Benefits of investing in low-cost properties in MMR

The most promising prediction by property analysts for the MMR region is the green uptick that they have assigned to this segment of India’s real estate sector. They are calling Mumbai’s Metropolitan Region (MMR) the Golden Apple because of the promising investment opportunity it offers. For those who are not well versed with the MMR region, it comprises nine Municipal Corporations of Greater Mumbai namely - Panvel, Kalyan-Dombivali, Badlapur, Bhiwandi, Palghar, Ulhasnagar, Thane, Navi Mumbai, Pen, Khopoli, Alibaug, Karjat, Mira Road-Bhayandar and  Matheran. 

The real estate sector of MMR is picking-up and displaying positive signs of forthcoming growth prospects. With its progressively growing real estate market, Mumbai has constantly been at the pinnacle of the demand in this sector’s growth curve. The developing real estate landscape and the preferences and choices of homebuyers too are making a noteworthy shift.

Homebuyers’ changing location preferences, choosing less chaotic areas with better quality of life over densely populated cities, need for affordable housing, promising returns and rising property prices in the main city are believed to be some of the main factors fuelling customers’ home-buying decisions. The result of this is the booming demand of real estate in the Mumbai city’ peripheral areas. The Kalyan-Dombivli region is one such neighbourhood witnessing fast growth and gaining popularity; Flats is Kalyan are being viewed as a lucrative investment. 

Here are the benefits of investing in low cost properties in the MMR 

Higher chances of having the home-loan approved

Low-cost properties such as flats in Kalyan and other MMR areas increase your chance of getting the home-loan as they are more affordably priced compared to other regions of Mumbai. Lower loan means a lower repayment responsibility and lower monthly installments. This puts less pressure on the home buyer while ensuring the same amenities and a better quality of life in a less chaotic area.  

Infrastructure and connectivity

The infrastructure development in the MMR has been robust, thereby playing a substantial role in improving the region’s connectivity, declaring it one of the preferred investment destinations for both commercial and residential real estate investment. 

For instance, flats in Kalyan are increasingly growing in demand as the region has strong developmental prospects lined up in the coming decade. Upcoming infrastructure growth such as Mankoli – Mothagao  and Airoli – Katai Bridge will drastically bring down travel time by half hour benefitting all the people residing in the areas. Even the Maharashtra government’s waterway transportation project, will improve the transit experience and ease traffic congestion for commuters. The proposed 16-lane Alibaug-Virar multimodal corridor which is 126 km-long will boost connectivity. 

Moreover, the freshly inaugurated railway lines connecting Thane and Diva and future developments like the Dombivli - Titwala ring road via Kalyan and Metro lines 5 and 12 will significantly make this region aspirational with limitless possibilities.

Affordable living solutions

Most of the regions in MMR such as Kalyan- Dombivli region provide affordable housing options to home buyers. The MMR region offers moderately priced and affordable homes that suit the budget of most prospective home buyers. The unaffordable rate in South Mumbai and rapidly rising rates in Mumbai suburbs are declaring this region the next big thing for affordable homes. The region has also witnessed an influx of people who want to move away from the crowd and hustle-bustle of the city and enjoy a better quality of life with amenities. 

Growth in commercial real estate

A lot of real estate developers are eyeing MMY; residential flats in Kalyan and other MMR regions are under rapid development because of the commercial growth that the area promises. By 2028, Kalyan is expected to become a huge corporate hub owing to major transport junctions within a five-kilometre radius. The strong industrial growth, rapid infrastructural development, industrial mushrooming and growing demand for commercial real estate will further augment the real estate investment in this region. 

To conclude, from an investment point of view MMR is a thriving area because of its improved connectivity and strategic location. Low-cost properties in the MMR will offer a better scope of appreciation, increased return on investment, higher chances of home-loans getting approved and lower EMIs making this investment not a financially strenuous one. The fact that it boasts of great existing and upcoming social infrastructure and has something that will fit everyone’s budget, it is a beneficial investment prospect.