How Bhayandar East is growing as a realty power house

Mumbai, the financial capital of India, has been attracting migrants for decades. With most property hotspots in the city being either extremely expensive or too saturated, most buyers are eyeing the upcoming investor friendly micro markets in the suburbs. One such locality is Bhayandar East which is attracting buyers across segments as it offers homes to suit the budget of every income group. Located in the western suburbs of Mumbai, Bhayandar comes under the governance of the Mira Bhayander Municipal Corporation (MBMC). Bhayandar is divided into two parts by the rail line: East and West. One of the key reasons for the growth of Bhayandar is the connectivity it offers across the city of Mumbai. The Bhayandar railway station is one of the prime railway stations in Mumbai along the western line. The Mira-Bhayander belt also enjoys easy accessibility from the western suburbs through the Western Express Highway and Thane through the Ghodbunder Road. Due to its proximity to Mumbai and well developed connectivity to Thane, there has been a significant growth of population in this area. According to the 2011 Census average annual growth in the past decade in Mira Bhayandar stood at 4.5% as compared to a dismal 0.5% growth in Mumbai. Another key factor that attracts buyers looking for property is Bhayandar East is that unlike upcoming hotspots where the general trend is to cater to mid-segment buyers, this stretch has affordable properties and premium properties as well. For buyers looking for affordable homes in Bhayandar East, the prices for a 1BHK unit starts from Rs. 17 lakhs and goes up to Rs. 44 lakhs. For buyers looking for premium homes in Mumbai, Bhayandar East offers a variety of options of 3 and 4 BHK homes starting from 1 crore onwards. Complete with the latest facilities and amenities, these luxury apartments in Bhayandar East can be compared to any of the luxury homes in other the micro markets of Mumbai. As a result of offering homes that suits every investment segment, today Bhayandar East has become a preferred destination for sale and rent of properties in Mumbai. Bhayandar East also boasts of a well-developed social infrastructure for its residents to enjoy. Once lacking in all the basic facilities needed for urban living including water and electricity, today Bhayandar East enjoys all the facilities including uninterrupted water supply, well laid out roads, 24-hour electric power, and good mobile connectivity. Additionally the micro market also boasts of malls, schools, and reputed hospitals located in this vicinity. The growth of infrastructure has had a positive impact on the realty of the area and prices have been rising at a quick pace. According to data collected, the average property price in Bhayandar East is Rs. 7000 per sq.ft. According to Mr. Johann D’souza who recently invested in a 1 BHK flat in Bhayandar, “Bhayandar has witnessed a price hike in property rates in a short time and this has shown that Bhayandar is coming up as an important destination for all buyers across segments.”