Chembur: The Rise of Planned Architecture
Most residential areas in South Bombay and the Western Suburbs have become saturated, and thus many developers have shifted their attention to the outskirts of the city leading to an over supply in these areas. However, while significantly more economical, living in the outskirts subjects residents to longer commutes, and the sheer number of properties in these locations has resulted in significantly low rates of appreciation. As a result, established and visionary builders have started looking towards the centrally located parts of Mumbai, developing these areas to an extent that rivals anything that the likes of SoBo or Bandra have to offer.One such location is Chembur which has emerged as the primary choice for builders, given its prime, central location in Mumbai. Being located at the heart of the city, Chembur offers ample opportunities as a micro-market for premium housing and real estate.
Chembur is in close proximity to the following priority areas and budding projects:
- Commercial zones in Ghatkopar, Wadala, Powai and BKC
- The industrial and corporate hubs of Andheri East and Lower Parel
- The blossoming business and IT hub of Navi Mumbai
- The Navi Mumbai International Airport
- The Monorail Phase-II, Wadala to Jacob Circle
- The elevated road from BKC to Sion
Further contributing to these factors, is the emerging social infrastructure in Chembur, which already houses the following establishments:
- Lush green open spaces : Diamond Garden, Gandhi Maidan, Ambedkar Udyan, and Tilak Nagar Ground
- Popular malls, restaurants, hospitals and schools: the K Star Mall, the Art House at The Fern Residency, the Sushrut Hospital, and Our Lady Of Perpetual Succour High School
- A sweeping golf course: The Bombay Presidency Golf Club
- A sprawling lifestyle club: the Acres Club
- Chembur Gymkhana
Owing to this, Chembur is rapidly becoming the coveted residential destination for aspiring homeowners in Mumbai. A number of reputed builders have been vying for properties in the area for several years now, with many under-construction,as well as ready projects already populating the precinct.
By 2025, the real estate sector in India is expected to contribute 13% to the country’s GDP, with the market size soaring to US$1 trillion by 2030. The Indian IT and ITeS sectors have also recorded a steep demand for office space.In light of this, Chembur, given its strategic location along the Eastern Express Highway, has become the preferred choice for countless information technology companies.
Over the last decade, more than 14,000 buildings with lush modern amenities have been constructed in Chembur. The systematic infrastructural development undertaken in the area, coupled with the mounting demand for properties in the heart of the city, has led to a stable rise in Chembur’s property prices. This explosive growth in the economy has demanded an improved and efficient infrastructure, with an abundance of rejuvenating green spaces,which is exactlywhat Chembur offers.
Surpassing all sales expectations, the excellent connectivity, superior facilities, and precise, planned development, have driven the aggressive commercial and residential growth that Chembur is currently witnessing. This has played a monumental role in transforming it into an appealing and lucrative option for both end-users, and investors. With high-rises having tripled in this prime area over the past two decades, the future indicates a highly promising outlook for its real estate sector. As such, Chembur is well on its way to becoming the prime property hub of Mumbai with fine and exclusive properties serving as quality homes, as well as rewarding investment avenues.