Buying a home means you are also upgrading your wealth over time. Similarly, delaying a house purchase means you are adding tons of the amount to your future investment, which also comprises your paid rent over the duration. However, to avoid higher investment plans, people seek an affordable housing scheme. If you live in a metropolis like Mumbai and have been paying high rent for several years, delaying your house purchase will only leave you with the option of paying a higher investment amount. To avoid such scenarios, people explore affordable housing in Mumbai, which will also give them homeownership status.
If you also want to enjoy homeownership whilst reducing the amount of your property investment, scroll down below to check out some affordable houses in Mumbai.
Budget Homes Mumbai
Ask an ordinary Mumbaikar about their objectives in life and buying a house will top their list, and why not? After all, Mumbai is a city of dreams, a financial capital, and a city of aspirations. Enjoying home ownership in the most expensive property market in India is not short of an achievement. The approximate size of an affordable house in Mumbai is nearly 300 sq. ft. of carpet area.
But wait, what if we tell you that you can still enjoy home ownership in the most expensive real estate market in India? Well, already overcrowded Mumbai’s affordable housing sector is on the rise. Therefore, Mumbaikars are in search of suburbs with smooth connectivity along with reasonable property rates. Thus, below we have come up with some of the best flats for sale in Mumbai at locations that will suit your lifestyle and finances.
Affordable Housing Locations in Mumbai
- Borivali
Popular as a suburb of gardens, Borivali is amongst the most affordable areas to live in Mumbai. As a hub of new business headquarters, this location is all packed up with educational institutes and hospitals, and you can enjoy an easy commute via local train or an auto rickshaw.
- Kandivali
Kandivali is an emerging locality that is today’s preferred residential destination for people who are seeking independent houses in Mumbai. The area is in proximity to the airports and railway stations and has seamless connectivity to all the prime areas of Mumbai.
- Powai
It’s nestled by Powai Lake, a happening location with excellent road and rail connectivity in Mumbai. The region houses affordable residences, historic places, and business hubs and gets you close to several educational institutes, hospitals, and shopping centers.
- Vikhroli
Vikhroli, located in the heart of the Eastern Express Highway, is well connected to the west via the LBS route and has easy access to Jogeshwari and Bandra. Vikhroli offers some opulent 1 BHK apartments for just Rs. 55 lakhs to Rs. 60 lakhs, which is believed to get a 12% ROI soon as the location is connected to the starting point of the Mumbai metro, which will soon increase the property rates in Vikhroli.
- Airoli
It is one of the best residential and commercial regions of Mumbai with a variety of affordable property options for families and students. The area is well connected to Mumbai and serves all modern-day facilities for the residents.
- Kurla
Kurla, known as Mumbai’s heart, is a rapidly growing ideal residential location with affordable housing options. From rent to purchase, Kurla allures both the middle-class and upper-class segments.
In a nutshell, those mentioned above are some feasible locations with affordable houses in Mumbai. Apart from these, there are several other locations you can check out at IndexTap.
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