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Goregaon Emerges As The Most Sought After Western Suburb in Mumbai
The western suburb in Mumbai has seen constant growth in terms of infrastructure and real estate development.
Goregaon, as a residential area itself offers many lifestyle facilities such as excellent connectivity to thee Western Express Highway, restaurants, shopping malls, reputed schools and colleges and healthcare facilities. The locality is famous for its entertainment factor. Gaming zones and parks like Shahid Tukaram Omble Park, Chhota Kashmir, and Picnic Point Garden are a prominent few. The area also marks the presence of few well-known nightclubs and pubs for those who want to explore the nightlife of Mumbai. In terms of religious places, the area boasts few known places of worship such as Vageshwari Temple, Shree Hanuman Mandir, Sunni Jama Masjid and St. Thomas Church. The locality is well developed in social and physical infrastructure. In fact, it is considered as one of the posh localities in the suburban areas of Mumbai that offers a high-class lifestyle with all the comfort and luxuries of daily life.
As far as the real estate in Goregaon is concerned, the area has seen some major residential complexes develop under the aegis of reputed developers. Many developers are investing money in the locality's real estate scene since the area is one of the well-connected parts of the city offering holistic lifestyle experience to the dwellers. The area's connectivity to Thane and main city of Mumbai is an added factor. With individuals working in the main city and as far as Thane, Goregaon seems to be a preferred residential location.
Another major reason for the growth of real estate in Goregaon can be attributed to the unaffordability of individuals to invest in other adjoining areas of Bandra,Andheri and Powai. This spills the demand for residential complexes in Goregaon since the property prices are comparatively affordable in the area.
Buyers looking for1 or 2bhk flats in Mumbai suburbs can find one in Goregaon under the budget range of INR 1 crore and above. The property sq, ft, size can range anywhere between 800-1300 sq.ft. for 2bhk flats, depending upon the amenities on offer. 3bhk flats can vary in their property size between 900-1500 sq,ft with price ranging between INR 2-3crore. With the demand of middle-income class individuals increasing with every passing year, many real estate developers are coming up with affordable residential projects under large townships and smaller units. These complexes offer high quality facilities, easy loan availability and EMI facilities for the middle-income individuals. The current rental value of properties in Goregaon is anywhere between INR 25,000-40,000 per month for a decent 1bhk flat in the eastern part of the locality while the western part of the area boasts of rent between INR 40,000-90,000 per month.
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