7 Best Places To Buy A Property In Mumbai in 2024 Buying Guide

The residential real estate market in Mumbai and the Mumbai Metropolitan Region (MMR) is experiencing robust growth, with 2023 witnessing highest-ever sales of new residential units. This surge in demand and supply indicates a positive trajectory for Mumbai's real estate market in the coming years. With its diverse economy, excellent infrastructure, and thriving culture, Mumbai is one of the most sought-after cities in India for both residential and commercial property investment. In this article, we will explore seven best areas that one can consider for property investment in 2024. 

1. Ghatkopar: 

Ghatkopar emerges as a thriving location, primarily due to the introduction of metro lines. 

Why invest in Ghatkopar?
Ghatkopar stands out as a bustling neighborhood, offering not just a place to live but a lifestyle of convenience and growth. Over the years, Ghatkopar has evolved into one of Mumbai's most sought-after localities, earning its popularity through excellent connectivity and proximity to key employment hubs such as Bandra Kurla Complex (BKC) and Andheri. The promising future of Ghatkopar is underlined by the continuous infrastructural developments in the pipeline. As a result, the real estate landscape in Ghatkopar is poised for further growth, making it an attractive destination for those seeking both a convenient lifestyle and a promising investment.

Looking for balcony homes in Ghatkopar?  Click here to explore 1, 2, & 3 BHKs starting at ₹ 1.05 Cr

2. Chembur:

In recent years, there have been different locations in Mumbai, which have proved to be really fruitful to real estate investors. And one such area is Chembur! Boasting excellent connectivity to key Mumbai hotspots and hubs like Andheri MIDC, SEEPZ, Lower Parel, and BKC, Chembur has proven to be a strategically advantageous location. 

Why invest in Chembur? 

Chembur has experienced a surge in housing projects and high-rise towers, attracting renowned real estate builders like Hiranandani Group, Godrej Properties & Rustomjee.  Its central connectivity to various areas and recent metro line developments make Chembur an attractive and affordable housing option. 

Click here to explore properties in Chembur

3. Santacruz West: 

Santacruz West is a suburban neighborhood in the heart of Mumbai that offers great investment opportunities in real estate. It's close to important commercial hubs like Bandra-Kurla Complex & Andheri and has easy access to the Western Express Highway. Properties here are in high demand for rentals because of the excellent location. Plus, upcoming Mumbai Metro Lines   2 and 3 will make Santacruz West even more accessible, connecting Dahisar, Bandra, Mankhurd,  Charkop, and Colaba with the Santacruz East and West Express Park. The area is also near restaurants, shopping centers, and cinemas, making it a top choice for both residents and investors looking for a great place to live or invest. 

Click here to explore Premium 2 BHK apartments in Santacruz

 4. Andheri:

Andheri, with its strategic location adjacent to major commercial hubs, has witnessed a surge in residential projects and amenities. The recent introduction of metro lines 2A and 7 has further enhanced its appeal. Andheri's proximity to key areas like Bandra-Kurla Complex and Lower Parel has contributed to its prosperity, resulting in an 8% year-over-year increase in rental values. The area's popularity among students traveling to colleges in Andheri and Vile Parle adds to its growing demand for accommodation.

Click here to explore 1BHK at ₹ 1.39 Cr onwards in Andheri. 

5. Goregaon

Goregaon, a thriving part of Mumbai, is now a sought-after real estate investment hub. With its dynamic growth, easy connectivity to Dahisar East and Gundawali through Mumbai Metro Line 7, and rising property trends over the last five years, Goregaon stands out. Ongoing infrastructure development, such as the Red Metro Line extension to CSMIA International and the Goregaon-Mulund Link Road, adds to its appeal. Positioned as a promising investment market in Mumbai, Goregaon's upward price trend and upcoming enhancements make it a compelling choice for realty investments. 

Ready-to-move-in 3BHK apartments in Goregaon starting at ₹ 4.7 Cr. 

 6. Mulund:

Mulund offers ample residential options and several commercial units. In addition to superior connectivity and sound infrastructure, the properties in Mulund have also shown a steady increase in the past few years. The proposed Goregaon-Mulund Link Road is expected to boost infrastructure and connectivity further, making Mulund a lucrative choice for property investment. Mulund is easily accessible by Mulund Railway Station on the Central line, ensuring seamless commute to other parts of the city. Additionally, the Mulund-Airoli Road facilitates easy connectivity to Navi Mumbai, enhancing accessibility for residents and adding to the overall appeal of Mulund as a thriving real estate hub.  

Explore spacious 3 BHK Apartments in Mulund

7. Wadala:

Wadala East and Wadala West enjoy a prime central location in Mumbai, providing convenient proximity to business districts, educational institutions, healthcare facilities, and entertainment hubs. The area's allure as an investment destination is heightened by its superb connectivity through major roadways, railways, and upcoming metro projects. Recent infrastructural enhancements in Wadala, including the introduction of new roads, flyovers, and the Mumbai Trans Harbour Link, have played a pivotal role in the region's evolution and expansion. These progressive developments have not only transformed Wadala but also captured the interest of real estate investors, signaling potential for future appreciation in the area. 

To explore 2,3 BHKs in Wadala, click here. 

Final Takeaway:

Investors in Mumbai's real estate market should prioritize location, keeping in mind accessibility, appearance, and amenities. A smart approach to investing involves considering the future development plans for the chosen area. As the real estate market continues to evolve, choosing the right location based on personal needs and preferences is key. In summary, "location, location, location" remains a timeless mantra in real estate, and wise investments require leveraging market knowledge for long-term gains. Choose wisely, invest smartly, and secure a prosperous future in Mumbai's real estate landscape.