Up until a decade ago, the Mumbai skyline started to change drastically, with newer residential and commercial developments dotting the skyline. Chembur, the neighbourhood in the heart of the city, remained surprisingly untouched by such activity. It is only in recent years that both real estate developers and homebuyers seem to have woken up to the immense potential this locale holds. The transformation of Chembur from an old industrial zone to a thriving residential hub is spectacular. The excellent location, well-developed infrastructure, and growth potential make it a lucrative investment destination.
Here is why you must join the bandwagon and invest in a 2BHK in Chembur.
- Chembur’s location is its greatest advantage. Its proximity to adjoining Ghatkopar, Kurla, Scion, and Mahul makes it a conduit for those commuting from neighbouring suburbs to South Mumbai. The Eastern Freeway, Mumbai Pune Highway, and the Eastern Express Highway pass through Chembur, offering excellent connectivity to some of the most developed commercial hubs such as the Bandra-Kurla Complex, Powai, Andheri East, Dadar, and Lower Parel. The Santacruz-Chembur Link Road connects this neighbourhood to the fast-developing western suburbs and is a great advantage to the residents. The Mumbai Monorail Line-1 and the suburban railway network further help residents commute to different parts of the city.
- Chembur is experiencing a wave of mixed development, with residential projects vying for attention with industrial areas, corporate complexes, IT parks, and commercial centres. Several domestic and international corporations are setting up their offices in and around Chembur, driving up the demand for residential units in this neighbourhood. Start-ups and businesses that are looking to rent office spaces are starting to move here from places like Andheri. While PSUs like BARC and RFC, which have held on to their premises in Chembur, are also strengthening their hold, making it lucrative for government employees to buy into this neighbourhood.
- Since the 1940s, when the government started to settle post-partition refugees and migrant workers from the southern states, Chembur has come to be known for its cultural life and inclusive lifestyle. The Fine Arts Cultural Society showcases the best of what Chembur has to offer. The Ambedkar Gardens and Nanak Bhojwani Garden are green spaces in this neighbourhood. Cubic Mall, Carnival Cinemas IMAX, and K Star Mall are some of the many modern entertainment options in this vibrant locality.
- Chembur is the perfect investment destination for families. Schools like Our Lady of Perpetual Succour High School, St Anthony’s Girls’ High School, Lokmanya Tilak High School, and higher education institutions like N. G. Acharya & D. K. Marathe College of Arts, Science & Commerce and Tata Institute of Social Studies offer excellent educational opportunities. In recent years, Chembur has undergone tremendous infrastructure development, offering solid social infrastructure, up-to-date transportation options, and well-maintained roadways. This neighbourhood also offers excellent healthcare facilities and a higher quality of life.
- The real estate market in Chembur has something to offer for everyone. It offers several different residential solutions to satisfy various demands and tastes, from upscale apartments to affordable 1 and 2-BHK in Chembur. Chembur offers the possibility of significant ROI on real estate investments. Average property prices increased from about INR 13000 per square foot in 2012 to INR 25000 per square foot in 2022. This appreciation trend is likely to continue in the near future.
Why should I invest in Chembur in 2023?
Investing in an up-and-coming neighbourhood like Chembur offers excellent potential. With several major developers showing interest in this locale, demand is increasing. 2023 is the perfect time to invest in a 2 BHK in Chembur because of all the infrastructural development that is being carried out in and around Chembur. Work on the Mumbai Metro 2B from Mandale Depot to Chembur is underway and will connect Chembur's metro, monorail, and suburban rail networks. The development of the six-lane Third Vashi Creek Bridge is also expected to be completed by early 2024. This will help commuters go from Chembur to Navi Mumbai within minutes. These will likely drive up property prices and allow your property to appreciate in times to come.
If you are looking to invest in Chembur it is a good idea to use the technology-powered search tool on the Blox site to shortlist and compare verified and RERA-registered listings from the top developers of Mumbai.
