Have you heard of Kharghar? Where is it you ask? Well if you are interested in buying flats in Mumbai, Kharghar may be the most important place you’ve ever heard of. Sure it’s not Bandra or Juhu, but Kharghar does have a charm of its own with affordable housing in Mumbai for those who don’t want to or don’t have several crores to spend on a new home.
Kharghar is well connected to Mumbai being only an hour’s drive from downtown Mumbai. Property rates for apartments in Kharghar are close to 8,000 rupees per square foot having appreciated by close to 16 percent over the past 3 years. As in many parts of Mumbai, the size of the properties at Kharghar is small, if you are looking for 2 BHK flats in Mumbai; Kharghar has a wide variety and huge numbers of developments with the same.
A 2 BHK flat at Kharghar would cost you approximately 1 crore at some developments at Kharghar. If your budget is approximately 2 crores then you should have no problem finding your next home at Kharghar as most properties there are priced well below 2 crores. Even with a smaller budget, let’s say less than 1 crore you may still become the proud owner of a home in this locality. A few builders in Mumbai have developments at Kharghar with prices ranging from 90 lakhs to 1 crore.
For those who need a larger living space, Kharghar has larger homes of sizes up to 2600 square feet. These 4 BHK flats cost upwards of 2 crores and can make an ideal home for a larger extended family, if you have the money to invest. Kharghar also has its share of upcoming projects in Mumbai, one such development offers 3100 square foot apartments in Mumbai, there are currently an estimated 43 residential projects under construction in this part of Mumbai. The relatively large number of upcoming projects in Kharghar may point to the attractiveness of Kharghar as a destination for high quality residential housing as well as its popularity among upper middle class home buyers.
This part of Mumbai also has high quality social infrastructure such as excellent schools and hospitals, some such schools are international schools renowned throughout the country. As far as living standards go Kharghar rates higher than many other parts of Mumbai, though a relatively new part of Mumbai, as builders in Mumbai it seems did not start building here until the late 1990’s, it has developed rapidly with a great deal of residential projects in Mumbai under construction here.
With property rates in Mumbai shooting through the roof and even many rich people unable to afford their dream home, the presence of Kharghar and the price of property here points to some sense of sanity in Mumbai’s property market. With a large number of developments either built or under construction in Kharghar it is becoming a residential hub in Mumbai which caters to the upwardly mobile, if you have 1 crore to 2 crore to invest, you can easily find a home at Kharghar. Your investment would likely be a great one as Kharghar shows great promise in the future with many new developments planned here.