Internationally, suburban locations are formed and defined on the basis of road-travel time from the inner city. The concept of a parent city that spawns satellite cities is very distinct, with such satellite cities located anywhere between 25-50 kilometres from the parent city. Typically, such satellite cities are self–sufficient in almost all respects pertaining to lifestyle and social amenities.
This cannot be said for Indian suburbs, which must be seen in close context with their parent cities. Rather, Indian suburbs tend to be the results of peripheral and are extensions of the parent city that grow homogenously. The growth story being told by Indian suburbs is more about the absorption of demand that spills over from saturated and therefore often infrastructurally challenged central locations that are paradoxically overpriced.
In Mumbai’s real estate scenario, the suburban landscape has its stars as well as bit players that are gearing up for centre stage.
BANDRA (W)
Among the stars, Bandra (W) has always been considered an excellent location thanks to its high-end properties, sea link connectivity, good shopping and lifestyle embellishments such as restaurants and recreation facilities. It also boasts of a rather select array of schools and colleges.
Rates: Rs. 15000-45000/sq.ft.
KANDIVALI AND BORIVALI
Kandivali and Borivali are increasingly favored because of their budget properties and the fact that they have conveniences like shopping malls, educational and healthcare facilities and good train connectivity.
Rates:
Kandivali (W) – Rs. 4000-6000/sq.ft.
Kandivali (E) – Rs. 5500-7000/sq.ft.
Borivali (W) – Rs. 4000–6500/sq.ft.
Borivali (E) – Rs. 4000-6000/sq.ft.
MULUND AND VIKHROLI
Mulund and Vikhroli are also budget locations that are relatively less congested than areas of Mumbai. They have the advantages of good road and rail connectivity to the hinterlands and also town-side, as well as a suitable bouquet of shopping malls and hospitals.
Rates:
Mulund – Rs. 4500-7500/sq.ft.
Vikhroli – Rs. 5500-7500/sq.ft.
THANE
Thane ranks high on general infrastructure, affordability in terms of properties by reputed developers, and the fact that it is its own workplace catchment on many levels.
Rates: Rs. 3000-6000/sq.ft.
NAVI MUMBAI
Navi Mumbai is a planned city with good infrastructure and its own distinct culture and lifestyle. Property rates are favourable, and there is a good range to choose from.
Rates:
Vashi – Rs. 3500-5500/sq.ft.
Kopar Khairne – Rs. 3000-3500/sq.ft.
Airoli – Rs. 2500-3500/sq.ft.
Sanpada – Rs. 3000-4000/sq.ft.
Nerul – Rs. 3000-4000/sq.ft.
Kharghar – Rs. 2500-4000/sq.ft.
Kalamboli – Rs. 2000-2400/sq.ft.
Panvel - 2000-3000/sq.ft.
Mumbai’s suburban growth potential does not end with the currently established locations. The area beyond Panvel is developing rapidly, with a hallmark being Reliance’s Maha Mumbai mini city project. There are also many other developers in the fray, and this area is eventually bound to emerge as a suburb in its own right. Kalyan and Dombivili are increasingly becoming connected to the rest of Mumbai and will figure high on the radar before too long. Bhayander, Nalasopara and the Vasai-Virar region are also ramping up to become extended suburbs of Mumbai.
Rates:
Dombivali – Rs. 2500-3200/sq.ft.
Kalyan – Rs. 2500–3200/sq.ft.
Bhayandar – Rs. 2200–2800/sq.ft.
Vasai – Rs. 1500 – 2500/sq.ft.
Virar – Rs. 1800-2400/sq.ft.
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