Mumbai's Chembur: The Emerging Hub of Real Estate Growth
Discover why Chembur is becoming the most sought-after residential hub in eastern Mumbai
ChemburMumbaiReal EstateInfrastructure DevelopmentResidential HubConnectivityDemographicsReal Estate MumbaiMay 28, 2024
Chembur's residential real estate market has evolved from a mid-end to a premium category, with a significant appreciation in property prices. The area has witnessed a 10% increase in total supply among the eastern suburb markets and 27% supply among the adjoining markets. The average sales trend in Chembur has risen from 837 units in 2019 to 1200 units in 2023, with property rates expected to increase 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. Additionally, Chembur is well-connected to major industrial hubs, transportation nodes, and ports.
The area boasts of top-tier educational institutions, renowned healthcare facilities, and prominent retail destinations, providing residents with diverse shopping options. Chembur also proudly hosts Mumbai's largest golf course, the Bombay Presidency Golf Club.
Demographics show that 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, with a significant presence of students and university-goers and a high proportion of households with incomes exceeding 10 lakh.
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Cushman & Wakefield's report on Chembur highlights the area's emergence as one of the most sought-after residential hubs in eastern Mumbai.
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Cushman & Wakefield is a global real estate services firm that provides expertise to occupiers and investors around the world.
Frequently Asked Questions
What is driving the growth of Chembur's real estate market? A: Infrastructure expansion governmental policies and population growth are driving the growth of Chembur's real estate market Q: What is the expected property rate in Chembur by 2028? A: The property rate is expected to increase to Rs 38 500 per sq ft by 2028 Q: What are the prominent educational institutions in Chembur? A: JBCN International School Ryan International School and St Sebastian High School are some of the prominent educational institutions in Chembur Q: What is the demographics of Chembur's population? A: A majority of the working population (51%) is aged between 25-59 with a significant presence of students and university-goers (35%) and a high proportion of households (40%) with incomes exceeding 10 lakh Q: What are some of the innovative transportation projects underway in Mumbai? A: Pod Taxi Water Taxi Worli Sewri Elevated Connector (SWEC) and Mumbai Travelator are some of the innovative transportation projects underway in Mumbai
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