Living here is a breeze
In the middle of a fast evolving development corridor, Goregaon (East) has always been preferred by those who are looking to stay in an area that has a lush green cover and is also close to the bustling business centres. From being an area known for film production, Goregaon (East) has emerged as one of the most sought after residential localities.
Goregaon (East) has witnessed unprecedented growth in the last few years. What used to be a sparsely populated area is now teeming with residential high-rises. The area has a good network of social amenities like schools, hospitals, shopping malls, restaurants and banks.
The area is also well connected with a wide network of roads and trains and is around 15 km from the international airport. Upcoming infrastructure projects like the Mumbai Metro line 3 will further boost the connectivity in the area and would have its impact on prices. The area, however, has its own set of challenges as well. Residents continue to suffer from problems of waterlogging, damaged roads and traffic congestion while the rapid pace of development and increased urbanization has also resulted in deforestation of Aarey Colony.
Placed along the Western Express Highway, it boasts green surroundings, wide roads and quality apartment complexes. It also has various commercial office complexes and is a significant employment centre too. Lotus Corporate Park, Raheja Titanium, Silver Metropolis, NESCO IT Park, Nirlon Knowledge Park and Film City Complex are some of the key job centres located here. Also, other significant workplaces such as Santacruz Electronic Export Processing Zone (SEEPZ) and several important industrial estates in Andheri East are closely connected.
Goregaon (East) comprises a mix of both residential and commercial developments. Gokuldham Colony, Yashodham and
Aarey Colony are amongst the prominent sub-localities of Goregaon (East). The capital prices for multi-storeyed apartments in Goregaon (East) range from Rs 13,100/sq ft to Rs 21,200/ sq ft.
“Goregaon is a part of one of the fastest evolving development corridor, stretching till Borivali. The relocation of many corporate offices in the vicinity has been a major boost for the residential segment in the neighbourhood. With Western Express Highway in the proximity, the area offers seamless connectivity to other areas of the city, that makes commute hassle-free. These factors have directly contributed to the growth of the region and have fostered its prominence as a perfect residential and commercial destination,” says Rohit Poddar, managing director, Poddar Housing and Development.
Most of the residential supply in the locality is concentrated under 2 and 3BHK configurations, followed by 1BHK configuration. For a 2BHK unit the budget range is between Rs 1.4-2.3 crore and for a 3BHK it is between Rs 2.4-3.8 crore. Also, for a 1BHK configuration the budget range falls within Rs 80 lakh-rs 1.3 crore. The locality gets majority of the residential demand from the upper-mid segment, as it has a moderate price range vis-a-vis central and southern Mumbai areas. Ashok Mohanani, Chairman EKTA World, and VP, NAREDCO (Maharashtra), feels that it is the most opportune time for financially well-placed developers to look at expansion here.
“Goregaon is seen as one of the promising locations due to social infrastructure, commercial hubs, and excellent connectivity. It has a lot of attractive infrastructure development going on like the Ram Mandir flyover. With various projects under