Chembur's Real Estate Market Poised for Upward Trajectory
Infrastructure developments and improved connectivity drive real estate demand in Chembur
ChemburReal EstateMumbaiInfrastructureProperty PricesReal EstateMay 29, 2024
According to a report by Cushman & Wakefield, Chembur has emerged as one of the most popular residential destinations in eastern Mumbai. The area has witnessed a significant price appreciation, narrowing the pricing gap between established markets like Bandra, Worli, Dadar, Mahalaxmi, and Lower Parel.
The average sales trend in Chembur has seen a substantial increase, with 837 units sold in 2019 and 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 area is also well-connected to major industrial hubs, transportation nodes, and ports. Ongoing and completed projects such as Mumbai Metro Lines and MTHL project have improved connectivity to Navi Mumbai and within Mumbai as well.
Chembur's excellent infrastructure has significantly improved 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.
Cushman & Wakefield is a leading global real estate services firm that provides expertise to occupiers, owners, and investors. The company has a presence in over 70 countries worldwide and offers a range of services, including consulting, valuation, and property management.
Chembur is a suburb in eastern Mumbai, known for its historic significance and cultural heritage. The area has undergone significant transformation in recent years, driven by infrastructure developments and improved connectivity.
Frequently Asked Questions
What is driving the demand for residential properties in Chembur?
Infrastructure developments and improved connectivity are driving the demand for residential properties in Chembur
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 are the key business districts connected to Chembur?
Chembur is connected to key business districts like BKC Lower Parel Nariman Point Andheri Powai and Vikhroli
What is the significance of Chembur's location?
Chembur's strategic location ensures excellent connectivity to major industrial hubs transportation nodes and ports
What are the infrastructure initiatives that have enhanced connectivity in Chembur?
Infrastructure initiatives like the Eastern Express Highway BKC Connector and Santacruz-Chembur Link Road have further enhanced connectivity in Chembur
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