Located in the eastern central part of Mumbai, Kanjurmarg is a thriving and vibrant suburb with tranquil surroundings, lush green ambience, and serene locales. Due to its well-developed social infrastructure and comparatively affordable average property rates, many home buyers are flocking towards this region to invest in their dream home, hence making this area a sought-after realty hotspot.
Take a look at various factors that make Kanjurmarg a coveted real estate hotspot in Mumbai:
Kanjurmarg enjoys good connectivity to other areas via a thriving rail, road network. Its railway station is the main access point for IIT Bombay, KV Powai, NITIE, Hiranandani Gardens, and other locations in Powai. It is also the starting point for the Jogeshwari Vikhroli Link Road popularly known as JVLR which connects the Eastern and Western Express Highways. It is one of the major arterial routes that have opened up connectivity between western and eastern Mumbai increasing accessibility to areas like Powai which are not served by trains.
Due to such smooth and hassle-free connectivity and transportation, the area has gained popularity among home buyers in recent times.
Talking about the infrastructure, the region is home to many renowned schools, colleges, hospitals, corporate offices and IT parks making it a best place to invest. St. Francis Xavier High School, I.E.S Secondary school, IIT Campus School, Kendriya Vidyalaya, St. Xavier’s High School and Junior College are some of the famous schools that fall in the region. Also, people can have easy access to the Huma Mall, D-Mart and R-City Mall as well as state-of-the-art healthcare facilities at Hiranandani Hospitals.
Real Estate market
According to many real estate experts, Kanjurmarg enjoys presence of almost all types of housing units that fit into home buyers pocket and hence making it a premium hotspot in east central Mumbai.
The residential real estate market of the Kanjurmarg boasts several mid-range and luxury real estate projects. Many renowned real estate developers like Runwal, Lodha etc. are coming to this region due to comparative land prices. The Great Eastern Gardens residential complex was the first residential property of Kanjurmarg. Apart from this, Gundecha Heights and Altura, Naval Dockyard civilian housing colony, Lodha Aurum Grandé are some of the known residential properties of the area. Premium projects like Runwal Bliss, Runwal Forests and Kanakia Spaces Zen World are also coming up here.
Talking about the commercial real estate, the area is fast developing into a business district through some thoughtfully planned corporate campuses like OneWorld and Lodha iThink. Several other business zones like the Akruti Corporate Park, Eastern Business District, Supreme Business Park, Godrej, Accenture, and L&T have established their offices nearby the region.
Property Rates and Trends
In spite of a well-developed infrastructure, the property price in Kanjurmarg is at the affordable side making it a preferable real estate investment destination as compared to neighbourhood areas.
The price of properties in Kanjurmarg starts from Rs 10.40 lacs and the average price of properties in Kanjurmarg is Rs 1.81 crore.
Real estate expert says that the average capital values in Kanjurmarg vary between Rs 12,000 per sq ft and Rs 15,000 per sq ft. However, property prices in the Kanjumarg East are slightly lower as compared to Kanjumarg West. For example, average property prices in Kanjumarg East are around Rs 12000-14,300 per sq ft whereas in Kanjumarg West its falls in the range of Rs 12950-15,600 per sq ft.
Considering all the above facts, the area offers good returns on investment too and hence making it a perfect residential destination among homebuyers.