Chembur's Real Estate Market Poised for Upward Movement
Chembur's residential real estate market has evolved from a mid-end to a premium category
Real EstateChemburMumbaiInfrastructureProperty PricesReal EstateMay 28, 2024
Chembur's residential real estate market has transformed from a mid-end to a premium category. In 2023, Chembur witnessed 10% of the total supply among the eastern suburb markets and 27% supply among the adjoining markets. The area has also recorded significant price appreciation, narrowing 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, rising to 1200 units in 2023. The property rate (carpet area) was around Rs 25,800 per sq. ft in 2021 and is expected to rise to Rs 38,500 in 2028. Chembur's 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 experts advice to property occupiers, investors, and developers. With a strong presence in India, the company offers a range of services, including valuation, consultancy, and research.
Chembur, a prime residential hub in eastern Mumbai, has witnessed significant growth in recent years. The area's strategic location, excellent connectivity, and improved infrastructure have made it an attractive destination for homebuyers and investors.
Frequently Asked Questions
What is the current trend in Chembur's residential real estate market?
Chembur's residential real estate market has evolved from a mid-end to a premium category driven by infrastructure expansion and governmental policies
What is the expected property rate in Chembur by 2028?
The property rate (carpet area) is expected to rise to Rs 38 500 in 2028
What are the key factors driving growth in Chembur's real estate market?
The key factors driving growth in Chembur's real estate market include infrastructure expansion improved connectivity and affordability compared to other areas
What is the significance of Chembur's strategic location?
Chembur's strategic location ensures excellent connectivity to key business districts industrial hubs transportation nodes and ports making it an attractive destination for homebuyers and investors
What are the upcoming infrastructure projects in Chembur?
Some of the upcoming infrastructure projects in Chembur include Metro lines 4 2B and 8 which will improve connectivity to other parts of Mumbai and Navi Mumbai
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