With the skyrocketing property prices in the metropolitan cities of India, it was a distant dream for the middle class homebuyers to own a home in such areas. But with the government’s affordable housing policies and the initiatives taken by the private builders to offer better facilities at lower costs, the MIG and LIG homebuyers can now realize their dream of owning a home. In a city like Mumbai, where thousands of people deboard every day, it becomes even more difficult to get a good home at affordable rates.
However, to find the right home in Mumbai that suits your requirements and budget, you need to research a little. There are some localities that prove that the Residential Property in Mumbai can also be affordable.
Dombivali- For all those who are looking for a suburban lifestyle near a complete set of commercial development, Dombivali (particularly east) is a great locality to have a home in. The recent coming up of Palava City in Dombivli is driving the real estate market further. The place enjoys great connectivity with popular hubs of Thane and Navi Mumbai. Monorail service has also been proposed in the area which will further boost its realty sector.
Airoli- In the residential areas of Navi Mumbai, there are two popular affordable destinations where urban population can reside namely Airoli village and Diva village. The properties in the area starts at 25 lakhs and reach up to 1 crore. Bus and train facilities are easily available at these locations so it is good for commuters. A number of parks, playgrounds and recreational areas can also be found within a decent radius.
Mansarovar- Kamothe, popularly known as Mansarovar, is another important residential area in Mumbai. Located on the Sion-Panvel Highway, it offers great connectivity with popular job locations of the city. Homes here are affordable in nature which keeps it in good demand mainly from the middle income group.
Ulwe- An emerging hot real estate destination of Navi Mumbai, Ulwe realty has skyrocketed over the last few years. More than a thousand real estate projects have been launched by the developers in Ulwe, most of which are in the affordable range. The locality is rising as the next Vashi of Mumbai, given its super-fast planned development.
Mira Road- It is one of the fastest growing suburbs of Mumbai. The locality is surrounded by vast salt pans and small developments. The best thing about this location is its still intact natural beauty. While most of Mumbai is lost under the concrete jungle, this is one of the few areas that still have some greenery left. The place has ample property options under a budget of Rs 60 lakhs.
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