There are a very few residential micro markets in Mumbai which has seen exponential growth and surge in infrastructural development like Chembur has seen. Chembur is one such location that offers home buyers that exclusivity in line with Mumbai’s housing growth narrative.
Chembur is a neighborhood that offers residents a perfect mix of good social infrastructure, connectivity, verdant surroundings and competitive pricing. Chembur offers home buyers a bouquet of residential properties which include high end apartments to villas and bungalows; all at a competitive price point, as compared to other premium areas in Mumbai. Today, Chembur is one of the most desired addresses to flaunt among home buyers in the city of Mumbai.
According to industry reports, the average property price is around Rs. 28,000 per square foot and depending upon the developer and the project this price hovers around 30,000-33000 PSF. The price appreciation has registered an 11% jump since the past one year, 11.9 % in the last 3 years, 4.2 % in the last 5 years and 30.1 % in the last 10 years, giving investors a higher RoI on their investments.
With ongoing infra up gradation across Mumbai, Chembur is now well connected to the rest of the city through an excellent network of road, rail, metro and monorail connectivity. This area offers ease of travel to several areas in Mumbai via the Eastern Express Highway. The Eastern Freeway ensures good connectivity to South Mumbai. The Santacruz-Chembur Link Road & the new Chembur-BKC Connector offers good connectivity to BKC and commercial zones across Mumbai’s western suburbs.
The Sion-Panvel Highway also ensures good connectivity to Navi Mumbai and commercial hubs located along the Thane-Belapur Road. There is monorail connectivity to Wadala and this line is being extended to South Mumbai’s Jacob Circle which will boost connectivity even more in the future. The metro line between Ghatkopar-Versova-Andheri is easily accessible from Chembur as well. In addition, the upcoming Metro Line 2B, stretching from DN Nagar to Mandale, will extend its connectivity to Chembur, thereby enhancing the region’s overall connectivity.
When you think of Chembur, images that conjure up in your mind are that of open spaces lined with a green canopy of trees and parks, set in tranquil surroundings. Chembur is home to some of the best educational institutes and healthcare facilities. In the educational space notable among them being V.E.S. College of Arts, Science and Commerce, Tata Institute of Social Sciences, St Gregorius High School, JBCN International School and K J Somaiya Hospital among others. In the healthcare segment, BARC Hospital and Wockhardt Hospital lead the pack. In addition, the locality has popular shopping centers like Phoenix Market City, K Star Mall and Cubic Mall. Gandhi Maidan, Annabhau Sathe Garden, Diamond Garden and Ambedkar Udyan are among a few of the famous gardens which attract people from across Mumbai. Bombay Residency Golf Club being the other vital aspect associated with the locality.
In conclusion, we can say that Chembur over the years has developed from being known as area housing oil refineries, now to one of the most sought after residential micro markets in Mumbai. It has all the right ingredients for its rapid growth and promises investors and home buyers high returns on their investments in the years ahead.
