New realty investment hub: Mira Road

Mumbai, November 27, 2016: The fast developing western suburb of Mira Road has become one of the most sought-after property investment destinations attracting a fair share of the cosmopolitan crowd. Thanks for the cheaper brimming realty opportunities.

Situated towards the northern region of Mumbai, the locality is cited to be one of the fastest developing suburbs. Its seamless connectivity to Navi Mumbai and Thane has further fuelled its realty sector. End user market verse an investor market, while a number of new projects have mushroomed in Mira Road is becoming a potential investors’ hub due to its high rental yields. Working professionals from Borivali, Malad and Kandivali are considering moving to Mira Road due to its affordable rents while upcoming film-stars and television actors are finding accommodations in Mira Road due to its established infrastructure. . Due to its proximity to Mumbai and better connectivity to Thane and Bhayandar, there has been a significant growth of population in this area.

According to Mr Manoj Asrani, Vice President – Sales & Marketing, JP Infra Mumbai Pvt Ltd, 1–BHK apartments in Mira Road are expected to churn rental yields anywhere between INR 8,000 and INR 14,000 per month, thus making the vicinity a haven for many second time home buyers and local investors. “The foremost USP of Mira Road is the fact that it offers the best affordable prices while buying residential properties. Moreover, high rates of property don’t allow buying properties in Mira Road, but with new builders seeking wide options. A home is an investment. And, of course, economics and return on investment are important. But more important is the return to life. JP North is not just a landmark suburb project, it’s where Mira Road will redefine what Mumbai life should be,” he maintained.

Mira Road is the new hotspot in the real estate scenario of Mumbai. Located at about 2.5 km from Essel World and just-off the Western Express Highway, Mira Road has a railway station and also has several bus routes connecting the neighborhood to every nook and corner of Mumbai. With national parks, reputed hospitals, shopping plazas, Cinemax, high schools and colleges, Mira Road is pretty self sustained and forms a fine blend of urban living with a tinge of serene ambience. How popular and rapidly developing area it is can be ascertained by the fact that there are more than 100 major Mira Road projects excluding the medium to small projects offering thousands of apartments.

With the infrastructure development and growth, many industries and companies have been set-up there, thus boosting job opportunities in the area.

Corporate Comm India(CCI Newswire)