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Identifying Investment Opportunities in Saki Naka's Real Estate Market

Author
Blox Social
Posted on
Jun 25, 2023
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Saki Naka is a sub-locality of Andheri East in Mumbai that is situated quite close to the well-known suburbs of Chandivali and Powai. The area is named after the important road junction located on the Andheri-Kurla Road that connects the eastern and western suburbs of Mumbai city. In recent years, Saki Naka has emerged as a popular destination for property investment thanks to the features and facilities available in the area. 

Saki Naka is rapidly evolving as a prime business hub, with various commercial offices and call centres being set up in the area. The area was once infamous for its traffic, which has improved significantly over the past several years. Given below are some important facts about the real estate market in Saki Naka that can help people interested in investing in property here to make an informed decision. 

For Buying Property 

Saki Naka offers only a limited number of properties for sale, with the actual number being just around 54. The average price per square foot of the apartments is around ₹16031.0. This is slightly higher compared to the average per square foot price in Mumbai, which stands at around ₹15000.0. The most common type of residential property available in the area is 1 BHK apartment, and the average price of 2 BHK apartments in the area is Rs. 25 Lac to 2.40 Cr. Some of the most popular projects in the area are Akruti Orchid Park, Crescent Solitaire, Project Sagar Tech Plaza, Gundecha Onclave, and Gundecha Asta, where people can easily find the right property to invest in.

For Renting Property

There are only around 33 properties available for rent in the Saki Naka locality. The average monthly rent in the area rent in the area is between ₹47999 and ₹65000. Of these, around 16 properties are within the affordable range with an average rental value of less than ₹40000/month. Nearly 11 other properties fall within the mid-segment range and have a rental value between ₹40000 and ₹50000/month. There are just about six properties in the premium range and having a monthly rent of more than ₹50000. 

Reasons For Investing In Property In Property In Saki Naka

Saki Naka is one of the oldest localities in Mumbai, and with the recent boom in infrastructure and real estate development, it is becoming a major commercial hub in the western part of the city. Several reasons make investing in property in Saki Naka a great choice, the most important of which include the following. 

  • Reasonable Property Price

Nearly 20% of all the properties available for sale in Saki Naka are priced between ₹20Lac - ₹40Lac, while 17% of properties are priced between ₹80Lac - ₹1Cr. Given the huge demand for 1BHK apartments in the area, it is not surprising that nearly 48 % of the properties are designed in this configuration. Moreover, 43% of the properties in Saki Naka available for sale comprise commercial office spaces. This makes the area a great choice for people interested in investing in commercial property, especially with the prices increasing each year.

  • Great Connectivity Options

Saki Naka is well connected to other parts of Mumbai via rail, road, and metro. The Mumbai Metro Line 1, which is the first elevated metro line of the city, passes through the locality, and Sakinak Junction is the nearest Metro station. The location is situated at a distance of only 3 km from Mumbai International Airport. It is also a short distance away from major railway stations such as Ghatkopar, Vikhroli, and Andheri Railway stations. The area is also well connected by road through various bus depots, including Saki Naka Road, John Backer Bus Station, Marva Industrial Estate Bus Station, and many more. 

  • Excellent Infrastructure

The infrastructure facilities in Saki Naka are quite good, with several ATMs, pharmacies, petrol pumps, banks, shopping malls, and convenience stores to help the residents enjoy a comfortable lifestyle. The area also houses prominent hospitals like SB Nursing Home & ICU, Balahi Speciality Hospital, Seven Hills Hospital, Amas Medical Service, etc. Saki Vihar Road also has several renowned educational institutions such as Kidzee, Asmira Academys English High School, Nahar International School, Nahars Amrit Shakti, etc.

Conclusion

Saki Naka is an evolving real estate hub that promises a great living experience in a relatively peaceful and safe environment. People investing in property here can be assured of reasonable prices and high returns on investment. 

 

 

Real Estate