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5 Reasons Behind the Growing Demand For Flats in Goregaon East

Author
Blox Social
Posted on
Jul 20, 2023
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In addition to being one of the oldest localities in Mumbai, Goregaon East is also one of the poshest neighbourhoods in the city. Situated along the border of Sanjay Gandhi National Park, the locality is quite famous for housing major Bollywood studios, including Filmcity and Filmistan. While earlier, the real estate development in the area was restricted to a few apartment complexes; today, it has become a major residential hub for people seeking affordable living solutions at a prime location. With the number of people showing interest in buying flats in Goregaon East increasing consistently, the locality is witnessing significant growth in real estate development. Other reasons that make investing in property in Goregaon East a great choice are discussed in brief as follows.  

Great Connectivity With Other Parts Of Mumbai

Goregaon East offers the advantage of excellent connectivity with other localities of Mumbai. The Western Express Highway, New Link Road, and Swami Vivekananda Road run through the locality, providing easy commutation options for the residents. The area has an extensive bus service, and the Goregoan and Oshiwara Bus depots are located close by. The locality also offers decent rail connectivity through Goregaon East railway station, as well as Malad and Ghatkopar railway stations, which are only a short distance away. The Mumbai Metro Red Line that runs along the Western Expressway also has a stop within the locality. 

Proximity To Commercial Hubs

Goregaon East is located quite close to various commercial and industrial hubs. The Santacruz Electronic Export Processing Zone, The Samruddhi Venture Park, Spectrum Tower, and Magnus Tower are some major commercial hubs located within a 10 km radius of the locality. The area is also only a short distance away from the commercial centres and IT parks located in Andheri and Malad. Most importantly, several renowned companies have opened their offices or branches in the area itself. Thus investing in flats in Goregaon East proves to be the best choice for people keen on cutting down their commute time to work and enjoying quality time with their loved ones.   

World-Class Amenities and Provisions

Living in Goregaon makes perfect sense for people seeking an opulent lifestyle with easy access to excellent amenities and facilities. From education to healthcare and shopping to entertainment, Goregaon East offers everything that people need to enjoy a comfortable and luxurious life. The area houses renowned educational institutions like Vibgyor High School and Oberoi International School. There are also several renowned hospitals, including Nanvati and Hiranandani Hospitals, in the area. People can also enjoy an exclusive shopping experience at the various upscale malls in and around the locality. The presence of numerous high-end restaurants provides multiple avenues for a fine dining experience for the residents. 

A Safe And Pleasant Neighborhood

Goregaon East is one of the safest neighbourhoods in Mumbai, and the presence of abundant natural beauty makes the locality quite pleasant. The roads are wide, well-maintained, well-lit, and free from potholes which minimise the risk of accidents and enhance the safety of the commuters. The locality is well-planned, and there is a regular supply of fresh water along with near-zero electricity cuts. In recent years, the locality has gained much popularity as an upscale locality offering the perfect combination of the best facilities and luxurious living. 

Reasonable Property Price

Another reason that makes investing in flats in Goregaon East a wise decision is the relatively affordable price. The cost of newly constructed flats in Goregaon is one of the lowest in Mumbai, which is what makes it attractive for homebuyers. The best thing is that the investors still get to enjoy the benefits of excellent connectivity, great infrastructure, and high-end living at a significantly lower price. The average per-square-foot price of apartments in the locality is around ₹ 29000.0. The average Y-O-Y increase in prices in the area has been registered at 4.4%. Most people investing in real estate in Goregaon prefer 2 or 3-BHK flats, although 1 and 4-BHK apartments are also in demand. There is also a huge market for rental apartments in the area, which makes it an ideal real estate investment destination for people buying second or third homes. 

Conclusion

Goregaon East is an upscale locality that promises a high-end life with the best facilities and amenities within easy reach. Hence it is not surprising that investors are driven to the locality in large numbers. 

Real Estate