Ghatkopar West is a suburban area in Eastern Mumbai. Along with good connectivity and infrastructure, the locality has reported a persistent rise in the property values, YoY. In case, you are looking to invest in a locality that offers healthy capital appreciation in real estate, Ghatkopar West could be an ideal choice to make.
Ghatkopar, over the years, has evolved as one of the most sought-after locales in Mumbai. The reason for the same can be attributed to a spate of infrastructural developments that have triggered an exponential rise in the demand for residential units in the locality. With new businesses mushrooming in the area and Mumbai metro easing commutation to the locale, Ghatkopar has gained prominence all across Mumbai. The locality is further divided into two regions - Ghatkopar West and Ghatkopar East. Mentioned below are some of the reasons which make Ghatkopar West a popular choice among the homebuyers.
Well-connected through roadways and railways, the locality enjoys proximity to the Eastern Express Highway. While Chhatrapati Shivaji Railway Terminus is located at a distance of 20 km, the distance from the Airport is merely seven km. Lying in proximity to the developed areas of Santacruz, Khar, and Juhu, Ghatkopar West also enjoys seamless access to Thane. A number of buses, operated by the Brihanmumbai Electric Supply and Transport Undertaking (BEST) offer smooth connectivity to these areas. The locality is also a stop for the local trains. Other than these, the locality also boasts of easy connectivity to other parts of Mumbai via Lal Bahadur Shastri Road (LBS), Tilak Road, and Mahatma Gandhi Road. Ghatkopar West is also accessible to Navi Mumbai via the Sion-Panvel Highway. Not only this, the locality is connected to Andheri via the Mumbai metro. The Western Expressway Highway metro station along the route eases connectivity to the highway.
Infrastructure plays a pivotal role
Ghatkopar West boasts of good social and civic infrastructure. There are several reputed schools, colleges, and health care centres in the locality. Some of the renowned educational institutes in the locality include Saraswati Vidya Niketan, Vidya Bhawan, and NIIT. Sarvoday, Jeevdaya, and Zynova are some of the known hospitals in the locality. Not only this, but the locality has also been witnessing an increase in the population owing to its proximity to several employment hubs such as Bandra Kurla Complex, Andheri, and Versova. All these fall within a distance of 5-10 km from Ghatkopar. Phoenix market city and R-City are some of the prominent malls for the rejuvenation needs of the inhabitants. Besides these, there are a number of other shopping outlets on the intersection of Vallabh Baug Lane and MG Road. The locality also has several eating joints catering to the hunger pangs of the residents.
Price Trends and Prospects of Growth
As per the data available with 99acres.com, nine out of 10 properties in Ghatkopar West are ready-to-move, with limited new supply in the pipeline. Lack of developable land parcels is a prime reason behind limited new launches in the locale. As a result, redevelopment of existing societies is a common sight here. The average capital values in the locality hover around Rs 17,000-19,000 per sq ft, with newly redeveloped projects commanding a premium over the older projects. With easy access to BKC, Andheri, and Versova, the locality is believed to serve the professionals who prefer staying in propinquity to their workplaces.
The rental market in Ghatkopar West thrives on its comparative affordability to the neighbouring localities such as BKC, DN Nagar, Bandra, and a few prime locales of Andheri.
While a 1 BHK apartment in Ghatkopar West costs around Rs 70 lakh-Rs 1 Crore, the homebuyers need to shell over Rs 1 crore for a 2 BHK residential unit. The monthly rental values in the locality hover around Rs 20,000-30,000 for a 1 BHK unit and Rs 30,000-50,000 for a 2 BHK apartment.
Marked by the presence of a large number of reputed builders such as Wadhwa, Skyline, Garodia, and Neumec, the locality is indeed one of the finest choices for real estate investments with healthy rental yield. The upcoming metro from Colaba-Bandra-SEEPZ will further add to the charms of Ghatkopar West. It will not only enhance the connectivity of the region to Church Gate but will also propel property prices along the neighbouring corridors.
According to Amit Wadhwani, Co-Founder, Sai Estate Consultants, Chembur Private Limited, Ghatkopar is an ideal destination from an investment point of view. Enhanced connectivity in the locality has contributed to a significant price rise over the past few years. Also, owing to its proximity to various commercial complexes including BKC, the demand for rental properties is high in the locality. However, the growing curiosity of homebuyers from the western, central and harbour lines to shift towards an area with necessary spots situated in proximity has enhanced the need to develop the infrastructure towards these lines. The rental value in the locality is currently pegged at Rs 50 per sq ft per month. The metro development plan proposed by the government is further expected to boost demand as well as capital and rental rates in the locality.”
Considering the recent price trends and the factors as mentioned here above, Ghatkopar West is expected to witness robust capital appreciation in the times to come. However, it is advisable to consult a local real estate agent or an expert before making any hefty investments.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.