Chembur: The Rise of a Sought-After Residential Hub in Eastern Mumbai
Chembur's real estate landscape has evolved significantly
Mumbai Real EstateChemburResidential HubsInfrastructure DevelopmentProperty PricesReal Estate MumbaiMay 29, 2024
In 2023, Chembur accounted for 10% of the total supply among the eastern suburb markets and 27% supply among the adjoining markets. The area has also recorded a significant price appreciation, resulting in the narrowing of the pricing gap between established markets like Bandra, Worli, Dadar, Mahalaxmi, and Lower Parel.
The average sales trend in Chembur witnessed 837 units in 2019 and rose to 1200 units in 2023. The property rate (carpet area) was around INR 25,800 per sq. ft in 2021 and is expected to rise to INR 38,500 in 2028.
Chembur's strategic location ensures excellent connectivity to key business districts like BKC, Lower Parel, Nariman Point, Andheri, Powai, and Vikhroli. Infrastructure initiatives like the Eastern Express Highway, BKC Connector, and Santacruz-Chembur Link Road have further enhanced this connectivity.
The area benefits from excellent infrastructure, significantly improving its accessibility to other parts of Mumbai. The Eastern Freeway, Monorail, BKC Connector, Ghatkopar-Mankhurd Link Road, and Santacruz Chembur Link Road have drastically reduced travel time in Mumbai.
The Santacruz Chembur Link Road played a vital role in connecting the eastern corridor with the western suburban markets, boosting residential development in Chembur, Kurla, Ghatkopar, and Sion. Several innovative transportation projects are underway in Mumbai, including Pod Taxi, Water Taxi, Worli Sewri Elevated Connector, and Mumbai Travelator.
Chembur boasts of top-tier educational institutions, renowned healthcare facilities, and prominent retail destinations. The area features Mumbai's largest golf course, the Bombay Presidency Golf Club, situated at the heart of Chembur.
Chembur's vibrant trading community and thriving population have fostered a self-sustaining ecosystem. With a majority of the working population aged between 25-59 being the prime demographic for homebuyers, the area sees substantial demand for residential properties.
Chembur has transformed due to infrastructure developments, boosting connectivity, and driving real estate demand. Its affordability compared to other areas, coupled with improved infrastructure, has made it attractive to homebuyers and investors alike.
Cushman & Wakefield is a leading global real estate services firm that provides innovative and integrated solutions to its clients.
Frequently Asked Questions
What has driven the growth of Chembur's real estate market?
Factors like population growth infrastructure expansion and governmental policies have driven the growth of Chembur's real estate market
What is the current property rate in Chembur?
The property rate (carpet area) in Chembur was around INR 25 800 per sq ft in 2021 and is expected to rise to INR 38 500 in 2028
What are the key infrastructure initiatives in Chembur?
Key infrastructure initiatives in Chembur include the Eastern Express Highway BKC Connector and Santacruz-Chembur Link Road among others
What are the social infrastructure facilities available in Chembur?
Chembur boasts of top-tier educational institutions renowned healthcare facilities and prominent retail destinations making it an attractive location for residents
What is the demographic profile of Chembur's population?
Chembur's population consists of a majority of working professionals aged between 25-59 with a significant presence of students and university-goers and a high proportion of households with incomes exceeding 10 lakh
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