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Andheri West Touted As An Upcoming Locality For Commercial And Residential Spaces

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Andheri West an Upcoming Locality for Commercial and Residential Spaces

Andheri West is being hailed as an upcoming locality for property investments both in the residential and commercial space. Let’s analyse the area to understand the perks available for real estate investors.

Mumbai’s real estate market is rediscovering Andheri West as a profitable investment avenue for investors in the immediate future. Posh areas like Lokhandwala and Versova are part of Andheri West and have always appealed the upper middle class investors. It is home to a plethora of high-end brand showrooms, restaurants, places of entertainment compared to Andheri East. West is known for its infrastructural indulgence with educational institutes, healthcare facilities, commercial and business spaces which have clearly defined it as the next best neighbourhood to invest in.

Favourable Development Plan

Andheri West has the most number of layouts, according to the latest development plan. With more than 400 layouts including recreational spaces and large plots it is considered to have maximum construction volume. It might not be the largest area in Mumbai but is the bulkiest in terms of buildable area.

Media Hub

Since the beginning Andheri West has been known for being the commercial hub with many offices located in this area. But professionals associated with media, television and the film industry also mainly prefer this area as there are a lot of production houses and agencies in the vicinity. Also because of this there has been area wise migration from posh areas like Bandra, South Mumbai and other such places to Andheri because of its connectivity and quality of life.

Connectivity

The location of Andheri West is geographically well placed and makes it the centre of all connectivity to every corner of Mumbai. The list of important roads includes the Jogeshwari-Vikhroli Link Road (JVLR), Andheri-Kurla Road, SV Road and Western Express Highway (WEH). Harbour Line belonging to the Suburban railway network, the Western Line and two metro lines connect with all parts of Mumbai apart from it being close to the Mumbai International Airport.

Best Property Prices and ROI   

The area boasts of its high-end infrastructure, best connectivity and being the corporate hub of the city, because of which the property prices are always on an upward trend. The average rates for renting a 1 BHK apartment range from Rs 18,000 to Rs 32,000, while 2 BHK apartments are anywhere between Rs 40,000 to 72,000. Purchasing property ranges from Rs 2.89 crores to 3.60 crores in this area, with prices expected to rise in the near future. Apart from this the other important factor considered in making the returns on investment on an all time is the rising demand for property investment in this area.

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