The Andheri-Mira Road stretch in northwest Mumbai has caught the attention of potential homebuyers. Well-connected via Western Expressway Highway (WEH), the belt effectively caters to the residential and commercial requirements of the inhabitants and promises robust infrastructure. The average home values in the region range between Rs 8,000 per sq ft and Rs 18,600 per sq ft.

The 23 km-long Andheri-Mira Road stretch has become a popular housing destination in Mumbai. With several prominent and burgeoning micro-markets alongside, the belt offers an assortment of residential opportunities to potential buyers. While the localities, such as Andheri and Goregaon, cater to the premium and mid-income segment customers, Mira Road is a well-known affordable housing hub, boasting a considerable inventory share within Rs 50 lakh.

According to the 99acres Mumbai Insite Report, the Andheri-Mira Road stretch along with Central Mumbai locations garnered maximum enquiries for 1 BHK and 2 BHK units in the Apr-Jun 2021 quarter. The values of these configurations differ from Rs 90 lakh to Rs 1.5 crore.

Popular housing localities along Andheri-Mira Road stretch in Mumbai

Localities

Capital values (in Rs ) per sq ft

Monthly rental values (in Rs) per sq ft

Andheri East

18,600

45

Goregaon East

17,780

41

Malad West

17,380

40

Kandivali East

16,600

35

Source: 99acres Mumbai Insite Report (Apr-Jun) 2021

Andheri East- Andheri East is a popular micro-market comprising both residential and commercial developments. It has many offices, schools, colleges, restaurants, and hospitals, including the Seven Hills Hospital in Marol, one of the most well-known.

The Bandra-Kurla Complex (BKC) and the Maharashtra Industrial Development Corporation (MIDC ) are the major employment centres near Andheri East. With respect to connectivity, the Western Express Highway (WEH), Jogeshwari-Vikhroli Link Road (JVLR), and the National Highway (NH) 8 and the Western Railway Lines are the major commutation options, connecting the micro-market with other localities in Mumbai. The Dahisar East-Andheri East metro corridor, which is anticipated to be functional in 2021, would further enhance the connectivity quotient of the area and boost its real estate prices.

Residential apartments in Andheri East are priced at around Rs 18,600 per sq ft. Aside from attractive location and proximity to employment hubs, the properties in the area are also favoured because of the existing and upcoming infrastructure. While Andheri East sees high traction from homebuyers, it also witnesses steady demand for rental homes.

Goregaon East- Goregaon East is located between Borivali and Andheri, both are crucial employment and residential hubs. It is well-connected to the Jogeshwari-Vikhroli Link Road and the Western Express Highway. Also, because of its proximity to the Chhatrapati Shivaji Maharaj International Airport, the area remains a sought-after choice for many. The Mumbai Metro's Line 2A, which would connect Dahisar West to Andheri West via Goregaon East, may further boost the accessibility and housing demand in the locale.

Aside from the famed Film City, Goregaon East boasts of many schools, colleges, restaurants, cafes, and hospitals nearby. The major financial and IT firms, including IBM, Aegon, and Abbott, are also easily accessible within a distance of 4 km.

The average property prices in Goregaon East are around Rs 17,780 per sq ft. The micro-market offers a mix of residential options ranging from flats, independent houses and builder floors. A few reputed developers in the area include Lodha Group, Group Satellite, Oberoi Realty, and IM Buildcon.

Malad West- Apart from being a prominent business hub in Mumbai, Malad West is also known for its proximity to BKC, Andheri and the Oshiwara Business District (ODC). The area also has several schools, hospitals and malls, including Inorbit Mall and Infiniti Mall.

Malad West is connected to other localities in Mumbai, mainly through BMTC buses. Nevertheless, the completion of the Mumbai Metro Line 2 construction by September 2021 will increase the commutation choices in the area and catalyse residential and commercial growth. One of the major attractions near Malad West is Aksa Beach which is around 7.5 km away.

Residential properties in Malad West are priced between Rs 14,000 per sq ft and Rs 17,000 per sq ft. Bhoomi Group, KP Realty, and Shreeji Group are among the few realty developers having their projects here. Nearly 50 percent of housing units available for sale in Malad West are 2 BHK units, followed by 1 BHK configuration.

Kandivali East- As one of Mumbai's oldest residential areas, Kandivali East is home to a cosmopolitan population. The area is located in Mumbai's northwest region and offers seamless connectivity to other parts via Western Express Highway, Swami Vivekananda Road, Link Road, and the Goregaon-Mulund Link Road.

While Kandivali has a dedicated railway station, the Borivali railway station is also reachable at four km. The Chhatrapati Shivaji Maharaj International Airport is about 13 km from Kandivali East. The area is also close to many employment hubs, including Malad, Goregaon, Lokhandwala and Thakur Complex. Among other facilities, Kandivali East has several schools, hospitals and malls, including the renowned Kokilaben Dhirubhai Ambani Hospital and the Oberoi Mall. Together, these factors make it a suitable residential destination.

The home rates in Kandivali East range between Rs 14,000 per sq ft and Rs 16,000 per sq ft. The maximum inventory available for sale here is of residential apartments in 1 BHK and 2 BHK configurations. Godrej Properties, Kalpataru Group, Acme Group, and Keystone Realty are a few realty developers present in the area.

Mira Road- Mira Road is a budding stretch about 12 km from Central Mumbai. Once a suburb, the micro-market has seen the emergence of several housing projects in the affordable category and the increased inclination of buyers towards these developments have inundated a slew of social infrastructure projects in Mira Road.

In terms of connectivity, the Western Line of the Mumbai Suburban Railways serves the area. A metro line linking Gaimukh with Mira Road is also underway and slated for completion in 2022. Several private builders in Mumbai are actively developing affordable housing projects on Mira Road, and the Government assistance to such projects under the Pradhan Mantri Awas Yojana (PMAY) has further facilitated the development. The average home values in Mira Road are around Rs 8,000 per sq ft.

According to Rohit Poddar, Managing Director, Poddar Housing and Development Ltd, the well-developed employment hubs near Kandivali, Goregaon, Mira Road, Malad, and Andheri are transcending these areas from just being peripheries to the most desired locations in Mumbai. Their prominence has mushroomed over the years. Especially in the second quarter of 2021, post the COVID-19 second wave, these localities became the most preferred investment options for commercial units. The Kandivali- Mira Road belt has emerged as an affordable commercial substitute to the core social and infrastructure hubs, with bigger room spaces and proximity to residential spaces. Overall, the well-planned and designed social and commercial infrastructure is alluring investors to these areas from all over Mumbai. This trend might continue with exceptional connectivity through the coastal highways and the upcoming metro corridor.