Over the period of time, Andheri East has grown into a commercial office destination which was once an industrial hub in the 80s. Today, the region comprising Marol, Jogeshwari-Vikhroli Link Road and Chandivali belt is seeing a rise in demand in luxury residences.
Sectors like Media, Pharma, FMCG and SME are the key residential property drivers in the Andheri-Malad-Goregaon-Powai belt. Also the easy connectivity to the airport plays the major role. Not just the big companies but also some of the best educational institutes, five star hotels, libraries, parks, banks, hospitals and recreational avenues are easily accessible, making Andheri East, Chandivali and nearby area appealing for families seeking premium properties. Witnessing the increased demand in commercial properties further leading to need of residential flats / apartments, many developers have launched projects in Marol, Jogeshwari-Vikhroli Link Road and Chandivali area.
For years, South Mumbai was the hub for premium property in Mumbai, but this is fast changing. Due to the reduced commuting time to South Mumbai, demand for commercial and residential properties went up, and housing prices increased by approximately 28–30 per cent over the last two years. Infrastructure development has played a major role in the growth of Andheri East area. Due to Vikhroli–Jogeshwari Link Road, real estate activity especially in the commercial segment has accelerated in the markets of Powai, Vikhroli and Kanjurmarg. The 11km stretch of Phase I of the Mumbai Metro Rail, which connects Versova to Ghatkopar pass through one of the most important commercial and residential hubs of Mumbai. This has further enhanced the city’s east–west connectivity, and improved the real estate profile of locations like Marol, Ghatkopar, Vikhroli and Chandivali.
One of such leading project in Chandivali is Nahar Group’s Nahar’s Amrit Shakti, known to many as Mumbai’s only ‘green zone’. It is an integrated township spread across abounding lavish towers that offer a variety of living spaces to the residents. It caters to all the possible needs of the residents consisting of a clubhouse, supermarket, medical center, business center and Nahar International School. Keeping in lines with the largest green zone, Nahar’s Amrit Shakti has largest podium gardens.
All these factors have always worked in favour of Andheri East, and given great returns on investment to people who have purchased homes at the right time. The area is likely to continue to grow with many other infrastructure and high end residential projects coming up.