Exploring the outskirts of Mumbai – Real Estate
- 4 July 2018
Mumbai continues to draw interest as a prime housing destination. But it may be worth your while to train your sights on its suburbs – specifically on flats in Palghar – if a lucrative investment is what you have in mind.
Rapid urbanisation in India has created demand for housing projects across segments, with a chunk of this demand in affordable housing. India’s metros, home to some of the largest migrant populations in the world, are normally the first choice for those looking to buy their first homes. But housing in core city areas is more often than not unaffordable for most. At the same time, city suburbs are growing fast. For those who prefer affordable and quality housing in well-connected suburbs, there are plenty of options. A flat in Palghar, which is just outside the MMR (Mumbai Metropolitan Region) limits, presents such a growing opportunity.
Why invest in Palghar?
Several residential sub-markets in Mumbai have today evolved as housing hubs as developers have explored possibilities outside the MMR. People who are new to the city and feel that they cannot immediately buy a 1 BHK flat in Mumbai, are increasingly investing in areas like Palghar, Vasai, Bhandup and Navi Mumbai. Not only do these areas provide connectivity to Mumbai’s core metropolitan areas, but are also developing as fast-growing economic hubs themselves.
Good housing prospects: Per estimates, Palghar is yet to reach its peak pricing potential. This means that there is ample scope for ROI from investing in Palghar properties. As of now, buyer sentiment is in favor of affordable to mid-segment housing. Given the abundance of available land in these suburbs, housing projects here typically boast carefully designed features and amenities for the overall quality of life.
Good connectivity: Palghar enjoys good connectivity to the MMR region by road and railways. It has a railway station that services both local and outstation trains. Apart from connectivity via 26 daily trains, it is also connected to Borivali by the NH48. Palghar is connected to Gujarat via the proposed Ahmedabad to BKC bullet train, which is scheduled to have stops in nearby Vasai and Virar. Residents of Palghar properties are therefore well-positioned to leverage job opportunities in MMR and have a comfortable daily commute.
Good quality of life: Just as other areas in the district, Palghar enjoys ample green cover and serene, open spaces. There are various avenues for exploration on a weekend – a stroll in the nearest park with your family, and enjoying the sights of migratory birds making their way to and from the region every year. Besides, a number of good schools have come up in the area, apart from centers for recreation and advancements in infrastructure. You can find every amenity that you and your loved ones require for a happy life in the area. Thus, buying a flat in Palghar guarantees a peaceful, unhurried existence. Isn’t that what one needs at the end of a hard day at work?
And so, buying a flat in Palghar can guarantee you the best of both worlds – good future prospects for work and retirement life, and also umpteen avenues for enjoying your stay in the area with your loved ones.