Today, Mumbai is one of the costliest places to live in. With rising prices, a home here is no less than a lifetime’s investment for a common man. If you are one of those still looking for fruitful options to make this investment in real estate, then Mira Road has emerged as a popular destination to put an end to your search.
In recent years, Mira Road real estate has emerged as one of the most viable destinations for investment.It is evolving in several ways i.e. good infrastructure, better connectivity and more budget friendly homes, thus raising the bar of the real estate sector.
Several technically well-developed infrastructure projects have come up already, while others are queued for development viz. Redevelopment of water drainage systems, widening of other roads in the locality, implementation of new fire stations and more. A new sewage treatment plant has already been installed.
The main reason leveraging the demand for Mira Road property is its excellent connectivity to different parts of Mumbai, especially since it is a locality that extends from Mira-Bhayander all the way, up to Ghodbunder Road in Thane.
Getting to any other suburb of Mumbai is now possible, due to a highly developed network with many roads, highways, flyovers and transport services from here. Part of the existing BRTS (Bus Rapid Transit System), i.e. Mahim-Mira Road bus passageway is now functional. Many other bus services are available regularly for public transport. Mira Road is also accessible to the WEH (Western Express Highway) that connects it to various employment destinations like SEEPZ, Bandra-Kurla Complex (BKC) and Lower Parel. Connectivity to Navi Mumbai and Thane is provided via Ghodbunder Road.
Two primary roads connected with the locality are Station road and Mira – Bhayander Link Road. Besides, the road connectivity, Mira Road is also linked with western railway line of Mumbai. Plan for the four-lane Road that will connect Mira Road to Bhayander and Gorai is also already under way. A proposal for the metro rail from Dahisar to Mira Road has added to the increasing demand of Mira Road’s residential sector.
Mira Road is also a hub for quite a few entertainment malls, schools and colleges, nursing homes and health care centers, thus attracting the investors to live a more affluent lifestyle by residing in Mira Road real estate This includes, Niranjanlal Dalmia High School, Sardar Vallabhbahi Patel Vidyalaya, Bhakti Vedanta Hospital, Sidhivinayak Hospital and more. Vardhaman Fantasy on Mira-Bhayander road is one of the famous recreational hubs for residents of Mira-road.
Since 2014, the property rates in Mira Road have escalated between 20-25%, and are still expected to rise further due to the availability of reasonable properties and its growing market values.
Developments in terms of real estate in Mira Road and Bhayandar are in full swing. Prices in the adjacent Borivili and Kandivili areas are 35-50% higher than at Mira Road. With an improvement in infrastructure in and around Mira Road, prices here will definitely see a strong appreciation in the long run.
Out of the investment options in Mira Road, families who have bought homes in JP Infra’s ongoing project JP North have already received a high value appreciation after the price hike. For someone planning to invest in a property at pocket friendly rates, coupled with exceptional amenities, JP North is the perfect option.