordable flats for buyers and investors. Developed by CIDCO, Kharghar has 45 sectors and it is quite close to Belapur CBD. Infrastructure growth in this node of Navi Mumbai has pushed the demand for residential as well commercial properties. From wide roads and skywalks to entertainment venues and a golf course, this area has a lot to offer to potential home buyers.
This area has turned into a real estate hotspot for wealthy buyers and NRIs who are looking for attractive investment opportunities in and around Mumbai. It has also attracted buyers from Pune and Nasik due to close proximity. After Vashi and Nerul, it is one of the third most developed nodes in Navi Mumbai. This part is quite scenic and has waterfalls, hill views and caves.
Another well-developed location, Aroli’s growing real estate market is attracting a lot of attention from home buyers. This location is well connected to Vashi and Nerul through bus and rail line. It is also connected to Mulund and Mumbai from the Eastern Express Highway. Various reputed developers are launching their luxury residential projects in Airoli, catering to the demand of buyers who wish to avail luxury living at affordable rates. The serene and scenic Airoli-Ghansoli-Koparkhairane stretch has become a hotspot for home buyers. According to the real estate experts, the annual property appreciation rate in Airoli will be anywhere around 15-20% which is quite good.
Compared to other parts of Mumbai, this area offers luxurious yet affordable property options. Due to the sluggish market for property in Mumbai, buyers and investors have started exploring areas like Airoli and Kharghar. Majority of demand is for 2BHK and 3BHK flats.
Panvel (Navi Mumbai) has also emerged as a promising location for real estate buying and investing. It is one of the most developed zones in Navi Mumbai, situated in close proximity to Alibaug and Pune. With reputed builders launching their luxurious projects in Panvel, this area has attracted a lot of attention from buyers looking for affordable yet stylish homes.
People can easily commute from Pune to Panvel as it is located near to Pune Express Highway. Due to this factor, buyers from Pune have been showing great interest in buying luxury flats and villas in Panvel.
Besides Airoli, Panvel and Kharghar, Ulwe is also an attractive hotspot for real estate investment in Navi Mumbai. It is a quite suburb, separated from Belapur by the Panvel Creek. Initially, Ulwe was predominated by fishing villages but today, this suburb has become a sought-after location for developers. They are launching exciting new projects in this area, catering to the rising demand for stylish homes at affordable rates.
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ABOUT THE AUTHOR
Shruti works as an agent for luxury flats in Mumbai. She is also an avid real estate blogger and her write ups mainly focus on the market for property in Mumbai.