Dombivli emerges as the most-sought place for property purchase in Mumbai

Mumbai has remained among the top property markets over the last few decades in India. With the steady growth of commercial activities in the city, the demand for sophisticated homes has also increased. Presently, people from various parts of the country are looking for Mumbai Property, which is on sale. It should be noted, that the suburban areas around Mumbai have also witnessed an increment in the demand for such homes. Besides, the investors are looking forward to buying both residential and commercial real estate in Mumbai.

Among all the areas in and around Mumbai that have witnessed a high demand in property, Dombivli has topped the list. Some of the prime areas of investment in Mumbai include Badlapur, Navi Mumbai and Dombivli. These places lie close to the Mumbai Metropolitan Region (MMR). This area has witnessed a significant surge in the real estate demand in 2019.

A recent report reveals that Dombivli tops the list of the ten most active micro-markets for Indian real estate, considering the residential sector. This study was carried out, based on the number of new units that were launched in 2019. The research also reveals that the micro-market, in 2019 witnessed the launch of 7,130 new units.

On average, the property prices were around INR 6,597 per Sq.Ft. After Dombivli, Panvel has found its name in the second position, with 5,900 new units being launched. In this locality, the average property price is around INR 6,170 per Sq.Ft.

Badlapur also fared well in terms of popularity among the property owners. People are also interested in buying Thane Property and new residential and commercial projects in Navi Mumbai. However, Badlapur has turned out to be the fourth-most popular destination, both for the investors and end-users. Besides, the report states that the prices in Badlapur are now affordable.

This area also has good connectivity with the Mumbai Metropolitan Region. This has further strengthened the real estate industry in the area. The residents living in the real estate projects here can get a seamless reach to the prominent business zones in Mumbai.

One of the prime reasons for the high popularity of property in this part of Mumbai is a good infrastructure in the city. The residents here can easily get across to Thane and other parts of the city. In 2019, Badlapur witnessed the launch of several new residential units. Interestingly, the property prices here are the lowest among the top ten markets in the country.

Therefore, people from various parts of the country are buying real estate property in Mumbai, Badlapur. Given that the residents can enjoy a seamless reach to the key parts of the city through the well-connected roads, it would be easy for them to reach the commercial zones and other places. The social infrastructure in this part of the city is well-developed. A number of schools, hospitals, markets, shopping malls, and multiplexes are located close to the area.

In Badlapur, the average size of the property is as low as 500 Sq.Ft. However, property prices are gradually increasing. For property owners, this is a good time to make the investment. Over the next few years, property prices are likely to rise further. This will open up new investment potentials for the owners. On renting or leasing off these properties, you can enjoy a lucrative recurring income. Evidently, property prices are rising in Dombivli and new projects are getting booked quickly. This is a good time to buy the properties here. Investors can benefit in monetary terms in the coming years from these investments.