Located to the North of Mumbai, Maharashtra; Mira Road is governed by the Mira Bhayandar Municipal Corporation (MBMC). The fast-developing Mira Road has lots in store for potential buyers. So, keep reading, to know why real estate investors are finding Mira Road to be a potential hub!
The most important reason for the growing popularity of Mira Road is that the properties are affordable to all. This is the reason most of the real estate developers are coming up with innumerable housing projects in and around Mira Road – Bhayandar stretch. Some of them include projects by Lodha Group as well as Delta Realty. There are several other real estate developers who are coming up with a mix of housing projects, which comprises of premium as well as affordable housing.
Mira Road is connected to various parts of Mumbai via the Western Express Highway. It is linked to Thane and Navi Mumbai via Ghodbunder Road. Chhatrapati Shivaji International Airport is at a distance of 24 kms, and is the nearest airport to Mira Road. It has easy accessibility to commercial hubs at Bandra Kurla Complex (BKC) and Lower Parel via Western Express Highway, thus making Mira Road a residential destination of Mumbai.
The Vardhman Fantasy Theme Park is within a radius of 1 km and is a favorite entertainment park for those staying in Mira Road- Bhayandar stretch. The park has reconstructed the Seven Wonders of the World and comprises of several rides, which makes Mira Road a tourist destination. The Sanjay Gandhi National Park is at a distance of 8 km from Mira Road East. Kanheri Caves is at a distance of 9 kms from Mira Road East.
Power supply and water supply is regular in the area. Electricity is supplied by Reliance Energy and Tata Power. However, some areas might face shortage of water for few days in a year. All basic amenities like banks, hospitals, supermarkets, schools, colleges, vegetable markets, etc. are in close vicinity.
The Mumbai Metro Line 7 corridor, which is under construction, has plans for 12 stations. The corridor will run between Dahisar East to Andheri East. In February 2017, MMRDA announced a proposed 9 km extension of Metro 7 from Dahisar to Bhayander via Mira Road. This will have a significant boost to the real estate markets.
Most of the developments in Mira Road have occurred in the Eastern side, whereas the Western side is covered with mangroves and salt pans. This makes the area less congested and free of pollution. Also, due to infrastructural development and growth, there are several companies and industries that are been set up in Mira Road – Bhayandar, thus enhancing job opportunities in the area.
Should You Invest In Mira Road?
Mira Road is the best place to invest for affordable housing. Areas such as Kandivali and Borivali are moving beyond affordability, so home buyers prefer Mira Road as the new constructions are inexpensive and they provide several amenities like swimming pool, gated communities, gym, etc.
Moreover, the rental yields in the area is high, so investors prefer buying a second home out here and then put it up on rent. You will be able to earn around Rs. 8,000-12,000 as rent for 1BHK flats in Mira Road. All in all, if you are looking for good connectivity, quality lifestyle, and affordable homes with several amenities then you should check out the upcoming real estate projects of builders of Mumbai in Mira Road.