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Sonam Chauhan | sonamchauhan

Why are Investors Opting for Flats in Kandivali?

Sep 23rd 2015 at 4:25 AM

According to the real estate experts, boom in the housing market of Kandivali, Borivali and Malad in the months to come might result in price corrections. Reportedly, a total of 4 Crore square foot will be added to the suburban belt of Kandivali in the months to come. There is already 25,000-30,000 homes up for grabs in this area and increase in supply in the days to come may lead to a big drop in housing rates. Price correction will happen as a large portion of piled up housing stock will be entering the market.

If you wish to buy 1BHK flat in Kandivali, you will have to spend anywhere around 45 to 47 Lacs INR. Depending on the locality and quality of the property, rates can increase to 68 or even 70 Lacs INR.

Kandivali East is an important real estate market in Mumbai. It is one of the top localities of Andheri-Mumbai Dahisar, offering a good mix of residential and commercial properties. Some of the neighborhood locations of Kandivali East include Thakur Complex, Lokhandwala, Raheja Housing, Malad East among others. It is well connected to prime locations of Mumbai through the Western Express Highway. Many real estate developers have been launching their residential and commercial projects in this area as the infrastructure growth is also good.

Residential properties in Mumbai have become out of reach for many buyers; however, Kandivali and Borivali are two areas in the city that continue to offer properties at reasonable rates.  At 3000-4000 INR per square feet, these areas are an ideal destination for buyers who cannot afford to buy a flat in Juhu, Bandra or Andheri.

According to property experts, investing in flats in Kandivali is a good idea as they are quite affordable compared to properties in other areas of Mumbai.

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