Mumbra is a major Thane locality known for its excellent connectivity, affordable housing, and proximity to Navi Mumbai's employment areas. Mumbra has risen to prominence among real estate investors due to rising demand for residential apartments and builder floors. Continue reading to learn more about real estate investment in Mumbra, Thane.
Mumbra is a suburban locality in Thane near Diva, Airoli, and Rabale that is an extension of the Mumbai Metropolitan Region (MMR). Mumbra, once an agricultural expanse, has quickly developed into an urbane area with an excellent road network. Mumbra's proximity to industrial areas in Airoli and Rabale has played an important role in transforming it into a desirable housing hub.
Residential property options in the region range from affordable to premium budget segments in micro-markets such as Kalsekar, Shimla Park, Moti Baugh, Devripada, Kausa, Shivaji Nagar, and Daulat Nagar.
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Options for residential real estate
Mumbra has seen an average price increase of more than 10% year on year, according to navimumbaihouses listings. It provides the majority of residential apartments in an affordable budget segment, followed by builder floor units. Over 90% of the housing inventory in this area is priced under Rs 50 lakh.
The average property price in the area is around Rs 3,500 per square foot. Apartments with one bedroom are the most popular among homebuyers, followed by two bedrooms. Karrm Infrastructure, MM Group Mumbai, and Squarefeet Group are among the city-based developers offering projects in Mumbra.
Prices in micromarkets such as Parsik Nagar and Daulat Nagar increased by 8-10% in the last year. Mumbra has a yearly rental yield of around 6%, making it a popular destination for investors.
Commercial setting
Mumbra's commercial properties are mostly shops and retail outlets. A retail shop costs around Rs 20,000-30,000 sq ft on average, which translates into Rs 70 lakh for a shop with a plot area of around 300 sq ft. Mumbra East, Sonaji Nagar, Anand Koliwada, and Bombay Colony are among the many commercial options in the area. Mumbra commercial offices for lease cost around Rs 60,000 per month for a plot area of approximately 200 sq m.
Infrastructure for social interaction
Mumbra is strategically located alongside NH-48, providing excellent inter-city connectivity to Navi Mumbai, Pune, and other Maharashtra cities. The neighbourhood is about 35 kilometres from Chhatrapati Shivaji International Airport and has a dedicated railway station on the Mumbai Suburban Railway's Central Line. Several employment zones, including TTC Industrial Area, CIDCO Industrial Area, Dhirubhai Ambani Knowledge City, and Mindspace Business Park in Airoli, are easily accessible due to its excellent connectivity.
Mumbra is a preferred rental housing hub for working professionals due to its strong connectivity and proximity to several employment zones. Because of the abundance of hospitals, schools, and markets in the area, the majority of residents are families.
Future developments
Future developments in Mumbra will help to improve the area's connectivity to other parts of MMR. This includes the Airoli-Katai Naka Freeway, which will run through Parsik Nagar, a Mumbra sub-district. Furthermore, the under-construction Mumbai-Ahmedabad high-speed rail corridor is expected to include a station at Diva, which is about seven kilometres from the neighbourhood. This would help to improve interstate connectivity. Plans are also in the works to connect Mumbra and Airoli via Zipline, which would significantly reduce commuting time between the two towns.
With a plethora of upcoming developments and recent real estate market trends in Mumbra, it is safe to say that it has the potential to benefit real estate investors while also providing better accommodation options to end-users.
Source From:- navimumbaihouses
