How is the Market for Residential Property in Andheri East?

1. How is the Market for Residential Property in Andheri East? Andheri East is one of the most sought-after areas for real estate investment in Mumbai. Property market in this area offers a good mix of residential as well as commercial units. This area is not only blessed with quality infrastructure but its strategic location also makes it a favorite among property buyers. It is one of the most populated suburbs in Mumbai that is located in close proximity to Western and Eastern Express highways. Since it is in between two of the major highways, getting to any part of Mumbai becomes easy. This is one of the major reasons why residential property in Andheri East is always in high demand. Even commercial property in this part of Mumbai is in demand as various corporate houses have their offices in Andheri East and Powai. Due to this demand, rental rates are also high. Why Buy Residential Property in Andheri East? When compared to Andheri, Andheri East is quite affordable. Property rate per square feet in this area is approximately 30% lower than that of Andheri West. Due to the affordability factor, this part of Mumbai has become a prime choice of many buyers and investors. It is also in close proximity to the airport. It takes merely 15 minute to reach the airport from the eastern part of Andheri. Not just the airport but several malls and entertainment avenues are also close to this area. For instance, you can reach the R City Mall and Phoenix Market City within 20 minutes. Even Powai Lake is close to Andheri East. Metro rail is another major development that has pushed the demand for properties in this part of the city. This project will be reducing the travel time to the western part of Andheri. East is more congested compared to the western part; however, its strategic location and connectivity to commercial areas such as BKC, Lower Parel, Bandra Worli Sea Link and suburban areas in the east like Mulund, Powai and Vikhroli has made this micro market an attractive destination for property buyers. Many reputed developers are launching their projects comprising of luxurious 2 and 3BHK flats in Andheri East. These projects are laced with world-class amenities to offer better living experience to the buyers. What used to be an industrial location has now turned into a prime real estate destination. Compared to other micro markets in the city that are under pressure, property market in Andheri East has shown great resilience. Despite of challenges, this market has managed to retain its momentum. Touted as one of the fastest growing suburbs in the city, renowned companies, hotels, IT parks and educational institutions have chosen Andheri East for their establishment. Today, you can see various high-rise buildings and housing complexes that offer mainly 2 and 3BHK flats in Andheri East. Some developers are constructing residential townships in this area that will be catering to the housing needs of buyers who prefer opulence and luxury at its best.