One important real estate pocket in the north-eastern part of the city is Ghatkopar, which is also one of the oldest neighborhoods of Mumbai. The Ghatkopar railway station was established in the year 1877 and has stood the test of times. Neighborhoods in close vicinity to the railway station like CGS Colony, Adoni Compound, Gaurishankar Wadi, and Pant Nagar among others have been preferred areas for residential purposes as the then prime motive was the easier commute to other parts of the city.

With time as priorities moved towards holistic luxury living, large spaces slightly further from the hustle bustle of the railway station gained importance. These land parcels allowed the establishment of huge construction projects, both commercial and residential. However, this movement was dominated in the western parts of Ghatkopar due to the availability of land.

The monthly rental values in the locality hover around ₹20,000-30,000 for a 1BHK unit and ₹30,000-50,000 for a 2 BHK apartment. As per data with Dwello, the average price per carpet area in Ghatkopar presently stands at ₹31,500. The average price per carpet area of different localities in Ghatkopar is as shown below.

DEMAND

Demand for homes in Ghatkopar peaked during the month of November 2018 with a 46% increase from the previous month. The most popular localities in Ghatkopar include Marol, Lokhandwala, Sai Wadi, Amboli and Sahayog Nagar followed by the rest.

POPULAR PROJECTS

The popular projects in Ghatkopar over the last month include Prima Residences, Embassy, F Residences, Prima Vista and Swaroop Residency followed by the rest. The projects are developed by renowned builders.

POPULAR SEGMENTS

Demand for the luxury segment homes in Ghatkopar for over a year stood at 10% of the total demand. These numbers rank Ghatkopar second in terms of the demand for luxury segment in the north eastern region of Mumbai after Powai and stands in close competition to Mulund.

POPULAR CONFIGURATIONS

Demand for the 2 and 1 BHK homes has been the highest in Ghatkopar. This can be attributed to greater demand for homes in the affordable segment and the high-ticket size of higher configurations. Demand for the 4 and 5 BHK homes stood at 0.35% and 3.60% respectively. The numbers are greater than those in Chembur or Powai.

TRANSPORTATION

In terms of connectivity, Ghatkopar has two important roads that act as a lifeline. The LBS road in the west and the Eastern Express Highway in the eastern part of the region. Many established developers are aiming to construct their projects along these roads to allow greater connectivity to the buyer. The Mumbai Metro project played a key role in generating high demand for this real estate pocket. Access to Ghatkopar from the western suburbs of Mumbai became easier and faster. The metro also reduced the commute between Ghatkopar and the Airport to barely 15-20 minutes.

The upcoming metro from Colaba-Bandra-SEEPZ will further add to the charms of Ghatkopar West. It will not only enhance the connectivity of the region to Church Gate but will also propel property prices along the neighbouring corridors.