Property investment
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Mumbai- The financial capital of India has always been a dream investment destination among home buyers. But due to increasing property prices, many people cannot afford their dream home in the location of their choice. However, in recent time, due to fast-pace infrastructural development and better connectivity, even the far-flung residential areas have now become reachable and hence buying a home in the best location is not a dream anymore. As these are emerging locations, the property price is still at the lower side thereby providing all the modern-day luxury amenities equipped residential unit to homebuyers in their budget.

Here’s a look at the top emerging locations where one can buy a home within 80 lakh in and around Mumbai:

Boisar

An emerging suburb, located 42 km from Virar North; Boisar falls on the Western Railway line of Mumbai local transit system. The area has a lot of localities that offers well-developed homes with a range of 80 lakh. Boisar is well-connected via NH48. It is also home to many industries that have further quadrupled the residential demand here in recent years.

Boisar houses many renowned educational institutions, hospital, malls retail stores and entertainment centres. Don Bosco School, S.T Francis School, H D (Bhausaheb) save college of science and commerce, Shri Vidya Mandir English medium school, Boisar Military School, D MART and Big Bazaar are some of the prominent featured points here.

Apart from this several planned and proposed developments like Delhi Mumbai industrial corridor, Bullet train between Ahmedabad and BKC will further going to boost the real estate market in coming future.

At present, the average property price of the apartment in Boisar is 3,138 per sqft. One BHK unit is available at a price of 25 lakh, while a 2 and 3 BHK can be brought at a price range between 35 lakh to 60 lakh.

Virar

Located in Mumbai Metropolitan Region (MMR), Virar is a famous locality which is home to many famous temples, Heritage sites, and tourist spots.

Its railway station falls on the northern-most tip of the Western Line of Mumbai Local Transit system. Because of it green and tranquil environs, Virar has attracted many homebuyers who want to lead a peaceful life away from city’s hustle and bustle.

Virar is also known for the presence of busiest skywalk on Mumbai with a footfall of 58,038 commuters during peak hours. Also, proposed infrastructural development like Virar-Alibaug Corridor Project will further enhance connectivity of this area to other surrounded localities It will also connect Virar to NH8 (Mumbai-Ahmedabad), NH3 (Mumbai-Agra-Delhi), NH4 (Mumbai-Chennai) and NH17 (Goa-Mangalore-Kerala).

Due to all these developments, several leading developers like Rustomjee, HDIL, and others have developed their projects here. Other developers are also developing their projects.  There are many luxury properties available within Rs 80 lakh.

Currently, the average property price of a residential unit in Virar is 4,535 per sqft. A one BHK can be brought at a price of 37 lakh, while a 2, 3 BHK is available at a price tag of 42 and 65 lakh respectively.

Nalasopara

Nalasopara falls under Vasai-Virar Municipal Corporation and is a part of MMR. The railway station falls on Western Line of the Suburban railway and is home to Chakreshwar Mahadev Mandir, a very ancient shrine of Lord Śiva. The locality enjoys smooth connectivity to other areas via a thriving rail and road network. The proposed Mumbai Metro Line-9 will further enhance the connectivity.

Nalasopara houses many renowned educational institutions such as Adarsh Education Society’s Kapol School, Evergreen High School, JBS High School, Lokmanya High School & Junior College, RK International School, Thakur Vidya Mandir High School, Vidya Bhushan Marathi Vidyalaya etc. Many popular hospitals, entertainment, and recreation centres are also present here.

The current average property price in Nalasopara is 4,575 per sqft. A one BHK will cost around 26 lakh while a 2 and 3BHK are available at a price range of 36 to 80 lakh.