If you’re thinking of investing in Mumbai, Kandivali West is a neighborhood you should definitely explore. It has emerged as one of the top micro-markets for residential real estate investment in recent years. Properties in Kandivali West are highly coveted and have continued to appreciate due to their excellent connectivity, abundant civic amenities, and promising career opportunities. But before investing any amount, it is important to know the area and market well.
Investors or end-users looking for insight into the direction of the property market in Mumbai can take the latest price movement in Kandivali West as a useful indicator. Here is a complete guide that will help you make a prudent decision. Whether you are looking for a villa or a 1 RK in Kandivali for sale, here is all the information you need:
Property Price Appreciation
The property prices in Kandawali West have increased by a range of 9.50% to 10.25% over a period of one year (Y.o.Y or year-over-year). This indicates that the real estate market in Kandawali West has witnessed significant growth and appreciation in property values over the past year.
Over the past decade, there has been a significant rise in property prices in Kandivali West. In 2009, homeowners were paying Rs. 7500 per square foot, whereas now, the cost has doubled to Rs. 15,000 per square foot.
The reasons for this increase in property prices are clear- the area has witnessed tremendous growth in terms of connectivity, business hubs, infrastructure, and lifestyle. In addition, renowned developers such as Godrej Properties and Mahindra Lifespaces have ongoing projects in the area, which are expected to provide significant returns in the future.
For Sale
In Kandivali West, 17% of the houses for sale are priced between Rs. 1.2 Cr and Rs. 1.4 Cr, while 14% are priced between Rs. 80 Lac and Rs. 1 Cr. Among the houses available for purchase, the most common room layout is 2 BHK, making up approximately 49% of all properties. The majority of the properties in Kandivali West are multistorey apartments. Currently, the average rate per square foot in Kandiwali is Rs 18,000.
Things to Know
The priciest residential property available in this area is a villa listed at Rs 1,20,000,000. Additionally, there are 1040 residential apartments with dozens of builder-floor units.
Kandivali West, Mumbai, offers a range of projects that cater to different segments, including affordable, premium, and mid-segment options. So, if you are on the lookout for 1 RK in Kandivali for sale, you can easily come across a well-developed property in this area.
For Rent
Here, 18% of the houses for rent are priced between Rs. 30,000 and Rs. 35,000, while 15% are between Rs. 25,000 and Rs. 30,000. Out of all the available properties for rent, 43% are 2 BHK layouts. And 63% of the rental properties in Kandivali West are multistorey apartments.
Residential Projects in Kandiwali
Just like other residential areas in Mumbai, Kandivali is also home to several fantastic housing projects launched by renowned builders and developers in the country. Some of the popular and highly sought-after projects in the area include:
· Ruparel Elara
· Ruparel Sky Greens
· Acme Avenue
· Siddha Seabrook
·Parinee Essence
Conclusion
Over time, Kandivali West has witnessed the rapid development of its social and physical infrastructure, leading to a surge in demand for residential homes in the area. Kandivali West has now established itself as a residential hub and a highly sought-after investment destination for homeowners and investors alike, thanks to its strong foundation and excellent connectivity. We hope that this information will help you know the real estate market of this area better and make a smart decision.