May 23, 2014

About Locality & Projects of Andheri, Mumbai

The most populous suburb of Mumbai, ‘Andheri’, located in the western suburbs is a real estate up-market, where realty business has grown by leaps bounds in a short span of time. The contributing factors to the pinnacle growth of real estate sector comprehensively include appreciable infrastructural development, excellent transportation facilities, massive commercial development, to name a few. Separated by the western railway line like many other suburbs and regions of the city, Andheri is divided into two parts – Andheri East and Andheri West.

Projects of Andheri, Mumbai

Andheri East has a mix of commercial and residential areas. And, Andheri West is largely a residential area. If, one is mulling to buy property in the eastern part of Andheri, it will be advantageous from the transportation perspective too. Andheri East falls in the central part of Mumbai and therefore, commuting anywhere in the city is easy through road transportation as well as through the rail link. Chhatrapati Shivaji International Airport situated in Andheri East adds to the connectivity and is also an advantage of this location.

Whether, it is the western part or the eastern part of Andheri; both of them have excellent property value according to the specific requirement of buyer. It is believed that, as soon as the Mumbai Metro becomes operational between Versova (Andheri West) and Ghatkopar (West); demand of residential and commercial property will be escalating. Work on metro rail project has already been started here.

Connectivity of the Locality

Andheri is strategically located close to Western Express Highway (NH-8), which connects it with all major places through link roads. In the north of Andheri, Western Express Highway connects the important places like Malad, Kandivali, Borivali, etc. The highway connects Bandra, BKC, and Santa Cruz in the southern part. On the western side of Andheri, the highway makes major places like Chandivali Ghatkopar, Vikroli, etc. easily accessible through link roads.

Through JVLR link road connected to the highway, people get accessibility from Jogeshwari East to Vikroli West. Apart from it, the ‘Chhatrapati Shivaji International Airport’ is situated in Andheri East with 4 Km distance from Andheri West. Moreover, the well-known industrial area – Marol is just on 5-10 minutes distance from the Andheri East Station, which is only 2.5 Km  .

Property availability chart of Andheri, Mumbai:

Availability of Residential Units as per Unit Type

                               
Figure 1: Property availability as per unit type

Supply of 2 BHK apartments in Andheri is 48% of the total supply. Whereas, there is 23% supply of 1 BHK apartments, 3 BHK is are 21% and supply of more than 3 BHK apartments is 8%.

Availability of Residential Units as per area:


Figure 2: Property availability as per area

Apartments covering less than 1000 square feet area have 47% property availability and 1000-1500  square feet have 38% property availability in Andheri. While, there is 9% property availability of apartments that cover 1500-2000 square feet. Flats spread over more than 2000 square feet have lesser availability that includes 6% only.

Availability of Residential Units as per budget

 
                                          Figure 3: Property availability as per budget

Above graph gives the authentic information regarding property availability according to the budget of home buyers. Availability of properties ranging between from Rs.20 to 50 lac lakh is 4%. Apartments between the ranges of Rs. 50 lac to 100 lakhc have 16% units. Whereas, there are 1% flats that range from Rs. 10 to 20 lakhc. In addition, flats less than Rs. 10 lalkc have only 3% availability.

Price Trend in Andheri:



2011 (Price range)
Locality
Min
Max
Avg
Q-Q change
Andheri
9000
12000
10500
5%

                         
                                                 Figure 4 Price Trend in Andheri

Fig 4: As compared to the year 2009, Andheri has witnessed a continuous appreciation in property prices in 2010 and 2011. Average residential property price in 2009 was about Rs. 8500 per square feetSq.ft., which increased to Rs. 9500 per square feetSq.ft. in 2010 and Rs. 10500 square feet Sq.ft in 2011 respectively. The tremendous down in property prices over the past two years is 5 percent.  

Major Builders & Projects



Builders
Projects
Size of Project
Ackruti City
Ackruti Sunstone
2 BHK, 3 BHK
Sheth Developers Pvt. Ltd.
Vasant Oasis
2 BHK, 3 BHK
RNA Corporation
Jolly Bhavan
3 BHK
Man Group
Man Dune
3 BHK, 4 BHK


Major Commercial /Industrial Establishments




Builders
Projects
Status
Sunteck Realty Ltd.
Sunteck Grandeur
Completed
Parinee Realty Pvt. Ltd.
Parinee 1
Completed

RNEAndheri- Real Estate Profiling – Neighbourhood Info



Category
Names
Restaurant
Andyand Fast Food, Appit Ice Cream, Apsara Ice Cream Centre, Armo Distributor, Bon Chocolate, Chi Juice Centre, Classique Natural Ice Cream, Dark Temptations, Delhi 6 Fast Food, Desiree, Dew Drops, Gajalee Coastal Food, Hometown Café, Natural Ice Cream Parlour, Nickys Ice Cream, Nini Da Dhaba, Pizza Access, Rameo Ice-cream, Sardarji Dhaba, Sai Kripa Ice-cream Parlour, Shree Samarth Parlour, Snacks Juice,  Sugandha Fast Food, Tasty Fast Food
Theater
Cinemax, Fame Adlabs, Fun Republic Cinemas, Navrang
Schools
Cute Kiox, Test Sabitha, The Tree House, Podar Jumbo Kids, Divine Child
College
College of Management Education, Bhartiya Vidya Bhavans Sardar Patel College of Engineering
Supermarket
6 Ten Supermarket, Aap Ki Khatir Super Market, Benzer Super Market, Om Supermarket, Paresh Supermarket, Trinity Supermarket, V.K.S. Super Market
Malls
Albela Shopping Pvt. Ltd., Almella Shopping Pvt. Ltd., Catex Overseas, Dantara
Hospital
Shailaja Eye Hospital, Roshni Eye Hospital


Return on investment at Andheri (ROI)

                    
                               Figure 5 Return on investment at Andheri (ROI)

The above chart depicts the approximate Rreturn on the investment in Real Estate in Andheri Real Estate for the past 8 quarters. At an average for every INR 10 lakhs invested in a property at Andheri will would give you a return of INR 11.76 lakhs in 2010 and a return of INR 12.35 lakhs in 2011.

Disclaimer

Suelkha.com cannot be held responsible for the accuracy of data displayed on the site. The information has been compiled from the asking price of the database of properties listed on the site for the period. Since the data is not of the actual transaction, Sulekha.com does not give any guarantees and it should be verified independently.

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