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From South Mumbai to the Suburbs: Exploring Diverse Residential Options in the City

Author
Blox Social
Posted on
Aug 26, 2023
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Mumbai is a melting pot of cultures. This rich and vibrant city is a study in contrasts and a picture of unity. Nothing brings out the enriching diversity of this beautiful city than the real estate market and the variety of residential options that Mumbai offers. A 1 BHK for sale in Mumbai, a luxury apartment in Kandivali, a duplex in Navi Mumbai – whatever your dream or your budget, this city has something to offer.

Let us take a look at the different micro markets in Mumbai and what makes them tick.

Glitzy and glamorous SoBo 

SoBo, or South Mumbai, has been the heart of the city, fuelling its growth for decades. It is the epitome of luxurious living. Glitzy and glamorous real estate projects complement bustling commercial centres and mills-turned-office spaces. Dadar, Parel, Churchgate, Tardeo, Matunga, Kalbadevi, Byculla, Marine Lines, Malabar Hills, Mahalaxmi, Cuffe Parade, Sion, Fort, and Colaba are among the most expensive and coveted neighbourhoods in the city. They are also home to some of the most opulent malls and shopping centres, best-rated restaurants and cafes, and excellent hospitals. Real estate prices in SoBo are very expensive, and even a 1BHK for sale in Mumbai can test your budget.

Upscale and urban Western Suburbs

If you live in Mumbai, chances are you’ve often heard people say, “West is Best”. This is a testimony to the popularity of the Western Suburbs –Juhu, Bandra, Vile Parle, Andheri, Jogeshwari, Goregaon, Malad, Kandivali, Borivali, and Dahisar. Large spacious homes, expansive green spaces, highly urbanised neighbourhoods with fabulous social infrastructure – these are the hallmarks of the western suburbs. All this and not nearly as congested or thickly populated as SoBo. Now, this is where the real action is – the markets that developers and homebuyers are highly invested in. The excellent connectivity through the express highways, suburban rail systems, and metro services make these suburbs more attractive.

Trending Eastern Suburbs

The eastern suburbs of Mumbai - Kurla, Chembur, Ghatkopar, Vikhroli, Powai, Bhandup, and Mulund – offer excellent residential projects at affordable prices and are increasingly becoming popular among the home buyers and real estate investors of the city. Some of these suburbs, like Kurla and Ghatkopar, are emerging commercial hubs of the city, with commercial development outpacing most other parts of Mumbai. With such exceptional development and the excellent connectivity offered by the Eastern Express Highway, metro, and the Central line of the suburban rail network, these suburbs are emerging hotspots for investment. The availability of large tracts of land has spurred the development of integrated townships.

Harbour Suburbs – New Kid on the Block

Chembur, Wadala, Govandi, Mankhurd, Trombay – the Harbour Suburbs have remained largely untouched by the real estate development race that Mumbai has witnessed over the past decade. Things have started to turn around in Wadala and Chembur, which are now booming hotspots of development. Swanky malls, large commercial zones, and residential projects offer the residents a host of amenities and facilities. For a late entrant, the harbour suburbs are looking very exciting.

Navi Mumbai

Mumbai’s satellite city, Navi Mumbai, steals the show regarding residential real estate development. This city is a swanky, planned, pollution-free upgrade for Mumbaikars. With a host of infrastructural projects in the works, connectivity is the key to unlocking this market. The new international airport that is coming up in Navi Mumbai has offered the city a great boost, and the Mumbai Trans Harbour Link, connecting Mumbai and Navi Mumbai, is set to be the longest sea link in the country. It will cut short commute times to minutes and add to Navi Mumbai’s attraction as a real estate destination.

Thane

Thane is emerging as a dynamic real estate market, fuelled by the commercial growth of the city. Several IT companies and other corporations are moving to this city due to its affordable real estate, robust infrastructure, and excellent connectivity with Mumbai, Pune, and Navi Mumbai. Real estate prices have clocked steady growth but have never been out of reach. The green, pollution-free environment has been a blessing to homebuyers who want to live in a beautiful and serene city. Many homebuyers would prefer to invest in a luxury home in Thane to invest in a 1 BHK for sale in Mumbai.

Reverse Migration in Mumbai

The real estate trend that has taken both experts and developers by surprise is that of reverse migration. Traditionally, homebuyers have wanted to move from the suburbs and city’s fringes to the bustling and ultra-urban south Mumbai neighbourhoods. But in recent years, more Mumbaikars want to leave the densely populated and highly congested south Mumbai for the suburbs. Larger homes, cleaner environments, better amenities and lifestyles, and more potential for property value appreciation are some of the factors behind this trend.

Real Estate