DLF One Midtown, Moti
Nagar, West Delhi, developed by DLF homes, image to be used for representation
purpose only
Mumbai, India's financial
hub, always fetched top price in its property. But the excitement is no longer
limited to South Mumbai or Bandra. A few of its suburbs have gone under the
radar to become the new drivers of MMR's real estate boom , Andheri, leading
the pack.
Andheri, situated between
the city business hubs and Chhatrapati Shivaji Maharaj International Airport,
it's perfect for daily commuters and travelers.
East-West linking Metro stations, for example, DN Nagar, Azad Nagar, and
Andheri, its close proximity to the Western Express Highway and Link Road, or
easy connectivity to Bandra-Kurla Complex (BKC), Powai, and Goregaon increases their
attractiveness. Andheri today combines a combination of contemporary shopping
malls, restaurants, cafés, and theatres with conventional markets and vintage
residential enclaves. ANAROCK Property Consultants reported that in 2023,
western suburbs witnessed approximately 18,000 residential units launched, and
Andheri contributed a lot because of its well-balanced combination of
residential, commercial, and retail infrastructure. Between 2018 and 2025, the
suburb experienced a steady rise in sold inventory, with numbers reaching above
7,000 units sold in 2023 alone.
JLL India Residential
Market Update 2024 reports that Andheri West and East collectively saw more
than 12,000 new units launched in the last two years. Projects by developers
like Lodha, Sheth, Oberoi, Kanakia, and newer launches by firms like Tribeca
have added to the supply of well-located, well-designed homes. While the market
doesn’t show dramatic spikes in prices, the numbers suggest growing buyer
confidence in the locality’s long-term potential.
The rising demand for
premium homes in Andheri has caught the attention of one of the country’s
biggest real estate developers. Known for its landmark projects in the
Delhi-NCR region, DLF is now making a strong comeback into Mumbai’s property market.
Andheri has been chosen for their first offering in the city after more than a
decade. The project, which is being developed in partnership with the Trident
Group, will be a premium residential development. The first phase is expected
to offer nearly one million square feet of premium homes. With apartments
expected to be priced between ₹6 crore and ₹8 crore, the project aims to offer
3 BHK and larger units, complete with modern amenities and a DLF-style
clubhouse. The launch is expected by the start of the current financial year.
Aakash Ohri, Joint Managing
Director and Chief Business Officer, DLF, said, “We are excited about our entry
into Mumbai, a strategic market for our continued growth. The post-COVID era
has highlighted real estate as a key investment, with a pronounced need for
quality housing. Economic growth has driven a demand for home upgrades,
particularly for larger, premium homes. This has led to a surge in demand for
premium and luxury projects, making Mumbai a vital addition to our pan-India
presence, soon to be followed by Goa. Our aim is to offer competitive entry
price points while ensuring premium quality. Mumbai’s disciplined market
demands a balanced approach to pricing, and we are committed to meeting these
expectations while driving higher margins.”
Another developer, Tribeca,
the licensed partner of Trump Tower in India, recently announced Trilive,
India’s first dedicated rental housing development platform, with its inaugural
project in Andheri, Mumbai. In association with Starwing Group and managed by
luxury co-living company Housr, the project offers 650 fully managed studios at
Marol with minimalist designs, private balconies, and exposure to five-star
facilities such as gyms, coworking lounges, and rooftop theaters. Trilive seeks
to provide high yields on rent to investors and unparalleled convenience to
occupants.
At the same time, another
market gaining strong momentum is Alibaug, which is no longer just a holiday
home destination. Backed by massive infrastructure upgrades like the Mumbai
Trans Harbour Link (MTHL) and Ro-Ro ferry services, the coastal town is quickly
becoming a serious contender in the luxury and second-home segment. Developers
say the demand in Alibaug is being driven by those seeking both long-term capital
appreciation and lifestyle-led investments.
Mohit Malhotra, Founder
& CEO, Neoliv, said, “Alibaug is no longer just a weekend escape, it is
fast emerging as Mumbai’s answer to the Hamptons. Enhanced connectivity through
the Mumbai Trans Harbour Link (MTHL) and Ro-Ro ferry services has transformed
this coastal town into a high-demand real estate destination. What was once a
quiet retreat is now a thriving hotspot for luxury living and investment. The
region is witnessing an unprecedented surge in demand, driven by ultra-luxury
villas, premium plotted developments, and second homes. With its serene
landscapes, pristine beaches, and close proximity to Mumbai, Alibaug is
attracting high-net-worth individuals, celebrities, and investors looking for
long-term value appreciation.”
He further added, “As the
preference for open spaces, sustainable living, and private residences grows,
Alibaug is becoming the go-to destination for those seeking an escape from the
city's hustle while still staying well-connected. With infrastructure
development on the rise and property values steadily appreciating, the town is
poised to be the next big real estate goldmine, offering both lifestyle appeal
and strong investment potential.”
Outside Andheri and
Alibaug, a number of other enclaves in the Mumbai Metropolitan Region are
quickly gaining traction, further expanding the city's real estate landscape.
Chembur and Wadala are seeing a consistent increase in high-rise residential
projects, primarily because of enhanced connectivity through the Eastern
Freeway and Monorail. Simultaneously, Panvel and Navi Mumbai are drawing
investors as well as end-users due to change-making infrastructure projects
like the forthcoming Navi Mumbai International Airport and ongoing metro
development.
