5 reasons why Andheri is a great residential investment
In the yesteryears, Andheri, known as the 'suburban district’, was absorbed by Mumbai city as Greater Bombay. However, the suburban district has revived since the early 2000’s and has emerged as one of the prime residential & commercial real estate destinations in the country.
Andheri is one of the largest areas of Mumbai (considering the east and west side), and well-connected to most places in Mumbai. The eastern side was initially known only for MIDC and Seepz, but today it is home to some big corporate names, media houses and IT companies. It is better connected through the Western Express Highway and houses the middle and upper-middle-class segments due to its lower property prices. It also scores high on connectivity due to its proximity to the international airport.
Andheri West, on the other hand, is the older of the two regions but is known for its infrastructural indulgence with educational institutes, healthcare facilities, five-star hotels, TV & film fraternity and commercial spaces which have clearly defined it as one of the best neighbourhoods to invest in. It is a more upscale micro-market and considered to house some posh residential apartments in Mumbai, especially on the Lokhandwala and Versova side.
Configurations of 4BHK in Andheri constitute 13% of the total supply in West as compared to 3% in the East for these types of units. 1 and 2BHK in Andheri East occupy around 25% of the demand here.
Both the localities though offer a plethora of opportunities for investment and attractive returns.
Let’s look at 5 reasons why it’s lucrative to invest in the residential apartments of Andheri:
Presence of the metro rail and its proximity to the Western as well as Eastern Express Highways, make it easy to reach any part of Mumbai. Moreover, it is also close to the international airport.
One such residential property which enjoys excellent connectivity is Western Heights, Andheri (W) by Adani. These residential apartments in Andheri promise a privileged lifestyle with immaculate connectivity due to its proximity to metro, railway stations, flyovers and highways. It offers a choice of breathtakingly spacious 2BHK, 3BHK and 4BHK in Andheri’s finest location. At Western Heights, you can enjoy choice luxuries that you’ve only dreamed of.
The locality is witnessing an increase in population in recent years, owing to its proximity to various employment hubs. These include –
Bandra-Kurla Complex (BKC)
Film and television studios like Balaji Telefilms, Yashraj, Sony Entertainment, Sahara TV and NDTV
Quality of Life
Andheri provides its residents with all kinds of social amenities to live a happy and peaceful life. From popular schools like St Xavier's High School, Sardar Patel College of Engineering to 5-star hospitals like Seven Hills, Kokilaben Ambani Hospital, luxurious shopping centres like Oberoi and Infinity Mall, and world-class hotels like The Leela, ITC Maratha, Hyatt & Courtyard.
Best property prices & ROI
Being the corporate hub of the city, the property prices are always on an upward trend. Purchasing property ranges from Rs 2.89 crores to 3.60 crores in this area, with prices expected to rise soon.
In the new development plan, Andheri West has the highest number of layouts, exceeding 400, with large plots and recreational grounds, thus paving the way for more infrastructural developments.
Andheri is the final stop before the highly premium localities of Juhu, Vile Parle and Bandra begin. So, there is huge demand for housing in Andheri area, from people living in western suburbs and who want to get closer to the town at not so high prices.
All these factors have always worked in favour of Andheri. It was one of the biggest booming areas during the last real estate boom that started from 2007-08 and is likely to continue in the same vein when the next boom occurs.