By Mr Harshvardhan Tibrewala, Director at Roha Realty.
Mumbai, the financial capital of India, has experienced significant real estate growth over the years. This growth can be attributed to rapid urbanisation, a growing economy, infrastructure development, affordable housing, government initiatives, and foreign investment. Despite being one of the most expensive cities in India, Mumbai offers affordable housing options in suburban areas such as Chembur.
Chembur, a suburban neighbourhood in the eastern part of Mumbai, has emerged as one of the city’s most sought-after residential hotspots. Over the years, Chembur has undergone a significant transformation, making it an ideal location for homebuyers and investors. According to a report by a leading real estate consultancy, the average property prices in Chembur have increased by around 15-20% in the past five years.
This blog will explore what makes Chembur one of Mumbai’s residential hotspots.
Chembur is a well-connected neighbourhood in Mumbai and offers easy access to some of the city’s most important business districts, including Bandra Kurla Complex (BKC), Lower Parel, Andheri, and Navi Mumbai. The Chhatrapati Shivaji International Airport is also just a 20-minute drive from Chembur, making it a convenient location for frequent travellers. Overall, Chembur’s excellent connectivity to these important business districts of Mumbai makes it a convenient location for businesses and professionals looking to establish a base in Mumbai.
Chembur has a vibrant social infrastructure with nearby shopping centres, restaurants, and entertainment options. Residents can enjoy dining at some of Mumbai’s best restaurants, including Cafe Mondegar, The Bombay Canteen, and Gondola. Shopping options include the K Star Mall, Cubic Mall, and Chembur Market, offering various shopping options to the residents.
The neighbourhood has several reputed schools and colleges, including the Institute of Chemical Technology, India’s premier engineering and research institute. Chembur also has several renowned hospitals and medical centres, providing residents with quality healthcare services.
Another key factor contributing to Chembur’s popularity is its affordability. Compared to other premium neighbourhoods in Mumbai, Chembur offers a range of residential properties at more affordable prices, including apartments, villas, and bungalows. This affordability factor has attracted many middle-class families to Chembur, making it a preferred destination for homebuyers.
Chembur is known for its greenery and open spaces, providing residents with a much-needed respite from the chaos of city life. The neighbourhood has several parks, including the Diamond Garden, Ambedkar Udyan, and Tansa Pipeline Garden, where residents can spend quality time with their families and friends. Chembur Gymkhana is a prestigious sports club in Mumbai with facilities for sports like swimming, tennis, and squash. The Bombay Presidency Golf Club is located near Chembur.
Real Estate Development
Chembur has witnessed significant development over the years, with several reputed builders and developers launching residential projects in the neighbourhood. Subhash Nagar and Tilak Nagar in Mumbai have several old societies that are being redeveloped, offering modern amenities and improved living conditions, making these prime locations more attractive for homebuyers and investors.
These projects offer world-class amenities, modern facilities, and premium finishes. Additionally, Chembur’s infrastructure and connectivity have played a crucial role in driving real estate development in the area.
Safety and Security
Chembur is considered a safe and secure neighbourhood with a low crime rate compared to other areas in Mumbai. The neighbourhood has several police stations and CCTV cameras, ensuring the safety and security of the residents.
Chembur has evolved from an industrial area to a premier real estate market
Chembur in Mumbai is a well-balanced neighbourhood that offers a perfect blend of social infrastructure, green spaces, open spaces, connectivity, and affordability. Chembur’s average rate per square foot has consistently increased over the past year, with the current average rate at Rs. 22,919 per square foot.
With its strategic location and excellent connectivity to different parts of Mumbai, Chembur has become the most sought-after destination in Mumbai and the central suburbs, offering its residents a comfortable and convenient lifestyle.
Chembur in Mumbai is developing at an astounding rate, both socially and culturally, as people from all walks of life congregate here. As a significant real estate centre and a commercial launchpad for many businesses, Chembur has emerged as one of the city’s most attractive investment sites. These factors have made Chembur an attractive destination for home buyers and investors, driving its growth and development in the future.