Mumbai: Where to look for new flats at Rs 70 lakh

Often termed as ‘lungs’ of Mumbai, Borivali is one of the suburbs beyond the Western Suburbs which is undergoing re-development. This has given way to tall buildings of upto 15 floors, giving beautiful view of the Sanjay Gandhi National Park to some of the ‘lucky’ residents. Magicbricks informs you what else can be explored.

Two years back, the state government relaxed the Development Control Rules (DCR) for the Western Suburbs by providing extra FSI (Floor Space Index). This move brought some of the leading developers for re-development to the area, which was otherwise packed with mid-rise structures.

“The policy change actually changed the phase of real estate here. New supply that came in was a good opportunity for first time home buyers,” says Ramprasad Padhi, owner, Mumbai Properties.

This new stock also evolved the quality of life here as it has brought young buyers to the area. “With rising disposable incomes of working couples, several shopping malls and multiplexes have also come up which has changed the look and feel of the area,” says Vishesh Mehrotra, owner, City Home Solutions. Present scenario.

As per the Magicbricks data, properties in Borivali West cost Rs 45 lakh for a 1BHK unit which can go up to Rs 8 crore for a 3500 sq ft, 4BHK unit. The eastern counterpart of the locality has a number of units offering a green view of the Sanjay Gandhi National Park but is priced in a budget range of Rs 1-3 crore for a large, 2BHK unit of 1000-1200 sq ft.

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 About Us

MCHI-THANE has always been very clear that fine housing complexes and shopping malls cannot stand in isolation. A great City is the sum total of great buildings, great infrastructure and great people. MCHI has been committed to growth of the real estate sector and is credited with the harmonious growth and rise in quality and standards of construction in Thane City in the past decade.

Its aim as an Association of Developers has been to seek rational rules and regulations which are uniformly applied across the board as this will to a great extent result in speedy construction, cost reduction, fair pricing and a push for better quality standards at par with the developed world, with a high level of transparency.