Which Residential Areas Provide The Best Real Estate Investment Opportunities in the Mumbai Metropolitan Region in 2022/23?

The western suburbs, central suburbs, and outskirts of Mumbai have some of the most in-demand real estate markets in the Mumbai Metropolitan Region (MMR).

The Mumbai Metropolitan Region, or MMR, hosts the majority of Mumbai's real estate industry. On the Mumbai real estate market, buyers and investors may choose from a variety of popular neighbourhoods and districts.

Buyers in Mumbai are now spoiled for choice owing to the increasing emergence of new residential structures.

In the second quarter of 2022, the Mumbai Metropolitan Region (MMR) had the largest proportion of new residential releases among the top six residential markets in India (nearly 40 percent).

However, more solutions need further consideration. As a result, we will examine the most common spots in MMR and the likelihood that they may aid in your evaluation.

Andheri to Malad

In August of 2022, more over sixty percent of all property registrations were placed in the western suburbs. Numerous homeowners and investors are attracted to the Andheri-Malad corridor because of the area's numerous benefits. The micromarket of Mumbai, according to the manager of a real estate marketing business, provides a high rental yield and return on investment (ROI). In addition, the location allows convenient access to other areas of the city, which has contributed to the strong demand from real estate investors and buyers.

The future Goregaon-Mulund Link Road (GMLR) would increase east-west connection and reduce traffic congestion on the -JVLR, which will be of considerable advantage to the residents of this neighbourhood. Sachin Wagh, a real estate agent, affirms that Andher-Malad provides a variety of housing alternatives, ranging from affordable to luxurious. Since it is one of the most well-known residential and business centres, the majority of recent property buyers, particularly middle- and upper-class professionals, are moving there. Andheri West and Malad West have ascended to the rankings of two of MMR's top 10 localities with the highest sales of residential property between January 2022 and June 2022 due to their accessible location and solid social infrastructure.

Since the centre suburbs are competitive with the western suburbs, buyer interest is significant. According to a recent survey of the MMR real estate market, around 5% of purchasers from the western suburbs have shifted to the centre regions. In the second quarter of 2022, central suburbs had the largest proportion of new releases (almost 30 percent) and the highest MMR (overall).

Due to the rise of large-scale residential buildings there, the central suburbs have become a haven for homebuyers.

The region is growing more popular due to its closeness to a range of facilities, including schools, hotels, hospitals, and entertainment venues, as well as its lush surroundings and inexpensive housing costs. Outstanding residential constructions have made the region desirable to individuals in search of wealth.

Formerly employed as an industrial corridor, the area between Kanjurmarg and Mulund has lately become a desirable residential neighbourhood. Praful Sahani, a notable real estate agent in the area, asserts that Powai, Vikhroli, Airoli, and Thane are easily accessible through commute. Good news for end users and investors is that residential, commercial, and infrastructural improvements are being made in preparation for the future Metro 4 line.

Is there a particular reason why individuals gravitate toward rural areas?

Mira Road East swiftly jumped to the top as the most popular area for homebuyers in Mumbai, according to a research of the finest micro markets in MMR that covered the period from January to June 2022.

Even though it is on the outskirts of MMR, its calm ambiance, lush flora, and breathtaking views have made it a desired residential neighbourhood. A four-lane Gorai-Bhayandar road, as well as other connecting roads and flyovers for metro lines, are among the many exciting projects planned to further strengthen the region's connectivity, which has already grown by leaps and bounds.

There are other more peripherals in the top 10 MMR specialised markets. Ten are in Kharghar, three are in Virar West, five are in Kalyan West, and nine are in Shirgaon (10th place). Because of the improvements made in the social and civic infrastructure, homebuyers are taking a second look at these regions. Kharghar in Navi Mumbai, for instance, is home to a variety of firms that attract working professionals, hence contributing to its prominence as a commercial and residential centre.