Understanding the Real Estate Landscape of Marol

Marol is a well-developed locality in the Andheri East suburb in Western Mumbai that has been populated since ancient times. The locality is situated strategically close to the Western Express Highway and Andheri Railway Station. Marol is a prominent locality and was once ruled by the Portuguese and later by the Britishers. Today Marol is a bustling sub-locality, and its proximity to the Mumbai International Airport has made it a preferred choice for property investment. 

Even though the locality offers little scope for the development of new projects, there are several options for the redevelopment of old structures in the area. The area offers both residential and commercial properties for sale as well as on rent attracting homebuyers and general investors in large numbers. For people interested in buying or renting a property in Marol, given below are some insights that can help them make an informed decision. 

For People Looking To Buy Property 

Marol has more than 350 properties available for sale, a majority of which are residential apartments. The average per-square-foot price of these apartments is The Apartments in ₹ 20650.0. Renowned real estate projects in the area that promise a decent year-over-year (YOY) return on investment include Ashok Towers with a YOY of 9.7%, Veeramani Radiant 59 with a YOY of 13.1%, and VKG Passcode Beverly Hills with a YOY of 8.3%. On average, the YOY price for the apartments in the area changes by around 5%. Some key projects in the area for property investment include Vasant Oasis, Akruti Aneri, and Blue Monarch, being developed by Sheth Group, Hubtown Group, and Atul Projects, respectively. 

For People Looking To Rent Property

People interested in renting a property can choose from more than 430 properties available for rent in the area. Of these, more than 110 properties are within the affordable range and have an average rental value of less than ₹40000/month. More than 140 properties fall within the mid-segment range and have a rental value between ₹ 40000 and ₹ 50000/month. There are more than 180 premium properties available for rent that have a rental value of more than ₹50000/month. The average monthly rent for properties in Marol range between ₹33200-85300, and the most popular projects for acquiring rental property include Sheth Vasant Oasis, Kanakia Sevens, and Kanakia Rainforest.

Reasons For Investing In Property In Property In Marol

Marol is quite well-developed and offers all the basic social facilities and amenities within a short distance. Investing in property in this locality is the best option due to the following reasons. 

Safe and Peaceful Neighbourhood

Marol is one of the safest localities in Mumbai and is also quite peaceful. People here get to enjoy a good lifestyle with their loved ones. Most of the properties are in the form of multistory apartment complexes, with 1 & 2 BHK apartments being the preferred options. The area is located within a 5-10 km distance of Vile Parle and Powai, which are among two of the most famous suburbs of Mumbai.

Affordable Options For Mid-Segment Investors

Properties in Marol are competitively priced compared to similar properties in other nearby suburbs. Nearly 15% of all the properties available for sale in Marol are within the price range of ₹1.8Cr and ₹2Cr, while 14% of all the properties for sale are available within the price range of ₹1Cr and ₹1.2Cr. 

Excellent Connectivity With Other Suburbs

Marol is well connected to almost all suburbs of Mumbai via road, rail, and metro. The locality is situated at a distance of only 3 km from the Mumbai International Airport and 4 km from Andheri Railway Station. In addition, the Marol Depot, Hiranandani Powai bus depot, Victoria Terminus railway station, Marol Naka metro station, and Saki Naka metro station offer great connectivity options to various parts of Mumbai. 

Great Infrastructure

Marol is a part of the Andheri East suburb and hence boasts of great infrastructure facilities. Some of the more famous schools in the area include Marol Education Academy High School, Prime Academy, and St JohnThe Evangelist High School. The area also houses prominent healthcare facilities like Medicare Hospitals, Seven Hills Hospitals, Sagun Hospitals, and Holy Spirit Hospital. There are also several malls and markets located within a short distance of Marol. 

Wrapping Up 

Overall, Marol offers all the features and facilities that make it a great choice for people looking to invest in affordable properties and expecting high returns.