The City of Dreams Mumbai is considered one of the most expensive cities to buy real estate property. But there are affordable localities to buy residential properties in Mumbai with excellent connectivity and convenient social infrastructure.
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Top Affordable Localities To Buy Residential Properties in Mumbai
Here are the top most affordable housing neighbourhoods in Mumbai, with property costs starting at an average of Rs 16,000 per square foot.
Malad
In the northern region of Mumbai, Malad is one of the affordable localities to buy a house in the western suburbs.
Malad is host to numerous MNCs and a sizable population of white-collar workers. Due to the variety of residents from all across India living there, the area has a rich culture.
The Arabian Sea shore is where Malad is located. Kandivali is to the north, Goregaon is to the south, and the coastal woods are to the east.
Malad is one of the cheap and affordable localities to buy a residential property in Mumbai.
Social Infrastructures In Malad
Education Institution: Ryan Internation School, Orchid International School
Healthcare Facilities: Namaha Hospital, Balajee Hospital, Raksha Multispeciality hospital.
Mall/ Entertainment Centres: Infinity Mall, Inorbit mall
Connectivity Options In Malad
Malad has excellent access to other areas of Mumbai via NH-8, S.V. Road, and Link Road. An essential route in Malad is the Marve Road (West). It begins from S.V. Road, crosses Link Road, and comes to a finish at Madh Island Lands Endpoint.
Versova, Manori, and Gorai can all be reached from Malad via ferries. Both the eastern and western regions of Malad have bus depots.
The international airport is 20km away from Malad.
Property Rates In Malad
|
For Sale Avg Rates Per Sq Ft |
For Rent(for 1BHK) |
| Rs 17,500 |
Rs 20,000-25,000 |
Note:
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Borivali
Borivali has been a key area for the development of real estate due to its proximity and affordability. The area is well-known locally for its commercial and urbanisation.
Residents of Borivali can live a comfortable and peaceful life because of the multitude of social amenities available to them.
Borivali is a sought-after place to live and work due to the quick increase in property values and the presence of a rising number of business centres making the area one of the thriving and affordable localities to buy residential property in Mumbai.
Social Infrastructures In Borivali
Education Institution: St. Anne High School, Gokhale High School, Don Bosco Jr. College.
Healthcare Facilities: Purohit Hospital, Phoenix Hospital, Lokmanya Tilak General Hospital
Mall/ Entertainment Centres: Indraprastha Shopping Center, Zone Mall, Mandapeshwar Caves
Connectivity Options In Borivali
Borivali provides strong connectivity of roads and railroads to Mumbai’s various developed areas.
The central railway station, which is 35 km distant, is the closest train station. Apart from that, Borivali East is located roughly 18 kilometres from Chhatrapati Shivaji International Airport.
Property Rates In Borivali
|
For Sale Avg Rates Per Sq Ft |
For Rent (for 1BHK) |
| Rs 20,000 |
Rs 19,000-22,000 |
Kandivali
One of the top micro markets for investing in residential real estate is Kandivali and it is also one of the affordable localities to buy residential properties in Mumbai.
The residential sector in Kandivali is highly sought-after and continues to appreciate because it offers good connectivity, a large range of civic amenities, and career prospects.
Social Infrastructures In Kandivali
Education Institution: Pioneer Public School, St. Joseph High School, Kandivali Education Society’s BK Shroff College Of Arts and Commerce
Healthcare Facilities: Namaha Hospital, EISI Hospital, Vighnaharta Multispeciality Hospital
Mall/ Entertainment Centres: Eastern Plaza, Infinity Mall
Connectivity Options In Kandivali
The Western Expressway provides excellent access between Kandivali and the remainder of the city.
Kandivali is only a 30 min drive from the airport, and the Borivali train station is nearby.
The connection of the area is further improved by the Borivali Flyovers, Mulund-Goregaon Link Road, Malad-Andheri Link Road, Link Road and S V Road.
Excellent bus service is also available from Kandivali to all regions of the city.
Property Rates In Kandivali
|
For Sale Avg Rates Per Sq Ft |
For Rent(for 1BHK) |
| Rs 18,000 |
Rs 15,500-20,000 |
Airoli
A bustling residential and commercial hub for Maharashtra, Airoli is a Navi Mumbai neighbourhood. And one of the most affordable localities to buy residential property in Mumbai.
The suburbs of Airoli is regarded as a gateway to Navi Mumbai. There are 28 divisions and two primary residential areas in the city of Airoli. Up until 1998, it was a neighbourhood on the Thane-Belapur Road, but in 1999, the Airoli-Mulund bridge was built, changing its status.
The organisation that built and keeps up Airoli is called CIDCO. Currently, the NMMC is in charge of managing Airoli.
Social Infrastructures In Airoli
Education Institution: Shree Ram Vidyalay and Jr. College, New Horizon Public School, Datta Meghe College of Engineering.
Healthcare Facilities: New Bombay Hospital, MCH Hospital, Indravati Hospital
Mall/ Entertainment Centres: Viviana Mall, Korum Mall
Connectivity Options In Airoli
Popular Mumbai neighbourhoods include Chembur, Bhandup, Mulund, Borivali, Sion, Vashi, Thane, Bhayandar, Panvel, and Powai.
To the north of Airoli, the Thane-Belapur Road links a number of Navi Mumbai neighbourhoods. Access to numerous Navi Mumbai localities from Airoli is unfettered thanks to the Eastern Highway.
Property Rates In Airoli
|
For Sale Avg Rates Per Sq Ft |
For Rent(for 1BHK) |
| Rs 13,900 |
Rs 16,000- 25,000 |
Powai
Powai a prosperous area of Mumbai is bounded to the northeast by LBS Marg (the former Mumbai-Agra Road), and to the north by Sanjay Gandhi National Park.
Many of the leading company’s offices are located in Powai. It is home to the IIT (Indian Institute of Technology).
The residential demand is growing in this area due to its accessibility and connectivity. Powai is considered one of the affordable localities to buy residential property in Mumbai.
Social Infrastructures In Powai
Education Institution: Hiranandani Foundation School, S M Shetty School, Pace Junior Science College Powai
Healthcare Facilities: Paramount General Hospital, Dhanvantari Hospital
Mall/ Entertainment Centres: Galleria Mall, R City Mall
Connectivity Options In Powai
Major parts of Mumbai are connected by the Jogeshwari-Vikhroli Link Road (JVLR), which passes through Powai.
The rail station of Kanjurmarg is the closest station providing excellent connectivity.
The Chhatrapati Shivaji International Airport is 5 kilometres away from Powai
Additionally, it is close to the communities of Kurla, Ghatkopar, Mulund, and Chembur.
Property Rates In Powai
|
For Sale Avg Rates Per Sq Ft |
For Rent(for 1BHK) |
| Rs. 25,000 |
Rs 25,000-30,000 |
Ghatkopar
A significant residential area in eastern Mumbai is Ghatkopar which is divided into two parts East and West. There are numerous luxury and midrange housing developments nearby. Due to its prime location, Ghatkopar has always seen great demand for real estate. It is one of the affordable localities to buy residential property.
Social Infrastructures in Ghatkopar
Education Institution: Garodia International Centre for Learning Mumbai, The Somaiya School, Don Bosco College
Healthcare Facilities: Sarvodaya Hospital, Parakh Hospital, Nulife Hospital
Mall/ Entertainment Centres: Phoenix Marketcity, R City Mall
Connectivity Options In Ghatkopar
It is easy to travel to work because due to Ghatkopar metro station’s connections with the remainder of Mumbai.
The Central railway line includes the Ghatkopar railway station. The Mumbai Metro project has started the Versova-Andheri-Ghatkopar metro line, which will have a twin line with a map that will use the regular trains and include 12 high stations.
Property Rates In Ghatkopar
|
For Sale Avg Rates Per Sq Ft |
For Rent(for 1BHK) |
| Rs 20,000 |
Rs 17,500- 22,000 |
Thane
Any type of home-seeker can find a home in Thane that meets their needs by choosing from a variety of houses across segments and price ranges.
Thane’s infrastructure expanded in step with the needs of a growing metropolis as it transformed into a vibrant real estate destination.
In addition to real estate alternatives overlooking lush flora and aquatic bodies, this culturally rich city also offers a healthy and safe atmosphere, achieving the ideal balance between nature and development.
Thane’s property rates are growing day by day with rising demand for the residential sector.
Thane is one of the most thriving and affordable localities to buy residential property in Mumbai.
Social Infrastructures In Thane
Education Institution: New Horizon Scholars School, St. Joseph High School, DAV school
Healthcare Facilities: Jupiter Hospital, Swayam Hospital, Vedant Multispeciality Hospital
Mall/ Entertainment Centres: Viviana Mall, R-Mall Thane, Lake City Mall
Connectivity Options in Thane
Every 5 minutes, the Mumbai Suburban Railway runs a train between Thane and CST. Also, Metro line 5 connectivity via Thane will boost the travel time for residents.
It is simple to go around the city as Thane is well-linked to Navi Mumbai, the eastern & western suburbs of Mumbai, NH-8, the Mumbai-Nashik Highway, & Thane-Belapur Road.
Property Rates In Thane
|
For Sale Avg Rates Per Sq Ft |
For Rent(for 1BHK) |
| Rs 13,650 |
Rs 13,000- 17,000 |
Finding your dream home in Mumbai’s affordable localities is not just a quest; it’s a journey towards realizing your aspirations.
At Homebazaar.com, we understand the importance of making this journey accessible and seamless. Our commitment is to empower homebuyers to discover the perfect property in budget-friendly neighbourhoods across Mumbai.
With Homebazaar.com, your search becomes a personalized experience, guiding you to the right home in the right locality – because everyone deserves a place to call their own, and we’re here to make that dream a reality.
FAQs
| Which area is the cheapest to buy a house in Mumbai?
Ghatkopar, Thane, Kandivali, Airoli, and Malad are the cheapest to buy a house in Mumbai. |
| Which is the best location to invest in Mumbai?
The best locations to invest in Mumbai are Thane, Andheri, Wadala, Panvel and Khar. |
| Which is the safest area in Mumbai?
Parel, and then Thane are considered as Safest areas to live in Mumbai. |
| Which part of Mumbai is most developed?
Malabar Hill, with the majority of its people being billionaires and millionaires, is not just Mumbai’s most upscale neighbourhood but also India’s most prestigious residential address. |
