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Goregaon's Evolution: From Suburb to Real Estate Hotspot

Author
Blox Social
Posted on
Sep 10, 2023
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While Goregaon is indeed one of the oldest residential neighbourhoods in Mumbai, it has also been steadily evolving into a preferred choice for middle to high-income segment homebuyers. Not to mention, this locality has now transformed into a coveted IT hub. Unsurprisingly, this has also had a significant impact on the property prices here. The growing infrastructure, coupled with the presence of renowned IT firms, as well as seamless connectivity to important business hubs, often renders Goregaon one of the most lucrative real estate hotspots for luxury living.

Today, we are going to talk about the area’s evolution over the years, the factors that led to it, and get an idea of the Goregaon property market:

Strategic Location

Goregaon is known to offer seamless connectivity to its residents to some of the key transportation hubs. The neighbourhood is in proximity to the Mumbai Domestic and International Airport, Western Express Highway, Goregaon railway station, and even the forthcoming Metro Station.

Such factors are highly considered by prospective residents when it comes to purchasing a new residential space. They would want to reside in a well-connected location that offers easy access to their workplace, entertainment options, and convenience stores.  

Excellent Connectivity

This locality benefits from exceptional connectivity, with the Western railway line on one side and the Western Express Highway and Linking Road on the other. Moreover, the presence of three major bus depots within the locality often facilitates convenient commuting around the city and its suburbs.

Furthermore, the establishment of residential projects by renowned developers and the swift pace of construction activities in Goregaon has solidified its position as a premier residential destination within the city.

Leading Developers

Initially, Goregaon primarily accommodated residential colonies like Bangur Nagar, Shastri Nagar, Aarey Milk Colony, BEST Colony, and Piramal Nagar. However, over time, the entrance of prominent real estate developers such as Lokhandwala Group, Kalpataru Group, Wadhwa Group, Rustomjee Group, and Oberoi Group has significantly contributed to the expansion of the locality's infrastructure.

Amazing Social Infrastructure

When it comes to social infrastructure, Goregaon East boasts an abundance of esteemed schools and hospitals. Some of the most notable educational institutions in the region are Yashodham High School and Gokuldham High School. Additionally, healthcare needs are efficiently met by hospitals such as SRV Hospital, Suvidha Hospital and Polyclinic, and Kapadia Multispecialty.

As more offices relocate to the western suburbs, the Goregaon property market has experienced significant development in recent years. This has resulted in high demand for housing closer to workplaces. Thus, the suburb is increasingly gaining popularity among professionals employed in the Central Business Districts (CBDs) of Powai and Andheri.

Myriad of Entertainment Options

Goregaon also offers a bunch of entertainment options to keep its residents busy over the weekends. Residents often frequent restaurants like Old Madras Café Restaurant, Pop N Dine Restaurant, and Aarey Garden Restaurant that are located nearby.

When it comes to shopping, there are choices aplenty, with options like Inorbit Mall. Additionally, the HUB Mall, featuring a multiplex, serves as another popular hangout spot. The Westin Hotel is conveniently situated nearby. In terms of shopping for branded items, residents can find retail outlets for popular brands like Nike, Adidas, Levis, and Raymond in the vicinity.

Great Work-Life Balance

The concept of work-life balance has taken a whole new dimension today. And this is the reason why more and more people which to have their workplaces near their homes. Since Goregaon has emerged as a hub for major corporate offices and multinational companies, it has been actively attracting professionals from various regions.

Bountiful Nature

Discovering an environmentally harmonious residential enclave in Mumbai can be challenging, yet Goregaon stands out as a fortunate exception. With the lush expanse of Aarey Milk Colony's greenery and the nearby presence of Borivali's Sanjay Gandhi National Park, the locality enjoys a serene atmosphere.

Conclusion

Given all these factors and features, it is quite evident that the Goregaon property market is on the rise and is only expected to grow further. With more commercial activity, better employment opportunities, and enhanced infrastructural amenities in the area, Goregaon seems to be an amazing place for homebuyers as well as investors. Accompanied by all these factors, it offers an ideal environment for an amazing living experience that caters to all your lifestyle requirements.

Real Estate