Looking for 2 BHK flats in Mumbai? If yes, there are various locations where you can find affordable as well as luxurious options. Due to rising property rates, majority of homebuyers are looking for small-sized units, especially 2BHK flats. In 2013, developers launched more than seven thousand residential units in the city, due to an increase in demand for properties. As the Mumbai realty market is quite expensive for the not-so-rich buyers, developers are offering flats in suburbs like Navi Mumbai and Thane at affordable rates.
Affordable Small-sized Units
Demand is extremely high for 1 and 2BHK flats in Kamothe and Panvel in Navi Mumbai. This city has turned into one of the most sought-after locations for property investment in Mumbai. From attractive real estate options to basic amenities and organized infrastructure, there are various factors due to which people prefer buying a flat in this area.
In the last few years, Panvel and Kamothe have witnessed a surge in demand for small housing units. Compared to properties in other suburbs, flats are available at a cheaper rate in Navi Mumbai. This factor has attracted many middle-income home-buyers to look for options suiting their budget in Panvel and Kamothe. If you want to buy a 2BHK apartment in Panvel or Kamothe, it will cost you anywhere between 80-85 lac rupees (750-1000 square feet area).
Property developers in Mumbai are also coming up with affordable 2BHK units in areas like Vashi which is close to the Mumbai-Pune Expressway. Kalamboli is another area in Navi Mumbai where you can find affordable yet stylish 2BHK flats. Various prominent builders are introducing new residential projects in this area, catering to the high demand for 2BHK units. For an 1100 square ft area 2BHK unit in Kalamboli, you will have to shell around 55-75 lac rupees.
Kalamboli, developed by CIDCO, is known for its iron and steel market in India. It is a fast developing region, offering all basic amenities such as hospitals, schools, markets and banks to property buyers.
According to experts, increase in demand and sale of smaller units is a win-win situation for buyers as well as developers. Builders don’t have to lose on their profit as they don’t need to reduce the existing market rates. The buyers also get to own a property that fits their budget.
Luxury Flats for the Super-Rich Buyers
Developers have come up with ultra-luxury projects for outrageously rich buyers around commercial hubs like Bandra-Kurla Complex, Worli and Lower Parel. Industrialists and big businessmen are ready to spend huge amounts for premium flats in such areas because it helps minimize commute time.
Flats in celebrated parts of the city such as Nepean Sea Road and Altamount Road are also quite expensive. Last year, Anil Ambani-led Reliance Group put some 100 flats on sale in the upscale NRI complex in Nerul, Navi Mumbai. Rates for 2-3BHK apartments at this complex ranged between 1.22 Crore to 2.50 Crore rupees.