3 most affordable areas in Mumbai in 2023

affordable areas in Mumbai
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Many people believe that buying an affordable home in Mumbai is a challenging task. Mumbai is one of the most expensive real estate markets in India and property prices in premium localities can easily cross Rs 30,000 per square foot. However, it is not as if people looking for reasonably priced apartments do not have an option.

There are many localities where the prices of apartments fall within the affordable range. Many of these apartments can be found in the suburbs, while a few localities in Mumbai also boast of affordable homes. These localities are well-connected, have spacious apartments, and promise homebuyers with high-living standards.

So if you are planning to buy property in Mumbai, here are 3 affordable areas in Mumbai that you can consider.

Borivali

Borivali is situated in Mumbai’s north-western part and comprises a mix of affordable and premium housing. It is one of the few areas in Mumbai where people can choose a budget apartment. The average price of property in Borivali is around Rs 20,000 per square foot, which makes it very affordable compared to some of the premium localities in the city.

Borivali offers numerous advantages to homebuyers. The locality is well-located and close to most of the social infrastructure like schools, hospitals, shopping complexes and entertainment zones. V Star Mall, Don Bosco High School, Orchids the International School, St Francis Institute of Technology, Lotus Multispeciality Hospital, and Apex Hospital are a few educational institutes, hospitals and malls in or around Borivali. ParineeAdney, Sanghvi Solitaire, and Neeta Niwas are a few properties in Borivali that you can consider.

Chembur

Chembur offers numerous options to homebuyers in terms of affordable housing. Chembur will particularly appeal to professionals because of its proximity to BandraKurla Complex, which is less than 10 kilometres away. Other prominent localities close to Chembur include Wadala, Trombay, Ghatkopar, Kurla, etc. Chembur comprises state-of-the-art infrastructure and the Eastern Freeway, Eastern Expressway, Santacruz- Chembur Link Road, NNMT, BEST, and Mumbai Monorail connect the locality with other parts of Mumbai.

DayanandSaraswati Marg and RamkrishnaChemburkar Marg are two prominent roads located in Chembur. Ambedkar Garden and Chimni Garden in Chembur are well known attractions and frequented by people looking to spend time in the fresh outdoor air. Social amenities like hospitals, schools, malls, etc., are a short distance from many homes making Chembur a perfect option for homebuyers.

Ghatkopar

Ghatkopar, a suburb located in eastern Mumbai, is one of the city’s most affordable areas. The average prices of property are around Rs 20,000 per square foot. Besides the mix of affordable and premium housing, the high-quality infrastructure, access to social amenities and a good public transit make Ghatkopar a suitable destination for homebuyers.

The Ghatkopar Metro Station provides an easy commute for the residents to business districts and other parts of Mumbai. The Versova-Andheri-Ghatkopar Metro Corridor has reduced travel time between Versova and Ghatkopar by 70 minutes thereby adding to the comfort of the residents. If you are looking for a superior lifestyle at affordable rates, you can consider Ghatkopar.

Conclusion

Mumbai is not only about high-end costly apartments. There are several affordable areas in Mumbai where you will find apartments at reasonable rates. The properties in these areas are well-constructed and comprise amenities that offer convenience to the homeowners. You can check the prices, features and other aspects of properties in these areas on Blox, India’s first consumer-centric real estate buying platform. You can scan through the various properties and locations and choose the one that suits your budget and needs.

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