For buying residential properties in Mumbai, one has to shell out a huge sum of money. The realty markets in the city offers residential properties falling under the luxurious segment. To buy affordable properties in the MMR, search for localities in Navi Mumbai and Thane. คอนโด ราคาถูก These are the growing suburbs of Mumbai and have a variety of options for the middle class buyers.
Thane District
Thane is just 90 kilometers from Mumbai and enjoys superb connectivity. A city in its own right, this is one of the popular suburbs of Mumbai. It comes under the district with the same name. Thane district of Maharashtra have some of the budget realty options such as Kalyan-Dombivli, Bhiwandi, Mira-Bhayander, Ambarnath, Ulhasnagar, Dahanu, Shahapur, Wada Palghar, Kulgaon-Badlapur, and Vasai-Virar. Most the industries in the state of Maharashtra are functional in Thane district.
One of the localities of Thane, Palghar is the new destination for affordable housing. Other localities such as Dombivali, Virar, Vasai which were said to be the falling in the affordable category have seen capital value appreciation in the recent years. Property prices in the above localities are increasing. With this, the demand for budget residential properties is shifting to new localities. Palghar in Thane is proving to a major realty investment option for budget buyers.
Low Prices of Residential Properties
Prices of properties are low in Palghar as compared to other localities. Prices of apartments vary between Rs 2,000-3,500 per sq ft. The other budget localities such as Virar, Dombivali, Vasai have properties priced at Rs 4,000-5,500.
One of the real estate developers said that this low pricing of apartments has made Palghar an attractive residential locality for budget buyers. The low costs is hugely making it popular destination with new project launches. Apartments demand is seen increasing with more number of buyers asking for 1 and 2 BHK units. The group of buyers usually is from the nearby areas, working in the industries around Boisar and Palghar. Limited budgets, they are demanding for smaller sized apartments.
Even Investors are flocking this destination. Mostly the demand is raised from the Mumbai investors, which accounts for about 60-70 per cent of the total property demand in Thane's Palghar.
Project Launches in Palghar
Following the demand trends in the locality, property builders are launching residential projects with smaller units. Apartments with 1 and 2BHK configurations are available in these upcoming residential complexes.
• Prithvi Complex by Oswal Realty • Paradise City by HDIL • VIVA Swarangan by the VIVA Group • Castle by HAWARE
Factors Influencing Growth
Any locality favoring realty growth is because of two important factors- Connectivity and Infrastructure. Palghar in Thane enjoys accessibility to various Mumbai localities. The Mumbai-Ahmadabad National Highway (NH8) crosses through this locality. It is expected that starting of the railway line from Virar to extend to Dahanu will further improve the connectivity. By March 2013, the line is expected to be functional. Realty experts feel that this will lead to rising of property prices in this locality.
Palghar also has good bus service and connects the locality to other areas of Mumbai. Basic amenities including educational institutes, hospitals, restaurants, shopping malls, etc have their presence in the locality.
The area is witnessing realty developments and with good connectivity, realty prices are expected to rise. According to property experts, this locality of Thane will increase in 20-25 per cent in the next coming year.
Palghar in Thane is thus becoming the next budget destination in MMR. Buyers and investors are searching for low price properties are heading to this neighborhood.
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