PNN
Mumbai (Maharashtra) [India], June 29: Kanjurmarg, situated in the eastern suburbs of Mumbai, is fast becoming one of the most sought-after residential destinations in the city. As per industry reports, the suburb has witnessed an excellent price appreciation of 8.57% Y-o-Y in the residential space, making it an attractive prospect for potential homebuyers.
Compared to Powai, its high priced neighbour, Kanjurmarg offers a more realistic price with similar advantages in terms of location and amenities. This has resulted in a growing number of homebuyers exploring Kanjurmarg as a viable option to find their dream home. With its reasonable pricing, quality housing projects and location advantage have led to a surge in demand for housing here. Property rates in Kanjurmarg have seen a rise of 8.78% in the last one year as compared to its higher priced neighbour, Powai which has seen a much lower price rise of 5.5% only, in the last one year. Being just a short distance away from Powai, Kanjurmarg offers a much higher return on investments.
Reasons for price appreciation in Kanjurmarg:
One of the main reasons for the price appreciation in Kanjurmarg is its strategic location. The suburb is well-connected to the rest of Mumbai with ongoing infrastructure projects such as Metro rail lines, road and rail connectivity. With the improved connectivity, demand for housing has soared, making it an attractive proposition for both investors and end-users alike.
The upcoming metro lines 4 & 6 will pass through the area, providing easy access to key locations in the Mumbai Metropolitan Region (MMR), such as Thane, Lokhandwala, South Mumbai, Kalyan-Dombivli, Airport, BKC and even the Navi Mumbai airport. Another advantage that favors Kanjurmarg as a location is its proximity to the JVLR and the Eastern Express Highway which improves the east-west and north-south connectivity significantly.
Kanjurmarg is also a beautiful suburb that offers residents a well-balanced work-life culture. The area is blessed with excellent educational institutes, healthcare facilities, shopping destinations, commercial districts and most importantly, natural serene surroundings. This has created a cosmopolitan and vibrant community that attracts individuals from all walks of life.
Kanjurmarg is home to an iconic and landmark project Runwal Forest, one of the most thoughtfully planned residential developments in the area. The project's close proximity to Powai coupled with excellent connectivity and upcoming metro routes, assures residents of good price appreciation. Runwal Forest provides residents with exceptional amenities for their indulgence and makes for a great urban living experience. Exercise in an open air gymnasium, take a dip in the swimming pool, join your kids on the skating rink, or enjoy a friendly match with neighbours on the cricket pitch. Runwal Forest takes care of all your recreation and wellness needs.
Runwal Forest has set the benchmark for premium living in Kanjurmarg. In keeping up to its name, Runwal Forest has not shied away from providing its residents with absolute greenery and large open spaces that compliments the area of Kanjurmarg.
This project has seen a marked 25% appreciation value of its property since the launch, two years ago. This has been due to the significant developments in the area as well as the property itself, emerging as one of the finest gated communities in the region.
According to a Knight Frank India report, Mumbai ranked 6th and recorded 5.5% appreciation on annual price growth of premium residential properties among 46 cities globally. This only reflects how quality housing developments can improve price appreciation for a good property.
Given its growing popularity, affordability, and potential for price appreciation, Kanjurmarg is indeed a destination which will see increased traction from those looking to invest or reside in Mumbai.
Runwal Group - The largest developer in Kanjurmarg
The Runwal Group is a prime example of a developer with a strong presence in Kanjurmarg, with approx.50 acres of land being developed into quality real estate assets. Apart from Runwal Forests - a 15 acre township in Kanjurmarg West, with over 1300 families already residing there, Runwal City Centre is a township project in Kanjurmarg East, designed on the Live, Learn, Work, Play theme. It offers a holistic living experience with beautifully landscaped residences, a proposed school, high-street retail, world-class office spaces, and a central park. These projects promote the 'Walk to Work' concept and cater to all the needs of residents.
Kanjurmarg is an ideal destination for those seeking a quality lifestyle while being in the heart of the city. With the upcoming infrastructure projects in the pipeline, we can expect to see further growth in the real estate market in Kanjurmarg.
(Disclaimer: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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