Know What Makes Investors Flock To Mumbai's Goregaon East
The burgeoning population of the financial capital of India Mumbai has made the suburbs of the city to flourish. These suburbs have been a boon for those looking for affordable properties. One such suburb is Goregaon East where prospective homebuyers could get ample property options to pick. What’s more? This locality has been witnessing a constant growth in property prices, making it an apt locality to invest in for future returns.
Smooth connectivity
Located between Andheri and Borivali, the two important residential localities in Mumbai, Goregaon East is well connected with the Western Highway and the Jogeshwari-Link Road (5.6 kilometres and 6.8 kilometres, respectively). Residents have easy access to the city’s international airport. The proposed under-construction Phase-II of the Mumbai Metro is further expected to make commute smoother for the residents travelling to and from the city centre.
Presence of corporate giants
The sound infrastructure and connectivity promote commercial real estate in Goregaon East. Companies such as IBM, Abbott and Aegon Ligare Life Insurance have set up their offices in Goregaon East. This attracts a large number of working population and thus, pushing the demand for apartments in Goregaon East.
Higher rate of return
In September 2015, the per square foot price of property in Goregaon East was Rs 15,280 per square foot. This, in the past 36 months or three years, has rose by 7.9 per cent and now, in September 2018 stood at Rs 16,594. In the past 65 months, there has been a 14.4 percent rise in the property prices in Goregaon East.
Booming real estate market
Goregaon East is getting attention because of its sound infrastructure and comparatively affordable property prices, encouraging developers to launch new apartments here. There are around 169 projects in the locality, of which 112 are ready to move in and 45 are under construction. Some of the prime developers in the area are Mantri Serene, Fiorenza, Exquisite and Gagan.
Also read
Mumbai propguide Real Estate in Goregaon East Upcoming Properties in Goregaon East Flats in Goregaon East