There is no doubt that Mumbai is the city of dreams as far as India is concerned. With whole host of options available, there can be no other place better than Mumbai to live in. But even in Mumbai there are some places that are tagged as Special. All these years, it was South Mumbai’s luxurious addresses that set the standards for the high life. But with the city changing its colours in the past decade, it is the suburbs that have shot up in the eyes of the consumer. Let us see what the factors are which have helped shape this makeover.
Over the years, two factors stood out prominently – the residential dominance and availability of industries. Many of the industries have winded up their operations and their place has been taken by shining malls and multiplexes. The economic spurt has given rise to a legion of consumers ready to buy lots of stuff. Thus, growing demand for new places for retail market is high. South Mumbai, because of its already established infrastructure, has very little to offer in terms of space.
Easy availability of land and lower property prices have made the suburbs the natural choice for families and business to set up shop there. Primary amongst these locations are Bandra-Kurla Complex, Andheri, Goregaon, Malad and the eastern suburbs of Ghatkopar and Mulund. And there are other factors also which have contributed to this exodus. The presence of Metro has been a huge boost to this region, drastically reducing the travel time. An easier and swifter access by road while going east-west or vice versa has also tilted the scales in the favour of suburbs.
Another major factor that has made these suburbs a hot bed of real estate is the lifestyle quotient. While earlier facilities like swimming pool, Jacuzzi, club house, gyms, etc were only part of the super-rich lifestyle, higher earnings have meant that builders have had to come up with innovative options to attract the customers. This has ensured that residential properties in Mumbai get more luxuries to cater to the tastes of the buyers. One look at the sprawling properties in Juhu is enough to see the change that has come about in recent years.
Given the current scenario and competition in the real estate industry, it is good time to be a buyer. Since, the realtors are pulling out all stops to attract buyers, they are coming up with innovative solutions. Huge discounts and easy repayment options are few of the ways in which the builders want to turn the tide in their favour. A word of advice though – incase you do want a piece of the city’s real estate, make sure you do your research before closing the deal. As such, the rise of the suburbs has given more options to the interested lot, thus completing the perfect makeover.
Over the years, two factors stood out prominently – the residential dominance and availability of industries. Many of the industries have winded up their operations and their place has been taken by shining malls and multiplexes. The economic spurt has given rise to a legion of consumers ready to buy lots of stuff. Thus, growing demand for new places for retail market is high. South Mumbai, because of its already established infrastructure, has very little to offer in terms of space.
Easy availability of land and lower property prices have made the suburbs the natural choice for families and business to set up shop there. Primary amongst these locations are Bandra-Kurla Complex, Andheri, Goregaon, Malad and the eastern suburbs of Ghatkopar and Mulund. And there are other factors also which have contributed to this exodus. The presence of Metro has been a huge boost to this region, drastically reducing the travel time. An easier and swifter access by road while going east-west or vice versa has also tilted the scales in the favour of suburbs.
Another major factor that has made these suburbs a hot bed of real estate is the lifestyle quotient. While earlier facilities like swimming pool, Jacuzzi, club house, gyms, etc were only part of the super-rich lifestyle, higher earnings have meant that builders have had to come up with innovative options to attract the customers. This has ensured that residential properties in Mumbai get more luxuries to cater to the tastes of the buyers. One look at the sprawling properties in Juhu is enough to see the change that has come about in recent years.
Given the current scenario and competition in the real estate industry, it is good time to be a buyer. Since, the realtors are pulling out all stops to attract buyers, they are coming up with innovative solutions. Huge discounts and easy repayment options are few of the ways in which the builders want to turn the tide in their favour. A word of advice though – incase you do want a piece of the city’s real estate, make sure you do your research before closing the deal. As such, the rise of the suburbs has given more options to the interested lot, thus completing the perfect makeover.