Mumbai Property market as on Today is on its highest as far as the
property prices are concerned in any micro location. From here on, to predict as
to which area will have a better price appreciation is something absolutely
tough as the same is depending on a lot of Socio Economic Factors,
infrastructure development etc.
We have recently concluded a very deep Micro
Market Analysis and Research of “Andheri West” as a Micro Location and
found a few compelling reasons for this location to have brighter chances of
Strong Capital Appreciation over the next few years compared to other locations
around the city with similar attributes and price ranges.
Andheri West like a Bandra, Breach Candy or a Cuffe Parade has
evolved with time and is self sufficient with Hospitals, Theatres, Top
Restaurants, Great Residential Community, Schools, Colleges, Malls, Retail and
High Street Shopping etc. coupled with a Metro impact which will be starting
hopefully beginning of Next Year. The self sufficiency in this location with
effluent class living puts it at par with any other location which commands a
premium price and hence over the years we have even seen a good number of
celebrities, professionals and business families buying homes here.
To the South of Andheri West around 3-4KM away,
the prices in Juhu are in the range of Rs.25000/- and going upto Rs.40,000/-
PSF. Bandra West prices start at Rs.30,000/- PSF and go upto Rs.60,000/- Per
Sq.ft. So Andheri West is likely to be the obvious choice for Home Buyers who
are feeling the pinch of paying huge amount of Money in Bandra -
Juhu.
We have at least 7 New
Launches coming up in the next few weeks in Andheri West -
Lokhandwala/Versova/Amboli/ DN Nagar areas with configurations of 1, 2, 2.5, 3
and 4 BHK of Top Developers of India offering Apartment Blocks with all modern
amenities and A Grade Constructions. The New Launches are likely to be in the
range of Rs.15,500/- PSF to Rs.19,000/- PSF approximately, giving you a great
upside. These new launches
will rev up the Andheri West market and shift the focus of a Home Buyer from
other micro markets in the same price range and even compel the Home Buyer or
Investor due to the Strong Investment angle and Quality projects of Top
Developers.
In settled complexes like Oberoi Springs off.Link Road, the prices
are in the range of Rs.27000/- PSF for Ready to Move in Top Quality Houses and a
2.5 BHK - 1295 sq.ft apartment
sells easily in the range of 3.50CR. There has been no significant launch of any
project in Andheri West by Top Developers over the past few years and the
aspirational buyer is been waiting on the fence in this
location.
Andheri West is located in Western Suburbs in Mumbai.
Property Rates in Andheri West
The property rates in Andheri West for buying a property either from the Primary Market / Pre - Launch / Soft Launch / Under Construction start from Rs.18000 per sq ft on Built Up Area and they can go as high as Rs.26000 PSF. The rates for the Resale Properties in Andheri West may be Higher or Lower totally depending upon the construction quality, year and amenities in the building in Andheri West