Revealed: Why a 3BHK in Andheri East Will Fetch You Handsome Surplus

Mumbai started as a collection of fishing settlements colonised by Western powers. It is now one of the world's wealthiest, largest, and most populous cities. Its vibrancy and industry remain part of its charm. With such phenomenal growth, though, parts that were once referred to as 'suburbs' are now considered the city's heart. Andheri is a prime example. While still referred to as a Mumbai suburb, this neighbourhood has taken its rightful place as the central commercial and residential hub of the city.

Owning a 3 BHK apartment or flat in Andheri is, perhaps, every Mumbaikar's dream. While the more glamorous western part of the suburb is preferred by celebrities, movie stars, those working in media/communication, and socialites, Andheri East, on the other hand, is the pick of professionals, business entrepreneurs, executives, and families.

Nonetheless, in this blog, let's take a look at how you stand to gain when you invest in Andheri East.

Hybrid Growth

Andheri is one of the major commercial hubs of Mumbai. The number of government offices, multinational corporations, and domestic enterprises that have set up shop here over the past few years is phenomenal. Andheri East is the poster child of hybrid development. Hindustan Unilever, Tata Chemicals, Bisleri International, Bosch, Nestle, Pidilite Industries, and Hindustan Copper are numerous corporations with offices in Andheri East. With a rise in such commercial enterprises, the need for housing in the neighbourhood is also on a constant upswing and shows no signs of slowing down. Employees in most of these offices prefer to live within a few minutes of their workplace. Real estate investors in this part of the city often look at making a handsome surplus and reinvesting in upcoming neighbourhoods.

Social Infrastructure

While much has been said about the growth of businesses, commercial enterprises, and financial services in Andheri East, making it a desirable residential neighbourhood, it must be acknowledged that the social infrastructure is just as highly developed. This is ideal for professionals, young couples, and families who wish to make the best of living in an urban setting. Crime rates are low; the availability of high-quality medical facilities, schools, and colleges factor into the decision of homebuyers who move to Andheri East. Owning a 3BHK in Andheri East is often a fulfilment of a dream for most homeowners.

The Airport Phenomenon

Andheri's greatest advantage over all the other suburbs in Mumbai is the location of the Chhatrapati Shivaji Maharaj International Airport. The airport is the first touchpoint for anyone arriving in the city by air, at least till the Navi Mumbai airport is operational. As a result, most people who come to the city for business (and this is a very significant number) prefer to remain in Andheri East in an effort to avoid lengthy commutes and spending time in traffic. This is one of the reasons why there are several five-star and upscale hotels in Andheri East, including the Lemon Tree Premier Mumbai, The Goldfinch Hotel, The Lalit Mumbai, The Leela Mumbai, and The Radisson Blu Mumbai International Airport. As a real estate investor, this also means the demand for 3 BHK properties available to lease by corporations and business enterprises is high. In fact, many corporations prefer to buy apartments which can be used by their executives when they travel to Mumbai, further fuelling demand.

Connectivity on Target

If you ask the average Mumbaikar to list all the reasons Andheri is an ideal residential neighbourhood, chances are you will find connectivity right on top of the list. Three of Mumbai's main arterial roads - the Andheri Ghatkopar Road, the Western Express Highway, and the Jogeshwari-Vikhroli Link Road (JVLR) serve to connect Andheri East with the rest of Mumbai. Construction of several bridges and elevated corridors, such as the Sahar Elevated Access Road (SEAR), have minimised traffic congestion, allowing for easy connectivity. The Andheri Railway Station and the Andheri Metro Station make it possible to reach the city's fringes within minutes. Andheri's desirability as a residential hotspot is directly tied to its excellent connectivity.

ROI Matters

Property prices in Andheri East have been on a sharp uptick over the past couple of decades. Average prices ranged between INR 7000-8000 per square foot in 2008 and have now reached about INR 19000-25000 per square foot. Therefore, an investment into a luxurious and spacious apartment or flat in this neighbourhood offers a great opportunity for appreciation and returns.

Living in Andheri East is a winning proposition. Owning a 3 BHK here is the ultimate mark of success in Mumbai real estate investing. Those who live in this part of Mumbai save time, effort, and resources and real estate investors gain through rentals, asset appreciation, and resale of their properties. An insatiable demand for residential property in Andheri East seems to be the one constant in the ever-evolving city of Mumbai.