Looking For RERA-Compliant Projects In Mumbai? Consider Thane & Western Suburbs

Considering to invest in property in the Mumbai Metropolitan Area but unaware about whether or not the projects here are Real Estate Law-compliant? The Real Estate Regulatory Authority (RERA) of Maharashtra has, until August 1, 2017, registered 9,000 projects, highest number achieved by any state RERA. This number shows that it won't be a tough task to find a RERA-compliant project in Mumbai, especially if you are eyeing Thane and Western Suburbs. These are the real estate hubs that have registered a maximum number of units and projects in Maharashtra.

According to the data available with Maharashtra RERA, over 1,800 projects have been registered in Thane and beyond Thane areas, including Ambarnath, Kalyan, Dombivli etc, followed by Western Suburbs. Andheri in the Western Suburbs ha 692 projects that are listed with the Maharashtra RERA website, Borivali has 770 projects and Kurla has 786 registered projects.  

Check out the real estate profile of these two major micro-markets:

Thane

Areas falling under Thane Municipal Corporation limits as well as those beyond Thane have an active real estate market. Many residential projects, infrastructure development and booming population make for an emerging real estate market. Though the market had its share of fly-by-night developers, however, with the implementation of the Real Estate Law, it has become mandatory for every project to have a RERA registration number, making it easy for homebuyers to find a credible developer with a litigated past. Areas such as Ambarnath, Bhiwandi, Kalyan, Murbad, Shahpur and Ulhasnagar falls under Thane district are hubs of affordable housing and plotted development project. A 1BHK here is available at a minimum price of Rs 40 lakh while a 2BHK can be found for Rs 50 lakh. Tata Housing Serein, Lodha Splendora, Kalpataru Hills are some of the prominent projects which are already registered with RERA.

You can access the list of RERA registered projects in Thane here

Western Suburbs

Andheri, Borivali and Kurla are the talukas that fall under the Mumbai suburban region and have the highest number of RERA-registere projects after Thane. There are a number of new projects coming up in these micro markets due to proximity to Mumbai's secondary business district, the Bandra Kurla Complex. The availability of options across budget is another reason that makes this corridor a preferred investment destination for investors. The rental returns in these areas are also high due to unending demand from the migrant working population, looking to stay near their workplace. Some of the popular projects, registered with RERA are Atmosphere by The Wadhwa, Rustomjee Seasons, Rustomjee Paramount etc.

You can access the list of RERA registered projects here

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