As the Mumbai Metropolitan Region spreads its horizons across a wide area of 6328 sq km, each division within has something unique to offer. This abundance has enticed people from all over the world to appreciate this city, while it’s rather a privilege to experience life as a Mumbaikar. With such intense characterization of this city, the residential domain has been developed under the jurisdiction of MMRDA(Mumbai Metropolitan Region Development Authority) bifurcated into 9 municipal corporations.
Greater Mumbai is widely recognized as a posh area in Mumbai owing to its establishment into an urban area since the colonial period, also ranking high on Global Property Index. Although this area is the most sought-after location, the inflated realty prices often neutralize the living experience. However, the rapid industrialization has subsequently led to burgeoning residential areas in Mumbai scattered across other districts such as Thane, Western Suburbs and Mumbai Suburban District. These zones have upgraded the real estate market with quality premium projects that promise a luxurious lifestyle.
We have compiled a list of top residential areas in Mumbai from these sectors which are still untapped in the real estate market that substantiate the best living and Return on Investment:
Thane city is a major metropolitan of Thane district along with its satellite towns. Located in proximity to Mumbai City, this city is the perfect junction that connects the outskirts and the other parts of MMR. Under the governance of Thane Municipal Corporation, this area has been strategically developed to accommodate an extensive commercial sector, an advanced physical infrastructure and a harmonious residential zone, all within a span of a few decades.
Owing to these factors, the luxury segment in Thane is a hot commodity, while also offering a reasonable price range per sqft area. Some of the remarkable Godrej projects in the area are Godrej Pine, Godrej Exquisite, Godrej Nirvaan, Godrej Edenwoods, Godrej Emerald among many others.
Chembur is one of the central points of Mumbai that has branched out its connectivity to Western, Central, and Harbour Line seamlessly. With the Mumbai Monorail initiating from Chembur and the Mumbai Metro in the adjacent locality of Ghatkopar, the time-effectiveness of this area is of optimum convenience.
Chembur is also developed into a high functioning suburb under the Mumbai Suburban District that hosts the most prominent schools, colleges, and hospitals. The residential complexes form a sense of gated community, meanwhile, several PSUs are located in Chembur leading to high property value. The Godrej RK Studio property, Godrej Prime and Godrej Central, Godrej Serenity are some of the luxurious projects in Chembur.
Navi Mumbai is the planned city under the MMR, that has been renovated to an urban sector from a cluster of villages for an alternative to the Mumbai experience.
Vashi is one such prominent area in Navi Mumbai that is the closest in proximity to Mumbai City and has been developed under CIDCO and NMMC to integrate the corporate sector with one of the largest educational hubs. Along with this, several malls, eateries, and hospitality services are all established in this area. Vashi in itself is a self-sufficient city leading to a huge demand for the luxury segment in this area making it one of the best residential area in Mumbai.
4. Andheri and Chandivali
Andheri is not an unknown name in Mumbai, as one can spot several production houses, movie stars, and celebrities in this area. Apart from the glitz and glamour, Andheri is also known for its extensive corporate hub. It is a most posh area in Mumbai owing to its exuberant standard of living. Godrej Waldorf is a prominent residence in the locality.
The nearing upmarket residential area of Chandivali is yet another posh locale that offers several luxurious projects and a complementing plush ambience. Godrej Urban Park is one such highrise that stands tall lavishly.
5. Cuffe Parade
Cuffe Parade falls under the SoBo area, along with bordering Nariman lines in the north altogether forms the greater CBD region. Cuffe Parade is also deemed as the business district of Mumbai with numerous commercial and residential skyrises situated here. The property value ranges higher on the scale owing to the most prominent landmarks in this area. Needless to say, it is one of the best residential area in Mumbai for a luxurious lifestyle.
Godrej Glenelg is an exquisite modern architecture that boasts some of the best luxurious apartments.