Oshiwara is a sub-locality of Mumbai that is situated quite close to the Lokhandwala Complex and between the western edges of Goregaon and Jogeshwari. The area gets its name from the Oshiwara River and is a relatively new real estate market compared to other locations around it. In recent years, several new residential and commercial projects have been launched in the area attracting investors in large numbers.
The booming real estate development in Oshiwara has turned it into a major residential and commercial hub in the western Mumbai region. The area comes under the Brihanmumbai Municipal Corporation. Oshiwara is a great locality to enjoy the benefits of a premium lifestyle, and people interested in investing in property in the locality need to be aware of the following facts.
For Buying Property
The number of properties available for sale in Oshiwara is not too high, with only a little more than 100 properties listed in the market. However, the investors can be sure of getting a decent profit on their investment given the Y-O-Y change in prices for apartments in the area is around 23.3%. The average price per square foot of the apartments is around ₹ 22400.0. Some prominent real estate projects offering a decent year-over-year (YOY) return on investment in the area include Supreme 19, with a YOY of 24.0%; Paradigm El Signora, with a YOY of 15.3%, and The Park Residences, with a YOY of 18.2%. Another key feature of properties in this area is that they offer open spaces and are primarily designed for the mid and upper-mid-income segment.
For Renting Property
The number of properties available for rent in Oshiwara is extremely limited, with only about 30 properties listed on the market. The average monthly rent in the area rent in the area is between ₹20700 and ₹143700. Of these, around ten properties are within the affordable range with an average rental value of less than ₹40000/month. Only a couple of properties fall within the mid-segment range and have a rental value between ₹40000 and ₹50000/month. There are just about ten properties in the premium range and having a monthly rent of more than ₹50000. The Park Residences, Supreme 19, and Shreedham Splendour are among the most popular societies for renting a property in Oshiwara.
Reasons For Investing In Property In Property In Marol
As mentioned before, Oshiwara is located quite close to some of the oldest and most well-developed suburbs of Mumbai. Hence the area offers great infrastructure and excellent civic amenities to enhance the comfort and convenience of the people investing in property in this area. Some important features that make Oshiwara a great place to enjoy a peaceful and comfortable lifestyle are explained below.
- Affordable Property Rates
Nearly 12% of all the properties available for sale in Oshiwara are priced between ₹80Lac - ₹1Cr, while 11% of properties are priced above ₹5Cr. As is the case in most other localities in Mumbai, 2BHK apartments are the most preferred choice of investors, and hence 46% of properties are of their configuration. Moreover, 91% of the projects in Oshiwara are in the form of multistorey apartment complexes creating a perfect setting for modern living.
- Great Connectivity Options
The Ram Mandir Railway Station (on Western Line) offers a great connectivity option for people travelling by train. The locality is also situated quite close to SV Marg, New Link Road, and Jogeshwari-Vikhroli Link Road (JVLR), which offer seamless connectivity to various parts of Mumbai. In addition, the Line 1 metro station of DN Nagar is also located at a short distance from Oshiwara, Line 2 from Dahisar – Mandale, and Line 6 connecting Swami Samarth Nagar to Lokhandwala Complex and Vikhroli have also helped to improve connectivity to the area.
Oshiwara is known for its excellent infrastructure facilities, which further attract people to invest in property in the area. It is especially famous for its antique and second-hand furniture market. It is also located quite close to various prominent schools, healthcare centres, and malls. These include Global School, JBCN International School, Ryan Kokilaben, Bellevue Multispeciality Hospital, Dhirubhai Ambani Hospital, SRV Hospital, Oberoi Mall, Infiniti Mall, and Inorbit Mall.
Conclusion
Oshiwara is a prominent locality that promises a great living experience in a relatively peaceful and safe environment. Most importantly, the competitive rates and high returns on investment make it a great choice for property buyers.
