Ghatkopar West-A plush locality/suburb in the eastern part of Mumbai has today become a favourable location amongst Mumbaikars when it comes to investing in a home. In recent years, Ghatkopar West has also registered good appreciation in property price due to which property owners have earned much better return on investment on the units they have purchased.
Let’s understand in detail some of the key reasons to invest in Ghatkopar West, Mumbai:
Location and Connectivity
Just like other localities of Mumbai, Ghatkopar is also divided into two areas: Ghatkopar East and Ghatkopar West. However, amongst the two, Ghatkopar West is more popular in terms of residential investment.
Ghatkopar west enjoys seamless connectivity to other areas via a flourishing rail and road network. Mumbai’s Suburban Railway central line passes through this area as well as it has a metro station on Line 1 of the Mumbai Metro namely, Versova-Andheri-Ghatkopar Metro corridor. Commencing its operation since July 2014, this metro route has reduced the traveling time between Versova and Ghatkopar by 70 minutes which is a boon to daily commuters.
Apart from it, Ghatkopar west is also in proximity to Eastern Express highway. While, the airport is just 7 km away, the main terminal of the city- Chhatrapati Shivaji Railway Terminus lies at a distance of 20 km from the locality. Also, state-run local BEST buses provide smooth connectivity to other adjacent localities like Santacruz, Khar, and Juhu.
Ghatkopar west is also easily accessible to Navi Mumbai via Sion-Panvel Highway.
Ghatkopar west is home to thriving social and civic infrastructure that has given a boost to this locality in terms of property prices as well as homebuyers attraction. It houses many leading schools, banks, ATMs and healthcare centers such as Saraswati Vidya Niketan, NIIT, Sarvodaya, Zynova, etc. Malls like Phoenix market city and R-City are also located in close vicinity to the project. Several shopping outlets, eatery joints, and restaurants are also located nearby this locality on Vallabh Baug Lane and MG Road. Employment and commercial hubs like Bandra Kurla Complex, Andheri, and Versova also fall nearby attracting many working professionals to invest in this region.
Real Estate Market
Being an old and flourished market, Ghatkopar west houses many ready-to-move-in residential units in various size and configuration. Also, the old registered societies are on redevelopment spree to update them with the new amenities and standards. Because of the proximity to corporate hubs, most of the professionals invest in ready-to-move-in units here. Also, the rental market of Ghatkopar west is quite affordable and budget-friendly as compared to other areas.
In recent years, the area has seen many new launched from premium builders too. Some of the popular projects in Ghatkopar west include Runwal R city, Kalpateru Aura, Wadhwa the Address, Wadhwa Boulevard, etc.
Property Price and Trend
At present, the average property price in Ghatkopar West is Rs 18,027 /Sq-ft. However, it hovers around Rs 14,397-21,658 /Sq-ft. One can easily get 1, 2, 3 BHK unit here in mid-size and premium segment. A 1 BHK unit cost around Rs 70 lakh- 1 Cr, while for a 2 BHK, a homebuyer has to spend more than a crore.
On the other hand, the rental price of the unit ranges between 26000- 70000. According to realty expert, the locality is expected to witness a good capital appreciation in the property prices in the coming few years. It means it’s time to invest in Ghatkopar West.