CHEMBUR: THE NEW PREFERRED ADDRESS IN MUMBAI
Chembur is a well settled and well managed Northeast area of Mumbai city. Two main highways (Mumbai- Nasik & Mumbai-Pune) are pass through Chembur. Chembur is serviced by the harbor line of Central Railways. Chembur started out as an industrial area, but now it is a large residential suburb.
Old bungalows and villas are now making way for high-rise apartments and lifestyle residential
complexes. Chembur acts as a link between Mumbai and Navi Mumbai and with the eastern freeway, connectivity has greatly advanced in the area, reducing the travel time to various parts of Mumbai.It is well connected to railway stations.
It is near to schools, banks and ATMs. Chembur is listed as the third residential destination in
Mumbai, to invest in, after Ulwe and Wadala. Chembur can be one of the prime, real estate
destinations in Mumbai, offering a residential zone and ample space for development. Chembur has a very impressive infrastructure - the monorail and the eastern freeway.
The Mumbai Development Plan of 1991 was instrumental in bringing about key infrastructure projects for decongesting the city center and promoting a transit-oriented development pattern. Consequently, the city’s eastern suburbs of Chembur, Powai, Kanjurmarg etc. have benefited immensely from these policy measures. Areas that had once been characterized by unorganised development and industrial zones, have undergone a noticeable transformation.
The development of Eastern Freeway has significantly impacted the growth of real estate over the past few years. Due to the reduced commuting time to South Mumbai, demand for commercial and residential properties went up, and housing prices in locations such as Chembur and Ghatkopar increased by approximately 28–30 per cent over the last two years.
• Well Connected to neighborhood like Thane and Navi Mumbai.
• Close proximity to Santacruz Chembur Link Road, Eastern Express Highway and Western Express Highway making commute easier for people who work almost anywhere.
• Connected with the major commercial zones viz :the central zone, western zone the island city zone and Navi Mumbai zone providing employment which in turn seeds the residential market in Chembur.
• Mass rapid connectivity is provided by the suburban rail network that connects it with the CBD
locations of Fort and Nariman Point through Mumbai CST.
• Domestic and international airports are a 15 minute drive from Chembur.
• It is the greenest and fastest growing new center of Mumbai and has witnessed large-scale developments in the residential sector over the last few years.
• Recently opened Freeway has connected Chembur to South Mumbai. One can reach South Mumbai in a span of fifteen minutes from Chembur.
• The social infrastructure is well developed with multiple malls, restaurants, golf course, hospitals, schools etc. In addition, prominent commercial zones of BKC and Lower Parel are located within a distance of 12 kms from Chembur, which is further attracting people to this part of Mumbai.
• Proximity to localities like Sion and Dadar are the major trigger factors for growth in this locality.
• As Infrastructure projects have provided a perfect platform for realty growth in the region,
Chembur is now seen as one of the most desirable residential locations in Mumbai.
• According to many investment advisory reports, Chembur in the Mumbai Metropolitan region has
emerged as the top three investment destinations in India, with forecasts price appreciation by 125%,
respectively in five years.
• With many reputed builders have their residential projects in Chembur and pricing ranging between
Rs.16800–17500/sq.ft. and an annualized appreciation to the tune of 15-18%, Chembur remains an
important investment hotspot.
Experts predict that the residential market in Chembur will boom, based on residential development
and the demand ratio. This is the best time to invest in Chembur. Being centrally located, the area
will see faster price appreciation than the other eastern suburbs.