A thriving and vibrant eastern central suburb of Mumbai- Kanjurmarg is known for its tranquil surroundings, lush green ambience, and serene locales. Because of a well-developed infrastructure and comparatively budget-friendly prices, many property buyers are attracted towards this region to invest in their dream home. Scroll down to know the various reasons that are making Kanjurmarg a sought-after real estate hotspot in Mumbai:
Kanjurmarg enjoys smooth connectivity to other areas via a flourishing rail, road network. Its railway station is the main access point for IIT Bombay, KV Powai, NITIE, Hiranandani Gardens, and other locations in Powai. The area is also the starting point for the Jogeshwari Vikhroli Link Road popularly known as JVLR which connects the Eastern and Western Express Highways. It is one of the major arterial routes that have opened up connectivity between western and eastern Mumbai increasing accessibility to areas like Powai which are not served by trains.
Kanjurmarg is home to many renowned schools, colleges, hospitals, corporate offices and IT parks making it the best place to invest. St. Francis Xavier High School, I.E.S Secondary school, IIT Campus School, Kendriya Vidyalaya, St. Xavier’s High School and Junior College are some of the famous schools that fall in the region. Also, presence of entertainment centers like Huma Mall, D-Mart, and R-City Mall as well as state-of-the-art healthcare facilities at Hiranandani Hospitals makes this place a coveted real estate destination.
Real Estate market of Kanjurmarg
Realty experts say that Kanjurmarg enjoys presence of almost all types of housing units that fit into home buyers pocket and hence making it a premium hotspot.
One can easily find several mid-range and luxury real estate projects here. Many renowned real estate developers like Runwal, Lodha, Kanakia etc. are coming to this region due to comparative land prices. The Great Eastern Gardens residential complex was the first residential property of Kanjurmarg. Apart from this, Gundecha Heights and Altura, Naval Dockyard civilian housing colony, Lodha Aurum Grandé are some of the popular residential properties of the area. Premium projects like Runwal Bliss, Runwal Forests and Kanakia Spaces Zen World are also coming up here.
On the commercial front, the area is fast developing into a business district through some thoughtfully planned corporate campuses like OneWorld and Lodha iThink. Several other business zones like the Akruti Corporate Park, Eastern Business District, Supreme Business Park, Godrej, Accenture, and L&T have established their offices nearby the region.
Property Rates and Trends in Kanjurmarg
In spite of a well-developed infrastructure, the property price in Kanjurmarg is at the affordable side making it a preferable real estate investment destination in Mumbai.
The price of properties in Kanjurmarg starts from Rs 10.40 lacs and the average price of properties in Kanjurmarg is Rs 1.81 crore.
According to real estate expert, “The average capital values in Kanjurmarg vary between Rs 12,000 per sq ft and Rs 15,000 per sq ft. However, property prices in the Kanjumarg East are slightly lower as compared to Kanjumarg West. For example, average property prices in Kanjumarg East are around Rs 12000-14,300 per sq ft whereas in Kanjumarg West its falls in the range of Rs 12950-15,600 per sq ft.”
Overall, the area offers good returns on investment too and hence making it a perfect residential destination among many prospective homebuyers.