Right time to invest in the Goregaon Borivali growth corridor
Oct 08, 2013
Source : The Times of India


MUMBAI: For people looking for well-designed living spaces with beautiful landscapes, the glitziest malls and commercial outlets – all within a walking distance, Goregaon west is the ideal location. Off the western express highway, Goregaon west has emerged as an upscale commercial and residential destination in the western corridor of Mumbai.

Goregaon west has some unique advantages. The locality is in close proximity to the Jogeshwari-Vikhroli link road and a mere two kilometres away from the Goregaon railway station, one kilometre from the proposed Oshiwara railway station and five kilometres from the Malad railway station. Earlier, Goregaon was considered as a far-off and sparsely populated residential suburb with Aarey Milk Colony as its only popular landmark. Later on, catchments like Unnat Nagar, Jawahar Nagar, Motilal Nagar, Bangur Nagar, etc., developed in the west end of the city, making it a noticeable suburb. The area further expanded right after the housing boom three decades ago.

Today, Goregaon has almost hit a tipping point as many reputed builders, including Poddar Matushree Group, Ekta Group, Kalpataru, Mavji Estate Developers, etc., have their projects here. According to MagicBricks.com data, some new projects are in the offing in this area with 2, 3, 4 and 5-BHK apartments. These projects are priced between Rs 1.20-7.50 crores and are expected to be ready for possession by 2015-16. Apartments in these projects offer modern amenities like a clubhouse, a gymnasium, a swimming pool, a children’s play area and spa facilities.

Borivali west, located about 9.5 kms from Goregaon west, has become a prime location for residential property seekers as well as retail outlets and commercial establishments. Manoj Shinde from Mumbai Builders, a brokerage firm, says, “The property prices here are between Rs 8,000-14,000 per sq ft depending on the location and quality of the property. Due to the demand, prices have already gone up by 25-35 per cent over the 2011-12 levels.”

The Goregaon-Borivali west area is witnessing demand for housing mostly from the middle-class buyers. Factors motivating demand in this location are affordability, a serene environment and excellent connectivity, especially to Mumbai city and Thane.

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