In Mumbai, the suburban region of Goregaon East is emerging as a favourite among home buyers, say reports.
There are many options before buyers, but the rising demand is also pushing up prices steadily.
Located between top residential areas of Andheri and Borivali, Goregaon East is well connected with the Western Highway and the Jogeshwari-Link Road (5.6 kilometres and 6.8 kilometres, respectively).
Residents have also easy access to the city’s international airport. Another attraction is the proposed Phase-II of the Mumbai Metro.
The growth potential has already attracted investors in commercial real estate. Top firms such as IBM, Abbott and Aegon Ligare Life Insurance have set up their offices in Goregaon East.
This attracts a large number of working population and thus, pushing the demand for apartments in Goregaon East.
In September 2015, the price in Goregaon East was Rs 15,280 per square foot but in the past 36 months it has gone up by 7.9 per cent. Now it has scaled up to Rs 16,594.
There are around 169 projects in the locality of which 112 are ready to move in and 45 are under construction.