Property in Mumbai Below 50 Lakhs

Distinguished builders like Tata, Godrej and Lodha have already launched their products in this area. The prices normally come down as we move from southern to northern peripheral areas in Mumbai.

A few attractive investment destinations for those looking for a property within a limited budget are:

Navi Mumbai: Since the last few years, Navi Mumbai has shown rapid development in terms of the real estate sector mainly due to the planned development happening here. While the real estate rates have increased considerably in Mumbai, and there is limited land availability, Navi Mumbai still has lots of residential options in the price bracket of Rs 30-50 lakhs. The major factors that will change the face of the city are the proposed Special Economic Zones at Ulwe, Dronagiri, and Kalamboli. Secondly, forthcoming international airport is expected to generate huge employment opportunities thus giving a boost to the commercial and residential property market. There are also several other residential options available within this budget range in areas like New Panvel and Boisar which are well linked to Mumbai both by rail and road.

Asangaon: This locality, still under development, is a part of Thane district and is set up on Mumbai-Nashik Expressway, 70kms from Mumbai. The area has a wide range of projects of 1 and 2BHK configurations covering 450-1200 sq feet of area and priced below Rs 50 lakhs. Housing over 400 manufacturing units, the locality flaunts its own railway station and offers the property at lower rates in comparison to other areas of Navi Mumbai and Thane. Nashik: The area is 150 kms away from Mumbai and is emerging to be a hot real estate destination due to its infrastructural development. The travel time between Mumbai and Nashik has reduced to almost half with the completion of Mumbai Nashik Expressway. Areas like Indira Nagar and Pathradi which are a part of this city are potential investment destinations.

Kalyan: This area due to its proximity to the commercial establishments and Kalyan rail junction will have a lot of projects below Rs 50 lakhs by some of the leading developers. The area allows hassle-free commuting and has excellent connectivity by all means of transport. A branch of Mumbai University is expected to open here which will increase the rental housing demand in the area.

Ambernath: This is a historical place where the Temple of Ambernath is located. The forthcoming projects like Badlapur and Ambernath Railway station and highway would assure a good future for the residential real estate market in this area as the traveling time would be considerably reduced. Dombivli: The area well connected to Thane and MMR has a good mixture of ready to move and under construction projects in the affordable price segment which serves as an excellent investment option for both investors as well as end users.

Hence with the increase in demand for affordable housing, the best places for investment are Khargar, Kalyan, Shahapur, Dombivli, Vasai-Virar region, and Badlpaur. These areas have some good residential options from the top builders. Regions beyond Kalyan on the central line and Ambernath can also be considered for decent sized 2 BHKs.