Mumbai, a beautiful, sprawling, populous city, is also the capital of the state of Maharashtra. The hub of heritage sites, billionaires, and movie destinations, Mumbai is a city of many things for many people. The sprawling ever-developing city is not just a home to a rich heritage of the local people. It is now part of the sixth most populous metropolitan area globally – the Mumbai Metropolitan Region(MMR). This region is full of growth and development that many people would like to participate in.
Why should you invest in Mumbai / MMR?
The MMR is a region that includes the metropolis of Mumbai and has been developed for 30-40 years. It is also one of the biggest contributors to India’s overall GDP. This makes Mumbai & MMR an attractive investment destination. Investing in this area would mean having a part in some of the modern developments of urban city innovations. Future development of Mumbai is going to be even more exciting as the city is going to expand and urbanize further.
In this article, we will compare various localities in and around Mumbai where one can invest in a property. Through our detailed analysis, you will be able to gauge pros and cons of various popular investment belts in Mumbai & MMR and decide which area is suitable for you and your family.
As expected, a list of best locations to invest in Mumbai / MMR can be very subjective. Hence we have tried to provide you a clear understanding of each location in Mumbai / MMR for your self analysis.
Best areas for Investment in Mumbai & MMR
Areas around Western Line
Goregaon is a suburb in Mumbai that connects many railway lines to the core of Mumbai city. The main one is the Western Line. The area has easy transport to the rest of Mumbai; the primary mode is by train or better known as Mumbai local.
Goregaon is known for its Conservation Education Centre (CEC). This center has implemented 24 educational projects. It also has books for education teachers and students alike on the history of nature.
Apart from this center, Goregaon has many schools, namely Ryan International School (ICSE), St. John’s Universal School (ICSE), Lakshdham High School (ICSE) and Junior College (State Board) and many more reputed schools and two notable colleges – Indira Gandhi Institute of Development Research and Patkar-Varde College.
Several trusted hospitals in Goregaon, namely Lifeline Hospital, Kapadia Multispeciality Hospital, SRV Hospital and many more will provide you with best care. Besides the educational institutions and health care centers, Goregaon is also known for its Film City, which is predominantly used for Bollywood and others.
Oberoi Mall, City Centre Mall, Topiwala Center Mall and Lifestyle Stores are good places for shopping, events and a few superfoods. You can save for women’s and men’s styles from manufacturers.
All these schools, hospitals, and notable attractions around Goregaon make it a significant property investment destination that you don’t want to miss out on.
Borivali is a residential area found in the northern region of Mumbai. It also has many cultural sites in the area. It is well connected through railways and metro lines. This residential area has many high schools, namely JBCN International School (ICSE), VIBGYOR High (ICSE, CSBE boards), C.P. Goenka International School(ICSE) and many more that are well connected.
Most people are intrigued by Borivali when they learn that it houses Asia’s largest water park – Water Kingdom. It also is well known for Gorai beach, at the western end of Borivali.
Borivali railway station is also the biggest railway station in the Western railway system of Metropolitan Mumbai. Apex Hospitals Borivali, Lotus Multispeciality Hospital and many hospitals are here for any emergency service and treatments.
Shopping malls like Indraprastha Shopping Center are available in Borivali.
Andheri is both a residential and commercial area. The railway station in Andheri is also a part of the Western Line. Andheri does not have many schools, but the ones present are the best in the field. Holy Family High School & Junior College (State board), St Mary’s High School(ICSE), Marble Arch School and many others. It is mainly a residential and commercial area.
Andheri has Infiniti Mall, Laram Shopping Centre for shopping and good facilities for medicals also like Seven Hills Hospital, Independence Hospital etc. But Andheri has widespread transport and connectivity through railway, metro, and road. With all the area’s connectivity, it’s an excellent place to invest.
But since it is the closest suburb from mainland Mumbai, property prices are also on the higher side when compared to other localities in Western like like Goregaon and Borivali. Since Andheri is low lying, it relatively gets more flooded in monsoon rains compared to other localities in Western line.
Juhu is close to the International Airport of Mumbai. It is a very affluent area. Juhu Beach faces the Arabian Sea and is famous as a tourist attraction, even for locals. Many celebrities have their home in Juhu, and because of this, the flow of visitors to Juhu and its beach is never slow. For this reason, it is also ranked as one of the costliest areas in Mumbai.
There are many renowned schools in Juhu, namely C.P. Goenka International School(I.B., CIE board), Ecole Mondiale World School (I.B., CIE board), St. Joseph High School (State Board ) and many more. St. Andrew’s College is one of the famous institutes here.
The only setbacks are the monsoon floods that many areas in Mumbai face during Indian monsoon seasons. But even with the weather problems, Juhu is one of the most famous places in Mumbai and one of the poshest places to invest.
Areas around Central Line
Thane, formerly known as Thana, is a residential suburb northeast of central Mumbai. It is also known as the “City of Lakes” for the lakes found in and around the city. The city is also known for its industrial hub of chemical, textile, and engineering industries.
The city lies at the mouth of the Thana River, and the hills often face the brunt of the monsoon rains as they head into the region. But even then, the transport is well developed with both railways and metro running through the city.
Thane has Viviana Mall, Korum Mall, R-Mall for great shopping. Jupiter Hospital, Bethany Hospital, Horizon Hospital and Highland Hospital are some of the big hospitals for medical needs in Thane.
Thane is known for wide range of good schools namely Smt. Sulochanadevi Singhania School(ICSE, I.B boards), DAV School (CBSE), Vasant Vihar High School & Junior College (ICSE), Smt. Sunitidevi Singhania School (ICSE) Universal High School, Spring Buds International School(CBSE board), Euro Kids School, Rainbow School (CBSE), Amber International School, St. Xaviers School, St. Soldier Public School (State board), RBK International School(CIE board) and many more.
The colleges are of different kinds, ranging from art and architecture colleges to law colleges and engineering and technology colleges. Thane has many educational institutions that provide quality education, such as the A. P. Shah Institute of Technology and Asmita College of Architecture.
Undoubtedly, Thane is a very well developed residential locality in MMR and has everything that you need for making a property investment in Mumbai.
Found in the northeastern region of Mumbai, it runs alongside the foothills of the Sanjay Gandhi National Park. There have been a few engineering companies in the area, but after they moved out, the area was taken over by other industries. Tridev Shopping Mall, R-Mall and Jalaram Shopping centers are the shopping malls to roam in Mulund.
Aditi Hospital, Dhanwantary Hospital & Intensive Cardiac Care Unit and Mulund Maternity Home are the hospitals for treatment.
Mulund is primarily residential and is considered a safe region of Mumbai. It has gated communities and residential areas, which provides the residents more safety than just their lock and key. Mulund has a sound transport system of trains, buses, and a national highway that connects it to other regions via Eastern Expressway.
There are excellent schools in Mulund like NES National Public School (ICSE board), Orchids International School(CBSE board), Smt. Vidyaben D. Gardi High School & Junior College(CBSE, State Board) and many more. A safe home and sound transport are all you need to put your money in.
This is a smaller residential suburb near Eastern Expressway. It is connected to the Central Line of the railway system of Mumbai and it is also a small commercial hub.
Vikhroli has several high schools and colleges; some of the renowned ones are Udayachai High School(CBSE), Orchids International School(CBSE) and Kalpavruksha School(IGSCE board) and Rajashri Sahu College of Law.
Malls in Vikhroli include R-City Mall, Huma Mall, Galleria Shopping Mall, Marriage Mall, Phoenix Marketcity Mall, Neptune Magnet Mall, and R Odeon Mall. Godrej Memorial Hospital, Atul Lok Hospital, and Aastha Hospital are some of the prominent hospitals for medical needs and treatment.
Vikhroli is also surrounded by employment hubs that provide opportunities for many people, such as Godrej One, Godrej and Boyce Industry Estate, 247 Corporate Park, Kailas Business Park, Lodha i-Think Techno Campus, Hiranandani Business Park, and Kensington SEZ. With all the inflow of people looking for employment, it is never a dry land and is well connected with Western, Central and Harbour lines.
Areas around Harbour Line
Found in eastern Mumbai, Chembur is a residential and commercial hub. The region is divided into different colonies, each one well connected with the rest. Chembur has good railway connectivity with the rest of Mumbai, and is also connected via road.
K Star Mall, Cubic Mall, Rishabh Shopping Center are the shopping malls and hospitals in Chembur include Chembur Hospital Project Trust, Chembur Hospital & ICCU, SRV Hospital.
However, even with good connectivity, it is difficult to beat the traffic jams that increase with eerie years as there are more and more car users. Chembur does not have many educational institutions, but there are some good ones namely our Lady of Perpetual Succour High School(State board), St. Gregorios High School(State board), and a few, but just like Vikhroli, it is close to employment hubs.
Vashi is located next to the Mumbai-Pune highway. It is a well-planned locality with reasonably affordable residential areas compared to the rest of Mumbai. It marks the beginning of Navi Mumbai region as you travel along the Harbour line.
Vashi is a house to many schools, namely Goldcrest High School(ICSE board), St. Mary’s School(ICSE board), Army Public School(CBSE board), Delhi Public School(CBSE), and many more, and also many colleges and employment hubs close to it.
Vashi has amazing shopping malls such as Palm Beach Galleria Mall, Inorbit Mall and Raghuleela Mall. Medical treatment is also good here because of Fortis Hospital which is one of the best hospitals in Navi Mumbai, MGM Hospital and Vinamra Swaraj Hospital.
Vashi is well connected like the rest of Mumbai, via railway. A good infrastructure and proximity to South Mumbai and emerging Navi Mumbai makes it an excellent place to invest in.
Like Vashi, Kharghar is also a node of Navi-Mumbai. Many infrastructure projects are happening in the area as it is still developing. It is also connected via railway to other areas and has connectivity with employment centers.
Kharghar is a well-planned but still developing locality. Little World Mall, Paradise Mall, Prime Mall are the shopping malls in Kharghar. Hospitals like Kharghar Multispeciality Hospital, Kharghar Medicity Hospital, Aayush Hospital are major hospitals in the region.
There are several schools in the Kharghar like VIBGYOR High(CBSE, CISCE, Integrated Curriculum School), Ryan Global School(CIE board), Apeejay School(CBSE board) and many more that cater to various needs.
Kharghar also has educational institutes namely the National Institute of Fashion Technology (NIFT), Zee Institute of Creative Art and Zen Education and Learning.
Yet another node of Navi-Mumbai. Panvel is a developing residential community and fast expanding one. It is more populated than other Navi Mumbai regions as it is one of the oldest residential belts in Navi Mumbai. It has many industries housed in the area, which helps in its development.
Panvel has many healthcare facilities and educational institutes like Dr. Pillai Global Academy(I.B., CIE School), Kendriya Vidyalaya ONGC PANVEL(CSBE board) etc.
Shopping malls like The Panvel Shop, Orion mall and Shopping Store are present here, and hospitals like Panvel Hospital, Lifeline Hospital, and Panacea Hospital are available for your medical needs.
Panvel has good connectivity and although it is not close to any employment hubs, it is getting there. The development in the region itself can turn it into an employment hub in the future. Thus it becomes a good investment.
Panvel also has strategic significance as majority of roadways transport of goods into Mumbai happens via Panvel from rest of Maharashtra especially Pune. Many transport companies have set up their base in Panvel for the same reason.
Areas around Trans-Harbour Line
Airoli is a developed residential area in Navi Mumbai. It is considered as the gateway of Navi Mumbai when we approach from Thane. Airoli is easily connected via road to both Mumbai and Thane. Airoli is often known for its Knowledge Park.
Airoli is an area developed to house several IT companies and their various buildings. Being a residential area, it also has many schools, namely VIBGYOR High(CBSE, CISCE, Integrated Curriculum School), Ryan International School(CIE board), DAV Public School (CBSE), Datta Meghe World Academy, and many more, and there are many colleges also located in the region.
Airoli is also considered an employment hub because of the Airoli Knowledge Park also known as Mindspace Airoli. Shopping malls like Siddhivinayak Shopping Complex, Raha Fashion Hub, Shree Gurukrupa General Stores are available, and hospitals like Indravati Hospital, Sanjivani Hospital, Rajmata Jijau Hospital and NMMC are present in Airoli. Proximity to one of the biggest tech parks in Mumbai makes Airoli a good investment area.
Ghansoli is known for housing the corporate office campus of Reliance Group. It is an excellent residential area; there are many schools around, like Goldcrest High School(ICSE board), Dr. Yashavantrao Dode World School(ICSE board) and APS school(CBSE board) and many more.
Shopping malls like New Max Mall, Inorbit Mall (close to Vashi), Raghuleela Mall, Center One Mall, Dg Mall, Full Stop Mall are here, and hospitals like Laxmi Multi Speciality Hospital & ICU, Divine Hospital are present in Ghansoli.
However, Ghansoli’s importance lies in it being an employment hub. With the Reliance Group in the area, the region has become a hub for other businesses and ventures too.
Many people looking for opportunities would move to Ghansoli for the opportunity to work at one of the industries or companies housed here.
Top builders for investment in Mumbai & MMR
Many eminent Builders/Developers have developed key projects in Mumbai & MMR. Given the fact that MMR controls around 32% of the residential real estate market of India, these Builders in a way are shaping the real estate market of India. They constantly feature in Mumbai real estate news too.
Mumbai has always been known to be an aspirational city with immense employment opportunities, industries, good healthcare, social infrastructure, great connectivity via rail/road, good schools and colleges.
These Builders have been investing in land to build residential projects across the city. Some of the prominent Builders in Mumbai / MMR include:
● Lodha Group
● L&T Realty
● Godrej Properties
● Dosti Group
● Wadhwa Group
● Indiabulls Infraestate Limited
● Oberoi Realty
● Runwal Group
● Ashar Group
● JP Infra
● Raymond Realty
All the investment areas in Mumbai & MMR that are listed above have their particular incentives. Investing in them would not be such a bad idea as they have great connectivity and commuting to mainland Mumbai is easy from these localities.
With improving social infrastructure day by day, these regions will further flourish and develop quickly. It will also help in increasing the flow of people into the Mumbai suburbs thereby decongesting Mumbai. And it will balance out employment and housing needs of the city. These areas will never lose the influx of people – both local and foreign visitors because of the sheer opportunity that Mumbai as a whole provides.
Mumbai is a metropolitan city. The Mumbai Metropolitan Region is a thriving area. It benefits greatly from having well-connected localities. This is helping MMR grow and develop at a rapid pace. Besides this, it also has many heritage sites and culturally important areas. This makes it not only an area of growth but also culturally rich. People will go to some localities for work and visit others as tourists. This influx of people helps the economy grow faster than its regular rate. So if you are thinking of buying a property in Mumbai, you now have a detailed guide on it.
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