Mira Road is a part of Mumbai Metropolitan Region and it has a rapidly growing real estate market. The suburb is divided into east and west. There is a high demand for residential spaces in the east while the western side is full of mangroves and retains the natural beauty of the region. You can find very affordable 1 BHK or 2BHK flats in Mira Road easily because of the larger number of completed projects and ongoing residential projects in the area.
Let’s look at the trends in the residential as well as commercial property in Mira Road in some more detail:-
Good Connectivity and Affordable houses:-The residential projects have seen a boom in Mira road because of many factors. The location of this place has played a huge role in the entry of a large group of people for living spaces. Though the city is in the northwestern portion of the Salsette Island, Maharashtra, yet it is well connected via rail and road. The Western Express highway, Ghodbunder road and National Highway-4 are the key road links. This gives good connectivity to big cities like Thane, Navi Mumbai and Mumbai. The working professionals choose to live here as they can easily travel to employment hubs in Borivali, Malad, Kandivali and Andheri through trains. The majority of middle- class population resides here because of the affordable prices of flats and properties. The city is a favourite destination for those who want to be away from populated areas and regular bustling city culture. There is an increase in the flats for rent in Mira Road as well.
Development and Social Infrastructure: - Cheaper costs of land and continuous development have encouraged massive real estate investments. The city has seen substantial growth with good roads, well-laid townships, 24x7 power supply, shops and marketplaces. The other social infrastructures available are good educational institutions, hospitals and modern facilities and recreational zones like amusement parks, malls are also present. Distance from Mira Road to Chhatrapati Shivaji International Airport via Western Express highway is only 23 Km. These are the elements contributing to real estate demand in the area. There are many upcoming development projects which will, directly and indirectly, affect the real estate in Mira Road. Some of them are -rz and Navi Mumbai Airport.
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Residential projects in Mira road: - There are hundreds of new projects under construction in Mira Road. Some of the big projects coming up are Foresta, Imperial Heights, Gaurav Woods, Nemimath Heights and Lodha group. Many of these projects are supposed to be completed in the coming years from 2018 to 2023. This gives a good indication regarding the valuation of the Mira road properties in the future. As per the survey, the majority of flats for sale in Mira road are 1 BHK flats followed by 2 BHK flats.
Commercial Projects in Mira Road:-With the increase in residential areas and living apartments, the commercial property in Mira road has expanded. The city necessities like shops, showrooms, hotels, retail stores have increased due to population influx. The presence of many manufacturing industries and the IT companies has increased the demand for warehouses, garages and office spaces. There are many big commercial projects involving shops nearby residential spaces in Mira Road as well. One of the major commercial projects for sale is from the Asmita group. The Asmita Lords plaza is suitable for banks, back office, call centres etc. It is located opposite to Umrao hospital Asmita Enclave.
These are some of the residential and commercial property tends seen in Mira Road. If you are looking for the list of best properties in Mira Road, find the extensive database of verified and RERA registered properties at Magic Abode. Visit magicabode.com