The posh localities of Mumbai are going through a freezing phase, where the properties rates are soaring and there are no takers. Average cost for a new apartment in South Mumbai has gone to no less than 7-8 crores and the inventory pile-up caused because of this has worried the builders a lot. The experts suggests that it would take more than 8 years for the piled up inventory to get sold. Considering this alarming situation and understanding the buyers’ sentiments, the builders are now heading towards fringes of Mumbai. The suburban localities of the city have been through a phase of impressive infrastructural developments and the availability of land aiding in developing the city peripheries have fetched a big chunk of prospective homebuyers. |
One such suburb of Mumbai is Asangaon, Mumbai Beyond Thane. This suburb is offering properties in the affordable range of Rs. 20-30 lakh. Asangaon is going through a phase of infrastructure development.
Asangaon falls under the jurisdiction of Thane district and is around 70 km from Mumbai through the expressway. Mumbai-Pune Western Express Highway has also ensured great connectivity with other parts of Mumbai.
The locality is witnessing onset of over 20 new projects, and most of them are available in 1 and 2 BHK configurations. These projects are under at various stages of construction. The realty segment of Asangaon is mainly an investor-driven market, and has attracted buyers who look forward to make investments in second or third properties.
Prakhhyat Yellow Tree
Prakhhyat Yellow Tree is the new residential project by Prakhhyat Infra Projects Private Limited. Located in Asangaon, Mumbai Beyond Thane, Yellow Tree is spread across 16 acres of land and offers 1200 well-crafted homes. Yellow Tree brings in homes in the configurations of 1 and 2 BHK. These properties have an area range of 468 - 886 sq. ft., and are priced between Rs. 12.18 lakh - 22.14 lakh. The project will be ready for possession by May 2015.
Royale Urbanspace LLP launches Royale City, which a promising and affordable residential development in Asangaon, Mumbai Beyond Thane. Royale City is a big residential project spread across 65 acres and offers a total of 4000 units. Phase I of the project is spread across 10 acres of land and offers well-designed 1 RK, 1 BHK and 2 BHK apartments. 1 RK apartments have an area range of 410-525 Sq. Ft. and are available in a price bracket of Rs. 11,98,090-Rs. 15,25,725, while the 1 BHK flats have a total area of 555-625 Sq. Ft. and are priced Rs. 16,26,195-Rs. 18,28,625. The 2 BHK are bigger at 876-1024 Sq. Ft. which cost Rs. 25,55,724-Rs. 30,28,658.
Shveta Jain, Director – Residential Services, Cushman & Wakefield informs that Mumbai Beyond Thane has underwent a phenomenal growth. Areas like Asangaon have seen a number of new launches recently.
Some commercial office spaces are also planned in the locality, boosting the growth prospects in and around Asangaon. It is expected that this location will grow in the coming years and will be a preferred destination for both investors and end-users.
Rashmi Karan is a professional writer who shares articles and blogs about the realty industry of India and focuses on offering location-specific information of the cities. She also offer solutions for the real estate related queries.
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