Until a few decades ago, you may have heard Mumbaikars refer to Andheri as a "suburb". This is not definitely true of Andheri as we now know it. This vibrant neighbourhood is the heart of the soul of Mumbai and depicts the epitome of the city's colourful culture. For the past couple of decades, Andheri has also emerged as one of the most coveted real estate hubs of the city. If you are still wondering if buying a property in Andheri East is a good idea, read on.
Buying into real estate projects in Andheri is always a winning proposition. There is something quintessentially earthy and cosy but glamorous about Andheri East that makes it a great choice when it comes to buying residential real estate. Andheri, as a whole, is a trendy and glitzy neighbourhood. Andheri West is home to a number of media offices and the showbiz that Mumbai is well-known for; Andheri East is also upscale but in a more sophisticated way. As a result, Andheri East is the definitive choice for professionals, entrepreneurs, artists, and socialites. The sprawling projects, the very best of urban living, and the fantastic facilities and amenities that this neighbourhood has to offer are unparalleled. It also helps that neighbouring Andheri West is home to several movie stars and celebrities.
While Andheri is extremely well-connected with the rest of Mumbai, Andheri East certainly has the edge over most of the city's preferred residential neighbourhoods. This is because the Chhatrapati Shivaji Maharaj International Airport is located here, making the airport commute a smooth one.
NH8 connects Andheri East and Jogeshwari-Vikhroli Road, and the rail connectivity offered by both the Western railway network and the Harbour Line is invaluable in the development of this locality. In addition, the launch of the Metro Lines 7 and 7A shall reduce the commute across the city to minutes.
The highlight of living in Andheri is the social infrastructure of this residential locality. When you invest in Andheri East, you choose to live in the proximity of some of Mumbai's top restaurants, bars, and clubs. Andheri East is also home to some of the top hotels, including the Radisson Blu Mumbai International Airport, Lemon Tree Premier Mumbai, The Lalit Mumbai, The Paradise by Tunga, the Goldfinch Hotel, and The Leela Mumbai. Some of Mumbai's most premium schools, colleges, and hospitals are also close at hand. For those who love shopping, Infiniti Mall, Fun Republic, and Crystal Point Mall are right in the vicinity.
The Andheri-Jogeshwari corridor has some of the best commercial and office spaces. The Infinity IT Park, Santa Cruz Electronic and Export Promotion Zone (SEEPZ), and Dyna IT Park are all located here. Some of the top corporations in India and MNCs have decided to make Andheri East their headquarters.
Average property prices in Andheri East range from Rs 16,000 to Rs 36,500 per square foot, depending on the project and developer. The phenomenal rise in the cost of apartments and flats has made an investment in Andheri both lucrative and profitable. With more businesses opening up and more corporations setting up offices here, both residential and commercial real estate has the potential to bring in an incredible ROI for investors.
Andheri East showcases the aspirations and spirit of Mumbai. It is a vibrant and dynamic locale that has attracted the attention of some of the top developers of the city. The Government of Maharashtra has put considerable effort into easing traffic congestion in this busy neighbourhood, and these shall soon start paying rewards in terms of a better lifestyle and asset appreciation.
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Owning a residential property in Mumbai is a significant accomplishment, both personally and financially. Real estate properties are always in high demand, and it is a dream for every Mumbaikar to own one. However, it is crucial to register your property to establish your legal ownership of it. By paying the registration fee and stamp duty and completing the registration process, you ensure that you are the legal owner of the property.