Anything below Rs 80 lakh is affordable in Mumbai

Having per capita income of over Rs 1.2 lakh as per State Economic Survey of 2013, Mumbaikars actually consider properties below Rs 80 lakh as affordable. However, the options available in this budget range are countable and limited to areas beyond the Western Suburbs or towards North Mumbai.

Here is an insight of localities which have maximum number of properties below Rs 80 lakh:

Mira RoadMira Road is a popular locality, especially for those working in Malad or have businesses operating in areas close to Borivali. It is connected through the western railway line to South Mumbai. In fact, Magicbricks data shows Mira Road as one of the most preferred localities in the last six months, proving the popularity of the area.

Check out property prices in Mira Road

Kandivali EastDue to its proximity to Borivali, Kandivali has evolved as a locality with a decent lifestyle. A number of projects are coming up, spread over large area and offering new properties within Rs 80 lakh budget. However, most of the projects here are developed under the Slum Rehabilitation Scheme (SRS) which have limited amenities and are not well-received among buyers.

Check out property prices in Kandivali East

VirarThe area has always remained in demand because of the presence of job market in close proximity. Interestingly, the locality witnessed flip in its real estate when some big names entered the realty market offering quality construction at prices affordable to the middle class Mumbaikar. However, the distance kept away buyers who worked in the Island city but attracted those who were employed in the Andheri-Goregaon Belt.  Currently, the area has well-developed social infrastructure along with schools which have big playgrounds and extra amenities, as preferred by most parents.

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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.