5 Reasons Why Real Estate Demand in Chembur Is Increasing

Though one of the most expensive cities to live in, Mumbai continues to serve as one of the crucial drivers for the real estate market, with specific locations pacing this development, including the upmarket suburb Chembur, located in the northwestern corner of Trombay Island. Some of the demographic features of the central Mumbai location include the following.

• A population of above four lakh residents.
• The area stretches up to 16.28 sq km.
• A marine alluviam-type soil
• Nearest airport aerial distance: Chattrapati Shivaji International Airport (4.32 km).
• Nearest railway station aerial distance: Lokmanya Tilak Terminal (2.05 km).
• Mumbai Monorail Line-1
• Santacruz-Chembur Link Road

Given its proximity to business hubs in the commercial capital, such as Bandra Kurla Complex (BKC), Lower Parel, and Andheri East, Chembur has witnessed a massive surge in its real estate demand, with top developers playing to the gallery. With new and exciting projects in the making, the area's current price per sq foot stands at ₹19,570. For example, an 1 BHK in any of the upcoming residences could cost you a minimum of ₹70 lakhs. 

What makes Chembur so unique?

The Mumbai central location caters to everyone’s choices, offering religious sites, parks, and malls. Let's look at some top things to do when visiting Chembur.

• Dhakleshwar Mahadev Mandir
• Jarimari Mata Temple
• Ajmera Bhagto Park
• K Star Mall and Cubic Mall

Thus it is no surprise that the real estate demand is at an all-time high. Let’s have a look at some of the reasons to buy a property in Chembur. 

1. Offers great connectivity

Enjoying the benefits of being strategically located close to BKC, Lower Parel, South Mumbai, and Central Mumbai, Chembur is one of the top real estate choices for office-goers to beat the Populous City’s traffic. Another facet working in its favour is its proximity to the International airport, eastern and western express highways. The Monorail plays another booster to the entire transportation system. 

2. Growing Social infrastructure

Chembur’s growing infrastructure isn’t limited to residential and commercial real estate. Over the years, there has been an onset of schools, hospitals, and colleges in the locality, providing world-class services, which helps attract the family segment of customers for investment purposes.
Educational institutions such as the following:

• Loreto Convent School
• St. Gregarious High School
• Tata Institute of Social Science

Medical healthcare facilities are as follows.

• Apollo Spectra Hospital
• Mumbai Heart Clinic
• SRV Hospital

3. Offers luxurious yet affordable flats

Less densely populated than other city localities, Chembur offers spacious and luxury flats at affordable rates, with top developers stacking up the best amenities. For example, A  2 BHK at 5th Avenue Prasanna Aura, RERA registered, could cost you anywhere, starting from  ₹1.58 crores. 

4. Better lifestyle and growing recreational facilities

The middle-class today has evolved with time, possessing an increased purchasing power and a higher standard of living. Hence, Chembur fits the bill, offering recreational facilities like the Bombay Presidency Golf Club, Chembur Gymkhana, K Star Mall, Cubic Mall, Fun Cinemas, and various other avenues for entertainment. 

5. The growing industrial hub

Many top industries have offices in Chembur, making it an epicentre for employment generation, ultimately leading to social and realty infrastructure growth. Here is a list of some top industrial players in the northwest corner of Trombay Island.

• Bharat Petroleum Corporation Limited
• Rashtriya Chemical and Fertilizers Limited
• HPCL
• Bhabha Atomic Research
• TATA Power

To understand more about Chembur’s growing real estate demand, let's look at some prime residential projects that have contributed to this upmarket neighbourhood’s infrastructure.

1. 71 Midtown

• Offering 1 and 2 BHK flats
• Price range starting at ₹83 lakhs 
• RERA carpet area: 350-550 sq. ft
• Completion Date: December 2025

2. Aayush Arna

• Offering 1,2,3 and 3.5 BHK flats
• Price range starting at  ₹1.5 Cr
• RERA carpet area: 383-1060 sq. ft
• Completion Date: June 2023

3. Aayush Aura

• Offering 1 BHK flats
• Price range starting at ₹97.92 lakhs
• RERA carpet area: 408-415 sq. ft
• Ready to launch 

4. Aayush Gulmohar

• Offering 1 BHK, 2 BHK, 2.5 BHK, and 3 BHK
• Price range starting at ₹99 lakhs
• RERA carpet area: 421-859 sq. ft
• Completion Date: December 2023

5. Aayush Poornima

• Offering 3 BHK flats
• Price range starting at 3.3 Cr
• RERA carpet area: 1001 sq. ft
• Ready to launch

6. AHCL Zynergy 

• Offering 2 BHK flats
• Price range starting at ₹ 2.01 Cr
• RERA carpet area: 615 sq. ft
• Ready to launch

7. Akshay Paradise

• Offering 2 BHK flats
• Price range starting at  ₹1.25 Cr
• RERA carpet area: 568 sq. ft
• Ready to launch

Chembur is expected to see massive growth in the real estate sector as the days pass, given its strategic location, and other advantages as developers throng towards the customers with exciting projects, it is an interesting time to be on the buyer side of schemes, as builders try to compete in delivering them the best product.