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
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