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Sonam Chauhan | sonamchauhan

Market for Residential Properties in Kandivli is Growing

Oct 28th 2015 at 12:01 AM

Market for residential properties in Kandivli is growing. Several reputed developers are launching their projects in this area, offering units that are affordable compared to the rates in prime areas of the city. Reportedly, Kandivli is one of the three major areas that are expected to witness a drop in property rates. Other two areas are Malad and Borivli.

If buyers invest time in finding the right property and negotiate with sellers, they can get a good deal in Kandivli. As per property reports, a total of 4 Crore square feet will be added in the suburban belt of Kandivli, Malad and Borivli. These areas already have around 25,000 to 30,000 homes that are yet to be sold. Due to the increase in supply of housing units, experts are predicting a price correction in these areas. Piled up units will be released in the market and in order to make a sale, sellers and builders will have to do some price correction.

If you are ready to do some research and invest time in searching for a good deal, you can get a 1BHK flat in Kandivli between 45 and 47 Lacs INR. This is still less compared to the 1BHK rates in South Mumbai.

The eastern part of Kandivli is turning into an important market for residential properties in Mumbai. It is one of the top localities of Andheri-Mumbai Dahisar. Demand for properties in Malad-Kandivli stretch is also more than the supply. However, in the months to come, supply might increase along with minor price correction in property rates.

This stretch is witnessing an increase in demand for residential properties due to the growth in infrastructure and enhanced rail connectivity. These areas are also well-connected to the SV Road and Western Express Highway.

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