The population of Mumbai is on a rise and finding a house in south Bombay is becoming increasingly difficult. Suburbs of Mumbai are fulfilling the demand for a space to live in Mumbai. Many people are investing in real estate in the suburbs of Mumbai and one of the popular destinations where people are flocking to invest their money in is Goregaon. Goregaon is a suburb of Mumbai located towards the north of the city. There are many new residential projects in Goregaon coming up that are making it a haven for investors and first time home buyers. So what makes residential property in Goregaon the perfect candidate for investors to invest their money?
Goregaon is located between Andheri and Borivali which are the 2 most important locations in Mumbai. Goregaon is well connected by road to Mumbai via western express highway, S.V Road, and link road. People who live in Goregaon have easy access to the international airport of Mumbai. The upcoming metro is further going to make traveling easier to the destination. Goregaon is also a hub for trains coming from harbor line. This makes Goregaon very well connected to the city no other residential projects in Mumbai except few could offer you all these amenities.
2. Big companies.
Other than a thriving residential market the real estate in Goregaon is a hybrid. The presence of a huge MNC in Goregaon also gives it the appeal it has with investors. Companies such as IBM, Abbott, and AEGON Religare Life Insurance have set up their offices in Goregaon. The employees of these MNCs prefer to hunt their new house in Goregaon because it cuts the travel time drastically. The employees of these companies are driving the construction of new residential projects in Goregaon to fulfill their demands. The demand for residential property in Goregaon has increased a lot since Goregaon became home for these MNCs.
3. Return on investment.
A high rate of returns is the dream for any investors. Goregaon is still in adolescence when it comes to the real estate market. The demand for residential projects in Mumbai has grown but Goregaon has seen one of the biggest growths. Investing in a new residential project in Goregaon now would yield some of the best results for the investors. And investors have taken a notice of it which is further driving the demand up for flats in Goregaon. Investors have seen an 8% increase in the prices of the residential property in Goregaon this year. Despite the poor economy, the amount of growth Goregaon is showing is astonishing.
4. Goregaon has a booming real estate market.
Goregaon is getting attention because of its sound infrastructure and comparatively affordable property prices, encouraging developers to launch new apartments here. There are around 169 projects in the locality, of which 112 are ready to move in and 45 are under construction. One of the prime developers in the area is IM Buildcon. People looking to take advantage of the situation and get their money invested in new residential projects in Goregaon where they are guaranteed to see growth in their investments.
Goregaon is not just a jungle of buildings but also has many other features. There are parks and other social spaces that you could visit if you buy a residential property in Goregaon. Goregaon also has one of the most famous shopping malls in all of Mumbai that people visit frequently. Other than that Goregaon has plenty of reputed schools and hospitals. Having these amenities also have a major effect on the prices of the property.
When it’s all said and done it is easy to see why Goregaon has become a hotspot for investors to invest in.