Budget-friendly neighbourhood in Mumbai
Borivali – Borivali is a top pick for affordable neighbourhoods in Mumbai. It is growing rapidly, with a slew of residential and commercial projects being developed at an unprecedented pace. Borivali has several malls, colleges, and hospitals, making it attractive for home buyers. The suburb is exceptionally well-connected to major IT parks and commercial centres in Mumbai via the New Link Road, the Western Express Highway, and the Western Line of the suburban railway network. Thane is just a 20-minute drive away, and the upcoming underground road system will make this route even shorter. This suburb has numerous parks and urban facilities with plenty of affordable housing options.
Malad - If you are looking for a budget-friendly suburb with excellent social infrastructure and seamless connectivity, you must consider buying a property in Malad. The New Link Road, the Western Express Highway, the SV Road, and the Chincholi Bunder Road are some arterial roads that crisscross this suburb. The Western Line and the extension of the metro line further link Malad to some of the busiest commercial centres of Mumbai. Some of Mumbai’s top builders are developing affordable yet comfortable projects in Malad.
Vikhroli – Apart from being one of the most affordable localities in Mumbai, Vikhroli is also one of the greenest. The Eastern Expressway that runs through the heart of the suburb divides it into two halves. Vikhroli West is experiencing spectacular real estate development, and the eastern part of the suburb remains full of green mangrove forests. Vikhroli station on the Central Line offers suburban rail access. Homebuyers can look forward to spacious homes, clean air, and a pollution-free neighbourhood - all on a budget.
Mulund - Mulund, located south of Vikhroli, is a rapidly growing real estate micro-market that has gained popularity among budget homebuyers. Mulund West is bordered by the Sanjay Gandhi National Park, providing homebuyers with breathtaking views and fresh air. The Central Line of the suburban rail network runs through the heart of the neighbourhood, providing easy access to various parts of Mumbai. The Lal Bahadur Shastri Marg and Eastern Express Highway offer excellent connectivity to most of the commercial districts in Mumbai, and the Mulund-Airoli Bridge provides a hassle-free commute to Navi Mumbai.
Chembur – While located in the heart of Mumbai, Chembur has been slow to catch up with the development experienced by neighbourhoods like Dadar and Andheri. Several corporations are now vying with BARC and Hindustan Petroleum to set up shop in Chembur. It is also extremely well connected to the commercial hubs of Mumbai and Navi Mumbai. The Eastern Freeway and the Eastern Expressway service this suburb, and the Harbour Line offers rail connectivity. Flats and apartments in Chembur may be more expensive than suburbs like Malad and Borivali but are not quite as costly as those in Dadar and Parel.
The rise of Thane and Navi Mumbai
Apart from these suburbs, Thane and Navi Mumbai are now emerging as the favoured markets for homebuyers looking to buy large, spacious homes with great facilities and amenities. The upcoming new airport, the Mumbai Trans Harbour Link project, and several developmental projects in these two cities have made them coveted residential destinations. The development of new roads and the extension of metro services hold out the prospect of short and convenient commutes for those looking to live here and work in Mumbai.
Conclusion
Mumbai is a vast and diverse city with numerous small neighbourhoods poised for exceptional growth. Choosing a suburb is influenced by several factors, such as budget, convenience, and lifestyle. Once you have picked a suburb, you can dig deeper into smaller micro-markets and compare various projects. The price of residential apartments may vary significantly between different areas, and it may take some research to find the most affordable localities in Mumbai.
