Chembur's Real Estate Market on the Rise: Infrastructure and Connectivity Drive Growth
Chembur's transformation into a premium residential hub in eastern Mumbai
ChemburReal EstateMumbaiInfrastructureProperty MarketReal Estate NewsMay 29, 2024
The average sales trend in Chembur's micro market witnessed a significant increase, from 837 units in 2019 to 1200 units in 2023. The property rate (carpet area) is expected to rise from Rs 25,800 per sq. ft in 2021 to Rs 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 launch of approximately 5,600 units in 2020 and 2021 by renowned developers has bolstered market dynamics.
Chembur also 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 proximity of Chhatrapati Shivaji Maharaj International Airport within a 12 km radius boosts residential demand in nearby areas like Chembur.
Cushman & Wakefield is a leading global real estate consultancy firm, providing expert advice to clients on all aspects of property investment, development, and occupation.
This report provides an in-depth analysis of Chembur's real estate market, highlighting the factors driving growth and development in the region.
Frequently Asked Questions
What is driving the growth of Chembur's real estate market?
Infrastructure developments improved connectivity and governmental policies are driving the growth of Chembur's real estate market
What is the expected property rate in Chembur by 2028?
The property rate (carpet area) is expected to rise to Rs 38 500 per sq ft in 2028
What is the significance of Chembur's strategic location?
Chembur's strategic location ensures excellent connectivity to key business districts like BKC Lower Parel Nariman Point Andheri Powai and Vikhroli
What infrastructure initiatives have enhanced Chembur's connectivity?
Infrastructure initiatives like the Eastern Express Highway BKC Connector and Santacruz-Chembur Link Road have further enhanced Chembur's connectivity
How has the launch of new units affected the market dynamics in Chembur?
The launch of approximately 5 600 units in 2020 and 2021 by renowned developers has bolstered market dynamics in Chembur
Related News Articles
Building a Sustainable Future in Construction
Real Estate, Maharashtra, Delhi NCR, Daniels School of Management, Wentworth Institute of Technology
Mumbai Property Registrations Witness 14% Decline in September
Mumbai property market sees a decline in registrations, Knight Frank report reveals
Timeless Lessons from Ratan Tata's Life for Future Generations
Discover the profound insights and invaluable lessons from the life of Ratan Tata, one of India’s most illustrious industrialists, as captured in Dr. Thomas Mathew's biography, 'Ratan Tata: A Life'.
Kolkata Leads in Home Affordability, Mumbai Poised to Follow by 2025
Kolkata has emerged as the city with the highest home affordability, according to a recent report by JLL. The report also projects that Mumbai will see significant improvements in affordability by 2025.
Homebuyers' Group Urges Government to Tackle Misleading Real Estate Ads
The Forum for People’s Collective Efforts (FPCE) has raised concerns about misleading real estate advertisements, calling for stricter guidelines and penalties to protect homebuyers in Maharashtra and beyond.
Real Estate Market Shows Cautious Optimism: Report Finds Positive Trends
A recent report highlights a cautiously optimistic sentiment in the real estate market, with over 1.1 crore units registered under RERA across 20 states since 2017, led by Maharashtra. Property prices have shown stability, and the market is gradually reco