One of the most significant advantages of investing in the suburbs of Mumbai is affordability. Properties in the city center, such as Colaba, Nariman Point, and Malabar Hill, are amongst the most expensive in the world. According to Knight Frank’s Wealth Report 2021, Mumbai ranks 20th globally in terms of prime residential prices.
In contrast, the suburbs of Mumbai offer a more affordable option for investors. The suburbs of Thane, Navi Mumbai, and Kalyan-Dombivali are currently witnessing a surge in demand for residential and commercial properties. According to a report by ANAROCK Property Consultants, the average property prices in the Mumbai suburbs range between INR 6,000 to 15,000 per square foot, while in the city center, the prices can go up to INR 75,000 per square foot. This affordability factor is making the suburbs of Mumbai an attractive investment option for both end-users and investors.