Table of Content:
- Factors To Remember When You Buy A Home #1: Look In The Right Localities
- Factors To Remember When You Buy A Home #2: Builder Reputation Matters
- Factors To Remember When You Buy A Home #3: Make A Checklist
- Cheapest Area In Mumbai #1: Borivali
- Cheapest Area In Mumbai #2: Malad
- Cheapest Area In Mumbai #3: Ghatkopar
- Cheapest Area In Mumbai #4: Kurla
- Cheapest Area In Mumbai #5: Kandivali
What is it that comes to mind when you hear about buying your own house in Mumbai? The city of dreams? One that never sleeps? Or the one where anything is possible, except for finding an affordable home? Well, while all the thoughts you associate with Mumbai City are more or less true, the last one is completely misunderstood! Let us clarify this for you right in the beginning - buying your own spacious and luxurious home in Mumbai is indeed a complete possibility once you know in which cheapest area in Mumbai to invest.
Recent trends have brought to light the fact that most of the revenue that will be generated in the real estate market in the next 12 to 18 months will be from the affordable housing segment. What seems to be the center of attraction for buyers today are the small configurations of a cozy home in a decent locality. It is true that when people step out to buy an affordable home for themselves, the metro city is more than often not taken into account. Mumbai is not even a part of the list when it comes to affordable housing.
This is exactly the kind of mindset we want to change through this blog. Buyers usually don’t even know the cheapest area in Mumbai to buy their dream home, but not anymore! We will enlighten our readers with the several factors that they can keep in mind when they step out to hunt for their dream home. Moreover, we've compiled a list of the cheapest areas in Mumbai, as well as tips for buying a home there.
Factors To Remember When You Buy A Home In A Cheapest Area in Mumbai
Look In The Right Localities
This is one thing that matters the most. You need to do some research and make a list of cheap places to stay in Mumbai. You should look for neighborhoods that are not only affordable but also have good connectivity to transportation in the main city.
Builder Reputation Matters
Naturally, you would assume that since you are looking at affordable housing in the cheapest area of Mumbai, your chances of finding a builder who is reputed and renowned are slim to none. However, this is not the case anymore. After a push from the Central Government to start paying more attention to affordable housing, builders are now offering their services to buyers who are interested in this segment.
Also Read: Advantages Of Buying Mumbai Property
Make A Checklist
When looking for the cheapest area in Mumbai to live in, you'll want to make sure you're not missing out on any amenities. To avoid this, make a checklist of all your requirements beforehand. Be sure which utilities are a must for you and which ones you will be okay missing out on.
Moreover, when you find a house in the cheapest area of Mumbai that checks all the points on your list, you need to make sure that all the information is correct and original. When it comes to looking at all the paperwork and legal documents, the price of the home does not matter. All homebuyers need to verify and make sure that there is complete transparency.
Also Read: Apartments To Live In Mumbai
Affordable & Cheapest Areas In Mumbai To Invest
1. Borivali
The "suburb of gardens" is one of the best affordable places in Mumbai. It usually takes 45 minutes by train to reach CST, so investing in this cheapest area of Mumbai makes perfect sense if you are working there. Also, Borivali is said to be the new-age social and business hub.
Borivali offers some of the best-esteemed education institutions like Orchids The International School, Don Bosco High School, and St. Francis Institute of Technology.
For hospitals, Borivali has Apex Hospital, Lotus Multispeciality Hospital, Shree Ganesh Hospital, Mandapeshwar Nursing Home, etc.
To have a seamless travel experience, Borivali has Borivali Railway Station, taxis, buses, and auto rickshaws.
Also Read: Check Properties in Borivali
2. Malad
Another cheapest place to live in Mumbai is Malad. It has got it all, from lip-smacking food to top-class hotels. Malad has a lot of MNCs, which is one contributing factor to why the demand for middle-class Mumbai houses has increased.
Malad connects major areas like SV Road, Link Road, and the NH-8 Ferry. If you stay here, you can avail of the Gorai, Manori, and Versova ferry services.
There are educational institutions like Billabong High International School. Orchids The International School, Ryan International School, Nagindas Khandwala College of Commerce Arts & Management Studies, etc.
For entertainment, you can visit Infiniti Mall, Inorbit Mall, Timezone, and Somwari Bazar, every Monday near Zakaria Road.
3. Ghatkopar
Not only will you find affordable housing in Mumbai housing units, but you will also find some of the best commercial and reputed educational institutions. Multi-story apartments dominate this cheapest area in Mumbai. Ghatkopar Metro Station enables seamless connectivity to the rest of Mumbai.
Ramabai Thackrey Hospital, Samartha Maternity, Ruby Eyecare, Aadhar Orthodic Hospital, and Sharan Hospital are some of the well-known hospitals in Ghatkopar.
You will find famous educational institutions like The Universal School, PG Garodia School, Vidyaniketan Commerce & Science College, etc.
You can visit Kidzania, LBS Joggers Park, or R City Mall for entertainment purposes.
Also Read: Check Properties in Ghatkopar
4. Kurla
Another cheapest area in Mumbai is Kurla, which is also developing fast. Plenty of worship places like Sai Baba Temple, Darul Uloom Mehboo-e-Subhani, and Holy Cross Church are situated in or around Kurla. It has mixed citizens, from slums to upper-class segments. For social amenities, you will find the below-mentioned services:
Fauziya Hospital, City Hospital & Research Centre, and Amar Hospital are some of the best-known hospitals.
One can also explore Still Water Aquatics and the Nature Aquarium Gallery for entertainment. These will have nominal costs since they are situated in the cheapest area of Mumbai.
For parks, one can visit Sahajeevan Park, Match Factory Garden, etc.
5. Kandivali
Formerly known as Khandole, despite being the cheapest area in Mumbai, it is now emerging at full speed. Kandivali is located 14km from international and domestic airports and offers easy access to all the other areas of Mumbai. From medical facilities for the elderly to local shops for homemakers, Kandivali offers every facility. Even the Goregaon-Mulund Link Road passes via Kandivali, connecting the western suburbs to the central.
Some famous hospitals include Shatabdi Hospital, Sukhsagar Hitech Hospital, Paarth Hospital, etc.
Some well-reputed educational institutions are Kapol Vidyanidhi International School, St. Joseph’s High School, Akshara High School, etc.
For entertainment, one can visit Evershine Dream Park, Growell’s 101, Central Mall, etc.
Also Read: Buying Affordable Homes In Mumbai
Conclusion
It cannot be easy to find affordable housing in Mumbai, but it is possible! The list mentioned above includes some of the cheapest areas in Mumbai where you can start your new life. These areas are affordable and offer a variety of road connectivity, health, educational institutions, and social and retail infrastructures.