Chembur Real Estate Prices Surge: Demand Hits Rs. 45,000+/sq. ft.


Chembur Real Estate Prices Surge: Demand Hits Rs. 45,000+/sq. ft.

Source: Moneycontrol
5 Mins
27th April 2024

There are certain struggles that a Mumbaikar considers ‘typical’ - the never-ending traffic, poor connectivity, the stresses of living in a concrete jungle, and the scarcity of green spaces. But what if we told you there's a hidden gem right in the heart of Mumbai that's addressing these very issues? 

Welcome to Chembur, a suburb with a vision for the future. 

Chembur is a neighbourhood with immense untapped potential. Its fantastic location, and the fact that a lot of land is reserve land with open recreational spaces dedicated for golf course, gymkhanas and parks gives it a sense of an exclusive, open, and airier locality. Superior connectivity, and ongoing infrastructure upgrades are positioning it as the solution to many of Mumbai's urban woes. This green suburb is not just a place but a promise of a better quality of life in the city. A suburb poised for remarkable growth in the coming years.

What truly sets Chembur apart from other suburbs is its quiet and peaceful vibe. Think tree-lined streets, manicured gardens, and a unique blend of culture and charm that create the perfect backdrop for unwinding after a long day. It's the kind of place where you can’t help but feel at ease.

But Chembur offers so much more than just tranquillity. Its vibrant food scene, rich cultural heritage, and thriving art community make it a captivating destination for residents and visitors alike. 

Chembur: Where the Future Beckons

Chembur has witnessed immense development over the years. The price appreciation has registered a 11% jump since the past one year giving investors a higher ROI on their investments.

With numerous reputed developers launching residential projects in the locality with ticket sizes upwards of Rs.45,000 per sq. ft. Some pockets also have several old societies that are being redeveloped, offering modern amenities and superior living conditions, making these prime locations extremely attractive for homebuyers and investors and experts maintain that properties in Chembur offer one of the best returns on investment.

What are the Factors Driving the Growth of Real Estate in Chembur?

Nestled in Mumbai's central suburbs, Chembur enjoys easy access to major employment hubs, renowned educational institutions, top-tier hospitals, bustling shopping destinations, and lush gardens. Let’s take a deeper look at why Chembur is a prime real estate location.

Educational Excellence

Chembur is home to esteemed schools such as St. Sebastian High School, Loreto Convent School, and Swami Vivekanand International School, ensuring that your children receive a world-class education right in the neighbourhood.

Healthcare Hub

In case of medical emergencies or routine healthcare needs, Chembur boasts exceptional healthcare facilities, including the highly regarded Surana Sethia Hospital, Apollo Spectra Hospital, and Joy Hospital, providing residents with peace of mind.

Strategic Connectivity

Chembur, situated at the heart of Mumbai, boasts exceptional connectivity to key destinations across the city. It's the gateway to thriving business districts like Ghatkopar, Bandra-Kurla Complex (BKC), Lower Parel, and Andheri. The Eastern Freeway, BKC Connector, MTHL and the Santacruz-Chembur Link Road offer a seamless journey to these bustling hubs, ensuring a swift commute for professionals and easy access to premium job opportunities.

Chembur is also well-served by the Chembur-Wadala Monorail and Mumbai Suburban. Railway which connects residents to various parts of Mumbai on the central and harbour lines. 

Thriving Infrastructure

Chembur is in the midst of a transformative phase with multiple upcoming infrastructure projects. The much-anticipated Mumbai Metro Line 4 expansion will provide swift and efficient connectivity, making it easier for residents to access the city's major employment hubs, cultural centres, and recreational areas. Additionally, the Mumbai Trans Harbour Link (MTHL) project brings unprecedented connectivity to Navi Mumbai and beyond, opening up new opportunities for residents and investors alike.

Moreover, the proposed coastal road development along Mumbai's eastern waterfront promises to provide not only scenic travel but also streamlined access to South Mumbai.

Retail Therapy

Shopaholics will delight in Chembur's shopping scene, with popular malls like K-Star Mall and Chembur Central offering a wide array of brands and dining options. Furthermore, residents can also enjoy exploring the bustling local markets. 

Chembur is well poised for a transformative future in real estate. 

Chembur East especially is emerging as the epicentre of exciting transformations which includes several infrastructure projects, and the face of Chembur East is set to change in the coming years.

As Published on MoneyControl: Read Here