Borivali is a suburban area located at the northern tip of western Mumbai. With the prospective ideal of infrastructure, Borivali is famed as the "Suburb of gardens". The locality was subsequently divided into two halves by the railway line, Borivali East and Borivali West.
Borivali is especially famous for the Sanjay Gandhi National Park, which encompasses an area of 104 sq km. It is noted as one of the major national parks existing within a metropolis limit and is one of the most visited parks in the world, attracting more than 2 million visitors every year. Tourists also enjoy visiting the 2400-year-old Kanheri caves sculpted out of the rocky cliffs which lie within the park.
Apart from a bustling tourism, Borivali also provides for a sought after residential destination. Its well-built social infrastructure including healthcare centres, educational institutions, cafes, restaurants, parks and shopping malls are major factors fueling growth of housing demand.
The heart of Borivali is barely 5 minutes away from the Link Road, while the Western Express Highway can be reached within 10 minutes. Proximity to the SV road eases traveling to the railway station. When it comes to travelling by public transport, various modes such as auto-rickshaws, taxis, BEST buses and trains are available in Borivali. The BEST buses connect Borivali to as far as Thane, Vashi, Wadala and Sion. Several outstation buses going to places all over Maharashtra also start from the Sanjay Gandhi National Park area, providing it a seamless inter-state connectivity.
While the domestic airport is about 18km away, the international airport is approximately 14 kilometers from Borivali.
The upcoming monorail and metro line are expected to further improve Borivali’s approach with the rest of the city. Execution of these projects will make travel and infrastructure top notched in the area.
Capital Price Trends
Borivali has seen fluctuating price trends over the last few years. In 2007, the capital rates were around Rs 6,000 per sq ft. While they dropped to Rs 5,000 per sq ft in 2008, they went up to as high as Rs 16,000 per sq ft in 2012. The price changes in Borivali have been steady and currently lead a graph between Rs 14,000 and 16,000 per sq ft. During new launches of projects, there is a thumping rise in price trends, whereas the available projects witness rather stable prices.
Rental Price trends
While the rental values in Borivali too have witnessed major fluctuations, they are mostly backed by the increasing property size as well as price. The average monthly rent for a 1BHK property or in some cases a 2BHK property, has scaled from as low Rs 12,000 to 13,000 to as high as Rs 25,000. The rates for a 3BHK and 4 BHK apartment could range between Rs 30,000 and Rs 50,000 per month, depending on the floor plans and location within Borivali.
Due to a steady rise in property prices, investment in the housing sector of Borivali is a brilliant choice. Already, the property prices in the locality have appreciated by more than 100 per cent. Moreover, with a bustling rental market, one can earn a healthy recurring income.
Author's note: The author completed his MBA in Finance and Marketing in 2012 and founded the the Geopreneur Group at the young age of 24. He won the "Young Achiever Award" and the "Emerging Developer of the Year - Residential" at National Awards for Excellence in Real Estate & Infrastructure 2015.
Disclaimer: The views expressed in the article are solely of the author and may not represent 99acres.com's opinions on the subject. 99acres.com does not take responsibility for any actions taken based on the information shared by the author.